Advice

Which bank provide Education loan easily?

Which bank provide Education loan easily?

Compare Top Education Loan Offers 2021

Name of Bank Interest Rate (p.a.) Loan Amount
Axis 13.70\% to 15.20\% Up to 75 Lakh
Bank of Baroda 7.85\% to 9.85\% Up to 4 Lakh and above
HDFC 9.55\% to 13.25\% Max Apr
Tata Capital 10.99\% onwards Up to 30 Lakh

How can I get approved for Education loan?

Documents required for Education Loan

  1. KYC documents.
  2. Bank Statement / Pass Book of last 6 months.
  3. Optional – Guarantor Form.
  4. Copy of admission letter of the Institute along with fees schedule.
  5. Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses.

What is the minimum loan amount for Education loan?

Education Loan Interest Rate in 2021

Interest Rate 8.40\% onwards
Minimum Tenure (excluding grace period) 5 years
Moratorium Period (after course completion) 1 years
Minimum Loan amount ₹ 50,000
Maximum Loan without collateral ₹ 4,00,000

How many days will it take to get education loan?

It is best to know as much as possible about the course and the institutions that you have chosen. It takes around 15 days for an educational loan to be sanctioned. Once it has been sanctioned, you will get a promissory note which you will have to sign. In most cases, banks pay the institution directly and or to you.

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Can I avail two education loans?

Well, the answer to the above question is – Yes, a student can be eligible for a second education loan. For this, they can either apply for a second education loan from the bank they already have taken their first loan from or they can apply to a different bank.