How To Get An Education Loan In India, Bank Procedure are written here. Getting an educational loan in India is quiet simple and easy. If you are looking for educational loan, 1st of all you have to decide for which college you are going to take admission for under graduation degree. You have to go in college in which you are willing to take admission, and meet representative from banks. They are available on admission days in every college to guide needy students in India. If you don’t find any persons you should straight go to the bank where your parents have an account already, and discuss about the possibilities of taking up the loan. Secondly make sure you talk everything about timeline for returning money, interest rate and other formalities. There are a lot of banks who provide educational loan to deserving students. In India SBI bank is the best bank for taking educational loan because it has low interest rates as comparing to others. They provide convenient educational loans for deserving students. By following this procedure you can easily get educational loan in India.
Education Loan Eligibility:
Indian banks only provide educational loans to those who have Indian Nationality. Outsiders do not meet any kind of bank loans.
Educational loans provide on merit base, one should score good marks to get loan. He should have secured a professional course in India through entry test.
Education Loan Purpose:
Educational loans basic purpose is to meet the cost of education fees and other charges (exam fee, purchase books, traveling expenses) related to education. In case of studies abroad, travel expense and other expenses related to education. Education loans can be also taken for study insurance.
Maximum Amount of Loan:
Every bank has different policy for educational loans. If you are willing to study in India you can get up to 10 Lac, and if you want to go abroad for higher studies you can get up to 20 Lac.