All about overseas education loan?

Asked by Aman Choudhary about 1 year ago

Answers 1
Avani Oswal

Avani Oswal

4th year undergrad student

Here is a list of banks offering cheapest loans for studying abroad

Axis Bank:

Interest Rate        13.70% p.a. onwards

Maximum Loan Amount        Rs.20 lakh

Maximum Tenure        15 years

Processing Fees        At the discretion of the bank


Bank of Baroda:

Interest Rate        Up to 9.85% p.a.

Maximum Loan Amount        Rs.80 lakh

Maximum Tenure        15 years

Processing Fees        Nil


Canara Bank:

Interest Rate        Up to ongoing one-year MCLR+1.50 %

Maximum Loan Amount        As per eligibility

Maximum Tenure        15 years

Processing Fees        Nil


Federal Bank:

Interest Rate        Up to 10.05% p.a.

Maximum Loan Amount        Rs.20 lakh

Maximum Tenure        15 years

Processing Fees        Nil


HDFC Bank

Interest Rate        9.55% p.a. onwards

Maximum Loan Amount        Rs.30 lakh

Maximum Tenure        15 years including moratorium period

Processing Fees        Maximum of 1% of the loan amount or minimum of Rs.1,000 whichever is higher


State Bank of India (SBI):

Interest Rate        8.65% p.a. onwards

Maximum Loan Amount        Rs.1.5 crore

Maximum Tenure        15 years

Processing Fees        Rs.10,000

 

Documents Required to avail an education loan


Liabilities and assets of all the borrowers.

Proof of identity.

Proof of address.

Income Tax Returns that are less than 2 years old.

Passport-size photographs (two).

Foreign exchange permit.

Letter that confirms the scholarship.

Course expenses.

Admission proof.

Relevant mark sheets.


You should get in touch with Study Abroad Experts here. They have been assisting students for scholarships, loans and visa for FREE for a long time now. I’m sure getting in touch with them will help you save a lot of time and hassle. 

 


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