Education and Career Forum

Hello everyone, my father is insisting me to apply for an education loan from Nainital Bank as I am interested to do BSc(Hotel Management) course. Can I know about the benefits which I will get if I apply an education loan from this bank? Kindly tell me about this.

Education Loan simply finances your education for the time being when you don't have enough resources to finance your education.

The objective of education loan is that you should not face difficulties in getting the education you want, for the lack of resources.

However, bank charges interest for the services they provide but you have to pay the amount once you complete the education and in condition to repay it.

Benefits of applying for an Education Loan in Nainital Bank for BSc(Hotel Management) aspirant:-

Some of the benefits available for getting an education loan in Nainital bank for:-

1 - Students can get up to Rs 20 lacs for studies abroad attractive interest rates.

There is no minimum qualifying marks for availing in education loan.

Students can get education loans are courses like MS, MBA, MCA job oriented professional or technical courses, conducted by CIMA - London, CAP in USA etc.

The above given are some of the benefits available under Nainital education loan scheme for studies abroad.

Benefits of applying for an Education Loan in Nainital Bank for BSc(Hotel Management) aspirant?

Collateral security for availing an education loan.
HDFC Education Loans are available up to a tenure of 15 years, including a moratorium period
Repayment starts either 1 year after course completion or 6 months after obtaining employment (whichever is earlier)
HDFC education loans are available for short duration/ job oriented courses.
You can also avail the tax rebate offered under section 80-E of the Income Tax Act 1961 for the entire interest amount paid towards your education loan.
No processing fee is charged for loans up to 10 lakhs.

Benefits of the Vidya Lakshmi Educational Portal:-

All the information related to education loans is provided in one place, i.e., Vidya Lakshmi portal.

It gives a simple way to apply for education to different banks through a single student form.

It also provides a link to the National Scholarship Portal to view and apply for government scholarships.

It allows students to contact the respective bank for their queries and complaints.

Banks can also download the student loan application form.

Banks can also upload the status of loan processing.

It provides the direct transfer of loan amount to the associated bank account of the student without getting in touch with Agents.

This portal provides faster processing of loan amounts without any hidden charges.

The benefit of applying for an Education Loan in Nanital Bank is it covers courses that are only regular full-time degree or diploma courses that the student has secured through merit. This education loan is transferrable that is basically a process of transferring high-interest debt from one to a lender with a lower interest rate and better repayment policies. Nanital Bank loan features are given below.

--> It gives collateral security for availing of an education loan.
--> HDFC Education Loans are available for up to 15 years of tenure including a moratorium period.
--> The repayment starts either 1 year after course completion or 6 months after obtaining employment whichever is earlier.
--> HDFC education loans are available for short duration/job-oriented courses.
--> You can also avail of the tax rebate offered under section 80-E of the Income Tax Act 1961 for the entire interest amount paid towards the education loan.
--> There is no processing fee charged for loans up to 10 lakhs.

Opting for education loan reduces the strain on family savings.

Eliminates the need to liquidate your investment and fixed deposit , mutual funds or bonds.

Interest on an education loan is eligible for tax rebate u/s 80E.

Offers loan at lower rate of interest.

Covers maximum of expenses related to education.