The importance of online education is increasing day by day, similarly the cost of education is also increasing. Most of the children do not know that they can take a loan from the bank to continue their studies, if you are also able to study in your favorite university or institute due to financial difficulties then this article is just for you (How to Take Education Loan).
If you want to take education loan in 2022 and you have absolutely no idea how to get education loan or how to take education loan, then do not worry at all, through this article we will tell how to take loan from bank. For which course loan can be availed, how much interest will be charged, for how much time loan can be taken, how much loan amount can be availed. Apart from this, important information related to education loan will be given.
How to Take Education Loan?
Education loans can be taken through banks, finance companies, online lending platforms. If you use finance company or online platform for education loan, then the interest rate is high in taking loan here and loan amount is also less, if we believe then you should take education loan from banks because the interest rate here The cost is less and the loan amount is also more according to the course, apart from this the time period for depositing the loan is also given.
Nowadays some digital platforms give education loan for online coaching, computer course, if you want to pursue education in any university or university, then taking loan from bank will be very beneficial because here the risk is very less. Apart from this, taking a loan from elsewhere increases the risk.
How to Get Education Loan?
Taking education loan has become much simpler than before, nowadays some banks provide facility to apply for education loan online. Where you can get an education loan sitting at home by submitting your documents.
Some banks come forward in terms of giving education loan from where you can get education loan:
| 1. | HDFC Bank Education Loan |
| 2. | Axis Bank Education Loan |
| 3. | State Bank of India Education Loan |
| 4. | Punjab National Bank Education Loan |
| 5. | ICICI Bank Education Loan |
| 6. | Union Bank of India Education Loan |
| 7. | South Indian Bank Education Loan |
| 8. | Bank of Baroda Education Loan |
| 9. | IDBI Bank Education Loan |
| 10 | Canara Bank Education Loan |
Note: You can apply for the loan by visiting any of the above mentioned bank branch or you will also be able to apply for education loan through online official website.
For Which Courses Loan Can be Obtained?
- You can take loan for full time, part time vocational courses.
- You can take loan for engineering course.
- You can take a loan for hotel management course.
- You can take a loan for the course in the medical field.
- Loan can be taken for diploma / degree course.
- You can take loan for architecture course.
- You can take a loan for business management or management course.
Note: Apart from this, education loan can also be availed for many technical and non-technical courses.
Education Loan Details:
| Loan Name | Education Loan |
| Age for taking education loan | Between 16 to 35 years |
| Documents required for education loan | Aadhar Card, PAN Card, Income Proof, Address Proof etc. |
| Timings for depositing education loan | 5 months to 7 years |
| How much get will education loan? | ₹ 10000 to 10 lakh rupees |
| How to apply for education loan | Online Mode / Offline Mode |
Here we have given information about education loan in the table below which is as follows:
1. Loan Amount: A loan of Rs.10 lakh can be taken in India.
An education loan of Rs.2000000 can be taken to study abroad.
2. Loan Tenure: MI starts after 6 months after completing education loan where 5 to 7 years time is given to deposit the loan.
3. Interest Rate: Usually the interest rate is different on different banks, to know the interest rate, you can check the official website of the platform from which you want to take a loan or you can get information from your nearest branch.
If you want to know what is education loan, and how to apply for education loan online, then you can read this article of ours for this.
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Conclusion
I hope by reading this article, you must have come to know one thing that how to get education loan, and with the help of above mentioned banks, you can get loan amount in easy process. If you liked this article, then share it so that this information can reach more people so that students who want to complete their education by taking a loan, then after reading this article they will get an idea, how to complete studies by taking loan.
