Multiplier Method
| Salary | Expected Personal Loan Amount |
|---|---|
| Rs. 20,000 | Rs. 5.40 lakhs |
| Rs. 30,000 | Rs. 8.10 lakhs |
| Rs. 40,000 | Rs. 10.80 lakhs |
| Rs. 50,000 | Rs. 13.50 lakhs |
Moreover, can I get 20 lakhs education loan without collateral?
Collateral Required for Education Loan
20 lakhs. Guidelines show that loan taken up to Rs. 4 lakhs does not require collateral security. It is only when the loan exceeds a specified amount as set by the bank that collateral will be required as well as third-party guarantee.
| Loan Amount | Ranging from Rs. 20,000- Rs. 2,00,000 |
|---|---|
| Processing Fees | 2-4% of the loan amount |
People also ask, can I get education loan for IAS coaching?
Nationalized banks like State Bank of India, Central Bank of India, and Corporation Bank have introduced a whole new product of loans catering just to the coaching needs and expenses of students. You can also avail the sum required for coaching expenses from other banks by availing their personal loans.
Can I get loan if I have education loan?
Since students get a moratorium period of six months, they can immediately apply for a second loan. Once the second loan gets sanctioned, the moratorium period of the second education loan will start.
Can I take two student loans?
The simple answer is yes. Two Student Loans can be taken from different banks at a time but generally, this method only increases our monthly EMI burden. Both the banks should be well aware of the other loan taken.
How I check my cibil score?
Check Your CIBIL Score Online:
- Log on to the official CIBIL website and click on Know Your Score.
- Fill up the online form which asks for details such as name, date of birth, address, id proof, past loan history and other relevant data.
- On filling the form and accepting changes, you will be taken to the payments page.
How much home loan can I get on 25000 salary?
25,000, you can avail as much as Rs. 18.64 lakh as a loan to purchase a home worth Rs. 40 lakh (provided you have no existing financial obligations.)
How much home loan can I get on 75000 salary?
SBI Home Loan Eligibility Based on Salary
| Age | Net Monthly Income (₹) | |
|---|---|---|
| 25,000 | 75,000 | |
| 40 years | 50.63 Lakh | 1.01 Cr |
| 45 years | 47.47 Lakh | 94.94 Lakh |
| 50 years | 43.08 Lakh | 86.16 Lakh |
Is Home Credit registered with RBI?
HCIF is a Non-Deposit taking NBFC registered with Reserve Bank of India (RBI). In 2012, the Home Credit Group acquired ‘Rajshree Auto Finance Pvt. Ltd. ‘ (incorporated in October, 1997) for its entry in India market and subsequently on June 5, 2013, the name of the company was changed to its present name.
Is ITR required for education loan?
Also required are the income documents such as salary slips or income-tax returns (ITR) of the co-applicant. The banks can finance up to 100% of the loan depending on the amount. … For loans above Rs 4 lakh up to Rs 7.5 lakh, a third-party guarantee is required.
What is the maximum finance amount offered by home credit?
What is the minimum and maximum loan amount offered by Home Credit India?
| Minimum Loan Amount | Maximum Loan Amount | |
|---|---|---|
| Existing Home Credit Customers | ₹ 10,000 | ₹ 2,40,000 |
| New to Home Credit Customers | ₹ 25,000 | ₹ 2,00,000 |
Which bank gives easy education?
Axis Bank brings you Education Loans for studies both in India and abroad starting from Rs. 50,000 at attractive interest rates. With an Axis Bank Education Loan you can enjoy a host of benefits such as simple documentation, quick loan disbursal, tax benefit u/s 80(E), long repayment tenure, etc.
Which bank loans education faster?
Compare Top Education Loan Offers 2021
| Name of Bank | Interest Rate (p.a.) | Loan Amount |
|---|---|---|
| Axis | 13.70% to 15.20% | Up to 75 Lakh |
| Bank of Baroda | 7.85% to 9.85% | Up to 4 Lakh and above |
| HDFC | 9.55% to 13.25% | Max Apr |
| Tata Capital | 10.99% onwards | Up to 30 Lakh |
Who is eligible for EMI?
You should be between 21 and 60 years of age to apply for an EMI Network Card offline. You should be between 23 and 65 years of age to apply for an Insta EMI Card online. You must have a regular source of income.