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Education Loan in India

Your dream is to continue study and you are shorted from money then you can get an Education Loan in simple steps.
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Get an education loan for pursing higher education

Education Loan Meaning

An Education Loan is a loan which is provided to students for applying to meet the financial requirements and continue study. Banks and NBFCs in India offer Education loans at lower  Interest of Rates.

Features and Benefits

There are some benefits of Education Loan: -

  • You can get a loan amount up to 1 crore for aboard students and up to 50 lakhs for domestic students.
  • 100% financing available for certain conditions.
  • Education loan covers other expenses of student such as student exchange, travel expenses, laptop, study material etc,
  • Loan repayment tenure is up to 12 years or more.

Types of Education Loans?

1.Domestic Education Loan – when student want continue the study within the country it's called domestic education loan.

2.Abroad Education Loan: -when student dream is to continue further study from out of country it's called abroad education loan.
 

Education Loan Eligibility Criteria

Education Loans are offered to brilliant and intelligent students who are not able to expenses on their high Education and belong to middle class family. The eligibility of the Education Loan is on the basis of a mark sheets of previous exams. 

Education loan eligibility criteria is given below: -

  • Applying for the Education Loan you must be a resident of India.
  • The age should be 18 to 35 years.
  • They must be undergoing a graduate/postgraduate degree or a PG diploma.

Education Loan Documents Required

Here are the necessary documents that a Student needs to get the Education Loan: -
  • Firstly, applicant should fill the application form and signature or paste a photograph on the form.
  • Copy of 10 an d12 marksheet.
  • Aadhaar Card and Pan Card of the student and Parent both.
  • Age proof
  • Declaration that no loan has been taken from another bank and lenders
  • Admission letter.

How to Apply for Education Loan via Financeseva?

To avail education loan, compare deals of all banks & NBFC's. 

Financeseva offers single platform comparison from where you can easily compare deals & choose your ideal financial partner.

A detailed comparison is shown which includes education loan schemes, interest rate,offered loan amount,maximum tenure along with education loan eligibility calculator as bank to bank things get differed.

All you have to do is click on Get Quote of your preferred banking partner, shortly concern representative will get in touch with you for further formalities.

Without collateral Education Loan

 Many banks provided an Education Loan without collateral security. This is helpful for those Students who feel helpless in providing such collaterals.

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