Education and Career Forum

I want to pursue PhD for which I need to fund by bank loan. Do bank and other financial institutions provides loan for PhD courses? If yes, please list such banks or financial institutions name and the process to apply for education loan?

Process to get education loan for PhD course:-

> First of all you have to fill the loan application form. You have to fill the details like a contact details, details related to academics etc.

> After application form, a student have to pass the round of personal Decision. Where you may be asked various questions.

> Documents related to admission are mandatory even before the bank considers the loan application. The bank will verify the enrolments of the student from the concerned students.

> One may also require collateral Security such as a paper related to property to be mortgaged if the loan amount is above Rs 4 lakh.

> After it, there is a stage of loan approval or denied.

> Once the loan is sanctioned, the student has to sign a promissory note to the bank.

> Once the formalities are completed, The bank will disburse the loan.

Yes bank provide Educational loan for higher education purpose
>> You need to submit PhD approval letter to bank.
>> You can repay the loan with easy installment.
>> Interest rate differ from 8 to 12 per cent with banks.
>> Make sure that you are doing PhD from top colleges.

Banks providing economical education loan are
*** SBI , Kotak Mahindra bank

To get an education loan for pursuing Ph.D course, you should have obtained admission for pursuing Ph.D course from a Government recognised university. You have to contact the bank manager directly or you can apply for an education loan through online at the respective bank official website and you have to submit the documents like Admission Letter, Income Proof, Address Proof, Identity Proof, etc., to bank for processing your education loan.

Yes, you can get education loan for PhD from banks. There are many banks which provide loan for PhD. Some of them are State Bank of India, Bank Of Baroda, Canara Bank, Punjab National Bank, Axis Bank and etc., banks will offer education loans.

To get education loan you need to visit the bank and ask for education loan and they’ll give an application form for filling and submit few required documents. With in 24hours you’ll be granted loan if you fulfill their requirements. After granting the loan you’ll be given cheque and every month you need to pay the EMI.

For more details visit the official website of Banks or directly contact the banks.