Loan For Education


EDUCATION LOAN


YOU have to worry about getting an Education Loan.


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The education loan will not only cover the cost of the tuition, but also almost all the expenses involved in the pursuit of academics. We will provide you assistance to avail bank loan so that you don't lose an opportunity to study in an instituttion of your choice. Our Financial Consultant will make sure that starting from the loan application, paperwork, loan approval and final disbursement stages, the advisor will guide you in every step. This will ensure that you have 100 per cent peace of mind as your children pursue their education.

How to get an education loan?

In India, most of the national private banks offer educational loans. The student has to take admission to a recognized course and the bank funds the cost of education including admission, hostel costs and other associated charges. The borrower has to fulfill various conditions imposed by the bank to be eligible for a loan. Again, the conditions imposed differ from bank to be eligiible for a loan.again the condition imposed differ from bank-to-bank.


EDUCATION LOANS(SBI STUDENT LOAN SCHEME)



A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

Eligible Courses


a. Studies in India:


• Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc

• Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc

• Teacher training/ Nursing courses approved by Central government or the State Government

• Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping

• Vocational Training and Skill Development Study Courses will not be covered under the regular Education Loan Schemes. A separate scheme for ‘Loans for Vocational Education and Training’ has been launched which covers financing for such Vocational courses

b. Studies abroad:


• Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities


Expenses considered for loan

• Fees payable to college/school/hostel

• Examination/Library/Laboratory fees

• Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers- essential for completion of the course (maximum 20% of the total tuition fees payable for completion of the course)

• Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tuition fees for the entire course)

• Travel Expenses/Passage money for studies abroad

• Cost of a Two-wheeler upto Rs. 50,000/-

Any other expenses required to complete the course like study tours, project work etc.


Amount of Loan

• For studies in India, maximum Rs. 10 lacs

• Studies abroad, maximum Rs. 30 lacs


Processing Fees

• No processing fee/ upfront charges

• Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money


HERE IS FEW EDUCATION LOAN LINK

http://www.credila.com/student_loan_process.html



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