How to get education loan after 12th
Education Loan Documentation
- Duly filled and signed application form with affixed photographs.
- 2 photographs of passport size.
- Copy of exam mark sheets of 10th/12th or latest education certificate.
- Statement of course expenses/cost of study.
- Aadhaar Card and Pan Card of the student and Parent/ Guardian.
How much education loan can I get?
In general, you can get up to 4 lakhs of educational loan for higher studies without any collateral. Under education loan scheme, you can get a maximum of 15 lakhs for studies in India and more 25 lakhs for abroad studies.
Is it easy to get a student loan?
Getting a student loan is a fairly straightforward process. You’ll apply for the loan through a federal or private lender, then wait for the funds to be disbursed to your school.
Which bank easily give education loan?
Compare Top Education Loan Offers 2022
| Name of Bank | Interest Rate (p.a.) | Processing Fees |
|---|---|---|
| Axis | 13.70% to 15.20% | Nil to Rs.15,000 + GST |
| Bank of Baroda | 6.90% to 10.85% | 1% of loan amount up to Rs.10,000 |
| HDFC | 9.00% to 13.86% | Up to 1% of loan amount + tax |
| Kotak Mahindra Bank | 11.50% to 24% p.a. | Nil |
Is it difficult to get education loan?
Easily available: Education loans are widely and easily available. In fact, they are a priority product in all banks as per the RBI’s guidelines. Varied loan amounts: Banks can offer loans anywhere between Rs. 2 lakh and Rs.
What are the 4 types of student loans?
There are four types of federal student loans available:
- Direct subsidized loans.
- Direct unsubsidized loans.
- Direct PLUS loans.
- Direct consolidation loans.
Sep 16, 2020
Can I get a student loan with no job?
Student loans without a job could fill in the gaps or pay the entire costs. Students may seek a loan from a private lender. You may also be eligible for federal aid if you qualify. Private loan lenders may offer student loans even if you’re unemployed or if you have bad credit history.
Do banks offer student loans?
Banks only offer private student loans. Before borrowing those, max out unsubsidized and subsidized federal student loans because of their low fixed rates and consumer protections. You can qualify for federal student aid by completing the Free Application for Federal Student Aid, or FAFSA.
Is education loan a good idea?
In either case, an education loan is a good idea and a commonly sought after resort. Pursuing higher studies usually involves high fees and an education loan comes in handy at this point. Banks provide education loans for graduation/PG, diploma or professional courses, at attractive interest rates.
How much percentage is required for study loan?
Education Loan Eligibility Tabular representation
| Particulars | Eligibility |
|---|---|
| University Applied to | Recognised – In India/Abroad |
| Admission Status | Confirmed |
| Security | Tangible collateral or guarantor- depending on the loan amount and income source. |
| Minimum Interest Rate | 8.40% p.a. |
How do I repay my education loan?
Repayment of education loan is not a big process as such. You just need to get in touch with your bank manager who will take note of your account details and start the repayment on an auto deduction mode. You can also check out the various education loan repayment schemes available in India.
Can I pay education loan at once?
Repaying education loan at one go eliminates all the interest that will be paid month-by-month adding to the total expense of the loan. While pre-payment of student loan at one go will only incur a nominal processing fees it will save you from interest rates levied on your loan.
Can I pay my student loan early?
Yes, you can pay your student loan in full at any time. If you are financially able to do so, it may make sense for you to pay off your student loans early. Lenders typically call this “prepayment in full.” Generally, there are no penalties involved in paying off your student loans early.
Is it good to pay education loan early?
An education loan usually attracts an interest rate ranging from 11 per cent to 15.5 per cent. With that, if the EMI outgo amounts to 50 per cent of one’s current monthly salary, then according to experts one should definitely consider paying off the loan at the earliest.
Can I get education loan without interest?
However, can education loans in India be actually interest-free? The answer is no. Or at least, technically, you cannot avail of an interest-free education loan unless you have availed some economic benefits or academic subsidies from either the government or your institution.
How many years do you have to repay student loans?
The standard repayment term on a federal student loan is 10 years. The repayment term on private student loans vary from 5 years to 15 years. Borrowers can choose alternate repayment terms which reduce the monthly loan payment by increasing the repayment term. These repayment terms range from 12 years to 30 years.
What are the documents required for education loan?
Documents required for Education Loan
- KYC documents.
- Bank Statement / Pass Book of last 6 months.
- Optional – Guarantor Form.
- Copy of admission letter of the Institute along with fees schedule.
- Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses.
Do Marks matter for education loan?
Factors taken into account: When banks receive an educational loan application, the main factors they would consider are: Academic background of the student: The bank study through the track record of marks, credits, and achievements of the applicant.
Is Form 16 mandatory for education loan?
In case you wish to file your income tax returns without Form 16, you will have to refer to your bank statements, payslips, home loan or education loan certificates, tax-saving investment proofs, Form 26AS, etc.
Can I get education loan for IAS coaching?
No there is no education loan for UPSC exam preparation.
Can I get 50000 education loan?
You can avail a minimum loan amount of Rs. 50,000 along with various other benefits. Some of the features of availing an Educational loan from Axis Bank are given below: You can avail a maximum loan amount of Rs.
Does Bank provide loan for coaching?
The banks that give such loans now areCorporation Bank (Corp-Tutor Fee loan) and Central Bank of India (Cent Comp-Exam loan). Of course, all other banks will gladly pitch their personal loan and tell you to pay the coaching class fee using that.
Which is best for IAS coaching?
Top 10 Civil Services Coaching Institutes in India
| Rank | Name | City |
|---|---|---|
| 1 | Rau’s IAS Study Circle | Delhi, Jaipur, Bangalore |
| 2 | Chanakya IAS Academy | Delhi |
| 3 | Sathya IAS Academy | Chennai |
| 4 | Brain Tree India | Hyderabad |
What is the salary of IAS?
Rs 56,100 per month
According to the 7th Pay Commission, an IAS officer’s basic salary is Rs 56,100 per month. They are also provided with a variety of other benefits, such as travel and housing allowances. According to reports, the IAS officer gets more than Rs 1 lakh per month in total salary.
Where is srushti Deshmukh posted?
She has been allocated to the IAS cadre on the basis of Civil Services Examination (CSE) – 2018 to her home state Madhya Pradesh, as an insider. Her current posting is in the Dindori districts of Madhya Pradesh, India.