Maharashtra, Kerala, Andhra Pradesh among top states in education loan uptake; SBI top lender

Among PSBs, the State Bank of India (SBI) was the largest lender, disbursing Rs 32,311.02 crore in student loans over the three-year period. It was followed by Union Bank of India (Rs 14,558.77 crore), Bank of Baroda (Rs 8,468.53 crore), Canara Bank (Rs 7,094.19 crore) and Punjab National Bank (Rs 5,004.71 crore).

SBI, despite being the largest lender, maintained relatively stable GNPAs at Rs 372 crore (2023), Rs 382 crore (2024), and Rs 336 crore (2025) (representative image/ AI-generated)

Maharashtra, Kerala, Andhra Pradesh and Tamil Nadu have ranked among the top states in the disbursal of education loans by public sector banks (PSBs) over the last three financial years between 2022-23 to 2024-25, according to data presented in the Rajya Sabha on Tuesday.

The figures, provided by the Reserve Bank of India (RBI) in a written reply to a question by MP Neeraj Shekhar, show that between FY 2022-23 and 2024-25 (provisional), PSBs sanctioned a total of Rs 11,426.47 crore in Maharashtra, Rs 8,937.78 crore in Kerala, Rs 8,101.06 crore in Andhra Pradesh, and Rs 7,198.63 crore in Tamil Nadu.

At the other end of the spectrum, states and UTs like Lakshadweep (Rs 0.17 crore), Mizoram (Rs 9.93 crore), Arunachal Pradesh (Rs 10.40 crore) and Nagaland (Rs 19.76 crore) recorded the lowest education loan disbursals.

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States by disbursal (FY 2022–23 to 2024–25)

Sl No	State/UT	Amount Disbursed (Rs Crore)
1	Maharashtra	11426.47
2	Kerala	8937.78
3	Andhra Pradesh	8101.06
4	Tamil Nadu	7198.63
5	Telangana	6178.6
6	Karnataka	5721.19
7	Uttar Pradesh	3461.08
8	West Bengal	3156.16
9	Ladakh	2784.27
10	Gujarat	2315.07
11	Haryana	2306.13
12	Madhya Pradesh	2267.88
13	Rajasthan	1990.38
14	Punjab	1677.69
15	Delhi	1477.21
16	Odisha	1303.35
17	Uttarakhand	1261.53
18	Bihar	1201.35
19	Jharkhand	1006.64
20	Goa	863.51
21	Himachal Pradesh	842.22
22	Chhattisgarh	611.03
23	Assam	499.74
24	Jammu and Kashmir	265.88
25	Chandigarh	224.26
26	Puducherry	185.48
27	Meghalaya	163.52
28	Tripura	82.21
29	Manipur	47.59
30	Sikkim	40.95
31	Dadra & Nagar Haveli and Daman & Diu	29.48
32	Andaman & Nicobar Islands	19.78
33	Nagaland	19.76
34	Arunachal Pradesh	10.4
35	Mizoram	9.93
36	Lakshadweep	0.17

Bank-wise lending leaders

Among PSBs, the State Bank of India (SBI) is the largest lender, disbursing Rs 32,311.02 crore in student loans over the three-year period. It was followed by Union Bank of India (Rs 14,558.77 crore), Bank of Baroda (Rs 8,468.53 crore), Canara Bank (Rs 7,094.19 crore) and Punjab National Bank (Rs 5,004.71 crore).

Other notable contributors include Indian Bank (Rs 2,974.78 crore), Bank of India (Rs 1,952.94 crore), and Central Bank of India (Rs 1,277.27 crore). Punjab and Sind Bank disbursed the least among PSBs, at Rs 542.42 crore.

Bank	Amount Disbursed (₹ Crore)
State Bank of India	32311.02
Union Bank of India	14558.77
Bank of Baroda	8468.53
Canara Bank	7094.19
Punjab National Bank	5004.71
Indian Bank	2974.78
Bank of Maharashtra	1956.06
Bank of India	1952.94
Central Bank of India	1277.27
Indian Overseas Bank	960.44
UCO Bank	587.28
Punjab and Sind Bank	542.42

Repayment and NPAs

The RBI data also shed light on repayment stress. While aggregate gross non-performing assets (GNPAs) in the education loan segment have declined for several banks, they remain significant for certain lenders.

SBI, despite being the largest lender, maintained relatively stable GNPAs at Rs 372 crore (2023), Rs 382 crore (2024), and Rs 336 crore (2025). The data for March 2025 is provisional.

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Bank	GNPA March 31, 2023 (Rs Crore)	GNPA March 31, 2024 (Rs Crore)	GNPA March 31, 2025 (Rs Crore)
State Bank of India	372	382	336
Union Bank of India	637	644	336
Bank of Baroda	63	98	121
Canara Bank	843	789	322
Punjab National Bank	893	733	431
Indian Bank	919	579	277
Bank of Maharashtra	17	9	3
Bank of India	291	273	233
Central Bank of India	358	124	129
Indian Overseas Bank	944	343	123
UCO Bank	97	28	21
Punjab and Sind Bank	13	12	5

The government stated that state-wise GNPA data is not maintained by the RBI.

The data points to a concentrated demand for education loans in southern states, mostly driven by high enrolment in professional courses and overseas education. The decline in NPA levels for several banks suggests improved repayment performance, though the absolute amounts remain substantial.

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