Education and Career Forum

Hello,
I would like to know that if I crack in JEE Advanced
then get admission in B.Tech in IIT, then Bank
will provide me education loan and IIT will help
me to get education loan?

Originally Posted by Unregistered

Hello,
I would like to know that if I crack in JEE Advanced
then get admission in B.Tech in IIT, then Bank
will provide me education loan and IIT will help
me to get education loan?

IIT (Indian Institute of Technology) one of the top colleges in India, if you crack JEE Advanced & get seat in IIT's then definitely you will get education loan from any nationalized as well as private banks. Many Nationalized Banks will provide educational loan to the excellent students pursuing various courses conducted by IIMs, IITs, XLRI & top recognized colleges.

Loan amount depends on the bank, many banks give you a loan up to 10 lakhs, If you sanction loan from state bank of Indian, then you can get upto 4 lakhs to 7.50 lakhs.

Many other banks will gives you loan upto 10 lakhs (depends on bank).

~~ Repayment Period: Upto 10 years (Or depends on bank)

Note: Repayment of loan will starts one year after completion of course or 6 months after securing a job, whichever is earlier.

IIT is one of the top famous colleges in India, if you get seated in IITs, then definitely any bank will give you a loan without any problem. The bank will give loan on the basis of the University, if the college/universities are affiliated by UGC and other recognized body, then the bank will give loan easily to the students. To get loan from bank, you must have satisfied the document criteria,

~~ Letter of admission
~~ Completely filled in Loan Application Form
~~ 2 passport size photographs
~~ Statement of cost of study
~~ PAN Card of the student and Parent/ Guardian
~~ Proof of identity
~~ Proof of residence
~~ Student/Co-borrower/ guarantor's bank account statement for last 6 months
~~ IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee)
~~ Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower
~~ Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower.

All the nationalized banks will give you loan easily, if you get admission in IITs. Please check the bank website to compare the loan procedure and rate of interest etc.