How to get student loan? A Complete information about Education Loan

How to take Study Loan? To know the complete information of Education Loan Interest Rates in Hindi, read the complete post of Website Shayarim.in and know what is the way to get Student Loans?

Many students do not know who gets the Subsidized Student Loan and when. As you know how important an education loan is to get higher education. If you do not have enough money, then you can also be deprived of your studies.

When students need money to study for the International level (Student Loans for International Students), they have to knock on the door of the bank. In today’s time, the bank also sends the amount (Instant Loan for Students) directly to the account for higher education after some process.

What is Student Loans?

When students borrow money from a bank or any private institution to complete higher education, it is called Education Loan or Student Loan. For example, students who have poor financial condition while pursuing higher education, that is, they are unable to pay the course fee, in that case they may have to take Student Finance Loan or Education Loans.

Age limit to take a loan

The minimum age limit for taking loan by students is 15 years. Individuals above 15 years can take loan according to the condition of the course.

Types Of Education Loans

Before taking an education loan, it is necessary to know that what are the types of student loans. If we talk about education loan, then let me tell you the following are the types of loan against education.

Professional Education Loans

If you want to take higher education like: Taking admission in any degree course, then let me tell you the loan taken by banks for this is called Professional Education Loan.

Graduate Student Loans

If you want to complete a course like graduation degree by taking money from bank, this loan is called graduate student loan. This type of loan is given by banks by banks for pursuing higher education.

Undergraduate Education Loans

When you complete your school studies, then you go abroad and take money from the bank to complete your graduation, that loan is called undergraduate loan.

How to Apply for Low Interest Student Loans?

To take education loan from any bank, you have to decide from which bank or institution you want to take loan. To take a loan, you should approach the same bank that is giving Higher Education Loan by the bank.

First of all go to the nearest bank.

After going to the bank, you have to get the necessary information about the loan. You need to know what is the process of getting student loan.

Before taking education loan, you have to know from which bank you are going to take loan. What is the interest rate to be paid on this loan?

Summer Student Loans can also be taken by following all the rules given by the bank. Your loan is approved after providing the required documents while applying.

Documents Required for Taking Education Loan (Education Loan For 12th)

Document is most important for taking loan from any institution. If you have the documents then you can claim to take the loan anywhere.

Marksheet of Matric (for age certificate)

-identity card

-Address proof

-passport size photo

-bank passbook

Course details (which you want to complete)

Fee receipt issued by the Institute/University

Benefits of taking a student loan

As you know that taking loan from bank has advantages and disadvantages.

Education loan can be taken from any bank. Now the government is also encouraging students to take loans.

If you do not have the money to complete the course, then you can take a loan and get admission in any degree course i.e. higher course.

If you pay before the due date, your civil score will increase.

The maximum time limit is given for returning the money in student loans.

The education loan interest rate is cheaper than other loans.

How much loan is available from Education Loan By Government?

Loans are given by all banks in India, but loan on education is given according to the course you have done. According to your course, need based is decided how much you should get the loan.

50 thousand, 2 lakh, four lakh 7.5 lakh or more loan can be given according to your eligibility and requirement. On the other hand, if we talk about the time limit of the loan, then let me tell you that the time of filling the education loan is according to the course. The same maximum time is decided according to your course and amount.

Top Bank For Education Loan

Before taking an education loan, you have to decide from which bank you should take a loan. Here I am telling the name of some banks. Student Loans For International Students can easily take loan from these banks.

Name of bank interest rate
State Bank Of India 6.81 percent
Punjab National Bank 5 percent
HDFC Bank 9.55 percent
Axis Bank 13.70 percent
Bank Of Baroda 8.85 percent
Federal Bank 16.5 percent
Kotak Mahindra Bank 16 percent

 

How to Calculate Education Loan – Education Loan Emi Calculator

If you are going to take an education loan , then you should know in advance how much interest will have to be paid on the loan. After this you can add how much interest you have to pay in the bank.

To calculate the loan according to the amount given by the bank, go to the link given below and calculate Emi.

Conclusion

In this post, I have shared information about how to take a Study Loan. By reading this post, you can submit an application for your higher education in the bank. Apart from this, there has been talk about eligibility and age limit. To know the instant interest rate and process related to the loan, you will have to visit the nearest branch.