Question: How Much Education Loan Can I Get?

What is the criteria for getting education loan?

Education Loan Eligibility Tabular representationParticularsEligibilityAgeMinimum- 18 years Maximum- 35 yearsAcademic recordProven- goodQualificationPursuing graduate/postgraduate degree or a PG diploma.Income sourceParents/Guardians5 more rows.

What is the EMI for 20 lakhs home loan?

Housing Loan Interest CalculatorEMI for various home loan amounts15 years20 years₹ 20 Lakh₹ 17,809₹ 15,326₹ 25 Lakh₹ 22,262₹ 19,158₹ 30 Lakh₹ 26,714₹ 22,990₹ 50 Lakh₹ 44,523₹ 38,3161 more row

Which bank provide education loan easily?

HDFCThe maximum loan amount by HDFC Bank is up to INR 20 lakhs. The processing fees for education loans is up to 1.5% of the loan amount with no fees levied for prepayment of the loan….HDFC education loan interest rates.Loan amount limitHDFC interest ratesHDFC education loan interest rate (average)11.88%2 more rows

How can I get a student loan without my parents?

You can get a private student loan without a parent, as well, but there’s a pretty big catch. Private student loans generally require a creditworthy cosigner, but the cosigner does not need to be your parents. The cosigner can be someone else with very good or excellent credit who is willing to cosign the loan.

Can I get 20 lakh loan?

Check the loan amount you are qualified for against your income and other factors with the help of a personal loan eligibility calculator….Eligibility Criteria for Rs. 20 Lakh Personal Loan.Eligibility CriteriaRequirementsCIBIL score750 and above3 more rows

Can I get 50 lakhs education loan?

Educational loans in India can vary between Rs. 1 lakh to upwards of Rs. 30-50 lakh.

How is education loan EMI calculated?

Follow these steps to calculate your EMI Amount:Use the slider for Selecting the Loan Amount.Select the Loan Tenure in Months using slider.Move the slider and select the Interest Rate.Recalculate your EMI anytime by changing the input sliders.EMI will be calculated instantaneously when you move the sliders.

Which bank has lowest interest rate on education loan?

Compare Top Education Loan Offers 2020Education Loan SchemesInterest RateProcessing FeesPNB7.30% onwards1% of loan amountSBI7.97% p.a. – 10.05% p.a.Rs.10,000 + taxAxis13.70% to 15.20%Nil to Rs.15,000 + taxBank of Baroda8.25% to 10%*1% of loan amount up to Rs.10,0007 more rows

Can I get 30 lakh loan?

Here’s the Lowest Calculated EMI of 30 Lakh Home Loan amount for 20 Years. It will give you roughly how much you have to pay for Interest & Total Amount with Interest….30 Lakh Home Loan Interest Rates.SBI7.90 – 8.45%Axis Bank8.55% – 9.10%Bank of Baroda8.15% – 9.15%Canara Bank8.10 – 8.55%Aadhar HousingN.A4 more rows

How much loan can I get on 35000 salary?

If you are taking a home loan for 35,000 salary, you can get a maximum loan amount of Rs. 20,16,481 at say an 8.5% interest rate for a tenure of 20 years. In this situation, the home loan EMI amount you would pay is not more than Rs. 17,500.

Can I get 20 lakhs education loan?

The Credit Guarantee Fund for Education Loans (CGFEL) Scheme provides a guarantee for education loan dispersed by banks under the Model Education Loan Scheme of Indian Banks’ Association (IBA). … Under the CGFEL scheme you can get a loan up to Rs 10 lakh for study in India and up to Rs 20 lakh for studying abroad.

How much education loan can I get India?

Currently, for loan up to Rs 4 lakh, there is no margin money required. For studies in India, 5% of the required money has to be financed by the applicant. On the other hand, for studies overseas, the required margin money increases to 15%. The banks also ask for collateral for loans above Rs 7.5 lakh.

How much education loan can I get for MS?

Students can avail a loan of up to INR 1.5 crore and have to repay it within a period of 15 years. The borrowers need to provide collateral to secure this loan and will have to start repayment after 6 months of completion of the course.

What is the EMI for education loan?

EMIs for educational loans can be broadly classified as the EMI paid during the loan disbursal or the EMI paid back after getting the loan. Pre-EMI: Pre-EMIs are the payments that are made towards the interest component of the education loan which is disbursed in parts.

What are the documents required for Vidyalakshmi education loan?

Documents required for education loanDocuments required for education loanParticularsAcademic RecordsLast qualification marksheets, score card, degree or diploma Latest admission proofs Basic qualification records (HSC/10th/12th passing records)Financial documentsBank Statements Income Tax documents3 more rows

Is it easy to get education loan?

Easily available: Education loans are widely and easily available. In fact, they are a priority product in all banks as per the RBI’s guidelines. Varied loan amounts: Banks can offer loans anywhere between Rs. 2 lakhs and Rs.

How can I get 3 lakh loan?

3 lakh Personal Loan:Provide your personal, financial, and employment data.Choose the loan amount and repayment tenor to avail quick approval.Provide the required documents to our representative, who will come at your doorstep.Receive your personal loan in your bank account within 24 hours.

Is education loan a term loan?

Term loan can be any loan that has a tenure defined to it and shall be repaid in a definite time frame. Term loans can be offered among various lending products that include business loan, personal loan, home loan, education loan, auto loan and gold loan.