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Education Loan Interest Rates November 2026
The lowest education loan interest rate we found this month is 8.5% from ICICI Bank. Compare the best education loan rates from 1 bank below, each linked to the bank's own page. An education loan pays for courses in India or abroad. Repayment commonly starts after the course ends plus a moratorium period.
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Education Loan rates by bank
| Bank | Starting rate | Processing fee | Prepayment | Max tenure |
|---|---|---|---|---|
 ICICI Bank | 8.5% Secured loans for select institutes in India; unsecured loans abroad from 10.25% | Not stated on page | No foreclosure charges | 15 yrs |
Sorted from lowest to highest starting rate. Each bank page links to its official source and check date.
These figures use the bank's advertised starting rate. Most borrowers are offered a higher rate depending on credit score, income and loan size, so treat the result as a best case.
Prepayment options (optional): pay extra to finish sooner
Frequently asked questions
Which bank has the lowest education loan interest rate?
Among the banks we have checked, ICICI Bank advertises the lowest starting rate at 8.5% per annum (checked 2026-11-01). The rate you are offered can be higher.
What is the EMI on a ₹20 lakh education loan for 10 years?
At 8.5% it is about ₹24,797 a month, and at 10% it is about ₹26,430.