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  #1  
15th September 2017, 10:14 PM
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Which bank will grant an education loan to study MBBS course from private college? Interest rate, collateral and repayment period for it?


I want to take admission in private medical college to study MBBS course so, I need much amounts for it. Which bank will grant me education loan? Interest rate, collateral and repayment period for it?




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  #2  
30th September 2017, 05:49 PM
aashisranjan784
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Join Date: Sep 2012
Posts: 8,627
Default Re: Which bank will grant an education loan to study MBBS course from private college? Interest rate, collateral and repayment period for it?

You can approach any Public Sector or private sector bank for Education loan for pursuing Bachelor of Medicine and Bachelor of Surgery course. The list of all banks sanctioning education loan for professional courses is mentioned on official website of Vidya Lakshmi Portal.

For loans above 7.5 lacs, collateral is needed. Collateral can be either residential property paper, LIC bond, Fixed deposit paper etc. Interest rate is linked to Marginal Cost of Lending rate and changes at different intervals of time.
  #3  
30th September 2017, 06:36 PM
AWNISH RANJAN CHAUDHARY
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Join Date: Mar 2012
Posts: 6,738
Default Re: Which bank will grant an education loan to study MBBS course from private college? Interest rate, collateral and repayment period for it?

You can get Education loan from banks like:

1. State Bank of India.

2. Canara Bank of India.

3. Punjab National Bank of India.

4. HDFC, Axis bank, ICICI etc.

The interest rate is not fixed but is around 12-13% and may vary from bank to bank. Till course period plus one extra there is interest waiver after that you need to pay either in EMI or one time.

Loans above 7 lacs require collateral. Collateral can be land papers, fixed deposit papers etc.
Do you have any question? or have anything to say?



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