How much education loan can I get India?
In general, you can get up to 4 lakhs of educational loan for higher studies without any collateral. Under education loan scheme, you can get a maximum of 15 lakhs for studies in India and more 25 lakhs for abroad studies.
What are the requirements for education loan in India?
Education Loan Eligibility Tabular representation
| Particulars | Eligibility |
|---|---|
| Nationality | Indian |
| Age | Minimum- 18 years Maximum- 35 years |
| Academic record | Proven- good |
| Qualification | Pursuing graduate/postgraduate degree or a PG diploma. |
Which Indian bank is best for education loan?
Compare Top Education Loan Offers 2022
| Name of Bank | Interest Rate (p.a.) | Processing Fees |
|---|---|---|
| SBI | 10.25% onwards | Up to Rs.10,000 |
| Axis | 13.70% to 15.20% | Nil to Rs.15,000 + GST |
| Bank of Baroda | 6.90% to 10.85% | 1% of loan amount up to Rs.10,000 |
| HDFC | 9.00% to 13.86% | Up to 1% of loan amount + tax |
Is getting education loan easy in India?
Applicable for all courses: Education loan can be used to pursue all types of courses — graduation, post-graduation, diploma courses, vocational courses — whether in India or in foreign universities. Easily available: Education loans are widely and easily available. To study abroad, the loan amount goes up to Rs.
Can students get loans after 12th?
An Education Loan is basically a form of financial aid provided by banks and NBFCs to students to meet their expenses related to education. These loans can be availed after completing 10+2 (12th Standard) to students who want to do a professional or technical course.
Is education loan a good idea?
In either case, an education loan is a good idea and a commonly sought after resort. Pursuing higher studies usually involves high fees and an education loan comes in handy at this point. Banks provide education loans for graduation/PG, diploma or professional courses, at attractive interest rates.
What documents are needed for education loan?
Documents required for Education Loan
- KYC documents.
- Bank Statement / Pass Book of last 6 months.
- Optional – Guarantor Form.
- Copy of admission letter of the Institute along with fees schedule.
- Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses.
Is student loan a good idea?
What is the best education loan in India?
I had taken an education loan of Rs 10 lakh for my son. I want to take some more loan education loans and buy some devices. Can I get a top-up education loan? —Varun Dandola Yes, it is possible to avail a top-up loan on the education loan you have
Which Indian Bank is best for educational loans?
– Indian national – Age: Up to 35 years for non-employed individuals and up to 45 years for employed individuals – Proof of admission into the educational institution – Valid educational certificates showing a good academic record (of more than 50% marks) – Guarantor’s income proof or credit history – Passport/i20 form/visa in case of studies abroad
How I can apply for an education loan in India?
The main determinants are the fees of the course to be pursued and the applicant’s annual family income.
What is the rate for an education loan in India?
Education loan is offered by leading banks in India to help students achieve their academic dreams. Education loan Interest rates start from 6.85% p.a. with loan tenures of up to 15 years. Education loans are offered for higher education in both India and abroad. What courses are eligible for an education loan will be decided by the lender.