Checklist of Documents to be submitted along-with duly filled Loan Application Form
- Mark sheet of 10th, 12th, Graduation (if applicable), Entrance Exam Result.
- Proof of admission to course [ Offer Letter/ Admission Letter/ ID card if available]
- Schedule of expenses for course.
Consequently, can I get 20 lakhs education loan?
The Credit Guarantee Fund for Education Loans (CGFEL) Scheme provides a guarantee for education loan dispersed by banks under the Model Education Loan Scheme of Indian Banks’ Association (IBA). … Under the CGFEL scheme you can get a loan up to Rs 10 lakh for study in India and up to Rs 20 lakh for studying abroad.
Besides, how can I get a student loan to study abroad?
Following documents are required to apply for an education loan for abroad studies:
- Filled application form.
- Photographs: Passport size photographs of the applicant and the co-applicant.
- Photo ID: Photo ID of the applicant and the co-applicant. …
- Residence proof: Resident proof of the applicant and the co-applicant.
How much loan can I get from SBI for education?
SBI Education Loan Interest Rates
| Schemes | Maximum Loan Amount | Interest Rates |
|---|---|---|
| SBI Scholar Loan | Rs.40 lakh | 6.85% to 8.15% |
| SBI Global ED-Vantage | Rs.1.5 crore | 8.15% to 8.65% |
| SBI Skill Loan | Rs.1.5 lakh | 8.15% |
| SBI Take Over of Education Loan | Rs.1.5 crore | 8.15% to 8.65% |
Is HDFC credila accepted for UK visa?
Embassy accepting HDFC Credila Education Loan:
An overseas education loan from HDFC Credila is the only NBFC that is accepted by all the country embassies. Right from USA, UK, Canada, Australia, New Zealand, Germany the education loan from HDFC Credila is accepted by all the major study overseas destinations.
Is property needed for education loan?
Get a loan easily
In some cases, if you get admission into a reputed institution, say one of the IIMs, banks may not ask for collateral even for loans of higher amounts. If the collateral is required, it can be in the form of property or a fixed deposit, among other options.
What is the maximum amount of student loan?
The maximum amount you can borrow depends on factors including whether they’re federal or private loans and your year in school. Undergraduates can borrow up to $12,500 annually and $57,500 total in federal student loans. Graduate students can borrow up to $20,500 annually and $138,500 total.
What is the rate of interest for HDFC credila?
HDFC Credila Education Loan Features & Benefits
| S.No. | Features | Credila Education Loan Details |
|---|---|---|
| 2. | Interest Rate (ROI) | 11% to 12.5% |
| 3. | Processing Fee | 1 % to 1.25% of the loan amount |
| 4. | Margin Money | NIL; Finance up to 100% of the expenses |
| 5. | Loan Tenure | Up to 10 years |
Which bank gives education loan without collateral for abroad?
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 |
Which bank is best for education loan for abroad in India?
Compare Top Education Loan Offers 2021
| Name of Bank | Interest Rate (p.a.) | Processing Fees |
|---|---|---|
| Bank of India | 8.95% to 9.75% | Nil for courses in India Rs.5,000 + other fees for study abroad |
| Kotak Mahindra Bank | Up to 16% | Contact the bank |
| Federal Bank | 10.05% onwards | Contact the bank |
Which bank is best for overseas education loan?
Top Education Loans Providers in India for Study Abroad
- HDFC Bank. HDFC Bank offers education loans with preferential interest rates for reputed universities. …
- State Bank of India. …
- Axis Bank. …
- Punjab National Bank. …
- Bank of Baroda. …
- Canara Bank. …
- IDBI Bank. …
- Avanse Financial Services.