Education and Career Forum

Respected Sir,
I am a student of 11th standard and after my 12th I want to study B.Tech. I would like to know the schemes of Education Loan for doing B.Tech course. Waiting for your reply.

You can definitely get education loan to pursue your B.Tech course. However, bank will sanction education loan only when you take admission in a recognized institute having good reputation or exposure facilities. The rate of interest is regulated by Reserve Bank of India and fluctuates from time to time. However, the rate of interest is accounted as simple interest. For loan upto 4.5 lakhs, there are not much terms and conditions as you need to pay only the security margin. For loan between 4.5 lakhs and 7.5 lakhs you need third party guarantor along with deposit of security margin which is around 15% for most of the banks. For loan above 7.5 lakhs, you need to mortgage property along with other norms. You need to visit the bank and have a discussion with the branch manager to get detailed terms and conditions of the education loan.