Though sounding common education is the key to greater opportunities in life. A higher percentage of the jobs today require vast education or bit of knowledge about certain fields. Though some might say about having creative brains can help you maneuver in life in most case you still have to learn about your business or work station to succeed.
With that settled, many are the students who aspire to have scholarships and student either in the local University or abroad. India being of the countries with highest population, offering scholarship to all the needy and aspiring student might be tricky PF Balance Check without UAN / PF Number in epfindia.gov.in website This sounding to be dreams shutdown for some students.
However, banks and other financial institutions will brighten the future for Indian students who still have hope of studying abroad. Almost all the Indian banks have the chance for study or education loan as we shall give the list below.
Features for all Education Loan
- The education loan is meant to cover: tuition fee, travel fee, library fee, material fee, caution plus projects.
- Banks gives education loan on the basis of the borrower offering 5-15% of the loan give.
- The students should be 18- 35 years to acquire educational loans for any University.
- The loans cover all courses without discrimination.
- The banks offer moratorium period to every borrower, where they will start paying interest and normal loan from when the dates begin.
- There two ways to pay for the loans either ECS or postdated cheque.
- Most banks give 7 years’ repayment period.
- Before receiving the loan one has to have co-applicant, who can assist in case there is a problem. They have to be closely related to the borrower.
- The banks don’t take any security for loans up RS 4. Beyond this a third party guarantor of security will apply.
Education Loan providers in India
- State bank of India (SBI)
The SBI bank has great offers to student aspiring to study outside India. It doesn’t discriminate course and takes on all job oriented courses for graduate and postgraduate degrees plus diploma courses. The loan will cater for all expenses tuition fee, exams projects and all the scholarship detail. They offer RS 30 maximum taking collateral for loans above RS 7.5. they don’t have moratorium period but loans are paid after the first year when the course is completed up to 15 years
- Axis bank
The bank has wonderful interest which attract many students who want to study abroad. The bank offers loans on both technical and professional courses. The bank gives a maximum of RS 20 covering all the education expenses. Where collateral is given for loans above the RS7.
- HDFC bank
This one of the best bank offering loans with wonderful interest rates and repayment period. The bank gives loans without discriminating the courses take. It caters for all the educational requirements giving minimum of RS 20 lakhs. Its flexible in all terms and takes ages16-35 years.
- Punjab national bank
The bank has an educational scheme “PNB udaan “. The scheme caters for graduate, postgraduate and diploma courses which are guaranteed for job openings. The money covers all the education needs and has a year’s ‘moratorium period. The payment period is flexible going up to 15 years.
- Canara bank
The loan is given to student pursing all graduate, post graduate and diploma courses in recognized Universities. They have flexible terms and pays for all educational needs. The bank gives up to RS 20 maximum and takes collateral for RS 7.5.