Education and Career Forum

Hello Sir,
I want to know the limit one can
apply for Bank Education Loan for
doing MS in Abroad?
Kindly tell me about the limit.
With Regards-

The main aim of the educational loans is to provide financial support from the banking systems for all meritorious and deserving candidates to pursue their higher studies.

ELIGIBILITY CRITERIA :

1. Candidate must be a citizen of India.

2. Candidate should have secured admission in professional or technical course through entrance examination/ selection process.

3. Candidate should have secured admission in any of the recognized university/ institution.

* For studies in abroad the maximum ceiling for educational loan is Rs.15 lacs.

* For studies in India the maximum ceiling for educational loan is Rs.7.5 lacs.

The banks offers student education loan to meet all education funding needs. The Education loan is provided to the student who cannot afford to study in Abroad. The maximum limit for the education loan is different for different banks. some of the banks will provide maximum amount of Rs. 20,00,000/- and some banks will provides maximum of Rs.30,00,000/-. The maximum limit for Bank Education loan is Rs. 30,00,000/-.

First of all you have to fulfill all the constraints specified by the bank for getting the education loan. For your current query, i want to tell you that the maximum limit of education loan is 15 lac if a student goes abroad to study. However with in the same country the maximum limit reduces to 8 lac. In the above text i am talking about government banks but there are some limited and private banks also that provide a huge amount of education loan as per your requirement. But they demand some security treasure from you for giving you loan.

Originally Posted by Unregistered

Hello Sir,
I want to know the limit one can
apply for Bank Education Loan for
doing MS in Abroad?
Kindly tell me about the limit.
With Regards-

You can apply upto 20 lcs for the education loan for the abroad study. Since, MS itself is very costly and if done from outside of India then automatically, the education expense increases. So, you can apply for the 20 lac of loan. The bank that will give you the loan at an ease are HDFC bank and HSBC bank.

Originally Posted by Unregistered

Hello Sir,
I want to know the limit one can
apply for Bank Education Loan for
doing MS in Abroad?
Kindly tell me about the limit.
With Regards-

Education loan has become one of the options for studying higher studies because it becomes a tax redemption method after getting a job post graduation or Post graduation.

Talking about the eligibility, you should be an Indian national and have secured admission to any higher studies after 10+2 or equivalent. Or where you have taken admission on the basis of qualifying examination and based on marks you scored.

There is a cut off marks for General i.e. 60% and for reserved categories its 50%. There are few other benefits for those who are women like a rebate of .5% will be given on rate of interest for the loans up to 10 lacs in India and Rs 20 lacs for studies abroad.

1% interest concession is provided for loan holder if the interest is serviced during the study period or moratorium period and regular repayment of installments during repayment.

Limit of loan amount::
For studies in India: Maximum Rs.10.00 lacs.
For studies abroad: Maximum Rs.20.00 lacs.