| The students who want to study in India can avail a maximum of Rs.7.50 Lakh of education loan and Incase the student who wants to study abroad can avail Rs.15 Lakh of educational loan. The candidates who are eligible for loans are all graduate, Post graduates and all the professional courses approved by the state government, central government and the foreign universities. Many colleges anduniversities have been tied up with the bank for the benefit of the students. The education loan covers the cost of school/college fee, hostel Expenses, cost of books etc. Apart from the said expenses any other expenses incurred during the study period can also be considered. The sum of money offered is against the guarantee, which can be given by Uncle, Neighbor or friend standing has a guarantee for the full amount of Loan. |
The education loan should be repaid within
5-7 years in equated monthly installments (EMIs), commencing 12 months after
course completion or 6 months after getting the job, whichever is earlier.
Incase the students who want to avail overseas education loan for higher
studies a loan of 7 lakhs or above, the sum of money is usually given against
fixed deposits, NSC certificates and property worth the loan amount.
