Study Abroad, Education Loan in India, Foreign, Student Education Loan, Scholarship, Learning

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Higher Education Loan, Student Loan, Study Abroad Loan...

In past, some years back, higher education was not affordable to some bright students due to lack of finance. There was no alternative but to jump in to job market prematurely. And this led to the end of promising talent and forceful transformation into the mediocrity.

There had been scholarships but they were very few in numbers. Only luckier could be able to get it.

But now the scene has been changed completely. And that happened due to the boom in the Indian Economy. Now, Education Loans are easily available and the students in need of finances are taking benefits of this facility. This scene is encouraging more and more students to take up higher education despite the lack of finances. Many Nationalized Banks are offering affordable Education Loans to the right students to study in India as well as out of India.

Career development with the help of Educational Loan is very good idea, especially for those who lack behind in their career due to financial limitations. If you have a talent, and a burning desire to succeed in career path and money is in the way of it, you can go for Educational Loan, which is grooming day by day in India.

An Education Loan is financial funding from the Financial Institution or a Bank. All the graduation, post-graduation courses approved by the state and central Government and the foreign universities are being funded. For the benefit of the prospective students, there are many Universities which have been tied up with some of the banks. For Education in India one can get up to Rs. 10 Lakhs and for Education abroad, it is up to Rs. 30 Lakhs.

Each and every bank has its own term and condition to provide the loan.

But the common factors the Bank consider while dispersing the loan for education in India or Education Loan for Abroad are:
  • Nature of Course
  • Total Assets of Student’s Family
  • Family Income of the Student
  • Reputation of Educational Institution
Banks generally do not ask for Collateral Security for the Education Loan up to Rs. 4 Lakhs and the Interest Rate will remain Prime Lending Rate (PLR). In the case of the Education Loan above Rs. 4 Lakhs, the Interest Rate will be PLR plus 1 per cent. And some Financial Institution may ask for third Party Guarantee for Higher Loans.

There are some Financial Institutions and the Banks who offer quite lower Interest Rate for Women Students. You do not have to re-pay loan amount while studying. The re-payment process starts after completing the study or starting to work. The Education Loans are generally given for the period of 5 to 7 years.

Now-a-Days, International Education Industry is booming. In recent years, hundreds of thousands of students went to study in US Universities, UK Universities, and Australian Universities, which is all-time high.

Foreign Education is always more expensive. Students who are going for Foreign Education need extra Funding for Travelling, accommodations, and materials. There are many Scholarships and Grants available but they are too competitive and hardly cover the total cost of the Foreign Education.

That is where International Student Loans can help. Eligible Students with US Guarantor is entitled to apply for International Student Loan. It is very important that Students maximize their borrowing from subsidized loans, Scholarships, Personal and Family Funds and any other fund before taking Student Education Loans.

Banks and NBFCs such as: ABN Amro Bank, Allahabad Bank, Bank of Baroda, Bank of India, Bank of Punjab, Credila, Canara Bank, Central Bank of India, Citibank, Dena Bank, HDFC Bank, HSBC Bank, ICICI Bank, Indian Bank, Oriental Bank of Commerce, Punjab & Sindh Bank, Punjab National Bank, Standard Chartered Bank, State Bank of India, UTI Bank, and Vijaya Bank provide Education Loans.

Whether it is a Domestic Education Loan or It is a Foreign Education Loans, will help you in smooth dispensation of Domestic Education Loans as well as International Education Loans.

For More Information Contact:
Rizvi Park, E28, Ground Floor,
S.V.Road, Opp SBI ATM, Next to Sane Guruji School
Santacruz (West) - Mumbai - 400 0054 India.
Phone : (022) 2661 5092
Cell : 98925 22650
eMail : jsajinkya [at]