Education and Career Forum

Sir,
I am a ST student doing my 12th Science
with scholarship. I know it is very tough
to get scholarship for doing B.Tech.
So, I want to know that if I apply for
Education Loan then I get any relaxation
in Interest Rates?

Originally Posted by Unregistered

Sir,
I am a ST student doing my 12th Science
with scholarship. I know it is very tough
to get scholarship for doing B.Tech.
So, I want to know that if I apply for
Education Loan then I get any relaxation
in Interest Rates?

Various nationalized banks provide education loan to Indian Nationals for pursuing higher studies or technical education where admission has been secured.

As you are looking for any additional benefits by any banks under education loan scheme then I remember Punjab National Bank's additional benefits, they are as follows.

• Interest will be of Simple and will be charged during the study period plus Moratorium period.
• There will be a rebate or relaxation of .5% in the rate of interest if you are women for loans up to 10 lacs for studies in India.
• 1% interest concession will be given to those candidates if they serviced the interest during the course of study or during moratorium period.
• The loan can be disbursed in stages as per the requirement or demand by the Institutions for instruments or equipments.

For those full interest subsidy will be provided during moratorium period to students who are under EWS i.e. Economically Weaker section with a annual gross salary lesser than 4.5 lacs. Being a reserved category there is no relaxation but if you come under EWS then relaxation of interest will be given.

Originally Posted by Unregistered

Sir,
I am a ST student doing my 12th Science
with scholarship. I know it is very tough
to get scholarship for doing B.Tech.
So, I want to know that if I apply for
Education Loan then I get any relaxation
in Interest Rates?

Yes dear, you can apply for the education loan, as this is the best way to study in any of the college without spending your own money. And you can pay it later on. So, i will suggest you to apply for the education loan instead for waiting for the scholarship. This will help you a lot.