Skill-development loans

Search products and banksBankAll banksBank of BarodaBank of MaharashtraCanara BankCentral Bank of IndiaIndian BankState Bank of IndiaExpand all

6 products

Product and bank⇅	Interest rate⇅ Filter Interest rate %9–12%1	Benchmark⇅ Filter Benchmark EEBLR1RRLLR1~Floating rate2 Matches any selected option	Maximum finance⇅ Filter Maximum finance ₹Up to ₹5 lakh2₹₹5–₹25 lakh2	Maximum tenure⇅ Filter Maximum tenure ◷Up to 1 year2◷1–5 years6◷5–10 years6	Minimum income⇅ Filter Minimum income ₹Up to ₹25,0001₹₹25,001–₹50,0001₹₹50,001–₹1 lakh1₹Above ₹1 lakh1	Eligibility⇅ Filter Eligibility YYouth / minor2 Matches any selected option	Processing fee⇅ Filter Processing fee 0Nil / no fee6 Matches any selected option	Prepayment / closure⇅ Filter Prepayment / closure 0No penalty / charge3%Percentage charge1
Skill Loan SchemeBank of Baroda	BRLLR + 1.50%, effective rate 9.40% in the published table girl students receive a 0.50% concession subject to the floor at BRLLR.	BRLLR + 1	₹5,000 minimum to ₹7.50 lakh maximum, subject to the student’s repayment capacity covers tuition/course, examination, library/lab, caution deposit, books, equipment and necessary course expenses.	Up to 3 years for loans up to ₹50,000 up to 5 years for ₹50,000–₹1 lakh up to 7 years above ₹1 lakh.	No minimum income amount is published. The student loan is need-based and subject to the student's repayment capacity an income proof is requested only from a salaried co-applicant or guarantor when applicable.	Indian nationals admitted to NSQF-aligned vocational/skill courses at ITIs, polytechnics, recognised schools/colleges, NSDC/Sector Skill Council or State Skill Mission/Corporation partners. No specific student age limit a minor’s parent executes documents.	Nil processing and documentation charges.	For a fixed-rate Skill Loan, nil when prepaid from the borrower's own source and 0.50% of outstanding when taken over by another lender. The official product page publishes this table under Pre-payment charges.
Bank of Maharashtra Mahabank Skill LoanBank of Maharashtra	9.55% p.a. effective rate.	RLLR 8.05% + 1.50% = 9.55% p.a.	Minimum loan ₹5,000 maximum loan ₹7.50 lakh.	Up to 3 years for loans up to ₹50,000 up to 5 years for loans above ₹50,000 and up to ₹1 lakh up to 7 years for loans above ₹1 lakh. Moratorium is up to 6 months after a course of up to one year and 12 months after a longer course.	No salary or annual-income threshold is published eligibility is based on admission/qualification for an eligible skill course and execution of loan documents.	Value awaiting review	Nil processing charges.	Value awaiting review
Canara IBA Skill Loan SchemeCanara Bank	IBA Skill Loan (maximum ₹7.50 lakh): fixed effective rate 10.25% p.a. (RLLR 8.00% + 0.75% fixed-rate premium + 1.50% credit-risk premium).	Value awaiting review	Need-based finance from ₹5,000 to ₹7.50 lakh.	Repayment up to 3 years for quantum up to ₹50,000 up to 5 years above ₹50,000 to ₹1 lakh and up to 7 years above ₹1 lakh. Moratorium is 6 months after courses up to one year and 12 months after longer courses.	No student-income threshold is published the loan is jointly granted with a parent or guardian, with co-applicant income proof where applicable.	Value awaiting review	Nil processing charges.	No prepayment penalty.
Cent Skill LoanCentral Bank of India	Value awaiting review	The page links the latest Central Bank rate table but does not name a benchmark.	₹5,000 minimum to ₹7.50 lakh maximum margin 5%.	After moratorium: up to 3 years for loans up to ₹50,000 up to 5 years for ₹50,000 to ₹1 lakh up to 7 years above ₹1 lakh.	No minimum income amount is published. Eligibility is based on Indian nationality and admission to an eligible vocational course finance is need-based from ₹5,000 to ₹7.50 lakh.	Indian national admitted to an eligible NSQF-aligned course run or supported by a government ministry/department/organisation, NSDC or State Skill Mission/Corporation eligible non-NSQF courses may be on the MSDE Skill India Digital Hub.	Nil.	Value awaiting review
IB Skill LoanIndian Bank	9.45% p.a. floating for IB Skill Loan in Indian Bank's current personal-segment rate table dated 14 August 2026.	The current IB Skill Loan rate row is labelled floating but does not identify a named benchmark or spread.	₹5,000 minimum and ₹7.50 lakh maximum.	Up to 3 years for loans up to ₹50,000 up to 5 years for loans above ₹50,000 and up to ₹1 lakh up to 7 years above ₹1 lakh.	Value awaiting review	Indian national with admission or minimum qualification for an NSQF-aligned or eligible non-NSQF course from an ITI, polytechnic, recognised school/college, NSDC or state skill partner, or a training entity onboarded on Skill India Digital Hub. No specific age restriction parent executes documents for a minor.	Nil processing fee for Educational Skill Loan under the current Indian Bank schedule.	Value awaiting review
SBI Skill LoanState Bank of India	9.40% p.a. for unsecured Skill Loan up to ₹7.50 lakh, linked to EBR and floating for the full loan term.	EBR (External Benchmark Rate) the education-loan rate floats for the full loan period.	₹5,000 to ₹7.50 lakh	Up to 36 months through ₹50,000 60 months above ₹50,000 through ₹1 lakh 84 months above ₹1 lakh	Value awaiting review	Value awaiting review	Nil processing fee and nil margin	NIL in the shared Education Loan KFS contingent-charge table.

Green marks the most favourable compatible published number or range in each column; incomparable units and overlapping range trade-offs remain neutral. It does not account for eligibility, service, exclusions or personal suitability.