Do you want to go abroad for Higher Education but do not have sufficient funds. Education loan is one of the best options through which you can arrange funds for abroad Education and do not give up on your dreams. Below are the various banks which provide education loan facility for abroad education. You can apply for getting maximum 30 lakhs of Education. This article will tell you the eligibility and application procedure for the education loan.
Punjab National Bank Study Abroad Education Loan – Pnb Saraswati
Following are the eligibility and procedure that you need to follow for applying for education loan in Punjab National Bank.
Courses for which we get education Loan
i) Undergraduate courses
(ii) Job oriented professional/technical courses offered by reputed universities.
ii) Post graduation courses : MCA, MBA, MS, etc.
iii) Courses conducted by CIMA- London, CPA in USA etc.
iv) Degree/Diploma courses* like aeronautical, pilot training, shipping etc., provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad.
Eligibility: | |||
Student eligibility: Should be an Indian National. Educational Eligibility: | |||
Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit based selection process after completion of HSC (10 plus 2 or equivalent). OR Where the admission is purely based on marks scored in qualifying examinations, there is a cut off percentage of marks of 50% for SC/ST and 60% for General category. | |||
Amount of Finance: PNB can finance upto maximum Rs.20.00 lakhs of Educational Loan. | |||
How to Repay Education Loan?
Repayment of loan will be in equated monthly instalments (EMIs) for period as under:
1) For loans upto Rs.7.50 lac – upto 10 years
2) For loans above Rs.7.50 lac – upto 15 years
Here it’s an original source of the complete information about the Educational loan scheme: Source: https://www.pnbindia.in/En/ui/EducationLoanScheme.aspx
State Bank of India Study Abroad Education Loans:
Following is the eligibility criteria and process for applying education loan in State Bank of India.
Eligible Courses for Studies Abroad: Job oriented professional/ technical courses, Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities
Amount of Loan : SBI can finance atmost Rs. 30 lacs of Education Loan.
How to Repay Education Loan?
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.
Maximum Loan Limit | Repayment Period |
Upto Rs. 4 Lacs | Max Upto 10 years |
Above Rs. 4 Lacs and upto Rs. 7.5 Lacs | Max Upto 10 years |
Above Rs. 7.5 Lacs | Max Upto 12 years |
Here it’s an original Source of the complete information about the Educational loan scheme: Source: https://www.sbi.co.in/user.htm?action=print_section&lang=0&id=0,1,20,118
Vijaya Bank Study abroad Loans:
Following is the eligibility criteria and process for applying education loan in Vijaya Bank.
Eligible courses for Studies abroad : Job oriented professional/ technical courses, Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities and Courses conducted by CIMA-London, CPA in USA etc.
Amount of Finance: Vijaya Bank can finance you maximum Rs.20.00 lakhs of Educational Loan.
How to Repay Education Loan?
For | Amount | Tenure |
IBA Scheme | Up to Rs. 7.50 lakhs | Up to 10 years |
Rs. 7.50 lakhs & above | Up to 15 years | |
Management Quota (Non IBA) | Irrespective of loan amount | Up to 10 years |
Here is an original source of the complete information about the Educational loan scheme:
Indian Bank Study Abroad Education Loans:
Following is the eligibility criteria and process for applying education loan in Indian Bank.
Who can apply for Studies abroad education Loan?
Eligibility:
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Course of Study : Studies Abroad
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Amount of Finance: Indian Bank can finance you Maximum Rs.20.00 lacs of Educational Loan.
Here it’s an original Source of the complete information about the Educational loan scheme:
Source: http://www.indian-bank.com/education.php
Bank of India Study Abroad Education Loans:
Here it’s an eligibility and process that you need to follow for applying for education loan in Bank of India:
Who can apply for Studies abroad education Loan?
STUDENT’S ELIGIBILITY:
- 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 :
- 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.
Amount of Finance: Bank of India can finance you Maximum Rs.20.00 lacs of Educational Loan.
Here it’s an original Source of the complete information about the Educational loan scheme:
Source: http://www.bankofindia.co.in/english/EducationLoan.aspx
Indian Overseas Bank Study Abroad Education Loans:
Who can apply for Studies abroad education Loan?
Eligibility |
Amount of loan can Finanace by Indian Overseas Bank: Maximum of Rs. 30.00 lakhs for studying in India and Rs. 40.00 lakhs for studying abroad. Repayment : Repay the loan in equal monthly Instalments for a maximum period of 5 – 7 years excluding holiday period. Here it’s an original Source of the complete information about the Educational loan scheme: http://www.iob.in/vidya_jyothi.aspx |
Oriental Bank of Commerce Study Abroad Education Loans:
EDUCATION LOAN SCHEME | |
Eligibility For Loan | Student who is / has: -1. An Indian national.2. Meritorious student3. Secured admission to a higher education course in an institute recognized by a statutory body in India or abroad through entrance test/ merit based selection process after completion of HSC (10+2 or equivalent) |
Amount of loan | Up to Rs. 20.00 Lacs for studies abroad |
Here it’s an original Source of the complete information about the Educational loan scheme:
Source: http://www.obcindia.co.in/obcnew/site/inner.aspx?status=2&menu_id=40
Credila Education Loan Scheme for Abroad Education:
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Banks understand loans, but Credila understands students and their needs! |
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Students face many challenges while securing education loans. Some of the issues faced by students include: | |
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IDBI Bank Study Abroad Education Loans:
Who can apply for Studies abroad education Loan?
STUDENT’S ELIGIBILITY:
- 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.
Maximum loan amount:
- Study in India- Rs.10 lakhs
- Study Abroad- Rs. 20 lakhs
How to Repayment can done?
The repayment of loan to begin after the course period + 1 year or 6 months after getting a job, whichever is earlier.The maximum repayment tenor starting from the date of commencement of EMI are as under:
- For loans up to Rs. 7.5 lakhs: up to10 years
- For loans above Rs. 7.5 lakhs: up to15 years
Here it’s an original Source of the complete information about the Educational loan scheme:
http://www.idbi.com/education-loan.asp
HDFC Education Loan for Foreign Education
How Much Money You will Get form loan?
- Amount limits: Get Education loans upto Rs. 20 lakh and unsecured lending upto Rs. 7.5 lakh. No collateral will be required for loans upto Rs. 7.5 lakh
- Loan Tenure: The maximum repayment tenure is upto 15 years post moratorium period.
Eligibility criteria
- You need to be a Indian resident
- You should be aged between 16 – 35 years.
- If you are taking a loan of more than Rs. 7.5 lakh, a collateral security will be required
- Co applicant : A co-applicant is required for all full time courses. Here are a few points to be noted about co-applicants:
- Primary Co-Applicants: Parents, Spouse, Siblings
- Secondary Co-Applicants: Father-In Law, Mother-In-Law, Brother-In-Law, Paternal / Maternal Uncle / Aunt
Here it’s an original Source of the complete information about the Educational loan scheme:
Document Check List for study Abroad Educational Loan:
While applying for the loan, the borrower is required to furnish the following information/papers:
o Loan application on Bank’s format. | |
o Passport size photograph | |
o Proof of Address. | |
o Proof of Age. | |
o Proof of having cleared last qualifying examination. | |
o Letter of admission in professional, technical or vocational courses. | |
o Prospectus of the course wherein charges like Admission Fee, Examination Fee, Hostel Charges etc. are mentioned. | |
o Details of Assets & Liabilities of parents/co-obligants/guarantors. | |
o In case loan is to be collaterally secured by mortgage of IP, Copy of Title Deed, Valuation Certificate and Non Encumbrance Certificate from approved Lawyer of the Bank to be obtained at the cost of the borrower. |
Expenses considered for loan
- Fees payable to college/school/hostel.
- Examination/Library/Laboratory fees.
- Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers- essential for completion of the course (maximum 20% of the total tuition fees payable for completion of the course).
- Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tuition fees for the entire course).
- Travel Expenses/Passage money for studies abroad.
- Fee payable to college for Indian School of Business.
10 Comments. Leave new
Thanks for providing such useful information about education loan. i am going Canada and don’t have sufficient funds. This blog will surely helpful to me for applying education loan.
Good Day,
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Chua want to know your loan criteria in details. where do you operate from. please forward your contact address.
Visit this source and get complete details about EDUCATION loan.
http://www.studyabroadlife.org/study-abroad-education-loan-guide/
Chua want to know your loan criteria in details. where do you operate from.
Credilla provides you option for getting education loan to the students for study abroad.
you need to show some mortgage and proper documentation.
first visit and credilla agent for more information.
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