Education Loans
           Starting Studying Post-Graduate Programmes the main problem that comes in mind is that,How will I manage to pay the total amount of expenses of the programme.Even at this stage asking money from parents becomes difficult, but now there is solution to every problem. You can now apply for education loan to study not only in abroad but also in India itself. there are only some formalities to be done.
            Loans can be availed from Banks and also from some trusts. For studying abroad you can get a loan of about 15 Lakhs and for studying in India you can get loan of between 4 to 7.5 Lakhs .
 
Documents requried for Education loan
  • Loan application in bank's format
  • Passport size photos
  • Address proof
  • Age proof
  • Copies  of marks sheets in the qualifying exams
  • Letter of admission in the course
  • Prospectus of the course where the course fee is mentioned
  • Co-borrowers income tax assesment order of last two years
  • Co-borrowers proof of income(salary slip)

 

The student must be:

  •  An Indian by nationality
  • Should have a good academic record
  • Should have documentary proof of having securing admission to the course through an entrance test or selection process

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Education Loan Options for MBA in India

 

 BankMax. Loan AmountInterest RateMarginRepaymentProcessing fee
State Bank Of India Scholar SchemeRs 7.5 Lakhs 9.25% & 9.75% 

upto Rs.4lakh:nil

> Rs.4lakh: 5%  

upto 7yrs Nil 
State Bank Of India Non-Scholar SchemeRs. 10 Lakhs 

upto 4Lakh:10.75%

> 4Lakh:11.75% 

upto 4Lakhs:Nil

>4Lakhs:5% 

 upto 5 to10yrs

Nil 

Oriental Bank Of CommerceRs.7.5 lakh 10% 

upto 4lakh:nil

> 4lakh: 5% 

 84 monthsNil 
Allahbad BankRs 7.5 Lakh 

For iit's & iim's:8%,

others: 10% 

upto 4lakh:Nil

> 4lakh: 5% 

84 months Nil 
Bank Of BarodaRs.7.5 lakh 

upto 4lakh:10.5%

> 4lakh: 11.5% 

upto 4lakh:Nil

> 4lakh:5% 

5yrs Nil 
Canara BankRs.7.5 lakh 9.50% 

upto 4lakh:Nil

> 4lakh:5% 

5 to 7yrs Nil 
HSBC Secured LoanRs.25 Lakh 10.50% NA 84 months 1% 
HSBC Unsecured LoanRs. 7.5 Lakhs 12.25 - 13% NA 48 months 1% 

 

 There are some more Banks which give Educational Loans you may check them

Allahabad Bank

Andhra Bank

Bank Of Rajasthan

Bank Of India 

State Bank Of Hyderabad 

State Bank Of Patiala

Central Bank Of India

Dena Bank

IDBI Bank

Canara Bank

ICICI Bank

Oriental Bank Of Commerce

Punjab National Bank