A range of benefits on Education loan from Loan-Wala, irrespective of your loan amount or type of Education loan.
A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and all kind of expenses.
The student applying for the education loan must be a resident of India. He/she must have confirmed admission in recognised educational institutes in India or abroad. The age of the candidate must fall within the bracket of 18 to 35 years during education loan application.
|Age||Minimum- 18-35 years|
|Academic record||Proven- good|
|Qualification||Pursuing graduate/postgraduate degree or a PG diploma.|
|University Applied to||Recognised – In India/Abroad|
|Security||Tangible collateral or guarantor- depending on the loan amount and income source.|
A education loan is the good way to pursue higher education without getting your finances disturbed. You can take education loan for courses in India or abroad. For unemployed students, their guardian or parents need to be guarantors.
The Equated Monthly Installment consists of the principal portion of the loan amount and the interest.
Since education loan terms differ from one to another, required documents remain largely the same.
|Loan Documents||Academic Documents||Income documents|
|Completed and signed loan application form||Admission letter/Offer letter/CAS||Last three months' salary slip|
|Two passport sized photographs||Fee details and break up||Income tax return for the last two years|
|Photo ID proof||Score reports of IELTS/TOEFL/GMAT/GRE||--|
|Residence Proof||Copy of student visa (if applicable)||--|
|Income Documents||Mark sheets of the tenth and twelfth board examinations||--|
|Mark sheets of an undergraduate degree or any diploma/certificate||Educational Qualifications Certificate and Proof of Business|
|Bank of Baroda||8.50% onwards|
|Kotak Mahindra Bank||11.5% to 24%|
|Punjab National Bank||10.30% onwards|
|State Bank of India||10.25%|
If you are looking for an Education Loan for yourself or your ward, you have come to the right place. Loan-Wala provides Education Loans for students looking to pursue higher education in India or abroad, at attractive interest rates.
Education, is a must for a complete and successful life. For many, it is equivalent to graduating from a top institute. The cost of education is, however, increasing day by day. In fact, the cost of studying at reputed institutions is already quite high.
But despite all this , one may still encounter shortage of funds. An education loan, therefore, plays a vital role in such a scenario by helping to bridge the gap between the shortfall and the required amount.
According to studies, the cost of education is increasing at an average of 15% per annum. The tentative cost of an MBA is up from Rs 3 lakh to Rs 25 lakh in 15 years. So if a couple starts saving Rs 2,000 per month for 15 years, at an average rate of 12%, they will be able to save approximately Rs 10 lakh.
We have associated with given bank list we also working other bank also