Monday, September 21, 2020

Education loan online calculator

 Education  loan online calculator

Main topic

If you are promising then there will be no lack of money for higher education.  Nowadays all the big banks are providing education loans on easy terms.  Through this you can give wings to your dream.

 You have to start the loan installment one year after finishing the course or six months after getting the job.  You will have to repay this loan in 15 years.

The Pradhan Mantri Vidya Lakshmi program helps in providing online education loans to s

tudents pursuing higher education as a single window.  Scholarships can also be applied through this website.  The details of the loan scheme of most banks are available on this website.

Click here online education loan calculator

SBI Bank online calculator

 If you apply for education loan through Vidya Lakshmi portal, then you will need to register on this portal

How to apply online?

 In this portal, the same name has to be filled which is recorded in your high school marksheet.

 Must enter the correct mobile number.  Students can also give the mobile number of their parents or parents

 The correct email ID will also have to be entered in the portal

 Email ID cannot be changed again

 All types of information will be sent to you through this email

 Apart from this, you can also apply for education loan through  This website also works like a single window in getting education loan.  There is no need to fill separate forms for banks by applying here.

 How much loan?

 If you apply for an education loan to get higher education in the country, then the bank gives you a loan of up to 10 lakh rupees.  Whereas if your admission has been done in a good institution abroad, then you can get a loan of up to 20 lakh rupees.

 Along with the fees, you can take loans for buying books, hostel fees, examination fees and library fees.  If you want to take a loan of up to four lakh rupees then you do not need to raise any kind of money from you.

 Also read: Are banks better or NBFC for taking education loan?

 If the loan amount is more than four lakh rupees, then five percent of the total loan will have to be deposited as margin money.

 At the same time, 15 percent of the money will have to be deposited for studying abroad.  Margin money is the amount that a student has to pay as a down payment himself.

Are these important documents?

 Bank of Baroda (Bob) Chief Manager KK Mathur says that to apply for an education loan, ID proof, photograph, residency proof, parent's income proof, high school and intermediate marksheet will have to be installed.

 Apart from this, proof of the admission letter and duration of the course in the institution you are going to study will have to be submitted.  Banks offer bank loans only to students between the age of 16 and 35 years.

 Instant loan for reputed educational institute

 If the student is an Indian citizen for education loan and has obtained admission in any higher education institution outside India or India, then he gets loan easily.

 It is easy to take loans for higher education in a reputed university.  State Bank of India (SBI) senior manager SK Bharti says that banks ensure the recovery of any loan before giving it.

 That is why loans are given only to such people, who have the ability to repay it.  The education loan can be paid by the parents of the student or the student can also pay it after completing his studies.

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