Can I take education loan from two banks?
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Can I take education loan from two banks?
No, it is not possible to get an education loan from two different banks to study for the same course in India. There are many banks that provide a large loan amount for domestic education. For example, ICICI Bank offers up to Rs. 50 lakhs for education within India.
How much loan can I get from SBI for education?
SBI Education Loan Interest Rates
| Schemes | Maximum Loan Amount | Interest Rates |
|---|---|---|
| SBI Scholar Loan | Rs.40 lakh | 6.85\% to 8.15\% |
| SBI Global ED-Vantage | Rs.1.5 crore | 8.15\% to 8.65\% |
| SBI Skill Loan | Rs.1.5 lakh | 8.15\% |
| SBI Take Over of Education Loan | Rs.1.5 crore | 8.15\% to 8.65\% |
What are the requirements for education loan?
Documents required for an Educational Loan:
- Duly-filled application form.
- 2 passport size photographs.
- Graduation, Secondary School Certificate, or High School Certificate or mark sheets.
- KYC documents that include ID, address, and age proof.
- Signature Proof.
- Income Proof of parents or guardian.
Can students get loans after 12th?
The age of the candidate must fall within the bracket of 18 to 35 years during loan application. He/she must be undergoing a graduate/postgraduate degree or a PG diploma. The applicant should have a secured admission in a college or university affiliated by UGC/AICTE/Govt.
What is the interest rate for education loan in India?
Education Loan Interest Rates in India. Each bank has its own rate of interest based on the particulars of the applicant as well as the loan amount. The final rate of interest fixed by the banks is the total of the base rate and the loan mark up. Generally, the base rates of banks fall within the bracket of 8\% to 10\%.
What is the SBI education loan for study in Canada?
SBI education loan for study in Canada is offered for an amount of up to 30 lakhs with a loan margin of 15\%. The interest rate charged for students is 2\% on the current base rate of SBI. The SBI education loan for Canada can be repaid in the duration of 1-15 years.
What is the EMI of SBI education loan of 10 lakh?
· The EMI that you can avail with SBI Education Loan of 10 Lakh is 10,024 with 15-years tenure. The EMI increases when you opt for tenure of 5 years. · The EMI for a loan of 15 Lakh is higher – 30,992, when you opt for 5-years. It decreases to 15,036 if you opt for tenure of 15 years.
What are the special concessions offered by SBI for education loans?
SBI provides special concessions pertaining to the interest rates of two types of education loans. The bank allows 0.50\% additional concession in interest for female students and 0.50\% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favour of SBI for releasing the Global Ed-Vantage and Student Loans.