Who can get an Education loan?

by Rokdabazaar .com Loan, Cards, Investments
apply for education loan and education is important for everyone. Without education, you can’t imagine the beauty of the world. To pace with the growth of technology education plays an important role. Educated people of the country lead their nation to the peak. To pursue higher education sometimes due to low in the amount we need to apply for education loan to continue education & later we can take off our loan easily because education always gives you a lot in the end. Most students discontinue pursuing higher education because of economic limits but with education loan they can pursue the education they deserve.You can take Best Education loans for any type of higher skill-based program like student education loans for the degree, student’s education loans for study in a foreign country, student loans for diploma courses and many more. There are some education loan criteria you have to follow like the student must be a citizen of India. His/her age should be between18 to 35. This age can be different according to the different banks providing education loans. They must provide documents regarding the education of college/university/institute in the form of tuition fees, library fees, and all details. All banks and Non-Banking Financial Company (NBFC) needs a guarantor if the loan amount exceeds 6 to 7 lacks to validate that the loan will be paid back in case the debtor fails to pay on his payment. As expected, the guarantor is liable in such a case. A guarantor can be in any form like your parents, your legal guardian, in some cases brother, sister, father-in-law, a mother-in-law can also become a guarantor. It depends on the bank to bank. You can apply for education loan from only one bank for any government approved course. According to the RBI guidelines, you can‘t take a loan from two different banks for your education expenses for the same course. It is intensely recommended that students should apply for an education loan at a banking organization regulated by IBA (Indian Banks’ Association) and RBI (Reserve Bank of India). Only these institutions provide loans that are considered safe in terms of monetary security and anti-theft standards.

Get Education loan online, Students can apply directly online without visiting the bank branch. There are lots of benefits for education loan on Rokdabazaar with simple steps:

  • Register on the Rokdabazaar for an education loan with phone no. and email
  • Login and fill the Education Loan application form with the understanding
  • Upload the required documents
  • Search and apply for education loan based on your necessity 
  • Confirm the information on the website and from the respective bank by visiting.
  • Verify all personal, monetary and academic details on confirmation call from Bank

The Loan amount will be sanctioned if the process is verified by the bank.

Students can manage the loan in a better way according to their financial growth. They can pay EMI payment after the education completion or after attaining a successful occupation. Students who can arrange for the complete due amount of education loan earlier can choose to repay the complete loan before its tenure, irrespective of the fixed monthly EMIs. Students can also choose to lengthen the loan tenure or lower the EMI based on their affordability. Extension of education loan can be done in two conditions, either a decrease in EMI value or an increase in loan tenure. The addition of the education loan amount can be done as per the requirement of an applicant based on their existing loan and credit record. Students wishing to continue their education or seek more funds can present their existing study loan as proof for refinancing. For more information regarding any type of loan, you can visit online to check out the student education loan apply information regarding all popular banking organizations.

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Created on Nov 10th 2019 23:47. Viewed 513 times.


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