As a client of BangaloreAdmission.com, you don't have to worry about getting an Education Loan. Our team of chartered accountants and lawyers will assist you throughout to turn your dream into reality, without money being an hindrance. If you want to use the option, read on to get more information about Education Loans.
banks offering education loans
cash IN time
If the obstacle is cash, an education loan is the answer. The
education loan will not only cover the cost of the tuition, but also almost all
the expenses involved in the pursuit of academics.
We will provide you assistance to avail bank loan so that you don't lose an opportunity to study in an instituttion of your choice. Our Financial Consultant will make sure that starting from the loan application, paperwork, loan approval and final disbursement stages, the advisor will guide you in every step. This will ensure that you have 100 per cent peace of mind as your children pursue their education.
How to get an education loan?
In India, most of the national private banks offer educational loans. The student has to take admission to a recognized course and the bank funds the cost of education including admission, hostel costs and other associated charges. The borrower has to fulfill various conditions imposed by the bank to be eligible for a loan. Again, the conditions imposed differ from bank to bank.
What are the basic eligibility criteria?
All the information you would need about the criteria of the banks:
We will provide you assistance to avail bank loan so that you don't lose an opportunity to study in an instituttion of your choice. Our Financial Consultant will make sure that starting from the loan application, paperwork, loan approval and final disbursement stages, the advisor will guide you in every step. This will ensure that you have 100 per cent peace of mind as your children pursue their education.
How to get an education loan?
In India, most of the national private banks offer educational loans. The student has to take admission to a recognized course and the bank funds the cost of education including admission, hostel costs and other associated charges. The borrower has to fulfill various conditions imposed by the bank to be eligible for a loan. Again, the conditions imposed differ from bank to bank.
What are the basic eligibility criteria?
- Student needs be an Indian National
- Secured admission to professional/ technical courses in India or Abroad through Entrance Test / Merit based Selection process.
All the information you would need about the criteria of the banks:
ALLAHABAD BANK
Eligibility Criteria:
(a) (b) Courses Eligible:Student eligibility:
Studies in India
Need based finance subject to repaying capacity of the parents / students with following ceilings:
Studies in India: Maximum Rs 10.00 lacs
Studies abroad: Maximum Rs. 20.00 lacs.
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(a) (b) Courses Eligible:Student eligibility:
- Student be an Indian National
- Secured admission to professional/ technical courses in India or Abroad through Entrance Test / Merit based Selection process.Student eligibility:
Studies in India
- Graduation Courses- B.A, B.COM, B.Sc. etc.
- Post Graduation Courses: Masters Courses, Ph D, etc.
- Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computeretc.
- Computer Certificate Courses of reputed Institutes accredited to Department of Electronics or Institutes affiliated to University.
- Courses like- ICWA, CA, CFA etc.
- Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
- Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/ Shipping, if the course pursued abroad, the Institute should be recognised by the competent local aviation/ shipping authority.
- Courses offered in India by reputed foreign universities.
- Evening Courses of approved Institutes.
- Other Courses leading to diploma/degree etc conducted by the Colleges/ Universities approved by UGC/Govt/AICTE/AIBMS/ICMR etc.
- Graduation: For Job oriented professional/technical courses offered by reputed Universities.
- Post Graduation: MCA, MBA, MS etc.
- Courses conducted by CIMA London, CPA in USA etc.
- Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., the Institute should be recognised by the competent local aviation/ shipping authority.
Need based finance subject to repaying capacity of the parents / students with following ceilings:
Studies in India: Maximum Rs 10.00 lacs
Studies abroad: Maximum Rs. 20.00 lacs.
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BANK OF BARODA
Courses Eligible :
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- All Graduation courses.
- All Post Graduation courses & Doctorate courses.
- Professional Courses viz. Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, Ayurved, Homeopathy, Physiotherapy, Hotel Management, Hospital Management, Interior Designing, Architecture, Event Management, Mass Communication, Fashion Technology, etc.
- Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to Universities.
- Courses like C.A, ICWA, CFA, CS, etc.
- Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc.
- Regular Degree/ Diploma courses like Aeronautical, pilot training,
shipping etc., approved by Director General of Civil Aviation/shipping. - Other courses leading to diploma / degree etc. conducted by
colleges/universities approved by UGC/Govt./ AICTE/ AIBMS/ ICMR etc. - Courses offered in India by reputed foreign Universities.
- Evening courses of institutes approved by State/Central/Govt./UGC/AICTE/AIBMS/ICMR/ICAR.
- Courses offered by National Institutes and other reputed private institutions. The College/Institute must have been approved by the State/Central Govt./UGC/AICTE,etc.
- Should be Resident Indian.
- Secured admission to either of above courses
- Fee payable to college / Institution / University.
- Examination / Library / Laboratory Fee.
- Fee and other charges payable to hostel.
- Purchase of books / equipments / instruments.
- Personal Computers / Laptops wherever required.
- Caution deposit / building fund / refundable deposit supported by institution bills / receipts.
- Any other expenses required to complete the course - like study tours, project works, thesis, etc.
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BANK OF INDIA
STUDENT'S ELIGIBILITY:
ELIGIBLE COURSE:
(i) Studies in India (Indicative list):
Need based finance subject to repaying capacity of the parents/students :
- Should be an Indian National;
- Secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit based selection process.
- Good academic career.
- The student should not have outstanding education loan from any other Institution.
- Father/Mother should be co-borrower.
- Branch nearest to the permanent residence of student will consider the loan.
ELIGIBLE COURSE:
(i) Studies in India (Indicative list):
- Graduation courses : BA, B.Com., B.Sc., etc.
- Post Graduation courses : Masters & Phd.
- Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc
- Computer certificate courses of reputed institutes accredited to Department of Electronics or institutes affiliated to university.
- Courses like ICWA, CA, CFA, etc.
- Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt.
- Evening courses of approved institutes.
- Other courses leading to diploma/degree, etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ ICMR, etc.
- Courses offered by National Institutes and other reputed private institutions with prior approval of Head Office.
- Courses offered in India by reputed foreign universities with prior approval of Head Office.
- Graduation : For job oriented professional/technical courses offered by reputed universities.
- Post Graduation : MCA, MBA, MS, etc.
- Courses conducted by CIMA - London, CPA in USA, etc.
- Fee payable to college/school/hostel*
- Examination/Library/Laboratory fee.
- Purchase of books/equipments/instruments/uniforms.
- Caution deposit/building fund/refundable deposit supported by Institution bills/receipts.
- Travel expenses/passage money for studies abroad.
- Purchase of computers - essential for completion of the course.
- Insurance cover for the student.
- Any other expense required to complete the course - like study tours, project work, thesis, etc.
Need based finance subject to repaying capacity of the parents/students :
- Studies in India - Maximum Rs.10.00 lakh
- Studies abroad - Maximum Rs.20.00 lakh.
BANK OF MAHARASHTRA
Studies in India:
Graduation courses/Colleges under Universities approved by UGC. Other courses leading to diploma / degree etc. conducted by colleges / universities approved by UGC / Govt. / AICTE / AIBMS / ICMR etc.
Studies Abroad :
Job oriented Prof./Technical / PG courses/ Post Graduation: - MCA, MBA, MS etc
Quantum of Loan:
Need based finance subject to repaying capacity of the parents / students with following ceilings:
Studies in India: Maximum Rs 10.00 lacs
Studies abroad: Maximum Rs. 20.00 lacs.
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Graduation courses/Colleges under Universities approved by UGC. Other courses leading to diploma / degree etc. conducted by colleges / universities approved by UGC / Govt. / AICTE / AIBMS / ICMR etc.
Studies Abroad :
Job oriented Prof./Technical / PG courses/ Post Graduation: - MCA, MBA, MS etc
Quantum of Loan:
Need based finance subject to repaying capacity of the parents / students with following ceilings:
Studies in India: Maximum Rs 10.00 lacs
Studies abroad: Maximum Rs. 20.00 lacs.
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FEDERAL BANK
Eligibility:
Students of Indian Nationality
Residents & Non-Residents
Loan Amount
Up to Rs. 25 lakhs
Period
Maximum 11 years
Interest
Up to Rs.4 Lakhs – 11.50%
Above Rs.4 Lakhs – 14%
Security
Co-obligant/Collateral Security
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Students of Indian Nationality
Residents & Non-Residents
Loan Amount
Up to Rs. 25 lakhs
Period
Maximum 11 years
Interest
Up to Rs.4 Lakhs – 11.50%
Above Rs.4 Lakhs – 14%
Security
Co-obligant/Collateral Security
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HDFC BANK
Eligibility
For students of Indian Nationality, we provide student education loans for all Graduate, Post-Graduate, Engineering, Medical, MBA , Vocational Courses (Multi-Media, ERP) offered by recognized institutions in India. Loans available for short duration/ job oriented courses also.
Loan Amount
Student Loans Up to Rs.15 lakhs for education In India Unsecured Lending Upto Rs. 7.5 lakhs Wider Range Of Collateral For Loans Above Rs. 7.5 lakhs
Period
Loan available upto tenure of 7 years including moratorium period.
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For students of Indian Nationality, we provide student education loans for all Graduate, Post-Graduate, Engineering, Medical, MBA , Vocational Courses (Multi-Media, ERP) offered by recognized institutions in India. Loans available for short duration/ job oriented courses also.
Loan Amount
Student Loans Up to Rs.15 lakhs for education In India Unsecured Lending Upto Rs. 7.5 lakhs Wider Range Of Collateral For Loans Above Rs. 7.5 lakhs
Period
Loan available upto tenure of 7 years including moratorium period.
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