Education Loan

Coverage Area , Eligibility , Re - payment

Eligibility -Students age 16 to 35 years. His admission into the Institute of Indian citizens and have been confirmed. The Bank can also rules, such as the Institute Recognized bank list, the student's academic record and a regular source of income to the Guardian. Recognized list of banks that are at the Institute recognized by UGC or AICTE.

Coverage Area - Usually education loan tuition fees, examination fees and get to the hostel. Some banks and other amount also included in Study Abroad aside some banks will also include the air ticket fare. Lone Amount candidates could not get directly to the Institute. Education loan is given for those courses, which consists of more than 12 months. Some banks give loans for payment seat. Banks usually part-time, do not give loan for distance or online programs.

Lone re - payment - Some banks are subject to repay the loan immediately study has been completed, but after reading some banks give little gap, so in the meantime you can find a job and give you the EMI.

Important Documents - Identity of student to take the plunge, Edge, academic records and Address Proof taken. His guardian or parent (who - are Applicants), his relations with, their income is taken and proof of address. In addition, the Institute has also taken a copy of the admission letter. Study Abroad Visa Approval for the students, GRE, GMAT test scores and travel related documents etc. needs to be stored.

Loan Amount - Usually banks in India Study Abroad Study in the 5 to 15 million and a loan of Rs 25 lakh to give 20. Less than four hundred thousand loan guarantor is required.

Interest rate - The interest rate is usually between 11 to 14 per cent, but some banks charge more interest. Many banks interest rates are discounted for Girls. State Bank of India from 11 to 13.75 per cent interest on education loan charges. The SBI Special education loan rates for girls are kept fixed. Private sector interest rates on education loan giant HDFC Bank is currently 12 to 14 percent annually.

Axis Bank loan rates are between 15.50 and 18 per cent.

Tax rebate - Many banks take loan amount processing fee of up to 2 per cent. Income Tax Act 1961, Section 80 - E Student loan interest payments under the tax rebate on the purchase. Do not miss any document, effective way to create a checklist.