Education Loan in Syndicate Bank


Syndicate Bank
Education loan amount size:
The maximum amount of upto Rs.10,00,000 will be provided for the students studying in India .
For the students studying in abroad, maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4.00,000 Rs. – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Interest rate:
Upto Rs.4,00,000 – P.L.R – 1.50%
More than Rs.4,00,000 – P.L.R – 1.00%
P.L.R.,Prime Lending Rate
Way of repaying the loan:
One year after finishing the studies or right from the 6th month after joining the job the repaying process is to be started. The loan amount is to be closed within 5 to 7 years.
Warranty:
No property guarantor is required till 4,00,000 Rs.
From 4,00,000 Rs. till 7,50,000 Rs.: Third party’s guarantee is required.
More than 7,50,000 Rs – Parents, student or the third party’s agreeing letter for the assurance of repayment of loan is required.


Education Loan in Indian Bank


Indian Bank
Education loan amount size
Maximum amount of upto Rs.10,00,000 will be provided for the students studying in India and for the students studying in abroad , maximum amount of upto Rs.20,00,000 will be provided.
More than the maximum loan amount will be provided for the efficient and capable students .
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than Rs.4,00,000 – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Interest rate:
Upto Rs.7.50 lakhs – 14.00% p.a.
Above Rs.7.50 lakhs – Rs.14.25% p.a.
0.50% special previliage will be provided for girls.
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment process is to be started.The loan amount is to be closed within 5 to 7 years.
Warranty:
No property guarantor is required till 4,00,000 Rs.
From 4,00,000 Rs till 7,50,000 Rs :Third party’s guarantee is required.
More than 7,50,000 Rs.: Parents, student or the third party agreeing letter assuring the loan repayment is required.




Education Loan is available for you


You also can get education loan
Students who do not have adequate financial status should also study is the basic reason why the education loan is planned for.
The students who are doing higher studies can try to get the loan approval. It is necessary for the students who are trying to get education loan should prefer an authorized college and an authorized department .
Undergraduation, Post graduation , technical courses for all these courses education loan can be obtained. Apart from studying in India ,Education loan will be provided for studying in abroad even.
some educational institutions will  operate along with some few banks. If you are doing higher studies in such institutions the bank which operates along with that itself will provide you the education loan easily. Education loan of upto Rs.10,00,000 will be provided for studying in India and upto Rs.20,00,000 will be provided for studying in abroad.
Students receiving credit should submit some of the documents required by the bank along with the application. After the verification of all the documents and the applications, the bank manager will have a discussion with the student and his family members. He will discuss and come to know about the student’s father/guardian asset details, yearly income,  about the department the student is joined and all.
Interest rate
The interest rate for the education loan amount of Rs.4,00,000 and less than that would be minimum of the calculated interest.If the amount is above Rs.4,00,000 1% of the amount will be charged in addition to the lesser interest rate. But this calculation of interest rate would differ from bank to bank.Some banks are providing concession for the girl students and some banks are providing it for the boys who are studying in particular institutions.
Credit guarantor
It depends on the loan amount required by the student to get signature of the loan guarantor or keeping the Property as a guarantor. Property represents the amount having or residential agreement papers.The evidences for these are to be submitted at the time of getting the cash.For the loan of upto 4,00,000 Rs guarantor is not required . If the amount is more than that sometimes third person’s guarantor sign is required.
Repaying the loan
It is not necessary to repay the loan at the period of studying. some banks are collecting interest alone at the studying period.After finishing the studies and joining the job or after finishing the studies and one year after that repaying the loan is to be started.should not delay after one year and more to repay the loan.That too is withn 5 to 7 years the loan is to be paid .

Education Loan


The bank refused for the education loan is condemned by the court

The high court has taken action on the bank which refused to grant education loan for the daughter who applied for it because of her parents loan balance.
The high court is ordered to grant loan immediately for that student.
R.sahana, student of Rajalakshmi Engineering college , tandalam, near Chennai.she has filed a petition in the madras high court saying that she has applied for the education loan in oriental bank of commerce , mugappper in 2008 and she has received the loan in 2008 and 2009.But in 2010 tthe same bank is refused to grant education loan because of the loan balance kept by her parents who have got loan for their business.
In this situation her parents paid the third annual fees working very hard.But they are suffering a lot to pay the final year fees. so she said that the court has to order the bank to grant the loan which they promised me as granted in the first year.
The judge who worked on this petition ordered the bank to provide the remaining amount immediately to that student.The bank is being contrary to the purpose of the education loan’s plan.The bank refused to grant loan for the final year student is not correct.Because of parents loan balance , education loan should not be denied for the daughter is the Judgement given.


Education Loan in Indian Overseas Bank


Indian Overseas Bank
In Indian Overseas Bank , Education loan is provided in the name of vidhyajyothi.
Education loan amount size:
For the students studying in India , maximum amount of upto Rs.7,50,000 will be provided and for the students studying in abroad , maximum amount of upto Rs.15,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 rs.
More than Rs.4,00,000 – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Education scholarship will be added to the advance amount to be paid.
Interest rate:
Vidhyajyothi Higher education loan
Rs.4 lakhs  and  upto Rs.7.5 lakhs
01.08.2011

Above Rs.7.5 lakhs

One year after finishing the studies or right from 6th month after joining the job the repayment is to be started. The loan amount is to be closed within 5 to 7 years.
Warranty:
Upto 4,00,000 Rs : No property guarantor is required.
From 4,00,000 Rs. upto 7,50,000 Rs.: Third party’s guarantee is required.
More than 7,50,000 Rs: Parents, student or the third party agreeing letter assuring the repayment of loan is required.



Education Loan in State Bank of Saurashtra


State bank of Saurashtra
Education loan amount size
Maximum amount of upto Rs.10,00,000 would be provided for the students who are studying in India.
Maximum amount of upto Rs.20,00,000 would be provided for the students who are studying in abroad.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs. – students studying in India is 5% and students studying in abroad is 15%.
Way of repaying the loan
After joining the job or one year after finishing the studies , repayment of the loan is to be started. The total loan amount is to be closed within 5 to 7 years.
Warranty
Till 4,00,000 Rs: No property guarantor is required.
From 4,00,000 Rs till 7,50,000 Rs:  Third party’s guarantee is required
More than 7,50,000 Rs: Property guarantor,An agreement assuring the repayment of loan by the parents, student or the third party.

Education Loan in State Bank of Mysore


State Bank of Mysore
In state bank of mysore the education loan is provided in the name of gnanamythra.
Education loan amount size:
The maximum amount of upto Rs.10,00,000 is provided for the students studying in India.
For the students studying in abroad the maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than Rs.4,00,000 – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Interest rate:
Upto Rs.4,00,000 - 14.00%
More than Rs.4,00,000 – 14.50%
Method of repaying the amount:
One year after finishing the studies or right from the sixth month after joining the job the repayment of the loan is to be started.
Warranty:
Upto Rs.4,00,000 : No property guarantee is required.
From rs.4,00,000 till 7,50,000 : Third person’s guarantee approval is required.
More than 7,50,000 Rs : Property guarantor, Parents, student or the third party’s agreeing letter assuring the repayment of loan.
Apply Online: http://www.statebankofmysore.co.in/Loan.aspx
 Contact :
State Bank of Mysore
Personal & Services Banking Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901 to 22353909 ; 22353473.extn.380
91 80 22353467 Fax: 91 80 22283684
Email:cmpsb@sbm.co.in

Education Loan in State Bank of Indore


State Bank of Indore
Education loan amount size:
On the basis of students repaying the loan of their parents the education loan will be provided.
For the students studying in India the maximum amount of upto Rs.10,00,000 will be provided.
For the students studying in abroad the maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than Rs.4,00,000 : Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Education scholarship will be added with the advance amount.
Interest rate:
Upto Rs.4,00,000 : 11.50%
More than Rs.4,00,000 : 13.00%
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment process is to be started.
Warranty:
Upto  Rs.4,00,000 : No property Guarantor is required.
From 4,00,000 Rs. till 7,50,000 Rs: Third party guarantee is required
More than 7,50,000 Rs: Property Guarantor , parents , student or the third party agreeing letter assuring the repayment of the loan is required.


.

Education Loan in State Bank of India


Education Loan in State Bank of India
Education loan amount size:
The education loan is provided on the basis of students repaying their parents loan.
For the students studying in India , maximum amount of upto Rs.10,00,000 will be provided and for the students studying in abroad , maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs.: Students studying in India should pay 5% and students studying in abroad should pay 15% of the amount.
Interest rate:
Upto Rs.4,00,000 : 13.50%
More than 4,00,000 Rs.: 13.25%
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment process is to be started. The loan amount is to be closed within 5 to 7 years.
Warranty:
Upto Rs.4,00,000 : No property guarantor is required.
From 4,00,000 Rs. till 7,50,000 Rs.: Third party’s guarantee is required.
More than Rs.7,50,000 : Parents, student or the third party’s assurance on the repayment of the loan is required.

Education Loan in State Bank of Hyderabad


State Bank of Hyderabad
Education loan amount size:
For the students studying in India , maximum amount of upto Rs.10,00,000 will be provided and for the students studying in abroad maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than Rs.4,00,000 : Students studying in India should pay 5% and students studying in abroad should pay 15% of the amount.
Interest rate:
Bank Employee: 12.50%(2.00% above BR)
Other Public: 14.50%(4.00% above BR)
Way of repaying the loan:
One year after finishing the course or right from 6th month after joining the job the repayment process is to be started. The loan amount is to be closed within 5 to 7 years.
Warranty:
Upto 4,00,000 Rs: No property guarantor is required.
From 4,00,000 Rs till 7,50,000 Rs: Third party’s guarantee is required.
More than 7,50,000 Rs: Parents, student or the third party’s agreeing letter assuring the repayment of loan is required.


Education Loan in State Bank of Travancore


State Bank of Travancore

Education loan amount size
Maximum loan amount of upto Rs.10,00,000 would be provided for the students who are studying in India.
Maximum loan amount of upto Rs.20,00,000 would be provided for the students who are studying in abroad.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs – students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount
Interest rate
Upto Rs.4,00,000 Rs: 3.75% above Base Rate
More than 4,00,000 Rs: 4.50% above Base Rate
Method of Repaying the loan
One year after finishing the studies or right from 6th month after joining the job the repaying work is to be started. The loan amount is to be closed within 5 to 7 years.
Warranty:
Upto Rs.4,00,000 – No Property guarantor is required
From Rs.4,00,000 till 7,50,000 Rs. – Third person’s guarantee is required
More than Rs.7,50,000 – guarantor, Agreement assuring the repayment of loan by the student, parents or the third party.

Students getting credit should study well


Students getting credit should study well

Comparing with the other students those who are getting credit should study well. If the other students are spending Rs.4,00,000 for their education ,those who are getting education loan are spending 5,40,000 along with the interest is the speech given by the state bank officer.

More than that he said : With the Intention of doing something to the country ,dhinamalar is conducting vazhikaati program. None of the students should stop their school  studies because of poverty is the reason why central government is brought up this bank loan plan. Education loan is to be prioritized in the bank and it is happening..

To obtain bank loan It is necessary to be an Indian Citizen. Students should have the Joined letter from the college .The students should have the joined letter from the college. You have to apply for the bank loan in the bank nearby from the place of your house, including the public sector branches . Education loan will be provided for all the authorized subjects. It is not only enough to join in a good college , it is also necessary to check the department selected is an authorized one.Education loan of upto Rs.10,00,000 is provided to study in India and upto Rs.20,00,000 is provided to study in abroad.

In this case , If you apply for upto  Rs.4,00,000 the bank will provide you the entire amount . If the amount is more than 4,00,000 you need to spend 5% of the amont. Bank will provide you for all the expenses like hostel, transportation, and all other expenses related to studies. However the bill has to be obtained from the college.

If computer is necessary for your studies , loan will be provided for purchasing that. If the college fees is paid before getting the bank loan that amount alone will be given in hand. For the remaining years the bank will pay directly to the college.If the family income is less than 4.5 lakhs there is concession in the interest. The marks of the students who have got bank loan will be supervised.The mark sheets of the students will be in the bank.

Graduated students should start paying the loan six months after joining the job. The bank will give time for the students till one year after completing the course. After that if the students are not paying , it is to be paid by their parents.Students who have got education loan should study well comparing the other students.If the other students are spending 4,00,000 Rs for their education those who have got education loan are spending 5,40,000 Rs along with the interest. Those who have got education loan for their studies should learn to return it back properly.Only then the project will be continued to the next generation students, he said.



Education Loan in Syndicate Bank


Syndicate Bank
Education loan amount size:
The maximum amount of upto Rs.10,00,000 will be provided for the students studying in India .
For the students studying in abroad, maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4.00,000 Rs. – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Interest rate:
Upto Rs.4,00,000 – P.L.R – 1.50%
More than Rs.4,00,000 – P.L.R – 1.00%
P.L.R.,Prime Lending Rate
Way of repaying the loan:
One year after finishing the studies or right from the 6th month after joining the job the repaying process is to be started. The loan amount is to be closed within 5 to 7 years.
Warranty:
No property guarantor is required till 4,00,000 Rs.
From 4,00,000 Rs. till 7,50,000 Rs.: Third party’s guarantee is required.
More than 7,50,000 Rs – Parents, student or the third party’s agreeing letter for the assurance of repayment of loan is required.


Education Loan in Thena Bank


Thena Bank
In Thena Bank , Education loan is provided in the name of Thena vidhyalakshmi.
Education loan amount size:
For the students studying in India maximum amount of upto Rs.10,00,000 will be provided and for the students studying in abroad maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs.: Students studying in India should pay 5% and students studying in abroad should pay 15% of the amount. The Education scholarship will be added with the advance amount to be paid.
Interest rate:
More than 4,00,000 Rs:
1% special previliage will be provided for girls.
For the students of IIM,IIT,ISP 1% special previliage will be provided.
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the loan repayment process is to be started. The loan amount is to be closed within 5 to 7 years.


Education Loan in UCO Bank


UCO Bank
Education loan amount size:
Maximum amount of upto Rs.10,00,000 will be provided for the students studying in India and for the students studying in abroad the maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs – students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Interest rate:
Upto Rs.4,00,000 : B.P.L.R., BR + 3.00%
More than 4,00,000 Rs: B.P.L.R., BR + 3.75%
B.P.L.R., Bank Prime Lending Rate
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment process is to be started. The loan amount is to be closed with 5 to 7 years.
Warranty:
No property guarantor is required till 4,00,000 Rs.
From 4,00,000 Rs till 7,50,000 Rs: Parents, student or the third party’s agreeing letter assuring the repayment of loan is required.


Education Loan in United bank of India


United bank of India
Education loan amount size
Education loan amount of upto Rs.7,50,000 will be provided for the students who study in India.
Maximum amount of Rs.15,00,000 is provided for the students studying in abroad.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs – 5% of the students are studying in india and 15% of the students are studying in abroad.
Interest rate:
Upto Rs.4,00,000 : BR + 2.00% i.e 12.60% p.a.
More than 4,00,000 Rs: BR + 2.75% i.e 13.35% p.a.
0.50% a special concession will be provided for girls
The way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the student should start repaying the job.The loan amount is to be closed within 5 to 7 years.
Warranty:
Till 4,00,000 Rs. No guarantee required.
From Rs.4,00,000 till Rs.7,50,000 : Third person’s gurantee is required
More than 7,50,000 Rs. Property guarantor , The agreement of repaying the loan by the parents , student or the third party.



Education Loan in Vijaya Bank


Vijaya Bank
Education loan amount size:
Maximum amount of upto Rs.10,00,000 will be provided for the students studying in India and for the students studying in abroad , maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than Rs.4,00,000 – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Interest rate:
B.B.L.R – 1.25%(plotin)
For the girls 0.50% special previliage will be provided.
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment process is to be started.
Warranty:
No property guarantor is required till 4,00,000 Rs.
From 4,00,000 Rs till 7,50,000 Rs.: Third party’s guarantee is required.
More than 7,50,000 Rs. : Parents, student or the third party’s agreeing letter assuring the repayment of loan is required.


The reason for denial of education loan


The reason for denying education loan
The banks are not granting loan for all those who are applying for it.The loan is denied for some or the other reasons.
There are several reasons for that.It is to be identified and corrected and post that students can apply for loan in all other banks  too.
Every bank will follow a different method of reviews regarding the education loan.Evidences demanded by the bank varies.so before applying for education loan in a bank it is essential to study and learn the procedures of the bank.
The completion of education loan process may take right from two weeks till one month and more even. Similarly it would be better to know the interest charged by the bank and applying in the bank which is charging less interest rate.
Generally banks are showing interest to provide loans for the professional courses like medicine,Engineering,Vertinary ,law,dental ,chartered accountant . Because the students will get the job immediately after finishing the course and they will easily  pay  back the loan .
For the students choosing arts  and diploma courses , because of there is very less chances of job the banks are following several  procedures.
Currently in India more than 20 banks are providing education loan for the students.But the confidence that the students will pay back is obtained from the secret confession given by them which is expected by the bank.
That is , the students have to sign and mention the reason why they are asking for loan. The bank is refused for loan on the basis of the student is  mentioned that his father’s business came down and so education loan is required for his studies.The reason for this is the bank doesnot have the  confidence that he/she will be able to pay back the loan.This statement implies that there is no permanent monthly income.
But the bank is willing to give the credit for the student mentions saying if the loan is credited for my higher studies , I will pay back the loan after finishing my studies .
Not only this , no proper account details of the guarantor, students marks, Applications without required  documents, joining in unauthorized institution or unauthorized branch, family’s monthly income being very less are all the reasons for denied education loan by the bank.
The education loan is rejected for the students who are joining in a non standard institution..Those who complete studies from that institution will not be with the expected talent.so the job oppurtunities for them will become late is the reason for this.
But without any reason if the education loan is rejected for a student , he can complain this to the bank manager and the education loan can be applied and get back from some other bank is the opinion of the councillors.
Do not fed up if the education loan is rejected in a bank , correcting all the mistakes while applying and immediately applying for it in other bank and trying to reach it is intelligence.
Moreover if it is a government bank, you may ask and know the basic reason for the education loan rejection. But in Private banks it is not possible.

Consultation for getting Education loan


Consultation for getting Education loan
The manager, state bank of India Mr.viruthaachalam gave a consultation regarding the way of getting education loan  for those who wish to get education loan and continue the higher studies.
Dhinamalar newspaper joining with the SRM university conducted vazhikaati program for the students who have completed 12th standard which gives an idea about higher studies in Chennai royapet OMCA ground. Yesterday which is the last day for this program where more than 10,000 students along with their parents participated in this interestedly.
Thats right .....expenses for studying  will be more is the tension? Mr.Viruthachalam , manager state bank of india has given a speech on this topic. This education loan plan is brought up by the central government  for the students education should not get spoiled because of lack of money .There are 25 public sector banks in india. Among this education loan is provided for all the courses B.A, B.Sc., B.com, Medical , Engineering and all. For special courses alone education loan cannot be obtained from public sector banks.
Before getting credit from banks , the parents should take the responsibility of arranging all the available documents .Upto Rs.10,00,000 is provided for studying in india and loan of Rs.20,00,000 is provided for studying in abroad. Maximum time of 5 to 7 years is given by the banks to repay the loan amount.
Students who wish to receive credit ,avoiding the busy days of the banks and approaching at the right time for getting the details of education loan and the details regarding the paper submission would be helpful  for getting the loan easily. Hard work should be there for the students who are studying through education loan.students should keep in mind that Simply success will not be achieved without confidence . This is what Viruthaachalam spoke.

Education loan in Central Bank of India


Central Bank of India
In central Bank of india , the education loan is provided in the name of cent vidhyarthi for the students from  the age group of 16 till 40.
Education loan amount size:
For the students studying in India , maximum amount of upto Rs. 7,50,000 will be provided and for the students studying in abroad , maximum amount of upto Rs.15,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs.: students studying in India should pay 5% and students studying in abroad should pay 15% of the amount. Education scholarship will be added with the advance amount to be paid.
Interest rate:
For the students of IIT, IIM : B.P.L.R ., 2.50%
Other students: B.P.L.R ., 3.00%
For the girls special previliage of 3.00% will be provided.
Warranty:
No property guarantor is required till 4,00,000 Rs.
From 4,00,000 Rs. till 7,50,000 Rs: Third party’s guarantee is required.
More than 7,50,000 Rs: parents, student or the third party’s assurance on the repayment of loan is required.



Education loan in Canara Bank


Canara Bank
Education loan amount size
For the students studying in India , maximum amount of upto 10,00,000 Rs will be provided.
And maximum amount of upto Rs.20,00,000 would be provided for the students studying in abroad.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
For more than 4,00,000 Rs. – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Interest Rate:
Upto Rs.4,00,000 – BR +3.00%
From 4,00,000 Rs till 7,50,000 Rs. – BR +4.00%
From 7,50,000 Rs till 20,00,000 Rs – BR +2.00%
For the students joining IIT, IIM, ISP – BR + 6.00%
One percent special previleage will be provided for girls.
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment process is to be started. The loan amount is to be closed within 5 to 7 years.
Warranty:
No property guarantor is required till 4,00,000 Rs.
From 4,00,000 Rs. Till 7,50,000 Rs. : Third person’s guarantee is required.
More than 7,50,000 Rs. – Parents, student or the property guarantor agreeing letter assuring the loan repayment is required.


Education loan in Bank of Maharashtra


Bank of Maharashtra
Education loan amount size
For the students studying in India , maximum amount of upto Rs.10 lakhs will be provided and for the students studying in abroad , the maximum amount of upto Rs.20 lakhs will be provided.
Advance amount to be paid:
Nothing till 4 lakhs Rs.
More than 4,00,000 Rs: Students studying in India should pay 5% and students studying in abroad should pay 15% of the amount.
Interest rate:
Till 4,00,000 Rs: 2.00%
More than 4,00,000 Rs:2.75%
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment process is to be started. The loan amount is to be closed within 5 years.
Warranty:
Till 4,00,000 Rs. no property guarantor is required..
Guarantee is required for more than 4,00,000 Rs.


 .



Education loan in Bank of India


Bank of India
Education loan amount size:
The maximum amount of upto Rs.10,00,000 will be provided for the students studying in India and for the students studying in abroad, maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs.: students studying in India should pay 5% and students studying in abroad should pay 15% of the amount.
Interest rate:
Upto 7.50 Lakhs – 3% below B.P.L.R ., Min . 13.75% p.a.
Above Rs.7.50 lakhs upto Rs. 2.50 lakhs – 2.50% above B.P.L.R ., Min 13.25% P.a.
0.50% special previliage will be provided for girls.
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment is to be started. The loan amount is to be closed within 5 to 7 years.
Warranty:
Upto Rs.4,00,000 : No property guarantor is required.
From 4,00,000 Rs. till 7,50,000 Rs.: Third party’s guarantee is required.
More than 7,50,000 Rs.: Parents , student or the third party’s assurance on the repayment of loan is required.


Education loan in Bank of Baroda


Bank of Baroda is providing education loan in the name of baroda vidhya for the school students and kian for the students studying in any of the colleges in India and baroda scaser for the Indian students studying in abroad.
Education loan amount size
For the students studying in India , maximum amount of upto Rs.7,50,000 will be provided and for the students studying in abroad maximum amount of upto Rs.15,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs: Students studying in India should pay 5% and students studying in abroad should pay 15% of the amount.
Interest rate:
Upto Rs.4,00,000 : B.P.L.R.,(2.00% above BR)
More than Rs.4,00,000 : B.P.L.R.,(4.00% above BR)
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment process is to be started.The loan amount is to be closed within 5 to 7 years.
Warranty:
No property gurantor is required till 4,00,000 Rs.
From 4,00,000 Rs till 7,50,000 Rs.: Third party’s guarantee is required.
More than 7,50,000 Rs: Property guarantor is required.


Education loan in Andhra Bank


In Andhra bank , education loan is provided in the name of A.P.dr.Pattaavi vidhyajyothi .
Age:
Students studying in India should be from the age group of 12 to 30
Students studying in abroad should be from the age group of 18 to 35.
Education loan amount size:
For the students studying in India , maximum amount of upto Rs.10,00,000 will be provided and for the students studying in abroad , maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than 4,00,000 Rs: students studying in India should pay 5% and students studying in abroad should pay 15% of the amount.
Interest rate:
Upto Rs.4,00,000 : BR + 0.75 = 11.50%(Floating) 11.75%(Fixed)
More than Rs.4,00,000: BR + 0.25 = 11.00%(Floating) 11.25%(Fixed)
For girls 0.50% special previliage is provided right from July 1st 2005 .
Warranty:
Upto 4,00,000 Rs: Parents guarantee is required.
From 4,00,000 Rs till 7,50,000 Rs: Parents guarantee is required.
More than 7,50,000 Rs: Property guarantor and parents guarantee is required.

Bank loan for students


The banks are providing loan for the students from India to study in abroad. This bank loan is provided on the basis of students should never lose their higher studies because of lack of money.

Instructions for that

The age group of the students who are getting education loan should be between 16 to 26..

Education loan for expenditures – Joining and exam fees, Transportation, Books fees

Loan amount for higher studies in india – Upto Rs.10,00,000

Loan amount for higher studies in abroad -  Upto Rs.20,00,000

Time duration for repaying the loan amount – 5 to 7 years


The reasons for denying education loan


The banks are not granting loan for all those who are applying for it.The loan is denied for some or the other reasons.
There are several reasons for that.It is to be identified and corrected and post that students can apply for loan in all other banks  too.
Every bank will follow a different method of reviews regarding the education loan.Evidences demanded by the bank varies.so before applying for education loan in a bank it is essential to study and learn the procedures of the bank.
The completion of education loan process may take right from two weeks till one month and more even. Similarly it would be better to know the interest charged by the bank and applying in the bank which is charging less interest rate.
Generally banks are showing interest to provide loans for the professional courses like medicine,Engineering,Vertinary ,law,dental ,chartered accountant . Because the students will get the job immediately after finishing the course and they will easily  pay  back the loan .
For the students choosing arts  and diploma courses , because of there is very less chances of job the banks are following several  procedures.
Currently in India more than 20 banks are providing education loan for the students.But the confidence that the students will pay back is obtained from the secret confession given by them which is expected by the bank.
That is , the students have to sign and mention the reason why they are asking for loan. The bank is refused for loan on the basis of the student is  mentioned that his father’s business came down and so education loan is required for his studies.The reason for this is the bank doesnot have the  confidence that he/she will be able to pay back the loan.This statement implies that there is no permanent monthly income.
But the bank is willing to give the credit for the student mentions saying if the loan is credited for my higher studies , I will pay back the loan after finishing my studies .
Not only this , no proper account details of the guarantor, students marks, Applications without required  documents, joining in unauthorized institution or unauthorized branch, family’s monthly income being very less are all the reasons for denied education loan by the bank.
The education loan is rejected for the students who are joining in a non standard institution..Those who complete studies from that institution will not be with the expected talent.so the job oppurtunities for them will become late is the reason for this.
But without any reason if the education loan is rejected for a student , he can complain this to the bank manager and the education loan can be applied and get back from some other bank is the opinion of the councillors.
Do not fed up if the education loan is rejected in a bank , correcting all the mistakes while applying and immediately applying for it in other bank and trying to reach it is intelligence.
Moreover if it is a government bank, you may ask and know the basic reason for the education loan rejection. But in Private banks it is not possible.

Consultation for getting Education loan


The manager, state bank of India Mr.viruthaachalam gave a consultation regarding the way of getting education loan  for those who wish to get education loan and continue the higher studies.

Dhinamalar newspaper joining with the SRM university conducted vazhikaati program for the students who have completed 12th standard which gives an idea about higher studies in Chennai royapet OMCA ground. Yesterday which is the last day for this program where more than 10,000 students along with their parents participated in this interestedly.

Thats right .....expenses for studying  will be more is the tension? Mr.Viruthachalam , manager state bank of india has given a speech on this topic. This education loan plan is brought up by the central government  for the students education should not get spoiled because of lack of money .There are 25 public sector banks in india. Among this education loan is provided for all the courses B.A, B.Sc., B.com, Medical , Engineering and all. For special courses alone education loan cannot be obtained from public sector banks.

Before getting credit from banks , the parents should take the responsibility of arranging all the available documents .Upto Rs.10,00,000 is provided for studying in india and loan of Rs.20,00,000 is provided for studying in abroad. Maximum time of 5 to 7 years is given by the banks to repay the loan amount.

Students who wish to receive credit ,avoiding the busy days of the banks and approaching at the right time for getting the details of education loan and the details regarding the paper submission would be helpful  for getting the loan easily. Hard work should be there for the students who are studying through education loan.students should keep in mind that Simply success will not be achieved without confidence . This is what Viruthaachalam spoke.

Education Loan of Rs.900 crores


Indian bank Rs.900 crore education loan

Indian bank Manager T.M.Bhasin said,In the coming academic year , education loan of Rs.900 crores  will be granted for one and a half lakh students.

In the Indian bank’s 104th year, 104 autos giving ceremony was held in Chennai raja annamalaipuram chettinad Vidhyashram school yesterday evening.

At the end of the function the chairman and the bank managing director  T.M.Bhasin said,To improve the self employment oppurtunities and the lives of people who are under poverty line it is planned to provide auto in a lesser interest rate.

Education loan providing program is successfully implemented.In 2011 until march for more than 1,20,000 students until Rs.3 crores has been provided.In the coming academic year for 1,50,000 students Rs.900 crores will be provided. Among the nationalised bank Indian bank holds the first place in collecting the loan amount.

This is what is T.M. Bhasin said.

Education loan for the scavengers children


Education loan is provided for the scavengers children and their family members for the graduation and post graduation in vocational / technology subjects

Credit assistance is provided by the National sabaai karmachaaris finance development corporation for those who are studying Medicine, Engineering, Management, Law, Technology course, physiotheraphy, Nursing, under graduation or post graduation courses and diploma courses.

Qualified students can apply for this education loan. Maximum amount of Rs.10,00,000 is provided for the students studying in India and Rs.20,00,000 is provided for the students who are studying in abroad.4% interest will be charged for educational loan.3.5%  interest is charged for the girls.

For more details visit www.nskfdc.nic.in.

Education Loan is available for you


You also can get education loan
Students who do not have adequate financial status should also study is the basic reason why the education loan is planned for.

The students who are doing higher studies can try to get the loan approval. It is necessary for the students who are trying to get education loan should prefer an authorized college and an authorized department .
Undergraduation, Post graduation , technical courses for all these courses education loan can be obtained. Apart from studying in India ,Education loan will be provided for studying in abroad even.

Some educational institutions will  operate along with some few banks. If you are doing higher studies in such institutions the bank which operates along with that itself will provide you the education loan easily. Education loan of upto Rs.10,00,000 will be provided for studying in India and upto Rs.20,00,000 will be provided for studying in abroad.

Students receiving credit should submit some of the documents required by the bank along with the application. After the verification of all the documents and the applications, the bank manager will have a discussion with the student and his family members. He will discuss and come to know about the student’s father/guardian asset details, yearly income,  about the department the student is joined and all.
Interest rate

The interest rate for the education loan amount of Rs.4,00,000 and less than that would be minimum of the calculated interest.If the amount is above Rs.4,00,000 1% of the amount will be charged in addition to the lesser interest rate. But this calculation of interest rate would differ from bank to bank.Some banks are providing concession for the girl students and some banks are providing it for the boys who are studying in particular institutions.

Credit guarantor
It depends on the loan amount required by the student to get signature of the loan guarantor or keeping the Property as a guarantor. Property represents the amount having or residential agreement papers.The evidences for these are to be submitted at the time of getting the cash.For the loan of upto 4,00,000 Rs guarantor is not required . If the amount is more than that sometimes third person’s guarantor sign is required.

Repaying the loan
It is not necessary to repay the loan at the period of studying. some banks are collecting interest alone at the studying period.After finishing the studies and joining the job or after finishing the studies and one year after that repaying the loan is to be started.should not delay after one year and more to repay the loan.That too is withn 5 to 7 years the loan is to be paid .

Education Loan


The bank refused for the education loan is condemned by the court
The high court has taken action on the bank which refused to grant education loan for the daughter who applied for it because of her parents loan balance.
The high court is ordered to grant loan immediately for that student.
R.sahana, student of Rajalakshmi Engineering college , tandalam, near Chennai.she has filed a petition in the madras high court saying that she has applied for the education loan in oriental bank of commerce , mugapper in 2008 and she has received the loan in 2008 and 2009.But in 2010 tthe same bank is refused to grant education loan because of the loan balance kept by her parents who have got loan for their business.
In this situation her parents paid the third annual fees working very hard.But they are suffering a lot to pay the final year fees. so she said that the court has to order the bank to grant the loan which they promised me as granted in the first year.
The judge who worked on this petition ordered the bank to provide the remaining amount immediately to that student.The bank is being contrary to the purpose of the education loan’s plan.The bank refused to grant loan for the final year student is not correct.Because of parents loan balance , education loan should not be denied for the daughter is the Judgement given.

Education loan for the SC students


Education loan is provided for the Sc group students for studying full time vocational/technical courses. National Scheduled class finance and development corporation is operated under the department of social justice and federal power.
This organization is providing the loan for the scheduled group students  upto Rs.40,000 for the rural areas and upto Rs.55,000 for the urban areas for the full time vocational/technical courses.
SC Students who are studying Engineering, Medicine,Management,IT, Bio technology,Architecture,law,Nursing,Phd,CA or ICWA can apply for this loan.
The Maximum amount of Rs.10,00,000 is provided for the students studying in India and Rs.20,00,000 is provided for those who are studying in abroad.4% interest will be charged for the education loan per year.For girls it is 3.5%..

For more details visit www.nsfdc.nic.in

Education loan – Documents Required


For providing education loan for the students each and every bank requires different kind of documents. But here are the details of the requirement of all the banks in common.

Student’s birth certificate and residence certificate containing the attestation of the government officer.

Passport size photo of the student applying , students parents / guardian and the guarantor’s photo.

Mark sheets or the copies of previous academic qualification score.

Students parents or guardian’s current income certificate.

If there is any property kept equal to the education loan amount , the government certificate regarding that if any Student applying for education loan or his parents/guarantor’s last 6 months bank account statement details.

If applied for studies in abroad, the student should submit passport or visa , flight ticket bill and all.

Apart from these there are possibilities that the banks will ask some documents particularly for them. It is necessary for the students to provide them.

Eduation loan is easier when approach with the documents


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.