#1  
21st March 2015, 08:04 PM
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Detailed information about the Education Loan to study MS in Abroad for B.Tech(Automobile Engineering) student?


Hi Sir,
I am doing B.Tech in Automobile Engineering.
In future I want to do MS but from Abroad.
Kindly tell me for this I can take Education Loan?
I want to know each and everything about education loan.
Please tell me asap.




  #2  
25th March 2015, 07:19 PM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Detailed information about the Education Loan to study MS in Abroad for B.Tech(Automobile Engineering) student?

Yes, you can definitely take education loan in order to pursue your MS degree in abroad. It is nice to see that you are aspiring for higher studies and education loan can definitely help you to pursue your higher studies.

Education loan is given by various banks in India. The list of banks is attached below for your kind reference. The maximum amount which can be sanctioned as education loan is 20 lakhs. The interest is computed as simple interest for the entire study period and the rate of interest fluctuates between 13-14.5 percent as per orders from RBI.

Almost all the banks have more or less the same norms for education loan; however it may differ slightly from bank to bank. Some usual norms are like - if loan above 7.5 lakhs are to be taken, mortgage of property along with third party guarantor is required, different security deposit for different loan amount, etc.

You need to approach any bank close to your residence and have a discussion with the branch manager. He/She will state all the norms and the proceedings which you need to follow to get the education loan sanctioned.
Attached Files
File Type: docx List of banks.docx(11.4 KB, 40 views)
  #3  
26th March 2015, 02:19 PM
ArunavaBasu
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Join Date: Mar 2015
Posts: 2,155
Default Re: Detailed information about the Education Loan to study MS in Abroad for B.Tech(Automobile Engineering) student?

Yes you can get an Educational Loan if you are looking to go Abroad.
Any bank will give you the loan if you go the bank and apply for the loan.
You will need to show all the documents to the Bank from where you are applying the loan as the documents is the key to you getting the loan.
A bank gives a loan after seeing the amount and the capability to repay the loan back.
So you will have to show all the documents to the bank on where you are going to study and how you eventually want to repay them back.
If the loan amount is huge then you will have to give some sort of co-lateral just to show the bank that you have something with which you can repay them.
So just get all the documents in place and you will be able to get your desired loan amount so that you can study Abroad.
  #4  
26th March 2015, 09:46 PM
SmilyRishu
Senior Member
 
Join Date: Mar 2015
Location: YAMUNA NAGAR
Posts: 428
Default Re: Detailed information about the Education Loan to study MS in Abroad for B.Tech(Automobile Engineering) student?

Hello friends..

The solution of your problem is given below...

Many bank are awailable who provide the study loan to the student but the are some prove are asking by bank like the DMC. Now you go to the near Bank and take the loan form. Here you fill the form and attach the certificate which are asking. After that submit your form and your loan is activated as soon.

Thank you
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