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What is the interest rate on student loans 2021?

Author: Edu Loans
by Edu Loans
Posted: Mar 02, 2021
education loan

While going abroad and studying at your preferred destination could be an overwhelming experience, the sheer thought of exorbitant tuition fee can be all bamboozling. For those who aren’t aware of the ABC of education loan abroad, this blog would act as the guide especially on the Interest rates by various Lenders. Coronavirus pandemic has not thrown the dreams of students off guard. If anything, it may have delayed the process but hasn’t derailed it. In fact, a lot of banks and financial companies are of the opinion that pandemic-like situations open more studying avenues for students willing to go abroad. There are some really excellent options for loans for students studying abroad

The most important criteria is the Interest rate on Education loan Abroad. It is the single most important financial criteria for you to choose between loans. Let’s look at the parameters on which it gets affected

1. Student Profile - Generally, loans for students Studying abroad is a bet on the future earning potential of the student. So the better the earning potential which is a factor of his Course of Study, His level of Study, University ranking and country stay back options cheaper will be the interest rate.

2.PParental/Cosignor Profile - Most Lenders for Education loan abroad want a minimum IT return of the parents. They as well want high disposable income which includes removing the present EMI from the parental income. With a better Co-signor profile we would be getting a better rate of interest.

  1. Security Provided - Rate of Interest is definitely very low for loans for Students Studying abroad in case collateral is provided. The security provided definitely provides Lenders a cushion and they would provide you fine rates for education loan abroad
  2. Terms of Repayment - In certain cases in case the student decides to repay the loan from day 1 the interest rate can be lower than the student who chooses full moratorium.

Interest rates for student loans 2021

Here is the table informing you about the rates of interest for students loan for this year-


Interest Rate (ROI)

BOB (Baroda Scholar)

For Listed premier

Male 8.35

Female 7.85%

For non listed

Male 9%

Female 8.50%

Axis Bank

Secured :

8..99 % ( Till March)

Unsecured :

11 % - A ( Only for US till March) to 13.00 % (Negotiable)

SBI (Global Edvantage)

9.55 % (3 Yr.s MCLR + 2.00 % Spread)

0.50 % Concession (Girl Student)

0.50 % Discount against Rinn Raksha or any other existing policy assigned in favour of SBI

(SBI Life) Insurance Policy

Rin Raksha is 1 % (Loan Amount)

ICICI Bank ( I Smart)

(PG & UG)

Secured : A1-9.50%, A2-10.75%, A3 & A4-13.00 %

Unsecured : A1 -10.75%, A2-10.99%, A3 & A4-12.25%

HDFC Credila

Secured :11.25 % to 11.75 % (Negotiable)

Unsecured :11.95 % to 12.75 % (Negotiable)


Secured :11.00 % to 13.00 % (Negotiable)

Unsecured :11.50 % to 13.75 % (Negotiable)


Secured :11.00 % to 13.00 % (Negotiable)

Unsecured :11.50 % to 13.75 % (Negotiable)


Secured :11.50 % to 12.75 % (Negotiable)

Unsecured :12.25 % to 14.00 % (Negotiable), US. - 12.25% - 12.75%


8 % to 10 % (Fixed Rate)

Bajaj Finserve

10.25 % (Salaried)

10.75 % (Self Employed)(Negotiable)


APR of 6.60 % onwards

+ 1.31 % variable LIBOR

(variable rate change updated every 3 months)


12.49 % (For Bachelors Courses)

(Funding provided only for Last 2 Yrs.)

& 10.49 % (Only for MS Courses)

(After 3 Discounts on Interest Rate)

  1. 50 % if Repayment via Auto Debit
  2. 50 % if No Missed Payment in 6 Months
  3. 50 % on getting Full Time Job post Course

Ascent / Commonbond / Earnest / Sallie Mae

3.00 - 7.00 %

(Credit Rating Based of US Co-Signor)

Note: The rates of interest may be subject to change from time to time. Students must get in touch with Eduloans or the bank directly, for the latest information while applying for the loan.

About the Author

Study abroad education loan | education loan without collateral- Apply for Overseas education loan in India from Eduloans at low interest and get an education loan to study abroad over Rs 40-50 lakh with flexible.

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Author: Edu Loans

Edu Loans

Member since: Apr 23, 2020
Published articles: 4

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