A person chooses student loan to fund expenses related to studies either in India or abroad. At loanbaba, we offer study loan for both these purpose. We have small education loan that can be received the same day of loan application approval. The amount is up to a lakh of rupees. The individual can even apply for higher studies loan abroad for which, he/she can avail flexible amount of funds. Apart from charges/ fees payable to the educational institution, expenses covered by such loans are listed below:
Purchase of laptop or computer if it is mandated by the institute or is necessary for completion of the course. Additional costs pertaining to course completion, including and not limited to thesis work, study tours and projects. Caution deposit, building fund and refundable deposit, supporting receipt/ bills of the same should be furnished along.
Below mentioned are points to keep in mind when you apply for a education loan at loanbaba.com. Depending upon the individual capacity of the borrowers to repay the loan amount and bank’s own specific criteria like margin money, the maximum amount of loan that can be financed is Rs. 10 lakh for study in India and Rs. 20 lakhs for study abroad. The loan amount covers cost of books, hostel charges, tuition fees, travelling expenses and such other charges mentioned in the letter of admission. One can also apply education loan online via various websites, some of which are of specific banks. Loanbaba education loan is one of the best education loans online because our website provides top providers of students’ loans not only for India but also abroad.
It is highly recommended that if you need education loan urgent, you should go for applying education loan online. What if you do not get any job after completing the course? In case you do not get a job after completion of course, the bank may or may not agree for extension of repayment period taking into consideration the factors like genuineness of case and financial condition of the family. In any case the repayment period cannot be extended more than 10 years.
You can apply for an education loan if you plan for a safe and efficient way of financing your child’s educational requirements. The features and benefits of educational loans are detailed below:
The parent or guardian need to be co-borrower in this case as the loan cannot be given to the student only.
The loan amount depends upon the course to be pursued by the student and annual family income.
In case you want education loan for your girl child, you will special discount/ concession in interest rate.