Saraswat Co-operative Bank said it is offering pre-approved education loans at 8.50 per cent, with 100 per cent finance of course fees and zero processing fee. Girl students will get education loan at a special interest rate of 8 per cent.
India's largest Urban Co-operative Bank, in a statement, said its education loan scheme also covers online courses (in India and abroad). The Bank will also offer 25 per cent discount on commission on purchases of foreign currency or forex remittance.
As a new feature in its education loan scheme, Saraswat Bank has made provisions to extend finance to open and distance (online) learning courses (in India and abroad) as well, thus accepting and supporting the new avenue for education, the statement added.