How much percentage Required for Education Loan?- Are you a student? or do you want to know the eligibility criteria for Education Loan?. So you are here at the right place to get the essential information about education loans for students. please continue reading this article so that the information you want to know about is education loans,
Education Loan insists an aid overcome the financial situation of a student may continue study ahead with the loan, majority of students are unable to continue their further study due to financial issues, therefore, seeking an education loan in such a situation is an appropriate option. but it could be only appropriate when They finally receive the Loan from any financial institutions or Banks. because, in all cases, Students may not be considered eligible for education even if such students only aim to continue higher studies. therefore, After reading this article, Eligibility criteria and related terms you will be able to understand, so let’s start Now.
Is 60 % percentage Required for Education Loan?. Please understand it.
Contents
As per my knowledge. the previous qualifying exam must be destined with 60 % passing marks. The banks or other financial institutions may consider it. although. for higher studies decision could be a dream for a student can have a right and none can deny doing that. But Financial scarcity in between of Study period may be a challenging situation.
Let’s assume that you appeared in an exam based on an international qualifying test. here Qualifying marks vary on your intelligence let’s say it approx 80% to allow your seat for abroad study, but if your distinction marks in that test reach up to 85%.so you may approach a Bank to provide you education loan, Although Many state Governments of India have launched many schemes for Students to continue their higher education or who wish to accomplish.
What the Banks insist on Education Loan
The Bank can’t insist on the percentage required up to 60%. and the sanction of education loans is not free. students must meet the Qualified criteria for further study compliance, like, it should be an advantage to provide the Loans to the students whoever may have qualified the particular exams or allotted the seat for further admission. some students may take the admission through management quota, while most of them qualify for the test without any quota. But the financial scarcity has to be confessed by both types of students( especially economically disadvantaged), whether they come and take admission under management quota or not.
So when you go for an education loan, you must accept these things which I mention below-
- Education Loan is not free even if they do not consider to repayment soon.
- It has a lowest interest rate than other types of Loan.
- It is repaybale with interest after a certain time period.
- All necessary documents to be provided during the Education loan you avail.
- Global ed vantage scheme permit to those having sorts of professional and finanical profile can avail Educational Loan.
Which Banks provide Education loan Easily ?
Almost All Nationalised Banks in India provide Education loans to Students, Students should check their own to avail of this Loan, here I mention a few Lists of Indian banks along with the Loan amount and interest rate as well.
| Bank Names | Education Loan amount | Interest Rate |
|---|---|---|
| Bank of Baroda | Rs.8 Lakhs to Rs.80 Lakhs | Male – 10.7 % & Female- 10.2 % (For Non-prime university) For Prime University list – Male students- 9.95% and Female – 9.45 % |
| SBI Bank | RS. 8 Lacs to RS. 1.5 cr | Male- 10.2 % Female- 9.7 % after the insurance |
| ICICI Bank | Up to Rs 40 Lakhs | from 12.5 % to 13.99 % for UG Courses, for PG Courses – 11.75 % |
| HDFC Bank Education Loan | Up to Rs 30 Lakhs. | 9.95 % |
Documents required for availing Education Loan In India
To avail student’s loan, below document lists are necessary to provide to the lender or financial institutions,
- Academic Institute Admission Letter with Fee break-up.
- SSC,HSC,Graduation Marksheets.
- Age proof.
- Identity proof.
- Signature proof.
- Residential proof.
- Income certificate.
- Bank Statement / Pass Book of last 6 months.
- Self-emplyed (Last 2 Year ITR with Computation of Income).
- Self-employed(Last 2 Years Audited Balance Sheet).
- Latest Photograph (Signed Across).
- Optional – Guarantor Form.
- Demand letter from college/university.
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