#1  
12th January 2018, 11:42 PM
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Are there any banks or financial institutions which provide interest free education loan?


I want to pursue M.Tech but, I'm financially not sound. Therefore, I'm looking to take a loan for it. Please, let me know if any bank or financial institution provide interest free education loan or not?





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  #2  
1st April 2018, 09:29 AM
ME471
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Join Date: Mar 2015
Location: Kurukshetra
Posts: 5,840
Default Re: Are there any banks or financial institutions which provide interest free education loan?

No bank or financial institution will sanction education loan with zero interest. You have to pay some interest on the loan you apply for education purpose, however, the rate of interest may vary from bank to bank.
For your kind information, I want to tell you that, you have to pay the education loan after completion of education. You can start paying the education loan in installments after 6-12 month of completion of education.

To apply for education loan, you are required complete fee structure of college on letterhead. You have to visit the bank and submit the necessary document like photocopy of 12th mark sheet, identity proof, address proof, affidavit as per bank requirement, passport size photo etc. After completion of loan process, the bank will issue you a Demand Draft in favor of college and the same amount will be debited in your loan account.
Do you have any question? or have anything to say?



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