1. #1
    HIMANSHU PANDEY is offline Junior Member
    Join Date
    Jun 2013
    MAU , UP , INDIA

    How to get education loan and its procedure?

    How to get educatiön loan and procedure ?
    I am quite weak economicaly and want to join b.tech.....

  2. #2
    PERTHC is offline Senior Member
    Join Date
    Jan 2013

    Re: How to get education loan and its procedure?


    Every bank gives Education Loan for higher studies including Graduates i.e., B tech.

    Different banks have different rules,but most have the same goal.

    Rules for Educational Loan(as per UBI [United Bank Of India])

    --Interest Rates--

    United Education Loan Scheme (Floating Rate)

    Quantum of Loan

    Up to 4.00 lac BR +2.00% i.e. 12.45% p.a.

    Above Rs. 4.00 lac BR + 2.75% i.e. 13.20% p.a.

    --Quantum of Loan--

    For study in India : Max. Rs. 10 lac
    For study abroad : Max. Rs. 20 lac

    --Other Rules--

    Expenses covered by the Loan-->

    Fees payable to College/ School/ Hostel.

    Examination/ Library/ Laboratory Fee.

    Purchase of Books/ Equipments/ Instruments/ Uniforms.

    Caution Deposit/ Building Fund/ Refundable Deposit supported by Institution Bills/ Receipts.

    Travel Expenses/ Passage Money for studies abroad.

    Purchase of Computers -- Essential for completion of the Course.

    Any other expenses required to complete the Course like study tours, project work, thesis, etc.

    --Repayment of Loan--

    For loans upto Rs.7.5 lakhs- not exceeding 10 years.

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