Indian Recruitment Agency House of overseas education
Education LoansBank Loans are easily available for higher studies anywhere in the world. Loans should be preferably taken
from a Nationalized Bank. The term & condition for educational loans may vary from Bank to Bank.
ELIGIBILITY (Depends on the bank)All Professional/Technical job oriented courses offered by reputed Universities.
LOAN AMOUNT (Depends on the bank)Maximum Rs.15 Lakhs.
Margin : 15%
SECURITY (Depends on the bank)For Loans upto Rs.4 Lakhs, no collateral security is required. For Loans above Rs.4 Lakhs,
collateral security is required.
REPAYMENT (Depends on the bank)Course period + one year or 6 months after getting a job, whichever is earlier.
The loan is to be repaid in 5-7 years A
after commencement of repayment.
RATE OF INTEREST (Depends on the bank)Upto Rs. 4 Lakhs-PLR Above Rs. 4 Lakhs-PLR + 1%
DOCUMENTS REQUIRED (Depends on the bank)
- Loan application
- Photograph, Residence proof of borrower and guarantor
- Covering letter stating sources of owned funds
- Fee receipts or proof of payments made
- Title Deeds of the ownership property to be mortgaged as security
- Copy of passport & Visa, if student is going abroad for higher education
and related documents
- Income proof of the applicant in the form of last 3 months salary slip/Certificate
or copy of the last 3 years IT returns filed with computation details of personal assets & liabilities.
- Two guarantors with their latest salary Slip / certificate in case guarantor belongs to service class or latest
income tax returns filed with the computation of income in case the guarantor is a businessman, professional or self-employed.