Education and Career Forum

What are the possibilities of getting educational loan in India? Which would be the best bank to take the educational loan? Can someone please provide me the information on this? It will be really helpful if you can provide me the answer on this.

There are ample bank to choose from in order to take education loan in India. You need to comply with the terms and conditions of the education loan and complete all the formalities of the concerned bank to get your education loan sanctioned. The list of banks is attached below for your kind reference. You can choose any bank as per your personal convenience since the interest rate is same for almost all banks. You need to check the subsidy part in different banks which might help you in choosing one bank. You should choose the bank as per the processing speed and cooperative nature of its employees.

Yes, there is 100% possibility of getting education loan in India without any difficulty. Candidates from any background can get education loan for professional courses like B.Tech, MBA, MBBS etc from private or public sector banks of India.

Recently, Central Government of India launched an online education portal which makes sanction of loan more easily. You need to register at that portal and provide all necessary details. Within stipulated time, it will respond back how much loan can be sanctioned to you and rate of interest and other details.

State Bank of India would be the best option for taking education loan in India.

Official website: http://https://www.vidyalakshmi.co.in/Students/

Educational loan are very common in India. It is provided to those students who got admission in any professional course such as Engineering, Medical, Hotel Management etc.

**Now a days almost every bank provide the educational loan. But it’s better to take the educational loan from a nationalized bank as it has lower interest rate and also provide interest subsidy for economically weaker students.

Following are some good nationalized banks in which you can try:

--SBI

--Central Bank of India

--Punjab National Bank

--Canara Bank

**If you want to know then you can go through the attachment. This attachment has full details regarding the educational loan.

In present scenario, Central government has focused much on Education loan. The main motto is to sanction loan to candidates who need financial assistance for carrying out higher studies or professional courses.

Reserve Bank of India which is India's Central Bank has directed all public and private sector banks to sanction education loan as much as possible. Now process of taking education loan has become very simple.

You can simply register at http://https://www.vidyalakshmi.co.in/Students/ and through a single form, application to multiple banks for education loan is done.

State Bank of India is the best public sector bank for Education Loan.

The main aim of educational loan is to provide financial support for all eligible and meritorious candidates who wish to purse higher education and for the candidates who are economically backward.

To avail educational loan the candidate has to meet the following criteria:

* The candidate must be a Indian national.

* Candidate must have secured admission in any of the valid and recognized technical or professional course.

* Candidate must have secured admission either through entrance test/ selection process.

If you meet the above criteria then approach a nearest bank and procure an application form and fill all the necessary details and submit it back by attaching the required documents.

If the loan amount is below Rs.4 lacs then one doesn't necessary to keep collateral security. But if the loan amount is above Rs. 4 lacs then one must keep collateral security equal to loan amount and a third party guarantee.

All nationalized banks offer educational loans. The best bank to apply for educational loan is State bank of India.