Education Loan

Punjab National Bank Education LoanMaximum Loan Amount: Need BasedMaximum Loan Tenure: 15 YearsCollateral: Nil Up to Rs.7.5 lakhMargin: Nil Up to Rs.4 lakhOffers loans to Indian residents and OCIs/PIOs/students born abroad to Indian parents and want to pursue studies in India.No security is required up to Rs.7.50 lakhMoratorium period is course period and 1 yearSBI Education LoanNo collateral or third-party guarantee required up to Rs. 7.5 lakhRepayment to be done one year after course completionRepayment up to 15 years post the course completion + 12 monthsZero processing fees for loans up to Rs.20 lakhSecond loan can be availed for completing higher studiesAxis Bank Education LoanMinimum loan amount is Rs.50,000Maximum Loan Tenure: 20 yearsMargin: Nil Up to Rs.4 lakhCan secure loan before admission based on profile.Loan disbursal within 15 business days from the date the bank receives your complete application.Unsecured loans up to Rs.20 lakh for working professionals.Bank of Baroda Education loanMaximum Loan Amount: Rs.150lakhNo security up to Rs.7.5 lakhNo margin on loans up to Rs.4 lakhNo processing feesNo documentation chargesHDFC Bank Education LoanMaximum loan amount is Rs.1.5 croreLoan repayment tenure is up to 15 yearsEasy documentation processNo collateral required up to Rs.7.5 lakhTax benefit can be availed on education loanLoan amount will be directly disbursed to the institution based on its fee structureTATA Capital Education LoanMaximum loan amount of Rs.30 lakhCollateral: Nil Up to Rs.4 lakhRate of interest starting at 10.99%The processing fee is 2.75% of the loan amount.Choose from 3 EMI plans as per your convenience.Minimal documentation and quick approval of loans

Nationality:Indian citizensNon-Indian Residents (NRIs)Overseas Citizens of India (OCI)Persons of Indian Origin (PIOs)Students born to Indian parents abroad and wish to study in IndiaCourses:Undergraduate programsPostgraduate programsDoctoral courses and PhDsCertificate courses of 6 months or longer durationJob-oriented coursesTechnical/diploma/professional coursesInstitutes:Recognized institutions and government collegesPrivate institutes aided by governmentProfessional institutionsInternational colleges and universitiesCollateral:Collateral-free loans up to Rs.7.5 lakh from leading lendersCollateral-free loans up to Rs.40 lakh for select courses/institutions from select lendersAcceptable collateral: Residential or commercial property or plot, fixed deposits, insuranceLoan amount: Up to Rs.1 croreAbroadJob oriented courses (professional/technical) for Graduation/Post Graduation/Diploma such as MBA/MCA/MS, etc. offered by reputable institutions.Courses conducted by CIMA and CPA.

Here's what the loan amount will cover:Tuition feesHostel feesTravel expenses passage money for students studying abroadInsurance premiumCost of books/equipment/instruments/uniformExamination/laboratory/library feesCost of a computer/laptop required for course completionCaution deposit, building fund/refundable deposit supported by institution bills/receiptsAny other expenses required to complete the course such as study tours/thesis/project work

Loan financing up to Rs.1 crore available.Loan repayment tenure up to 15 years.Get Education loans for studies in India and abroad.Some lenders offer loan disbursal before applying for a Visa.Door-step service to collect required documents.Children of the bank's employees enjoy preferential rates at several banks.Certain banks offer concessional interest rates to female students.Enjoy a moratorium period of up to 1 year after course completion. During this period, you do not have to make payments on the loan.Enjoy tax benefits up to 8 years on the interest paid.

The interest you pay on your student loan can be deducted under Section 80E of the Income Tax Act of 1961. This advantage is only available to individual borrowers and is only offered for the purpose of higher education. The deduction is available to all fields of study, both domestically and internationally. It includes both vocational and academic courses.It's important to remember that the tax deduction only applies to the interest portion of the EMI, not the principle. There is, however, no limit to how many times you can claim this benefit. You'll need a certificate from your bank or financial institution that separates the principal and interest components of your EMIs to qualify for this benefit.This benefit is accessible for 8 years from the day you started repaying your loan or until the interest component is paid off, whichever comes first.

There are several ways of applying for a student loan:Online:Apply through an online platform is one considerably fortunate way to apply. You have to go to the main website. Then, fill out the form with your documents, & IDs.Additionally, You can apply with the help of a lender. It will give all the necessary details about the loan. Then, you can effortlessly produce with your application.Offline:For the offline process, you can visit the nearby branch with the required documents. You can discuss the terms of the loan, & after that, you can fill out the form and apply.Virtual AssistantTo better serve their consumers, banks and other financial organisations are turning to digital ways. Using a Virtual Assistant to clear your doubts and request assistance with the application process is one such way.

Some of the additional expenses covered by education loans are:Hostel chargesExam charges, laboratory and library chargesTravel payments for Overseas Education.Expenses for uniforms, books, and project work.Assurance required by the Education Association

Basic Application PrepareNo more printed material bad dreams. Apply for your instruction advance with ease and straightforwardness.Most reduced Interest Rates:We accept reasonable instruction. Advantage from competitive intrigued rates for worry-free reimbursement travel.Adaptable Repayment Plans:Tailor your reimbursement plan to fit your budget. We're here to form your scholastic venture sensible.No Covered up CostsStraightforwardness is key. No shocks or covered-up charges – fair clear credit outlined for you. Committing to day-by-day fabulousness with 5-6 shrewd blogs and articles on two Committing to everyday brilliance with 5-6 quick blogs and articles on two committed websites.dedicated websites.

Center on Ponders, Not Funds:- Let us handle the budgetary push. Concentrate on your thinks whereas we back your instruction costs.Build Your Credit History:- Begin building a positive credit history by overseeing your instruction credit capably.Wide Run of Courses Secured:- Seek after your enthusiasm. Our instruction credits cover an assortment of courses, giving you the flexibility to select.Career-Focused Back:- Contribute to your future career without compromising your display of money-related steadiness.