[Video] How to get an Education Loan in India?
Hello everyone. Let’s quickly go to the question which we have for today, It’s from Raju, Maharashtra. The question goes like this “How to get an Educational Loan in India?”
Getting a education loan is quite simple.
-> First things first - You need to select the college which you are planning to join for pursuing your UG degree. Usually there will be representatives from banks who are tied up with the colleges for taking education loan so identify them when you go to college for carrying out the admission process. Feel free to ask the college officials for the same.
-> If you prefer you can go straight to the banks where your parents have an account already and talk with them about the possibilities of taking up the Education loan.
-> Make sure you discuss everything in detail so that you are sure about what’s the interest rate, timeline for repaying money and other formal informations.
My personal advice will be to pick up SBI bank for education loan because they usually have lower interest rates for education loan when compared with others.
To summarize, to get an education loan you need to (one) Select the college (two) Meetup the bank representatives (three) Collect complete details before accepting the loan and signing the papers.
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