A complete system of educational loan was framed with the query from the Government of India with the India Reserve Bank and the Indian Bankers Association. This system may apply for a loan of up to 7.5 lakh in India and 15 Lakhs for studies abroad. These numbers are not stable in nature for banks. State Bank of India is using a ceiling 20 lakhs and in recent days. Indian Bank updated the maximum limit of 15 lakh for education in India and 25 Lakhs for studies abroad. All details below will change later and students are invited to get proper information of the banks concerned.
The admissibility processing rate security
The interest rate on delivery of loan documents
Certificate of reimbursement capacity margin of holiday
Eligibility
The eligibility criteria of the Bank for a loan from any bank education India:-
The student should have obtained admission to courses/professional technicians through the process of selection of test input
The student must have secured admission to universities and foreign institutions
Take a look at other important points of view that comprehensive educational loans:-
Documents
Must keep these documents in place before you apply for an educational loan:
Mark leaves the last preliminary examinations and the school of specialisation in India.
Proof of admission to the course.
Programming for the course.
Copies of the letter confirming the stock market.
Allow copies of the coin, if applicable.
Two passport size photos.
Bank statement for last six months the debtor.
Taxable income of not more than two years.
Short declarations of assets and liabilities of the debtor.
If you are a database client must prove identity and give proof of residency.
The Margin
Where the cost of the course is up to 4 lakh, which is equal to zero for both studies in India and abroad. Where the cost of the course is more than 4%, 5 lakhs for studies of indoor and 15% for studies abroad.
Safety
Banks have the following guarantees of safety and security requirements for the granting of student loans. However, requirements vary from the Bank.