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Can I get another education loan if I have already have one?

Can I get another education loan if I have already have one?

Well, the answer to the above question is – Yes, a student can be eligible for a second education loan. For this, they can either apply for a second education loan from the bank they already have taken their first loan from or they can apply to a different bank.

How much loan I can get for MS?

The total loan amount depends on the type of the loan you are applying for. In secured loans, you can get up to INR 1.5 cr depending on the collateral value. In unsecured loans, you can get up to INR 40 Lakhs (even more) depending on the co-applicant’s income, target college, target course, etc.

How much education loan can I get for MS in Germany?

Different Options of Education Loan for Germany

Features Public Banks NBFCs
Loan Amount (INR) Upto 1.5 crore Upto 50 lakhs
Interest Rate Range 8.85\%-10.25\% 12\%-14\%
Processing Fees (INR) INR 11800 + Property Evaluation Charges 1-2\% of the loan amount
Payment During Study Period No Simple Interest
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Can a student take two education loan?

The simple answer is yes. Two Student Loans can be taken from different banks at a time but generally, this method only increases our monthly EMI burden. Both the banks should be well aware of the other loan taken.

Can we take loan for blocked account in Germany?

Most students who opt for an education loan for MS in Germany, need to open a Blocked Account and deposit the required funds even before they apply for a visa. A majority of Indian students mostly tend to borrow secured loans from government banks and PSUs to fund their higher studies in Germany.

Can I take home loan and education loan?

Aspirants can apply at both private and nationalized banks to avail secured education loan on a home loan property. Hence, they divert for unsecured education loan and end up paying a higher rate of interest to the bank.