Friends, although you will get to see many ways where you can easily take a student loan, but if the loan can be taken online then it becomes even easier, so read today's information carefully and you will really get 100% education loan easily if you are eligible,
Today here we will know how and where to take an online education loan, here you will easily get a loan of 20 lakhs or even more, here you will need to take just a few easy steps to take a loan and without any additional payment you can easily take an education loan here, if you also need a loan for studying outside the country, then here you can take a loan of up to 40 lakhs if you are eligible,
Benefits Of Online Education Loan
- The biggest thing is that here you get online education loan, that is, you will not need to go anywhere to apply for the loan, you can apply from home with the help of your phone,
- Here you will easily get a loan of up to 20 lakhs for studying in India and up to 40 lakhs for studying abroad
- You get up to 15 years to pay this loan, in which you can pay the loan in easy EMIs and you also get a holiday of up to 12 months, in which you can not pay the loan EMI in the initial period
- Here to take this student loan, you will not need to make any kind of additional payment before the loan
- If you suddenly need money, you can also take a top up loan here again
- This loan is available to almost all Indians if they are eligible
- For online education loan up to Rs 7.5 lakh, you will not need to give any guarantee
- For loans up to Rs 20 lakh, you will not have to pay processing fee here. For loans more than this But you will need to pay a processing fee of up to 10000
- You will get loan approval quickly
- You can easily avail a loan here by following just a few simple steps
Eligibility For Online Education Loan
- You can take loan for the above courses for studies in India or abroad
- Along with the student, a co-applicant is also required who is working
- Age between 21 to 59 years
- Credit score should be good
- Monthly income is a must
- If you have a savings account in SBI Bank, then you will easily get loan here
- Must be an Indian citizen
Documents For Online Education Loan
- Marksheet of 10th or 12th
- Proof of the course for which admission is to be taken such as offer letter, admission letter, ID etc.
- Details of expenses incurred for this course
- If there is a scholarship then its details
- If there is a gap in studies then details for that
- Photo of the student and the guardian or whoever is taking the loan here
- Details of the property of the co-applicant who is taking this loan on which he wants to take the loan
- Latest salary slip
- Form 16 etc.
Courses Eligible for Marksheet-Based Education Loans
Friends, here online education loan is available for studies anywhere in the country and outside the country, for studies in India, you get a loan of up to 20 lakhs and if you want to study outside the country, then you will get a loan of up to 40 lakhs,
Online Education Loan For Studies In The Country
- In India, you can take education loan here for graduation, post graduation technical diploma course which is conducted by UGC / AICTE / IMC / Government as well as for regular diploma and degree courses.
- You can also take this education loan for teacher training, nursing course which is approved by the government.
- For job oriented courses like MBA, BBA, BCA, MCA, MS etc., you can also take this loan to complete this study in India.
- This loan can also be taken for regular degree or diploma courses like pilot training, shipping etc.
- For studies in the country, you can take online education loan which is from 7 lakh to 40 lakhs. It will be up to lakhs,
Online Education Loan For Studying Abroad
- You can take education loan online from SBI for job oriented profession and technical courses like MCA, MBA, MS etc.
- You can also take this loan to study abroad for courses conducted by CIMA
- For studying abroad, you can get an education loan of 7 lakhs to 1.5 crores if you are eligible,
Interest And Expenses On Education Loan
Taking a loan on 12th marksheet may involve interest and some other expenses. These expenses and interest rates may vary according to the bank and the loan giving institution. A simple list is given below:
- Interest Rate :– Generally, the interest rates of education loan on 12th marksheet range between 10% to 15%. Private institutions (NBFCs) can also charge more than 15% interest.
- Processing Fee :– The processing fee of the loan can be around 1% to 2%. This is a one-time fee, which is deducted from the loan amount.
- Late Payment Charges :– If you are unable to pay the EMI on time, then a late fee may be charged, which is usually 2% to 3% per month.
- Prepayment Charges :– Some banks charge an additional fee for repaying the loan amount early, which can range from 2% to 4%.
- Documentation Charges :– In some cases, a documentation fee is also charged, which can usually range from Rs 500 to Rs 1000.
- Insurance Premium :– Some banks also insure the loan, the premium of which may be included in the loan amount.
How To Take Online Education Loan
There are many banks and financial institutions that provide loan on 12th mark sheet which provide financial help to students for further studies. Major government banks like State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda offer education loan, in which eligibility is seen on the basis of 12th mark sheet.
Apart from this, private banks like HDFC Bank, ICICI Bank and Axis Bank also provide such loan to students. Non-banking financial companies (NBFCs) like Bajaj Finserv and Tata Capital also offer personal loans with less documentation, which can be a good option for students.
Conclusion
Some banks offer interest rebates during the course of study and also give the option of starting the loan repayment process after the completion of studies. There are special conditions for this, which you can check with the bank. If you have any question regarding this post, then you can tell us by commenting in the comment box given below. Your feedback and suggestions are welcome as always. Thank you.
