After the 10th or 12th exam, every student has been only one dream to complete which is that his studies by going to a famous college or abroad like America, Landon, etc. They have more talent, but some students are not able to be fulfilled due to the education becoming expensive because they have no money. If you have a similar dream to be fulfilled own higher studies, then you do not need to be sad, because in such a situation your support can be made Education Loan.
Today’s time all government and private banks sector give education loans. Getting an education loan is not so easy for everyone, but if you have proper documents and you work hard then you will get an education loan easily for your studies.
Today we are going to discuss how you can take an education loan, yes today’s time it has become very easy to take an education loan.
|How to get Education Loan|
- 1) What is an education loan?
- 2) How to get an education loan?
- 4) on an education loan?
Today you are going to know all this through this post, so let’s know step by step mentioned below.
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What is an education loan:
When you pass the 10th or the 12th exam then you have to go to a good or famous college then you need more money for higher studies. But some of the students have no money at that time Indian government or some private sector bank provide them an education loan for their higher studies.
How to get an education loan:
If you want to take an education loan then you have to know some rules for taking an education loan.
- 1) You need must be a citizen of India.
- 2) Your age limit should be 16 to 35 years.
- 3) The admission should be in any recognized college or school in India
- 4) Large loan amounts will require a guarantor.
When you take an education loan then you will know which documents required for the loan.
- 1) First, You need to take a form from the bank and fill it and submit it by attaching some documents with it.
- 2) Identity proof,
- 3) Age proof.
It is not necessary to have an account in the bank from which bank you want to take a loan, but if you have an account in that bank, then it is very easy for you to get the loan.
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How much do you get a loan:
- 1) You can get a loan of up to 10 to 15 lakhs to study in India.
- 2) But if you want to study abroad then you have to get 20 to 25 lakhs.
- 3) If you take up to 4 lakhs then you do not need to spend even 1 rupee.
- 4) But if you take more than 4 lakhs then the bank will give you only up to 80% loan.
on an education loan:
Now discuss the interest rate in Education Loan.
- 1) The interest rate on education loans is generally between 11% to 14%
- 2) Many banks keep low seed rates for girls.
- 3) SBI Bank charges 13.75% interest per year on education loans.
- 4) SBI Bank charges an 8.85% interest for studying in India and 10.00% for studying abroad.
- 5) Bank of Baroda Education Loan charges – 8.40% in India, 9.15% abroad.
- 6) Axis Bank Education Loan charges an – 13.70% for studies in India and abroad
- 7) Union Bank of India charges an – 10.20% in India, 10.20% for studies abroad
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