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Management students are among the top choicesfor most of the banks. Technology students from the country's premierinstitutions,Medical and engineeringcollege students can also get student loans from the banks.
Banks don’t provide loans for students with abachelor's/master's in Arts . and also, for the courses where employment prospects areless (as per Bank’s own evaluation), loans are sanctioned on the basis ofthe parents' income.
Loan for Studies in
India Most of the Public Sector Banks in
India have categorized StudentLoans in two categories. For Studies in
India , Students can borrow up toRs 4 lakh without providing any security or margin. A loan amount of Rs 4 lakhs to Rs 7.5 lakhs can be availed against a third-party guarantee. This loan comes with a five percent margin money.
Ideally, take a loan from a bank located in your place ofstudy than one located where you reside, unless it concerns overseasstudies. This is because you will have better access to funds if you takea loan from the place of your study. Secondly, Make sure the repaymentperiod starts only after six to twelve months after you begin your workinglife. And thirdly, Banks typically prefer to finance students who opt fortraditional courses.
Educational Loans in India
Studentspursuing Higher Education don’t have to struggle hard anymore to finance their studies as now many Banks in
India are providing studentloans. Not only loans, private foreign banks also seem to be interested infunding students, enthusiastic enough to announce scholarships for bright anddeserving students.
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With expensive professional education becoming mandatory for people across the country, a student loan seems to bethe most effective way to tide over these expenses. Most students expect toland in high salary at the end of their professional training and are likely tobe in a position to repay these loans over a period of time.
Educational Loans
