Free Education Loans

No Credit for Non Recognition Studies

2013-06-16T19:39:00.003-07:00

There is no credit for the non recognition studies

He said: Guideline is a key feature of human life. For the students who are studying reserve bank as given guidance regarding loan providing. You should approach the bank nearby to your house along with the 12^th mark sheets and permission slip for admission in colleges. Education loan can be obtained from all the public sector banks. Financing is available for all the courses. But , first it is necessary to see whether the selected course and the college is a recognized one. If there is no recognition for college or the course selected , then loan will not be sanctioned.

To study in India, Maximum amount upto rs.4,00,000 credit can be obtained. If more than that is required then the parents have to pay 5% of the amount. For studying in abroad the parents have to pay 15% of the fees . For the first year if the amount is paid before getting the loan that amount will be given as a cash to the parents. One year after finishing the studies or six months after joining the job repayment of the loan is to be started. Because of studying through loan , the student should study well and he should try to get a good job .This is the speech given.

Students Getting Credit should Study Well

2013-06-13T19:32:00.002-07:00

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 Punjab National Bank

2013-05-01T08:32:00.002-07:00

Punjab National Bank

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:

Upto Rs.4,00,000 : B.P.L.R + Term Premium – 1.00%

More than 4,00,000 Rs: B.P.L.R + Term Premium – 0.50%

Way of repaying the loan:

One year after finishing the studies or right from 6^th month after joining the job the repayment process is to be started. The loan 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 Punjab and Sind Bank

2013-05-01T08:31:00.001-07:00

Punjab and sind bank

Education loan amount size

On the basis of students repaying the parents loan , the loan is provided.

For the students studying in India maximum amount of upto Rs.7,50,000 will be provided.

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% of the amount and students studying in abroad should pay 15% of the amount.

Interest rate:

Till 4,00,000 Rs.

Bank employee: B.B.L.R – 1.00%

Other public: B.B.L.R – 2.00%

More than 4,00,000 Rs.

Bank employee: P.L.R – 0.50%

Other public:B.B.L.R – 1.50%

Way of repaying the loan:

One year after finishing the loan or right from 6^th 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 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 is required assuring the repayment of loan.

Education Loan in Oriental Bank of Commerce

2013-05-01T08:30:00.002-07:00

Oriental Bank of commerce

Education loan amount size

For the students studying in India, maximum amount of upto Rs.10,00,000 will be provided.

For the students studying in abroad , maximum amount of upto Rs.20,00,000 will be provided.

Advance amount to be paid:

Nothing till Rs.4,00,000

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 : BR + 2.75%

More than Rs.4,00,000 : BR + 3.50%

For girls , students from SC , ST categories and for the disables 0.50% special previliages will be provided.

Way of repaying the loan:

One year after finishing the studies or right from 6^th month after joining the job , the repayment of the loan is to be started. The loan amount should be repayed in 84 month instalments.

Warranty:

No property guarantor is required till 4,00,000 Rs.

From 4,00,000 Rs. till Rs.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 Syndicate Bank

2013-04-30T10:30:00.001-07:00

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 6^th 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

2013-04-30T10:28:00.002-07:00

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 6^th 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

2013-04-30T06:57:00.001-07:00

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

2013-04-30T06:51:00.001-07:00

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

2013-04-30T06:36:00.003-07:00

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	01.08.2011

One year after finishing the studies or right from 6^th 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

2013-04-24T07:10:00.001-07:00

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

2013-04-24T07:08:00.003-07:00

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

2013-04-24T07:07:00.001-07:00

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 6^th 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

2013-04-24T07:06:00.003-07:00

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 6^th 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

2013-04-24T07:05:00.002-07:00

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 6^th 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

2013-04-18T11:42:00.003-07:00

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 6^th 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

2013-04-18T11:41:00.003-07:00

Students getting credit should study well

Education Loan in Syndicate Bank

2013-04-18T11:37:00.002-07:00

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 6^th 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

2013-04-18T11:36:00.001-07:00

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 6^th 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

2013-04-18T11:35:00.001-07:00

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 6^th 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

2013-04-18T11:34:00.002-07:00

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 6^th 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

2013-04-18T11:32:00.003-07:00

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 6^th 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

2013-04-11T06:39:00.000-07:00

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

2013-04-11T06:37:00.001-07:00

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 12^th 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

2013-04-11T06:36:00.005-07:00

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.