An Education Loan aims at sponsoring the College Expenses of an individual. Anybody who wishes to study Abroad or even in a domestic Educational Institute can opt for a student or Education Loan from any of the recognised Banks.
The basic motive behind the concept of Education Loan was to help the aspirants economically and not let them murder their
dreams due to some economic constraint. Added to this, such Loans have only helped many of the students in going overseas
without worrying about any financial limitations.
Education Loan functions by helping students with their Tuition
fee, dorm room fee, Laptop, Books, Stationery, Travel for as long as they are studying in a College.
Why Education Loan?
Education is Expensive- It is the insuffient money for your Education as it is a matter of Instant availability. A good Education is Expensive and the Expenses aren’t changing in a predictable curve.
Specialised Help-The extra amount for caution deposits, library fees, building deposits, laboratory fees, hostel fees etc. It’s more organized and seamless with an Education Loan.
Widely and Easily Available - Conforming to some basic requirements and confirming your ability to repay the borrowed amount is all it takes to get on-board.
Timely Assistance - There is a timely assistance for you to pay your semester fees as sooner as possible.
Features & Benefits of Education Loans:
When it comes to a complete Education Loan, the features and benefits offered are the designated deal makers. Commonly, the
following conveniences are offered as part of the Education Loan-Universally available. Anyone with a will to study can apply.
Education Loans are provided to pursue all types of academic Courses, in India and Abroad. The Courses include graduation,
post-graduation, vocational Courses and other certificate
Courses.Loan amounts can vary from a minimum of Rs.10 lakhs to a maximum of Rs.15 lakhs. For Education Abroad, Banks will provide Loans to the quantum of Rs.20 lakhs.
The applicant’s annual family income and the Course pursued are primary determinants for the applicable Loan amount.
Usually, female students are offered discounts and/or lower Interest rates when it comes to Education Loans.
Government sponsored subsidy schemes, such as ‘Central Scheme to provide Interest subsidy (CSIS)’ help students from the economically backward sections of society avail the benefits of a robust Loan for Education.
The applicant need not repay the borrowed amount immediately.
Post the completion of the Course, the repayment tenure can stretch upto 5-7 years.
Generally, Loans below Rs.4 lakhs do not require a security or guarantor.
Education Loan is availed by students to fund their future Education Expenses. The Loan borrower is not needed to repay the Loan immediately. Post the completion of the Course, the repayment cycle begins. The Education Loan is usually provided
to the applicant in the form of a draft payable to the chosen Institution.
BENEFITS OF LoanS
Benefits of Education Loans
Student become independent
Build a base of Good credit history
Receive tax benefits under sec 80 E
For funding monthly living Expenses
Purchasing Laptop or desktop computers
Rate of Interest : 10-12 %
Term : 5-7 years
Security : Up to Rs. 4 Lakhs: No Collateral is required, but a parent needs to be the co-applicant. Between Rs. 4 Lakhs to Rs.
7.5 Lakhs: The Collateral should be a third party guarantor along with Collateral security from the parents. Above Rs. 7.5 Lakhs: The parents need to be co-borrowers and tangible
Collateral security is required.
ID proof and Address Proof
Bank Statement/Pass Book of last 6 months
Copy of admission letter or the Institute along with Fees SchEdule
Mark sheets/pass certificates of S.S.C., H.S.C, Degree Courses
*More documents can be asked based on student profile and Course chosen.
Download our Apps :
Other Blogs Coming Soon :::
Which Bank is best to take an Education Loan in India with
How do I get an Education Loan?
What would happen if I don't repay my Education Loan?
How do I repay my Education Loan?
Can I get another Educational Loan if I have already have one?
What is the policy of Education Loan?
What is the process for availing an Education Loan under the
Delhi Government’s Education Loan scheme?
Can I trust Avanse Education Loans?
Career Counselling for Indian Students
Career Guidance After 10th [What After 10th ]
Career Options After 12th [Courses After 12th | What After 12th
Career After Graduation
Career Guidance for Professionals
Aviation Career Selector
Commerce Career Selector
Humanities Career Selector
Professional Skill Index
Competitive Exam Calendars
Engineering Entrance Exam
Medical Entrance Exam
Management Entrance Exam
Law Entrance Exam
Design Entrance Exam
Mass Comm. Entrance Exam
Tourism and Hotel Management Entrance Exam
Study in USA
Study in Europe
Study in UK
Study in Australia
Study in New Zealand
Study in Singapore
Study in Canada
Study in Dubai
Study in Hong Kong
Career Counsellor Online
Career Experts India
Career Counselling Franchise
Helpdesk for Schools
Career Counselling for School Students
Career Guidance for Students
Career Counselling Centres in India -
Career Counsellor Jobs
Post Career Counsellor Jobs
Psychometric Career Assessment
What to do after 10th
Choose Right Engineering Branch After 12th
Ideal Career Test
Psychometric Assessment for Vocational Careers
Career Counselling Services For School
Career Counselling Services For 9th Class
Career Counselling Services For 10th Class
Career Counselling Services For 11th Class
Career Counselling Services For 12th Class
Best International Education Career Guidance, International