Education and Career Forum

Need education loan information for pursuing FSC (Medical) course in India?

You can get education loan in pursue FSC ( Medical ) course in India. The maximum loan amount which you can opt is 10 lakhs. There are various terms and conditions as per the loan amount which you opt like you need third party guarantor for loan above 4.5 lakhs, mortgage for loan above 7.5 lakhs. The education loan is usually sanctioned if you get admission in a recognized institute. You need to approach any bank near your residence and talk to the branch manager for education loan. The rate of interest is fixed by Reserve Bank of India and fluctuates from time to time. The interest is accounted as simple interest for the entire study period after which it will be accounted as compound interest. You need to approach the bank with the prospectus of the concerned institute in which you want to seek admission.

You are eligible to apply for educational loan to pursue medical course.

To apply for educational loan one must be an Indian national and he/ she should have secured admission in any of the recognized college/ university.

The documents attached for applying educational loan are as follows:

* College admission letter including fees mentioned in it.

* Address and Id proof

* Security

* Bank statement

Almost all nationalized banks offer educational loans to pursue higher education.

The minimum educational loan mount sanctioned is Rs.7.5 lacs for studies in India and Rs.15 lacs for studies in abroad.