Features and Benefits of Education Loan

1. Universally available. Anyone with a will to study can apply.

2. Education loans are provided to pursue all types of academic courses, in India and

abroad. The courses include graduation, post-graduation, vocational courses and other

certificate courses.

3. Loan amounts can vary from a minimum of Rs.10 lakhs to a maximum of Rs.15 lakhs.

For education abroad, banks will provide loans to the quantum of Rs.20 lakhs.

4. The applicant’s annual family income and the course pursued are primary

determinants for the applicable loan amount.

5. Usually, female students are offered discounts and/or lower interest rates when it comes

to education loans.

6. Government sponsored subsidy schemes, such as ‘Central Scheme to provide Interest

subsidy (CSIS)’ help students from the economically backward sections of society avail

the benefits of a robust loan for education.

7. The applicant need not repay the borrowed amount immediately.

8. Post the completion of the course, the repayment tenure can stretch upto 5-7

years.Generally, loans below Rs.4 lakhs do not require a security or guarantor