Education and Career Forum

Sir,
I am giving my 12th Board exam.
I have also applied for JEE Main.
I want to study B.Tech.
Kindly tell me I can apply for education loan or not?
Which Bank will provide me the education loan and
what I have to do for getting education loan?

Originally Posted by Unregistered

Sir,
I am giving my 12th Board exam.
I have also applied for JEE Main.
I want to study B.Tech.
Kindly tell me I can apply for education loan or not?
Which Bank will provide me the education loan and
what I have to do for getting education loan?

The bank will sanction education loan on the behalf of the university/college. If your college/University is approved by UGC/AICTE or any government Institution, then definitely you are eligible to apply for educational loans for your further studies. Almost all the banks offer educational loan to study in Indian Universities as well as foreign Universities.

After clear your JEE Examination, if you will get admission in IIT's or other top engineering colleges, then definitely you will get education loan easily. The bank will sanction education loans for those students who will get admission in IIT's and other top colleges.

The very first criteria is that, your university must be approved by UGC/ AICTE or other Government Institutions. When you get admission into IITs or any other colleges, then you have to submit your admission proof to the bank.

Documents Required for Education Loan:

1. Proof of admission scholarship, studentship etc
2. Completed Education Loan Application Form
3. Mark sheets of last qualifying examination
4. Passport size photograph.
5. Proof of Address.
6. Proof of Age.
7. Copy of PAN of student Borrower.
8. Proof of having cleared last qualifying examination.
9. Prospectus of the course wherein charges like Admission Fee, Examination Fee, Hostel Charges etc. are mentioned.
10. Details of Assets & Liabilities of parents/co-obligants/guarantors.

The Repayment period depends on the bank, well the general repayment period are,

Repayment period: up to 10 years for loans of Rs. 7.50 lakhs or below and up to 15 years for loan above Rs. 7.50 lakhs. Your Re payment period will start from six months after getting the job or 12 months after completion of the course whichever is earlier.

You can compare the bank loan from various websites online, Choose the bank which you find suitable and then contact the bank directly to get more details regarding education loan.

Here is the list of Indian Banks offering Educational Loan in India:

1. State Bank of India & its Associate banks
2. Andhra Bank
3. Allahabad Bank
4. Axis Bank
5. Bank of Baroda
6. Bank Of India
7. Bank of Maharashtra
8. Bank of Punjab
9. Bank of Rajasthan
10. Bharat Overseas Bank
11. Canara Bank
12. Catholic Syrian Bank
13. Central Bank of India
14. Centurion Bank of Punjab
15. Citi Bank
16. City Union Bank
17. Corporation Bank
18. Dena Bank
19. Development Credit Bank
20. Dhanalakshmi Bank
21. Federal Bank
22. HDFC Bank
23. HSBC
24. ICICI Bank
25. Indian Bank
26. Indian Overseas Bank
27. IDBI Bank
28. ING Vysya Bank
29. Jammu & Kashmir Bank
30. Karnataka Bank
31. Karur Vyasa Bank
32. Lakshmi Vilas Bank
33. Oriental Bank of Commerce
34. Punjab & Sind Bank
35. Punjab National Bank
36. Ratnakar Bank
37. Saraswat Bank
38. South Indian Bank
39. Syndicate Bank
40. Tamilnad Mercantile Bank Ltd
41. UCO Bank
42. Union Bank of India
43. United Bank of India
44. United Western Bank
45. Vijaya Bank.

Education loan is issued by almost all banks of India.

To get education loan while studying Bachelor of technology, you need to do the following things:

1. First visit your nearest bank and talk to the customer care manager and ask him/her to give you education loan form and what documents are need to be attached with it.

2. Fill the application form and attached all concerned documents like education loan letter from your college, PAN card of co borrower, photographs, identity cards etc.

3. Your college needs to be approved by UGC and AICTE.

You can get education loan upto four lakhs without any security or collateral. After verification of your documents, your education loan will be processed.

Originally Posted by Unregistered

Sir,
I am giving my 12th Board exam.
I have also applied for JEE Main.
I want to study B.Tech.
Kindly tell me I can apply for education loan or not?
Which Bank will provide me the education loan and
what I have to do for getting education loan?

Yes, you can apply for the Education Loan while pursuing your first year of bachelor's degree in technology.

But there are certain norms and documentation required to be fulfilled to by each and every candidate who wants to take education loan from Public or private sector banks.

Required documents for applying for Education loan:

>>10+2 passed marksheet.

>>Scorecard of Entrance exam cleared if any.

>>Education loan letter issued by your concerned institute having details of fee structure.

>>AICTE approval letter of your institute.

>>Photographs of yours and your parents.

>>PAN card of both borrower and co borrower.

>>Identity card.

>>If you need education loan more than 4 lacs, you need to submit collateral or a third party witness for your loan.

These all things you need to attach along with the detailed filled application form of education loan of any bank.

After validation of documents, if everything is found correct, bank will issue intimation letter and sanction the required amount in name of your Institute semester wise or yearly wise as per fees required by your institute.

There is no big issue in getting loan from banks for education..This type of loan is termed as education loan.
You must produce your 10+2 marksheet along with fees structure of the course which you are going to carry out.
You have to produce some identity proof in front of bank and some more paper work and then you can get the loans..

Originally Posted by Unregistered

Sir,
I am giving my 12th Board exam.
I have also applied for JEE Main.
I want to study B.Tech.
Kindly tell me I can apply for education loan or not?
Which Bank will provide me the education loan and
what I have to do for getting education loan?

Yes, you can apply for the Education Loan after giving the 12th board and as soon as you take admission int the College. You must apply for the education Loan from SBI as this bank help you to get the Loan at a nominal Cost and you will get much time to repay the Loan at a minimal rate of interest. According to the SBI bank Norms you will be charged the Interest rate of 8.4% .

Originally Posted by Unregistered

Sir,
I am giving my 12th Board exam.
I have also applied for JEE Main.
I want to study B.Tech.
Kindly tell me I can apply for education loan or not?
Which Bank will provide me the education loan and
what I have to do for getting education loan?

Yes you can apply for an educational loan.and apply first in government banks such as S.B.I. and P
N.B.the only thing you need is proper documents

sir, my score in jee mains 2020 is 86 percentiles .can i get admission in any of the nits as cs branh???