Education and Career Forum

Tell me where can i get loan for merchant navy course after my B.tech? Where an I get loan for my Merchant navy course

It's advisable to take loan from National banks like PNB, SBI, Union Bank of India etc. as they have low interest rates and also in certain conditions students can get subsidy in their loan amount as well.
You are eligible to apply for an education loan if you are a resident of India and you are 18 to 35 years old during the loan application.
One should have secured admission in a college or university affiliated with UGC/AICTE/Govt. Bank.

Education loan for merchant Navy course:-

> You are eligible to apply for an education loan if you are a resident of India and you are 18 to 35 years old during the loan application.

> when should have secured admission in a college or university affiliated with UGC/ AICTE/ Govt. Bank.

> those who want to take a loan for diploma in nautical Science as its a diploma will have to explain bank that though it's a diploma course but it leads to a BSc nautical science which is affiliated with IMU.

> There is no education loan for GP rating course.

> You can get a loan for BTech Marine Engineering, BSc nautical science, DNS, and GME.

> Documents required for education loan:-
. Loan application form as per Bank
. Passport size photographs
. Proof of address and age
. Copy of Pan
. Admission letter
. Details of assets and liabilities of parents

> Education loan interest rate - in an education loan the interest is initially simple interest till your first installment period and post that it becomes compound interest. you have to repay your loan with interest and education loan interest rate varies from 6.75% to 15% and varies from bank to bank.

It's advisable to take loan from National banks like Punjab National Bank, union Bank of India, State Bank of India etc.

Those who are Indian resident and have age between 18-35 yrs are eligible for education loan.
They must have secured admission in University affiliated with UGC/AICTE/ Govt bank.
Initially, on loan it's simple interest till you 1st installment period and than it becomes compound interest.
For easy availability of loan, it must be a recognised institution.

--- You are eligible to apply for an education loan if you are a resident of India and you are 18 to 35 years old during the loan application.

One should have secured admission in a college or university affiliated with UGC, AICTE or government bank.

There is no education loan for the GP rating course and you can get a loan for BTech Marine Engineering, BSc nautical science, diploma in nautical science and graduate Marine.

It is advisable to take loans from National banks like Punjab National Bank or State Bank of India or Union Bank of India as they have low interest rates and also in certain conditions students can get subsidy in their loan amount as well.

Merchant Navy course guarantees you a very high paying job after successful completion of the course.

Many banks offer you the loan for merchant navy.

You can visit the banks to know about the terms of loans and decide the bank which suits you the most.

The amount of education loan must below 4 lakh than that can be approved by the branch manager but if it's above that than it's not in his hand, headoffice has to approve the loan.