Every should dream high. Educational/student loans are provided by all the banks now-a -days with reasonable interest rates and good span of time to repay the loan after the student got employed. Now any body can make their dreams come true irrespective of their financial status. So find out the details of interest rates,terms and conditions, eligibility, repay time,loan amount,coverage,benefits for applying student educational rates in India.
For the educational loan to be sanctioned there will be some eligibility criteria to be satisfied to avoid fraud/misuse and also to satisfy the policies of particular bank.They are not so tough for a genuine candidate Eligibility changes depending on the loan amount and education you are going to pursue. Every bank has its own policies and eligibility criteria to be satisfied.
How to Apply for Education Loans in India
If you have a dream to study more and if your financial status is not so supportive plan for a educational/student loan. Collect all the required documents to prove your identity and study. Estimate the amount of loan you need for your complete study including books, course fee (some banks even provide hostel fee) for your total period of study.
Next thing you have to do is collect the information regarding the interest rates and repay time for the all the banks. Decide which banks is providing lowest interest rate and reasonable time span as per your requirement. Go to that bank and meet the bank manager and note down eligibility criteria documents required for the application. Know everything keenly . If there is a bank insurance option don’t hesitate to go for it. It is always mandatory to take insurance for the student/educational bank loan.
One who is taking educational loan from banks in India should be aware of the importance of insurance . Insurance is important because at any cirumstances study should not be interrupted on any case. We may not except what changes life brings to us but it is mandatory one should be prepared to face any kind of situation and complete his course. Never think of a small amount for insurance and do mistake.
Student/educational loans are available for all Graduate, Post-Graduate, Engineering, Medical, MBA , Vocational Courses (Multi-Media, ERP) .Loan amount will be directly payed to the educational institution by the bank as per the institutions schema. Loans for study abroad /overseas education can also be availed . Educational/student loan can be availed prior to joining or even in middle of the course ( after completion of one year of course but not after all the course completed) . For loan amount below 7.5 lakhs there is no need of surety but for above that amount there should be surety and co-applicant.