Education Loan - Gateway to Overseas Education Funding

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When we talk about loans then first thing to strike our mind is Who & How. we are talking here about the educational loan , which is widely used these days for fulfilling our dreams to study abroad. Most of the parents are sending their wards outside india to get better education despite of starving finacial conditions.

Usually , These loans are being provided by Government and Private Banks with an interest rates based on RBI Repo Rate which is slightly differ depending upon various Parameters. In government Banks the process is cumbersome and lengthy but the rates and benefits are more whereas, in Private Banks it is hassle free to make the Premium little upside.

To get the loan , one must be between the age group of 16 to 35 and must apply for post graduate, graduate or diploma Professional courses. The applicant should also require the co-applicant as a surety for the banks to recover the amount. This co-applicant can be omitted if and only if the applied course is post graduate and the applicant is having more than 2 years of working experience in his individual capacity.

The Institute choosen is the prime concern for banks as they give funding based on the rating and prestige of the college or institution. if we apply for unrated college or course and we fulfill other condition then still our application could be rejected so its necessary to get the eligible institution before applying.

Before applying for the loan , one must take admission in the course and margin money to be kept with the college depends on the conditions of bank. The loan comes also with the moratorium period in which EMI starts after the course and when the applicant starts his/Her Job. But this facility is not available with all banks as certain banks starts the EMI just after disbursing the loan. So, it is must to get in details regarding the interest and charges along with any preclosure requirements of the Bank.

For Detailed video visit: https://youtu.be/srXxoOGm2GY


saket kumar singh

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