Education and Career Forum

Friends,
My son is studying in 12th standard and preparing for entrance exams to do B.Tech course. I want to apply for Education Loan from Bank for him. Can you please tell me which Bank I should prefer?

There are many banks which provide education loan to students in order to pursue their studies. The list of banks is attached below for your kind reference. You can opt for any one bank among the ones mentioned in the list as per your convenience. You should give State Bank of India high priority since its interest rate is 1% lower than other banks. If you want to opt for other banks, it is better to go for the one which is near to your residence preferably where you/your family members have account.

Educational Loan is given by government for higher studies. It is not provided in case of preparing for the entrance exam of B. Tech course..

**You will get educational loan when you got admission in any AICTE approved college and you have the admission slip or college letter for admission..

**At this time you can take Personal loan to continue your son's preparation for entrance exam..

Following are the documents required:
--last 6 month pay slip or last 2 year ITR
--address and identity proof..
--2 or 3 photo

**After taking all these documents visit to the nearest bank office.. You have to fill a form and submit all the photocopy of above relevant documents.. your loan will be sanctioned within 10 days after validating through the bank official..

You should take the Educational Loan from SBI( State Bank of India) as the Interest rate of SBI is 1% less than any other bank when it comes to Bank Educational Loans.
So you must give preference to SBI when you are choosing banks to take the Educational Loan for your son.