{"id":5886,"date":"2023-06-28T18:57:50","date_gmt":"2023-06-28T13:27:50","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=5886"},"modified":"2025-08-05T18:27:42","modified_gmt":"2025-08-05T12:57:42","slug":"nbfc-vs-bank-education-loan","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/","title":{"rendered":"NBFC vs Bank Education Loan"},"content":{"rendered":"\n<p>Plenty of students take education loans to study abroad. Education loans are provided by banks and NBFCs. A bank is a financial institution that offers banking services to people. The main difference between an NBFC and a bank is that NBFCs<strong> <\/strong>do not hold a banking license.<\/p>\n\n\n\n<p>Non-Banking Financial institutions (NBFCs) cannot accept demand drafts or draw cheques. However, they can grant education loans to students. Hence, there are two options in front of a student. Keep reading to know more about NBFC vs Bank education loans.<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-nbfc-vs-bank-education-loan-comparison\" data-level=\"2\">NBFC vs Bank Education Loan Comparison<\/a><\/li><li><a href=\"#h-bank-vs-nbfc-education-loan-nbsp\" data-level=\"2\">Bank VS NBFC Education Loan\u00a0<\/a><\/li><li><a href=\"#h-factors-to-consider-while-applying-for-an-education-loan\" data-level=\"2\">Factors to Consider While Applying for an Education Loan<\/a><\/li><li><a href=\"#h-major-nbfc-education-loan-in-india\" data-level=\"2\">Major NBFC Education Loan in India<\/a><\/li><li><a href=\"#h-list-of-nbfc-providing-education-loans-in-india\" data-level=\"2\">List of NBFC Providing Education Loans in India<\/a><\/li><li><a href=\"#h-faqs\" data-level=\"2\">FAQs<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-nbfc-vs-bank-education-loan-comparison\"><span id=\"nbfc-vs-bank-education-loan-comparison\">NBFC vs Bank Education Loan Comparison<\/span><\/h2>\n\n\n\n<p>The main difference between NBFC vs Bank education loans is as follows:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Comparison Factor<\/strong><\/td><td><strong>NBFC<\/strong><\/td><td><strong>Bank<\/strong><\/td><\/tr><tr><td>Course Flexibility&nbsp;<\/td><td>NBFC offers education loans for a variety of courses to study abroad<\/td><td>Banks provide education loans to students to study in reputed\/approved institutions&nbsp;<\/td><\/tr><tr><td>Loan Procurement<\/td><td>NBFCs have simpler terms and loan procurement is easier&nbsp;<\/td><td>Banks have strict rules and offer loans to study courses that have job prospects<\/td><\/tr><tr><td>Loan coverage&nbsp;<\/td><td>Education loans offered by NBFC cover  100% of all the expenses like tuition fees<\/td><td>Banks cover full\/partial tuition fees, travel expenses, and other related expenses&nbsp;<\/td><\/tr><tr><td>Processing time<\/td><td>Faster processing of loans<\/td><td>Private banks approve loans faster than public banks<\/td><\/tr><tr><td>Processing fees<\/td><td>The range is between 1% to 2%<\/td><td>The range is between 0.5% to 2%<\/td><\/tr><tr><td>Government Subsidy<\/td><td>Interest rate subsidies are not available&nbsp;<\/td><td>Interest rate subsidies are available for the weaker sections of the society<\/td><\/tr><tr><td>Collateral Security<\/td><td>The <strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/collateral-security\/\">collateral security<\/a><\/strong> requirement is based on the loan amount&nbsp;<\/td><td>No collateral up to INR 4 lakh. Loans more than INR 7.5 lakh require collateral security<\/td><\/tr><tr><td>Loan Amount<\/td><td>No cap on the loan sanctioned. Loans are granted based on the need of the student\/course type<\/td><td>The upper limit is between INR 20 lakh-INR 30 lahks based on course and university<\/td><\/tr><tr><td>Charges&nbsp;<\/td><td>Processing charges, documentation, bounce, swap, and prepayment charges, among others<\/td><td>Processing charges, documentation, bounce, swap, and prepayment charges, among others<\/td><\/tr><tr><td>Interest Rate<\/td><td>Interest rates are offered as <strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/floating-interest-rates-in-education-loan\/\">floating interest rates<\/a><\/strong> by NBFCs<\/td><td>As per the base rate of the bank. Usually between 10%-17%<\/td><\/tr><tr><td>Moratorium Period<\/td><td>6 months<\/td><td>6 months- 1 year<\/td><\/tr><tr><td>Repayment&nbsp;<\/td><td>Loans have to be repaid within 7 years<\/td><td>Loans have to be repaid within 7 years<\/td><\/tr><tr><td>Interest Rate Repayment<\/td><td>Can start during the moratorium period<\/td><td>Can start during the moratorium period<\/td><\/tr><tr><td>Customized services<\/td><td>Pre-visa, pre-loan sanctions, bridge loans, fast-track loans, and GRE score-based loans are available&nbsp;<\/td><td>Available as per the need of the borrower. Pre-visa and pre-loan sanctions are also available<\/td><\/tr><tr><td>Pre- Closure charges&nbsp;<\/td><td>Might levy pre-closure charges based on the profile, reason, and  tenure left&nbsp;<\/td><td>No charges<\/td><\/tr><tr><td>Concessions for women<\/td><td>Not available&nbsp;<\/td><td>Available<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-bank-vs-nbfc-education-loan-nbsp\"><span id=\"bank-vs-nbfc-education-loan\">Bank VS NBFC Education Loan&nbsp;<\/span><\/h2>\n\n\n\n<p>Banks are <b>government-authorised<\/b> financial institutions that receive deposits and grant credit to the public. Banks provide several banking services such as drawing cheques, and demand drafts.<\/p>\n\n\n\n<p>Non-Banking financial institutions (NBFC) are institutions mainly known for providing services such as education loans. NBFCs are regulated by the Reserve Bank of India. They are not banks but perform similar functions. <\/p>\n\n\n\n<p>For example, purchasing, leasing, venture capital finance, and housing finance, among others. NBFCs can only accept term deposits. Deposits repayable on demand cannot be accepted by an NBFC.<\/p>\n\n\n\n<p class=\"has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background\"><strong>Also Read: <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-insurance\/\"><strong>Education loan insurance: Benefits, calculator, programs, cost, importance<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-factors-to-consider-while-applying-for-an-education-loan\"><span id=\"factors-to-consider-while-applying-for-an-education-loan\">Factors to Consider While Applying for an Education Loan<\/span><\/h2>\n\n\n\n<p>Here are some factors you need to consider before taking an education loan from an NBFC\/Bank.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Courses: <\/strong>The main difference between NBFC vs bank education loans is the courses covered. Banks usually have an approved list of universities while an NBFC does not. Banks only grant&nbsp;education loans if the institution comes under the list<\/li>\n\n\n\n<li><strong>Cap for expenses: <\/strong>All educational loan expenses are covered by an NBFC and Banks. However, students must be aware of any cap on expenses. For example, students applying to a course through the management quota need to only pay government-specified tuition fees.<\/li>\n\n\n\n<li><strong>Amount of loan sanctioned:<\/strong> As per the guidelines to study abroad INR 20 lakhs can be sanctioned. However, banks can generally provide a higher education loan to students wanting to study in premier institutions.<\/li>\n\n\n\n<li><strong>Interest Rates: <\/strong>When it comes to NBFC vs bank education loans, banks have to follow the Marginal cost of funds-based lending rate (MCLR). However, NBFCs are free to set their own rates.<\/li>\n\n\n\n<li><strong>Tax Benefits: <\/strong>Students must take loans from an approved institution that comes under Section 80E of the Income Tax Act. It will help the student to avail the income tax benefits.<\/li>\n\n\n\n<li><strong>Loan Repayment Structure: <\/strong>Several institutions offer a <strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/what-is-moratorium-period-and-how-does-it-work\/\">moratorium period<\/a><\/strong> according to which students do not have to repay the loan while they are studying. Being aware of the repayment structure can help the student. For example, in some cases, only the repayment of the principal amount is postponed.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background\"><strong>Also read: <a href=\"https:\/\/leverageedu.com\/blog\/types-of-education-loan\/\">T<\/a><\/strong><a href=\"https:\/\/leverageedu.com\/blog\/types-of-education-loan\/\"><strong>ypes of education loan for Indian students<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-major-nbfc-education-loan-in-india\"><span id=\"major-nbfc-education-loan-in-india\">Major NBFC Education Loan in India<\/span><\/h2>\n\n\n\n<p>There are several providers of&nbsp; Nbfc vs bank education loans. Here is a list of the top NBFCs in India for education loans.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>NBFC<\/strong><\/td><td><strong>Base Rate of Interest&nbsp;<\/strong><\/td><td><strong>Maximum Loan Amount<\/strong><\/td><td><strong>Tenure<\/strong>&nbsp;<\/td><\/tr><tr><td><strong>Credila<\/strong><\/td><td>9.75% p.a. onwards<\/td><td>No cap<\/td><td>15 years<\/td><\/tr><tr><td><strong>Avanse<\/strong><\/td><td>11% &#8211; 14%<\/td><td>No cap<\/td><td>15 years<\/td><\/tr><tr><td><strong>InCred<\/strong><\/td><td>11.5-15%<\/td><td>1 Cr<\/td><td>15 years<\/td><\/tr><tr><td><strong>Auxilo<\/strong><\/td><td>12-13.5%<\/td><td>No cap<\/td><td>10 years<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background\"><strong>Also read<\/strong>: <a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-emi-calculator\/\"><strong>Education loan interest calculator: with or without moratorium period<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-list-of-nbfc-providing-education-loans-in-india\"><span id=\"list-of-nbfc-providing-education-loans-in-india\">List of NBFC Providing Education Loans in India<\/span><\/h2>\n\n\n\n<p>Here are the top banks providing education loans to study abroad. The main difference between NBFCs vs bank education loans can be understood after going through the list.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Bank Name<\/strong><\/td><td><strong>Interest Rate&nbsp;<\/strong><\/td><td><strong>Maximum Loan Amount<\/strong><\/td><td><strong>Repayment<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/leverageedu.com\/blog\/syndicate-bank-education-loan\/\"><strong>Syndicate Bank<\/strong><\/a>&nbsp;<\/td><td>9.55% \u2013 13.25%<\/td><td>INR 2 crores<\/td><td>15 years + Moratorium&nbsp;<\/td><\/tr><tr><td><strong>Vijaya Bank<\/strong>&nbsp;<\/td><td>Multiple<\/td><td>INR 20 lakh<\/td><td>15 years<\/td><\/tr><tr><td><strong>ICICI Bank&nbsp;<\/strong><\/td><td>10.50%- 10.75%<\/td><td>INR 20 lakh<\/td><td>&#8211;<\/td><\/tr><tr><td><strong>IDBI&nbsp;<\/strong><\/td><td>9 \u2013 12 %<\/td><td>INR 20 lakh<\/td><td>15 years<\/td><\/tr><tr><td><strong>Bank of Baroda<\/strong><\/td><td>8 \u2013 10 %<\/td><td>INR 80 lakh (for medical and aviation)<\/td><td>10-15 years<\/td><\/tr><tr><td><strong>Allahabad Bank&nbsp;<\/strong><\/td><td>7 \u2013 11 %<\/td><td>INR 20 lakh<\/td><td>10-15 years<\/td><\/tr><tr><td><strong>Canara Bank&nbsp;<\/strong><\/td><td>7 \u2013 10 %<\/td><td>INR 40 lakh +<\/td><td>10 \u2013 15 years<\/td><\/tr><tr><td><strong>HDFC Bank<\/strong><\/td><td>9 \u2013 14 %<\/td><td>INR 20 Lakhs +<\/td><td>15 years<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1687777026551\"><strong class=\"schema-faq-question\">Q1. <strong>What is the difference between NBFC and banks<\/strong> for education loans<strong>?<\/strong><\/strong> <p class=\"schema-faq-answer\">Ans. An NBFC cannot accept deposits that are repayable on demand while a bank can. There are many differences between NBFC vs bank education loans. Banks usually have a list of approved educational institutions and provide education loans for the same. An NBFC is more flexible. Students just have to make sure that the course that they are applying for is provided by the university.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1687777028835\"><strong class=\"schema-faq-question\">Q2. <strong>Which NBFC is the best for education loans?<\/strong><\/strong> <p class=\"schema-faq-answer\">Ans. Avanse Financial Services, InCred, Auxilo, and Prodigy Finance are some of the best NBFCs for education loans to study abroad.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1687777030105\"><strong class=\"schema-faq-question\">Q3. <strong>Why do people prefer NBFC over banks?<\/strong><\/strong> <p class=\"schema-faq-answer\">Ans. NBFCs are preferred over banks as they provide course flexibility and provide interest rates suitable for a borrower.<\/p> <\/div> <\/div>\n\n\n\n<p>NBFC vs Bank education loan is a choice that students have to make while applying for an education loan. An NBFC offers course flexibility, attractive interest rates, and a maximum amount of education loans. On the other hand, banks provide the best education loans to study in reputed universities. <\/p>\n\n\n\n<p>They also consider the job prospects of the students before granting the loan. Banks also provide education loans for a longer moratorium period of up to 1 year. Some of the banks you can rely on are Syndicate Bank, ICICI Bank, and Bank of Baroda.&nbsp;<\/p>\n\n\n\n<p>This was all about NBFCs vs bank education loans. To discover more articles like this one visit <a href=\"https:\/\/fly.finance\/\"><strong>Fly.Finance<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plenty of students take education loans to study abroad. Education loans are provided by banks and NBFCs. A bank is a financial institution that offers banking services to people. The main difference between an NBFC and a bank is that NBFCs do not hold a banking license. Non-Banking Financial institutions (NBFCs) cannot accept demand drafts &#8230; <a title=\"NBFC vs Bank Education Loan\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/\" aria-label=\"Read more about NBFC vs Bank Education Loan\">Read more<\/a><\/p>\n","protected":false},"author":10,"featured_media":5887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-5886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NBFC vs Bank Education Loan I Fly Finance<\/title>\n<meta name=\"description\" content=\"Know more about nbfc vs bank education loan, eligibility, application process, comparison table, best NBFC for education loan and more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NBFC vs Bank Education Loan\" \/>\n<meta property=\"og:description\" content=\"Know more about nbfc vs bank education loan, eligibility, application process, comparison table, best NBFC for education loan and more.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"Fly Finance\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-28T13:27:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-05T12:57:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2023\/06\/26163259\/how-to-open-a-business-bank-account-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Blessy George\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Blessy George\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NBFC vs Bank Education Loan I Fly Finance","description":"Know more about nbfc vs bank education loan, eligibility, application process, comparison table, best NBFC for education loan and more.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/","og_locale":"en_US","og_type":"article","og_title":"NBFC vs Bank Education Loan","og_description":"Know more about nbfc vs bank education loan, eligibility, application process, comparison table, best NBFC for education loan and more.","og_url":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/","og_site_name":"Fly Finance","article_published_time":"2023-06-28T13:27:50+00:00","article_modified_time":"2025-08-05T12:57:42+00:00","og_image":[{"width":720,"height":400,"url":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2023\/06\/26163259\/how-to-open-a-business-bank-account-1.png","type":"image\/png"}],"author":"Blessy George","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Blessy George","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#article","isPartOf":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/"},"author":{"name":"Blessy George","@id":"https:\/\/fly.finance\/blog\/#\/schema\/person\/e8fb083954403279ac2282fcd022b198"},"headline":"NBFC vs Bank Education Loan","datePublished":"2023-06-28T13:27:50+00:00","dateModified":"2025-08-05T12:57:42+00:00","mainEntityOfPage":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/"},"wordCount":1266,"commentCount":0,"publisher":{"@id":"https:\/\/fly.finance\/blog\/#organization"},"image":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#primaryimage"},"thumbnailUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2023\/06\/26163259\/how-to-open-a-business-bank-account-1.png","articleSection":["Education Loan"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#respond"]}],"accessibilityFeature":["tableOfContents"]},{"@type":["WebPage","FAQPage"],"@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/","url":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/","name":"NBFC vs Bank Education Loan I Fly Finance","isPartOf":{"@id":"https:\/\/fly.finance\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#primaryimage"},"image":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#primaryimage"},"thumbnailUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2023\/06\/26163259\/how-to-open-a-business-bank-account-1.png","datePublished":"2023-06-28T13:27:50+00:00","dateModified":"2025-08-05T12:57:42+00:00","description":"Know more about nbfc vs bank education loan, eligibility, application process, comparison table, best NBFC for education loan and more.","breadcrumb":{"@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#breadcrumb"},"mainEntity":[{"@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#faq-question-1687777026551"},{"@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#faq-question-1687777028835"},{"@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#faq-question-1687777030105"}],"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#primaryimage","url":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2023\/06\/26163259\/how-to-open-a-business-bank-account-1.png","contentUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2023\/06\/26163259\/how-to-open-a-business-bank-account-1.png","width":720,"height":400,"caption":"nbfc vs bank education loan"},{"@type":"BreadcrumbList","@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fly.finance\/blog\/"},{"@type":"ListItem","position":2,"name":"Education Loan","item":"https:\/\/fly.finance\/blog\/category\/education-loan\/"},{"@type":"ListItem","position":3,"name":"NBFC vs Bank Education Loan"}]},{"@type":"WebSite","@id":"https:\/\/fly.finance\/blog\/#website","url":"https:\/\/fly.finance\/blog\/","name":"Fly Finance","description":"Explore blogs related to Education Loan, Student Bank Account, International Money Transfer, Scholarships along with latest news at Fly Finance.","publisher":{"@id":"https:\/\/fly.finance\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fly.finance\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/fly.finance\/blog\/#organization","name":"Fly Finance","url":"https:\/\/fly.finance\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fly.finance\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/01\/29151141\/Fly-Finance-Logo-1.webp","contentUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/01\/29151141\/Fly-Finance-Logo-1.webp","width":1080,"height":1080,"caption":"Fly Finance"},"image":{"@id":"https:\/\/fly.finance\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/fly.finance\/blog\/#\/schema\/person\/e8fb083954403279ac2282fcd022b198","name":"Blessy George","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/58125eac422849e27bb1a73030a1c9346ee4b8a5c99b928ace3c5736451c43b4?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/58125eac422849e27bb1a73030a1c9346ee4b8a5c99b928ace3c5736451c43b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/58125eac422849e27bb1a73030a1c9346ee4b8a5c99b928ace3c5736451c43b4?s=96&d=mm&r=g","caption":"Blessy George"},"description":"Blessy George is a seasoned finance specialist who specialises in school financing. With over two years of experience, Blessy has polished her abilities in negotiating the complexities of the education loan procedure and has become an expert at problem-solving in this arena. Her extensive knowledge of financial systems and lending practices, together with her rigorous attention to detail, has earned her the trust of students and parents seeking educational financial help. Blessy's passion for empowering individuals through education drives her dedication to developing customised solutions and ensuring that aspiring students can attain their academic goals.","url":"https:\/\/fly.finance\/blog\/author\/blessy\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#faq-question-1687777026551","position":1,"url":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#faq-question-1687777026551","name":"Q1. What is the difference between NBFC and banks for education loans?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Ans. An NBFC cannot accept deposits that are repayable on demand while a bank can. There are many differences between NBFC vs bank education loans. Banks usually have a list of approved educational institutions and provide education loans for the same. An NBFC is more flexible. Students just have to make sure that the course that they are applying for is provided by the university.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#faq-question-1687777028835","position":2,"url":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#faq-question-1687777028835","name":"Q2. Which NBFC is the best for education loans?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Ans. Avanse Financial Services, InCred, Auxilo, and Prodigy Finance are some of the best NBFCs for education loans to study abroad.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#faq-question-1687777030105","position":3,"url":"https:\/\/fly.finance\/blog\/education-loan\/nbfc-vs-bank-education-loan\/#faq-question-1687777030105","name":"Q3. Why do people prefer NBFC over banks?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Ans. NBFCs are preferred over banks as they provide course flexibility and provide interest rates suitable for a borrower.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/5886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=5886"}],"version-history":[{"count":9,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/5886\/revisions"}],"predecessor-version":[{"id":21089,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/5886\/revisions\/21089"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/5887"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=5886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=5886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=5886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}