Find Suitable Education Loans in India
The hike in fees by many premier institutes in India and the high cost of Master degrees and PhD programs abroad had earlier halted many economically weak illustrious students from pursuing their dream careers. Thanks to numerous scholarship schemes launched by the institutes and easy affordability of education loans in India, no budding talent have to forcefully give up their dream and prematurely pick up a mediocre job. Also with the world experiencing one of the worst economic slowdown, taking advantage of education loan in India many individuals could upgrade their skills which will surely add on to their market value.
If you too are looking for education loan in India you can take help of many nationalized as well as private banking institutes. SBI or State Bank of India is one of the premier nationalized banks offering number of flexible education loan to Indian nationals that can be used for studying in India as well as abroad. To learn more about the education loan in India offered by this bank read on:
- Any individual joining any professional course or a course that can guarantee them an employment after completion could become eligible for enjoying education loan in India. Also these courses should be approved by AICTE, UGC or the government of other countries which is mandatory before the loan is processed.
- Education loans in India covers the total expenditure which would be made by the student including the college fees, amount spent on books and stationary, money spent on accommodation and also other miscellaneous expenditures which may include library fees, examination fee, building fund, caution fund as well as travlling expense if you are joining a course outside India.
- Applicant can get a loan of R10 Lacs when studying in India and could apply for loan up to 20 lacs for studying abroad. No security may be required for the loans up to the range of 4 lacs but a third party guarantee may be required for the loans above this amount. For loans above 7.5 lacs applicant may have to provide material collateral security. Parents, parent in laws, spouses could also become a co-obligate while taking education loans in India.
- Borrower has to start repaying the loan, six months after getting some form of employment or maximum of 1 year after the course is complete and have to repay the entire amount in 5 to maximum 7 years.
Good education is everyone’s right and make your dream possible by opting for education loans in India.
