Counselling letter , Admission letter,12th, 10th mark list , college admission letter and the expenses for the studies would be mentioned in it. If all these documents are available , no banks can refuse to provide education loan.
Bank lead and the district manager vanangamudi ‘s speech regarding education loan: To obtain education loan, in the involved bank ,the student and his parents or guardian should have a joint account.
Counselling letter, Admission letter, 12th, 10th mark list, all these documents are mandatory. If he student got admission in the college , a letter from the college is to be brought. The expenses for the studies would be mentioned in that. If these documents are available bank loan cannot be rejected.
The bank loan may be rejected if his / her father has already got the credit and not repaying it properly. May be his sister/ brother has got education loan and not repaying even after joining the job. In this case also the bank loan may be rejected. If the family members are not repaying the loan properly this kind of situation may happen.
Some people might have the account in another bank. Ask education loan in that bank. If they refuse to give, get an agreeing letter from the bank saying that the bank is not able to give, can apply for the bank from where the loan is to be obtained .Should never believe the middleman. Should directly approach the district management or the bank.
There will be differences only in the interest rates. Apart from that rules and all are common for all the banks.The maximum loan amount of upto rs.10,00,000 for those studying in india and rs.20,00,000 for those who are studying in abroad will be provided. Till 4,00,000 rs. nothing to spend from hand. If the amount is more than that 10% is to be spent for those studying in india and 15% is to be spent for those studying in abroad.
Those who are repaying the loan joining with the student who obtain credit is the responsible person for the loan.Or If it is more than 4 lakhs rupees , the third person has to be a guarantor for till 7.5 lakhs Rs. He /she should have the property value equal to the loan.If the amount is more than 8 lakhs , The third person should have the immovable property equal to the loan amount.
The loan amount given right from april 1st 2009 till 31st march 2010 doesnot have interest.There is no announcement come regarding the current year interest.After finishing the studies , post one year or after joining the job the process of loan repayent is to be started.In case if it is collecting the interest, till 4,00,000 Rs 12% .Till 7.5 lakhs an interest rate and another interest rate till 20 lakhs is there. For girls there is 1% lesser interest is a special plan is in effect.
If the student has got loan for his diploma studies , if he likes to study engineering simultaneously in this case also he can obtain education loan.The education loan is available to study M.E after finishing B.E .Loan can be obtained from the nearby place of the own location.
If there is any problem in getting education loan , you can contact canara bank branch’s manager in R.s puram or can call 9443364184. This is what is vanangamudi spoke.