How to take Education Loan?

Today many students have a question that how to take education loan, Because this is such a loan which is needed by almost every student whose family financial condition is not good.

Because when the student pass 12th If he takes it, he often has to face a lot of problem to complete further studies.

Because after 12th, when the student goes for admission in any university, college for any degree, then a lot of money is required to complete those courses.

Which is not available to every student. Due to which he becomes unable to continue his further studies, if you are also in this situation then you do not need to worry now.

Yes, if you are very good in studies and want to take your life towards success by reading and writing, then education loan is a very good option for your education.

About which today we are going to know in detail through this article, such as what is education loan and how to take it?

What should be the qualification for this, many other such information which is directly related to the loan taken for studies, all of them have been covered in this article.

What is Education Loan – What is Education Loan in Hindi?

The government is continuously doing various types of work for the education of the students, such as the government has kept the facility of scholarship for the student’s studies till 12th.

Meaning that any student can easily do his 12th studies because the government provides some financial assistance for every student in the form of scholarship till 12th, due to which the student’s fees etc. expenses are easily removed.

But now every student wants to go ahead after 12th, but many students belong to a family whose financial condition is not very good.

Meaning that he does not have enough income so that apart from taking care of his family, he can send his child to college or abroad for higher education.

Now to deal with this problem, the government has started a scheme to provide education loan for the student, which is known as education loan.

That is, those students who want to study further, they want to go abroad and do their studies, they will be provided financial assistance from the government for their studies.

To take this, the government has also prescribed some qualifications, necessary documents etc., whose complete information you are going to get in today’s article.

How to take education loan?

It is often seen that students are not able to do their further studies due to lack of money, but now the government has started the facility of education loan, understanding this problem.

Yes, it means that now any student can take education loan to continue his studies.

But now only a few people know about how to take education loan, otherwise many students are unaware about this process.

Perhaps if you are reading this post, then you will also be unaware of this important information and will be going to know about it, if yes then you are reading the right article.

Because today you are going to get all the information related to education loan in this article. For more information, read this article of ours carefully till the end:

Eligibility for taking education loan?

  • This loan can be taken only by the urban youth student of India.
  • Only students studying in a university will be given this loan.
  • The age of the applying student should be between 18 years to 30 years.
  • If the student does not already have any loan, then only he can take advantage of this scheme.

Documents for Education Loan

  • It is mandatory for the student to have a passing mark sheet.
  • It is necessary to have the certificate obtained from the university, college.
  • Fee slip paid in University/college will be mandatory.
  • The student applying should have his/her Aadhar card.
  • income certificate
  • passport photo

Education loan amount

After completing 12th, when students go to a university or college for a course degree, a lot of money is required to do those degrees.

Which becomes very difficult for the child of an ordinary family.

But every student has a dream of his own to do a course that can make his dreams come true.

In India today, different types of courses, degrees exist in every university/college, whose fees have been fixed differently.

Now because there are different fees for each course, if a student wants to do his studies abroad, then for all these the amount given on government loan which is kept separately which is as follows:

Education loan amount given for studies in India,

If a student wants to go abroad and study in his own country, then the government will provide a maximum financial assistance of 10 lakhs in the form of loan to complete his studies.

Education loan amount given for studies abroad,

There are many such students who want to go abroad for their higher education and do their studies, then the government has arranged for such students to give a maximum financial amount of 20 lakhs in the form of loan.

For which courses education loan is available,

After passing 12th, the student can apply for this education loan for any course by visiting his nearest bank.

For which courses the bank provides education loan to the students, it is the following:

Types of Education Loan

In India, mainly 3 types of loans are given for the student for his higher education, about which you can know in detail below:

Undergraduate Education Loan

This is a loan that is given to the student after passing 12th, the amount received in the undergraduate loan is given to the students for their further 3 or 4 years of education.

graduation education loan

Students can take this loan after completing their graduation.

Meaning that there are many such students who want to continue their higher education even after completing their graduation, then they can apply for student graduation education loan in the bank.

career education loan

Such students who want to study in any technical school, university in India according to their interest, then they can take education loan.

Interest rates offered on education loan

Loan for studies is a very good facility given by the government for any student. But today the question arises in the mind of every student that if he takes an education loan, then what will be his interest rate?

So now let us also clear your question that if you take a loan for your education, then you will not have to pay any interest for it.

Yes and the best thing about this scheme is that as long as the student is pursuing his studies, there will be no interest rate on the amount given under this loan.

Which is a good thing for any student.

But as soon as you have taken an education loan for your studies, after the completion of your studies, you will have to pay the interest rate which will be determined by the bank.

Meaning that after completing your studies, an installment will be made for you by the bank from which you have taken the loan, which you will have to deposit with interest rate every month.

Benefits of Education Loan

After knowing all this about this loan, you would have almost understood to a great extent. There are many other benefits of this loan as well, about which we have discussed it below, so let’s know:

  • The biggest advantage of this loan is that if you take this loan, then interest will have to be paid only after the completion of your education for which you have taken the loan for education, before that no interest rate amount will be added.
  • Till now, if you do any course, then almost all the fees have to be deposited together which is very difficult. But now if you take this education loan, then you will find it easy to a great extent.
  • Now money will not become a problem for any student to study because now students can do the most expensive courses by taking education loan and fulfill their dreams.

How to take education loan?

The most important question is how to take an education loan, friends, it is quite easy, just people do not have much information about it, due to which they are not able to get this loan.

But let us tell you that it is easiest to take this loan, for this, you just have to take your necessary documents which have been mentioned above to whatever bank is near you.

There you have to take the form related to education loan from the branch manager and submit all the information asked in it to the bank.

Just again. After a few days of verifying your documents, you will get the amount related to education loan and all other information related to this loan will be sent to you on your mobile number.

After this, you can go to the bank again and get information about it, just then you will get the education loan and then you can continue your further studies.

Which banks get education loan from?

There are many bank branches in India from where you can get this loan, if you want, you can also apply online for this loan by visiting the official website of the bank.

The rest of the list from which bank you can take this loan is given below, you must see it once.

  • Allahabad Bank
  • bank of india
  • Canara Bank
  • central bank
  • Jammu Kashmir Bank
  • Punjab Bank
  • State Bank Of India
  • HDFC bank
  • Axis Bank

Conclusion

The education loan scheme started by the government for the students of India is a very good scheme, due to which now such students are unable to do their higher studies due to money. But he can easily take education loan and study anywhere in the country and abroad.

The good thing about this loan is that if any student does his studies on this loan, then he soon starts to understand his responsibilities.

Meaning that the amount taken through this loan becomes the responsibility of the student to repay after the completion of his studies, due to which he gets engaged in trying for a job due to repayment of the student loan, which he becomes self-reliant.

the rest today we’re up to you How to take education loan and its benefits All the information related to this loan has already been told above, which is very important for any student.

Hope you liked the given information and found it useful for you.

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