Education Loan is a financial tool designed to help students finance their higher education. It provides the necessary funds to cover expenses such as tuition fees, hostel fees, books, and other educational costs.

• Application and Documentation: You apply to a bank or financial institution and provide necessary documents like admission letters, fee structure, and identity proof.
• Loan Approval: The lender assesses your creditworthiness, academic record, and the course you're pursuing.
• Loan Disbursement: Once approved, the loan amount is disbursed directly to the educational institution or you in installments.
• Repayment: You repay the loan in fixed monthly installments, typically after a moratorium period (a period after completion of studies when you're not required to make repayments).

Types of Education Loans

• Domestic Education Loans: These loans are for studies within India.
• Overseas Education Loans: These loans are for studies abroad.

Key Benefits of Education Loans

• Financial Flexibility: Education loans provide the necessary funds to pursue higher education.
• Government Subsidies: Many governments offer interest subsidies and tax benefits on education loans.
• Flexible Repayment: You can choose a repayment tenure that suits your budget.
• Career Advancement: Higher education can lead to better career opportunities and higher earning potential.

* INTEREST RATES *

• Documents Required for Education Loan  ☞  Click Here