Education and Career Forum

Hello,
I want to study B.Arch as I am studying
in 12th at Guwahati. If I want to apply for
Education Loan and do B.Arch in Bangalore then
I have to apply through college, or I can apply
directly from Bank with college interference?

Originally Posted by Unregistered

Hello,
I want to study B.Arch as I am studying
in 12th at Guwahati. If I want to apply for
Education Loan and do B.Arch in Bangalore then
I have to apply through college, or I can apply
directly from Bank with college interference?

Choosing field of Architecture in India these days seems to be wise after 12th as there is lot of scope, but due to financial strain you are getting skeptical to go for B.Arch admission. Also being in 12th class which is a board class, you need to first concentrate on your studies as this will be the key criteria and important factor for getting loan approved. These days all banks are keeping a cut off for students like 50% for reserved categories and 60% for General category.

Once you score more than 60%, and also if you are a meritorious student getting loan approval is very easy from banks (Both private and nationalized banks).

Regarding your query, whether you have to apply through college or through banks, then I would suggest you to ask and have a question answer session with the college whether the college has any tie up with any banks or private banks which provide loan. If not, then you can go for your options. If you are opting private then you have to pay interest monthly and if you go for nationalized bank then there will be a moratorium period of 24 months or 48 months as per the duration of the course. Once you get job after your graduation, just after 6 months your EMI will start with interest.

Good part of taking loan from nationalized banks is that, you can pay as much as you can every month. There is no bar of maximum amount. Below are the lists of Top companies/banks private and public sector who provides loan, they are:

Private:

• Avanse
• Credila
• AXIS Bank
• HDFC

Public Sector:

• SBI
• PNB

There is no need of college interference to get your education loan sanctioned. Usually colleges do not interfere. You need to approach the concerned bank which is close to your residence for education loan. However, you need few documents from your college like the admission letter, prospectus of the college, the fees letter in order to get your education loan. This is because the bank will check the validity of your admission, the reputation and exposure facilities of the institute. It also requires the fees letter from the college to disburse education loan amount accordingly.

I AM STUDYING B.Arch in Deemed university in Tamil nadu..How much I can get as educational loan per year in CANARA BANK?