Can I get an education loan for B.Tech? What are the requirements?

Yes, nowadays, taking a loan from banks is quite easier as compared to previous time. Also if you have strong determination to study then there are many doors open for you. No financial issue can stop you from achieving your dream. Now loan depends on the type of college you are taking admissions into. If you are taking admission in a government college, there are several government banks which will provide you with your college fee at a very less or no interest rates. Central government funded institutions are nowadays providing a lot of convenience to financially week classes and promoting education. Now if you choose to go to a private college, then many private colleges are linked with banks and they provide easy loans on the receipt of the respective college. If none of the above factors worked then there are still many loan policy of banks through which money can be issued. Documents required are: address proof, income certificate, date of birth proof, residential proof, college letter and fee statement, guardians signature and mark sheet of school. Hope it would be helpful.

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Yes, anyone can get an education loan for B.Tech. I advise you to take the loan from a reputed bank. Your bank starts charging you interest on your education loan, from the time of disbursement of the loan. Checklist to apply for an education loan: Your nationality should be Indian to avail an education loan in India. Age should be minimum 18. Banks may have their limit in ages of 35 years and no educational loan is given if you are above this age. You must have secured admission in the B.Tech course in a college recognised by the bank you applied for loan. You have to fill the loan application form and submit an address proof, mark sheets, admission letter for the admission. For education loans above INR 4 Lakhs, banks accept FDs, life insurance plans, real estate as collateral. Some banks do not take collateral if the loan amount is less than INR 7.5 Lacs. Banks have a tie up with educational institutions and if you get an admission in any of the institutions your loan can be sanctioned within 20-30 days.

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Absolutely, you are eligible for education loan after meeting banks certain requirements which are as follows. ;-You must enroll in an AICTE/MHRD approved Institute :-A Full time Degree is necessary :-You must be citizen of India ;-The student must be enrolled in Job oriented Prof6 degree, whether technical or non-technical :-Must be enrolled through all India Exam like -IIT, JEE and State Conducting exam for admission :-Banks provide loans up to 30 lakh to study all around the world He/she must be having able to produce all the necessary documents required by the bank:- -application form -Letter of admission -Letter from the institute for grant of loan -Two passport size photo -Income proof -Guarantee -Id proof -Collaborations borrower bank detail Please note that: - If students want to take loan upto 4 lakh then there is oy security as Parent/Guardian as Co-Borrower Bank account. -if the loan is above the value of 7.5 lakh then the student have to produce the Tangible collateral security with parents Guardian as Co borrower also. The repayment period is usually for 4 lakh to 7 lakh is 10 year after the completion of Course. And above 7.5 lakh is upto 20 years. Interest rate varies from bank to bank but generally is around:-13.50% for 4 lakh -13.75% for 4 lakh to 7.5 lakh -11.75% for above 7.5 lakh Note that these are the requirements of SBI STATE BANK OF INDIA. Other banks have other requirements but overall all are same.

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