Need details on Education loan

I am planning to do MBA abroad, which is going to cost me around 35-40 Lakh INR. What are the basic requirements that a bank will ask for such education loans. Is it true that the maximum amount of loans given by Indian banks is just 20 Lakh INR?. Please help

0 71 Views | Posted 2011-09-05 02:25:09
Asked by Gautam

  • 2 Answers

  • Shiksha Ask & Answer

    Answered by

    shaban | Guide-Level 11

    2011-11-01 14:44:40
    Now a days almost all the banks offer education loan to students, to pursue their education in India or Abroad.
    The banks offer maximum loan of Rs 10 Lac for education in India and Rs 20 Lac for education abroad.
    The repayment period vary from 5-7 years.
    The bank do not ask for any collateral security up to the amount of Rs4 lac, but if the amount exceeds Rs 4 lac then the bank will ask for collateral security.
    The repayment of the loan amount starts after 6 months of completion of course or after 6 months of getting job, which ever is earlier.
    I hope this answers your query.
    If you like this answers, than please mark it as a Thumbs Up
  • Shiksha Ask & Answer

    Answered by

    arun dev | Guide-Level 11

    2011-09-05 08:46:48
    pls check following link for loan details of various in depth. hope it ll clear ur quarries
    all da very best

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