State Bank of India (SBI)

State Bank of India offers two variants of education loans for MBBS aspirants - one being SBI Student Loan and other being SBI Scholar Loan. SBI student loan is a general education loan, while SBI Scholar loan is offered to students selected for admission in premier medical institutions of India. The list of premier medical institutions on which rebate in interest rate and loan amount is given by SBI are as given below:

  • Kasturba Medical College (KMC), Mangalore (List A Institute)
  • Kasturba Medical College (KMC), Manipal (I.ist B Institute)
  • Army College of Medical Sciences (ACMS). Secunderabad (List B Institute)
  • Army College of Dental Sciences (ACDS), Delhi Cantt (List B Institute).
  • Maharishi Markandeshwar University (MMU Medical College. Haryana (List C Institute)
Education Loan Amount Up to Rs 7.5 Lakh
Collateral Required No
Interest Rate 10%
8.50%(List A)
9%(List B)
10%(List C)
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 15 Years*


Education Loan Amount Rs. 10 Lakh
(max. for studies in india)
Collateral Required Yes
Interest Rate 10.75%
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 15 Years*


Education Loan Amount Rs. 20 Lakh
(only for students admitted to List A,B & C Institutions)
Collateral Required No
(for List A & B)
Yes
(For List C)
Interest Rate 8.50% (List A)
9% (List B)
10% (List C)
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 15 Years*


Education Loan Amount Rs. 30 Lakh
(only for students admitted to List A,B & C Institutions)
Collateral Required No(for List A)
Yes(for List B & C)
Interest Rate 8.50% (List A)
9% (List B)
10% (List C)
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 15 Years*


Education Loan Amount Rs. 20 Lakh
(max for studies abroad)
Collateral Required Yes
Interest Rate 10.75%
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 15 Years*


Bank of Baroda

Extra loan amount on subsidized interest rate is granted to students admitted to some of the premier medical institutions of India selected by Bank of Baroda. Below is the list of 'A' and 'B' rated medical institutions approved by Bank of Baroda:

List A Institutions

  • All India Institute of Medical Sciences (AIIMS)
  • Armed Forces Medical College (AFMC)
  • Bangalore Medical College (13MC)
  • Christian Medical College (CMC)
  • Grant Medical College (GMC), Mumbai
  • Jawaharlal Institute of Post-Graduate Medical Education and Research (JIPMER), Pondicherry
  • Kasturba Medical College (KMC), Manipal
  • King Edward Medical College (KEMC), Mumbai
  • Lady Hardinge Medical College (LHMC), Delhi
  • Madras Medical College (MMC), Chennai
  • Maulana Azad Medical College (MAMC), Delhi
  • Post Graduate Institute of Medical Education & Research (PGIMER), Chandigarh
  • Armed Forces Medical College (AFMC)
  • St. John's Medical College, Bangalore
  • Kerala Dayanand Medical College (DMC)


List B Institutions

  • Amrita School of Medicine (ASM)
  • Dayanand Medical College (DMC), Ludhiana
Education Loan Amount Up to Rs 7.50 Lakh
Collateral Required No Security(Upto 4 Lakh)
Intangble Security(from Rs. 4 to 75. Lakh)
Interest Rate 10.80%(approx)
9.05%(Approx only for student admitted to List B institution)
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 10 Years*


Education Loan Amount Above Rs 7.50 Lakh(max for 30 Lakh for studies in india)
Collateral Required yes
Interest Rate 8.80%(approx. Only for student admitted to list B instution)
9.05%(Approx only for student admitted to List B institution)
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 15 Years*



Central Bank of India (Cent Vidyarthi)

Education Loan Amount Rs. 10 Lakh
(for studies in India)
Collateral Required No Security( Upto Rs. 4 lakh)
Inatangible Security(from 4 lakh to 7.5 lakh)
Tangible Security(above 7.5 lakh)
Interest Rate 10.30%(for male)
9.80%(for female)
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 10 Years* (for loan upto Rs 7.5 lakh)
15 Years for all others


Education Loan Amount Rs. 20 Lakh
(for studies abroad)
Collateral Required Yes
Interest Rate 9.80%
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 15 Years*


HDFC Bank

Education Loan Amount Rs. 10 Lakh
(for studies in India)
Collateral Required No Security( Upto Rs. 4 lakh)
Inatangible Security(from 4 lakh to 7.5 lakh)
Tangible Security(above 7.5 lakh)
Interest Rate 11.97%(approx)
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 10 Years* (for loan upto Rs 7.5 lakh)
15 Years(for all others)


HDFC Credila

Education Loan Amount No Upper Limit
(for studies in india)
Collateral Required Yes
Interest Rate Above 12.10%
Moratorium Period Uptill 6 months or 1 year(may be extended, after complition of course)
Repayment Period Starting 12 years**



IDBI Bank

Education Loan Amount Rs. 20 Lakh
(for studies in India)
Collateral Required No Security( Upto Rs. 4 lakh)
Inatangible Security(from 4 lakh to 7.5 lakh)
Tangible Security(above 7.5 lakh)
Interest Rate 9.40%(for loans below 10 lakh)
10%(for female)
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 15 Years*


Education Loan Amount Upto Rs. 30 Lakh(granted to students admitted to top medical colleges)
Collateral Required No(For loans upto 20 lakh)
Yes For others
Interest Rate 8.40%
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 15 Years*



Canara Bank

Education Loan Amount Rs. 10 Lakh
(for studies in India)
Collateral Required No Security( Upto Rs. 4 lakh)
Inatangible Security(from Rs. 4 lakh to Rs. 7.5 lakh)
Tangible Security(above Rs. 7.5 lakh)
Interest Rate 10.45%(for loans upto Rs. 7.5 lakh)
10.25%(for loans above Rs. 7.5 lakh)
Moratorium Period Uptil 1 Year(after complition of course)
Repayment Period 10 Years* (for loan upto Rs 7.5 lakh)
15 Years(for all others)



Dena Bank (Dena Vidya Laxmi Education Loan Scheme)

Dena Bank gives extra interest subsidy and enhanced loan amount to students admitted to top medical institutions of India. Below given is the list of 'A' rated colleges which are approved by Dena Bank. Rebates in interest rates and the total loan amount is extended to students admitted to these institutions:

  • Christian Medical College (CMC) Vellore
  • All India Institute of Medical Sciences (AIIMS) New Delhi
  • Post Graduate Institute of Medical Education & Research, Chandigarh
  • Armed Forces Medical College (AFMC) Pune
  • Vardhman Mahavir Medical College & Safdargunj Hospital, New Delhi