You can take a loan from a bank or NBFC for professional education in any institution in the country or abroad.
According to the progress in the career and getting better jobs, the demand for professional education is increasing now. If you also want to study in a good institute for higher education and are feeling the problem of money then you can complete your education with the help of education loan.
Education loan is now available very easily. You can take a loan from a bank or NBFC for professional education in any institution in the country or abroad.
After completing the loan, you can return the education loan amount to the bank or NBFC in easy monthly installment during the job. Let us know five smart things about education loan:
1. Any Indian citizen can take an education loan if his / her admission in any professional or technical course in any institution in the country or abroad is confirmed in the process done on merit basis. Ho.
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2. According to the rules of Indian Bank Association, banks provide loans up to Rs 10 lakh for studying in the country’s colleges and up to Rs 20 lakh for studying abroad.
3. An applicant is necessary for an education loan and the borrower can have parents, spouse or siblings.
4. If the loan amount is up to four lakh rupees, then no security is required to take a loan.More than this, personal guarantee of the person is needed for the loan, which the lender bank considers worthy according to the income and ability to repay the loan. For education loans above 7.5 lakh rupees, mortgage worth property is necessary. It can contain houses, ornaments etc.
5. The process of repaying the loan starts six months or one year after the completion of the course. Initially, only interest is to be paid in it.
(Courtesy of Center for Investment Education and Learning)
