Rate of Interest
Before taking education loan, you should also check the rate of interest carefully. Because ultimately you have to repay this loan, hence check the rate of interest carefully before approving the loan. Mainly the rate of interest is higher in private banks and lower in public banks. Therefore, according to you, take a loan from a good bank only where the rate of interest is low.
After rate of interest you must check out comes the loan tenure. Your education loan also depends on the amount and duration of loan you want to take. Now you have to see how many days will it take for you to repay the loan as per your livelihood. You can decide the loan tenure as per your job career.
Processing Time and Processing Fee
When you go to take an education loan from a private or public bank, it has its own processing fee and processing time. Thus, you should go to such a lender where the work can be done easily so that both your time and money are saved.