Education loans.

Higher education is needed to fulfill your dreams, but sometimes due to financial condition, people can not study higher studies which they regret for lifetime, but if you want, you will be able to fulfill your dreams. Loans - Higher education can take higher education through mediation.
But before learning about education, it is very important to know how to get education loan, what is the scope of taking loan, for whom education loan can be paid, education loan, how much interest is on loan, bank What is the processing fee for taking a loan from, what is the best scheme for Education Loan, besides which important documents do you need to take education?

We will make you available in this article, along with all these information and other related information. By reading, you will understand how to get an education loan easily.

Education loans.

Eligibility for Education Loan

Students from 16 to 35 years can get an education loan.
You can take education loan only if you are a citizen of India. At the same time, before taking education loan you will have to take admission in any university or college in the country or abroad only then you will get education loan or else you will not be able to take education loan.

Who gets loan from bank?

Education loan can be taken by only those people who can pay it because the banks also check the ability to repay the loan holder and still pass the education loan.

The education loan can either be the parent of the student or he can return to his bank after completion of his studies. Apart from this, the bank also has a guarantor condition before giving loan to education loan. This guarantor can be a close relative or a guardian of the person taking it.
Education Loan Details
The bank from which you take education loan, the bank provides financial assistance to you to meet the expenses incurred for any course. Let us tell you that the education loan covers the courses taught in the country and abroad.

For classes like Class 12th in India, Graduation, Post Graduation, PhD, Engineering, Medical, Agriculture, Law, Dental, Management, Computer, computer courses of prestigious institutes recognized, ICWA, CA etc. Education loan can take.

On the other hand, if you are taking loan for reading abroad, you can get education loan from any reputed university job oriented professional or technical course, graduation, post graduation, MCA, MBA, MS etc.

What expenses do education loans get?

There are also expenses incurred during education loan under study. Such as schools, colleges and hostels fees, examinations, library and laboratory fees, books, equipments, installments, uniform purchases, travel expenses abroad, travel expenses, study tours, project work, thesis etc.

Amount for education loan

For education in India, loans upto Rs 4 lakh are easily provided by the loan bank, but if the amount is more than 4 lakh, then the student has to arrange the total education expenditure or 5-15% of the required amount. . Let us know that this amount is 5% in relation to the domestic course and 15% in relation to the foreign course.
Documents Required for Education Loan
To take an education loan, you have to keep some necessary papers, through which you can pass this loan and you will be able to fulfill your Higher Study dream.

  1. Admission certificate

  2. Prospectus of the Study Course

  3. Loan Application Form

  4. Age proof certificate or mark sheet of tenth

  5. Passport site photographs

  6. Marksheet of last education

  7. Bank passbook

  8. ID proof

  9. PAN card (guardian and student)

  10. Aadhar card (guardian and student)

  11. Parent's Income Proof or Income Certificate

  12. Guarantor's income certificate, bank statement, copy of income tax return

  13. University letter if you are going abroad

  14. Visas and Travel related papers regarding foreign course

  15. Detailed list of expenditure shown in the loan application

  16. If the student has resorted to any scholarship, then the copy of the letter should also be given.

  17. Apart from this, if you are taking any kind of exemption from the bank, like some banks give a discount to the interest rate or do not charge pre-payment in the form of loan, then you need to give some necessary certificates in this regard too. Will be

Security requirement for taking more loan

If students take loans up to 4 lakhs then they can take loan jointly with their parents. There is no need for any kind of securities separately. If this loan amount is between Rs. 4 to 6.5 lakhs, then a third person may be required as the guarantor. But if the loan amount is more than 6.5 lakh, then banks can ask to place any asset in the form of securities as collateral. You can also use Property, Fixed Deposits, LIC bond for this.

Education Loan Interest Rates

Nowadays, most banks provide education loan from 9.30 to 13% interest rates. Most education loans are for a period of 15 years. While the interest can be determined on the basis of fixed or floating rates.

Education loan formation process?

The repayment of education loan means that the bank gives you time till the end of the education course. The loan installment is started after one year of completion of the course or six months after the job is done.

Income tax rebate

The interest paid on education loan (interest) is exempted in section 80E of Income Tax.


You can complete your dreams by getting higher education through education loan. Therefore it is very important to pay full financially to the education loan taken in the future.

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Education-loans. Education-loans. Reviewed by BlindAIM on October 30, 2018 Rating: 5

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