I request you to grant me a personal loan for higher education at this prestigious university. I will repay the loan amount on time. I have attached my academic records, credentials, acceptance letter and other relevant documents with the letter. I am looking forward to your response.
Moreover, how can I apply for education loan?
Steps to Apply for Education Loan on Property
- Step 1 – Apply Online. Go to the Student Loan application page for the online application form. …
- Step 2 – Respond To Our Representative. …
- Step 3 – Receive Loan Approval Confirmation. …
- Step 4 – Furnish The Necessary Documents.
Additionally, how can I write a letter to bank manager for education loan repayment?
Sub: Regarding loan repayment. Dear Sir, I, Ramesh Gupta, am writing this letter to request you to grant me some extension for repayment of my car loan with your bank. I would like to bring to your notice that my car loan started with your bank in the year 2014 in the month of June for three years.
How can I write a letter to bank Manager for loan?
Sir/ Madam, My name is _________ (Name) and I hold a home loan from your bank with loan amount of _________ (Amount). The loan account number is _______ (loan account number). The loan was sanctioned on __/__/_____ (date) with a tenor of ______ (Months/ Years) ______ (Number of installments).
I would request you to please release the payment of _________ (amount) to the _________ (school/college/university) so the my admission wont get affected. If required, I am ready to visit the bank. But I request you to release the payment at the earliest. Looking forward to your response.
Respected Sir/Madam, I, _________ (Your Name) holding a loan account in your bank having account number ____________ (Account Number). I would like to inform that I took a loan of __________ (Amount) and the tenor of repayment was ________ (Duration of repayment).
Points to Note When Writing a Loan Application
- Address to the right authority.
- Reason for the Loan i.e. how the money will be spent.
- Be Specific about the amount.
- Present positive attributes about yourself to ensure you are trustworthy.
- Mention how you intend the loan to be repaid.
How to write an application letter
- Review information about the company and position.
- Open the letter by describing your interest.
- Outline your experience and qualifications.
- Include aspects of your personality.
- Express appreciation.
- Close the letter.
Respected Sir, It is stated that I am a student of (Subject and department name) at (Institute name). I want a student loan in order to continue my Master’s studies (Educational degree name). I am a talented student and I currently lie among top 2/3/5 (position hold) position holders of the department.
Easily available: Education loans are widely and easily available. In fact, they are a priority product in all banks as per the RBI’s guidelines. Varied loan amounts: Banks can offer loans anywhere between Rs. 2 lakhs and Rs.
Documents required for Education Loan
- KYC documents.
- Bank Statement / Pass Book of last 6 months.
- Optional – Guarantor Form.
- Copy of admission letter of the Institute along with fees schedule.
- Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses.
Kindly issue a Demand draft of Rs. 98000 in favour of xyz college payable at (place) towards payment of my semester fees against the educational loan that has been sanctioned to me.
Compare Top Education Loan Offers 2021
|Name of Bank||Interest Rate (p.a.)||Processing Fees|
|SBI||6.85% to 8.65%||Rs.10,000 + tax|
|Axis||13.70% to 15.20%||Nil to Rs.15,000 + tax|
|Bank of Baroda||7.85% to 9.85%||1% of loan amount up to Rs.10,000|
|HDFC||9.55% to 13.25%||Up to 1.5% of loan amount + tax|