Nov 21, 2015 10:54 AM
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AK NUMVER BANK H.FADU BANK IN RAJASTHAN.
Rate of Interest
Upto Rs.4 lacs - 11.25% p.a, above Rs. 4 lacs and upto Rs.7.50 lacs - 12.75% and above Rs.7.50 lacs - 11.75% p.a
Financing the high-priced education is a matter of concern for all such parents. These days, graduation courses like BBM, BHM, BSC, B.Com etc., cost between Rs 50, 000 to Rs 100000 per year. An engineering degree costs between Rs 75, 000 to Rs 2 lakhs per year. And a MBA course will cost you anywhere between Rs 2 lakhs to Rs 10 lakhs per year. While for a five-year medical course at a private college, this could go up to Rs 50 lakh
The rising cost of higher education has become prohibitive and many are not able to afford it. And that is where education loans can help students and their parents. Education loans have made life easier; it is one of the popular means to fulfil academic dreams these days. These loans cover most expenses one can have as a student, like tuition fee, hostel fee, refundable deposits, laptops, etc.
Availing education loans in India is not difficult if you know how to choose bank and the educational loan as majority of the banks in India are providing easy educational loans to the Indian students.
I preferred to take education loan for my nephew for the engineering course from State Bank of India. It has been a good experience with banking with SBI for Education loan as the concerned officials were cooperative in terms of documentation and other related issues.
Let me share few important details about the SBI Education loan which may be useful for parents and students to apply.
Eligibility and Courses
For the Indian students for pursuing higher education in India or abroad where admission has been secured. Graduation courses/ Post graduation courses/ Professional courses, other courses approved by UGC/Government/AICTE etc,
For studies in India - maximum Rs. 10 lacs and for studies Abroad - maximum Rs. 20 lacs.
For loans up to Rs.4 lacs - No Margin. For loans above Rs. 4 lacs, Studies in India - 5% and Studies abroad - 15%.
