Education and Career Forum

Hello,
I want to do B.Tech and my parents can't bear the expenses. That is why I am planning to get information about Bank Education Loan. Can you please provide me the details of such Loan for my study?

To get an Education loan for pursuing B.Tech course, you must have secured admission in B.Tech course through merit basis or through entrance examination. You need to submit the below mentioned documents for getting an education loan to study your B.Tech course are :-

1. Address Proof
2. Income Proof
3. Identity Proof
4. Admission Letter
5. Entrance examination Rank Card
6. Passport Size Photographs
7. Application form
8. Collateral Security (if loan amount exceeds more than Rs.7.5 lakhs)

You can apply for education loan in bank to pursue the above mentioned course, but make sure that you should have had good marks in your 10th, 12th and entrance examination in order to stand a good chance to avail education loan.

The process is quite simple, you just have to visit the bank branch and fill up the application form. They will ask you for some details and documents of your education and some mortgage papers also.

After the documentation is done, and the bank is convinced of your loan amount, they will probably dispatch the amount in your bank account to study further or will tie up with the Institution where you are pursuing your course from and pay the session fee on your behalf.

But I am not sure about the loan amount, they might provide only a certain percentage of the total course fee and not total amount.

Educational loan is provided to those students, who pursue professional course such as Engineering, Management, Hotel Management etc. You want to do B.Tech and interested to take the educational loan for this course. Yes, definitely you can apply for the educational loan for this course.

Documents Required:

--Admission slip which you got from the college at the time of admission

--Xerox copy of 10th, 12th marks sheet

--Color Photograph

--Xerox copy of address and identity proof

--ITR file of your parents/ guardian

Procedure you have to follow for applying the educational loan:

>>Visit to nearest bank branch from which you want to take the educational loan. Then fill the application form.

>>In the application form you have to fill your personal details, academic details, loan details etc.

>>In the loan details you have to write the tuition fee of college, Hostel fee etc.

>>After filling all the details you have to submit the application form with all the relevant documents. Your application form is firstly validated by the bank official. After validation from the bank your loan will be sanctioned within 10 days. In my opinion you have to take the educational loan from nationalized banks such as SBI, PNB etc as these banks have lower rate of interest than private banks as HDFC, ICICI etc.