Education Loan for students, Banks offering Educational Loans India

EDUCATION LOAN - Student Loan Schemes offered by Banks in India - Educational Loans for Students - Educational Loans for Students Student Loans, Higher Education Loans, Loan for Study Abroad. Educational Loan, Banks

Education Loans for Students 

Congratulations ! You finally got into a professional college. After months of waiting, months of Preperation for your Entrance Tests and general anxiety, you got through. Now that you have got admission into a Professional Course all you have to do is figure out how to pay for it. If you’re like most people, the idea of paying for Professional college Education out-of-pocket isn’t even close to reality. The cost of education rises every year – much faster, most likely, than money accumulates in your bank account. Today, hefty student loans are an unfortunate fact of life.

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However, you need not worry. There are lots of Student Loan Options and Student Loan Schemes being offered by various Banks and Institutions. Here are a few Student Loan Resourses which may be of help to you. We have Listed down the Banks offering Student Loans, Various Student Loan Schemes being offered by them, Eligibility for Student Loan, Documentation required for applying for a Student Loan and related information. This Service is being offered free.

Education loan portfolio of banks, which saw a growth of about 30-40 per cent in 2007-08, is set to witness a growth of about 40 per cent in 2008-09, according to senior bank officials.

Bankers attribute the healthy growth in the portfolio to the ever-increasing demand among the younger generation and the lower number of non-performing assets.

Banks have adopted various schemes to facilitate the growth of the education loan portfolio. Apart from tying up with several institutes and offering interest rate discounts, they also accord online sanctions and ensure speedy disbursal of the loan.

State Bank of India, a major player in this field, recorded a growth of 35 per cent in educational loans and grew by Rs 1,000 crore in 2007-08, Mr P. Nandakumaran, Chief General Manager, Personal Banking, SBI, said. “We plan to sustain the growth at 35 per cent this year,” he said.

Andhra Bank has set a target to grow by 20-25 per cent this year. The current exposure is at Rs 1,800 crore. “We have tied up with a number of universities such as ICFAI, IIBM and some universities in Pune. We offer some discount on interest rate for students in these universities,” said a senior bank official.

Education Loans in India - Frequently Asked Questions

Students perusing Higher Education don’t have to struggle hard anymore to finance their Studies as now many Banks in India have are providing student loans. Check out FAQs on Education Loans in India

Education Loans For Studies in India

Check out the link for detailed information on banks providing Education Loans in India to students for Higher Education. Have a look at name of the banks providing student Loan in India

Student Loans for Studies Abroad

Click here for detailed information on banks providing Education Loans to students for higher education abroad. Have a look at name of the banks providing student Loan in for pursuing education abroad.

Study Loans without collaterals coming soon 

The government is coming up with a scheme for students to facilitate study loans from banks without depositing any security. Check out the page for more information on study loans without collateral…

Eligibility for getting A Education Loan

Mentioned in the page are the number banks offering education loan to students in India. You can check out each bank’s eligibility criteria for offering student loans as different banks will have separate criteria

Student Loan Application Documents

Though every Bank has its own requirements for the Documents to be submitted with a Student loan Application Form, we have listed for the set of documents that most Banks will ask for…

Public Sector Banks to offer Insurance linked Education Loans

 Public sector banks will soon start offering insurance-linked education loans. The insurance premium will be a part of the expenses for the loan. Check out link for detailed information on the same

HC reminds banks to abide by Educational Loan Policy

Taking a tough stand on a nationalized bank’s denial to grant loan to an engineering aspirant, the Madras HC asked all banks to strictly adhere to the national educational loan policy. Read more…

SBI introduces credit cards along with education loans

State Bank of India (SBI) has come up with the scheme of offering credit cards along with education loans. Check out more information on the scheme being offered by SBI for student loans

RBI Governor raises questions on the issue of easy credit for education abroad

The RBI Governor has said that banks are actually subsiding education loans for foreign studies under the priority sector lending (PSL) segment. Read more for info on education loans for education abroad

 

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Student Loans in India

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