Education and Career Forum

Sir i want education loan for civil engineering. What is procses for edu loan please help me and which bank for edu loan?

You can definitely take education loan from any nationalized or regional banks to pursue Civil Engineering. However you need to follow certain steps and complete certain formalities to get your loan sanctioned. Here are the steps you need to follow in order to take loan.

--> First of all, approach the bank nearby your locality where you have an account.
--> If you do not have an account, you need to create it.
--> Have a discussion with the branch manager regarding the loan.
--> The branch manager will tell you about all the documents to be furnished and the formalities to be completed.
--> If you take a loan less than 4.5 lakhs, no mortgage is required but above this mortgage will be required for SBI and for others it is above 7.5 lakhs.
--> The interest rate of SBI is 1% lower compared to other banks hence you have to pay lesser interest as compared to other banks.
--> The interest is usually calculated as simple interest.
--> You need to furnish all the requisite documents to the bank as per the instructions of the branch manager like the recognition certificates of your institute, your provisional admission or counselling certificate,etc.
--> After that the bank will investigate the originality of the documents.
--> If everything is proper, it will ask you to sign some documents of loan and will sanction the loan.