A person can check the loan status by calling the numbers 1800 3011 3333/ 080-22260281 for any financial queries including Personal Loan. You can also directly go to the branch you apply at to meet the officer in charge to know the status of your personal loan application.
Similarly, can we take 2 education loans?
Well, the answer to the above question is – Yes, a student can be eligible for a second education loan. For this, they can either apply for a second education loan from the bank they already have taken their first loan from or they can apply to a different bank.
Moreover, does Canara Bank provide education loan?
Students may submit their loan applications either at the bank branches near to the residence of parents or bank branches near to the educational institution where they are studying. 0.50% concession in ROI extended to girl students. 0.50 % concession for prompt repayment of interest during moratorium.
How can I check my syndicate bank loan statement?
Steps to check your Syndicate Bank Loan statements
- Visit the official website of a Syndicate Bank.
- Log in to your personal loan account using customer ID and password.
- Click on ‘View statement’.
- For future reference, you can also download the loan statement.
How do I repay my education loan?
The most common method to keep your education loan repayment organized and self-driven is EMI (easy-monthly-installment). EMIs are fixed amount of sum decided at the time of taking a loan which students can pay every month to repay the study loan step-by-step.
Is education loan a trap?
With rising tuition fees, education loans have become a common way to fund higher studies. In some instances, borrowers have a hard time repaying the interest on their loans. As a result, many have to borrow additional loans to close off their student debt, thus falling into a loan trap.
Is education loan good or bad?
Some students take an education loan for graduation and then avail of the top-up facility to complete their post-graduation. “Taking a top up on education loan is bad, because it will increase the liability further. It is better to finish the first education loan before taking the second one,” says C. S.
Is property required for education loan?
Generally, education loans are unsecured in nature.It means you do not have to pledge any asset as collateral. However, education loans with loan amount of Rs. 7.5 lakh or higher, may require collateral. Though there is no cap on the disbursed loan amount, the loan amount can range anywhere between Rs 20-50 lakhs.
Is student loan a good idea in India?
In either case, an education loan is a good idea and a commonly sought after resort. Pursuing higher studies usually involves high fees and an education loan comes in handy at this point. … Such loan is offered to students who want to study in India or pursue higher education overseas.
Is Syndicate Bank merged with Canara Bank?
In April last year, Syndicate Bank was merged into Canara Bank. While the merger came into effect in April 2020, the IFSC and MICR codes are updating from the starting of Financial Year 2022, i.e. from April 1, 2021.
What happens if education loan is not paid?
If you are unable to make repayment on your education loan, then you will receive notices and warnings from the lender. If you fail to comply with the same, then the lender is legally entitled to the assets you mortgaged. Your property or asset can be auctioned or used by the lender.
What is the current student loan interest rate?
6.5% to 9.55% p.a. 8.50% to 9.00% p.a. 7.25% to 9.25% p.a.
Which bank provides education loan easily?
Banks offering Education Loans and Collaterals Required
| Bank | Loan Amount and Collateral Required |
|---|---|
| HSBC | Loan up to Rs.5 lakhs do not require collateral |
| State Bank of India (SBI) | Domestic Education – Up to Rs.15 lakhs Foreign Education – Up to Rs.20 lakhs For loans up to Rs.7.5 lakhs no collateral is required |