Education and Career Forum

sir,
i am the student of mca sem-1, i passed my graduation with last sem by 72 paecent in bca and applied for loan for pg-mca.but 10th,12 i have a compartment in one subject.so manager reject my loan application.i got loan for mca or not.
thankingyou

Education loan is granted by various banks for pursuing professional courses like MBA, MBBS, MD, Engineering etc. Bank interest varies between 12 to 13 per cent annually. Incase of India, you can get a loan of Rs 10 lakh approximately while for abroad studies, Rs 20 lakh can be granted. Some banks can provide loans amounting Rs 1 crore against residential property like land.

Hello Friend !!

Loan will be sanctioned based on the confirmed admission but not on the previous academics.

Most of the Banks will consider the admission letter of next pursuing course and then sanctions the loan whose amount is equal to the tuition fee for every year of that course.

So if you have any compartmental in 10+2, this won't effect to the loan, you can apply to loan.

Sanctioning of loan depends on the security factors you provide or the strong borrower or guardian on behalf of you.

Visit the Govt. Aided banks to get loan easily and also at less rate of interests, while in private the repay tenure will be less and also the rate of interests will be high and terms and conditions will also be more.

Usually the education loan repayment period is between 5 and 7 years.

And starts from one year after the course completion
or
Six months after securing a job, whichever is earlier.

All the Best !!