Seeking an education loan? Still waiting for an answer to your application? Tired of calling up the bank? Now, you are in for some good news. In the face of rising complaints from students of inordinate delays in the sanction of education loans, the Indian Banks Association have askedbanks to sanction all such loans within 15 days. Besides, unlike the current practice where banks reportedly refuse...
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Getting through a reputed management institution might just get you a cheaper education loan as banks look to encourage meritorious students.Public sector banks are offering education loans to students of top institutes in the country at rates up to 200 basis points, or two percentage points, below those charged on regular education loans.Central Bank of India, which has an education loan book of around...
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Invest regularly in mutual funds to repay an education loan gradually as your investments grow...
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DHFL, the country’s second-largest housing finance company in the private sector, today ventured into education finance with the launch of Avanse Education Loan.It has set up a non-banking finance company (NBFC) that will provide education loans for higher studies.The NBFC, a non-deposit company, will compete largely with PSU banks that now dominate the education loan market. It is estimated that the...
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Public sector banks propose to relax the terms of their education loan schemes following a drop in the growth of such loans last financial year.The banks now propose to offer education loans of upto Rs 4 lakh to more than one person in a family contrary to the earlier practice of extending loan to only one person in a family. Such loans do not require any collateral.Further, the banks propose to extend...
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Education is expensive, especially if one is aiming for a premium institution or a foreign degree. Education loans can be a big help.According to Google AdWords Keyword tool, used to track internet search volumes and advertising, over one lakh people from India key in the words 'education loan' or similar phrases every month on the search engine.Student loans have grown more than ten times since 2004,...
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Maximum loan amount is Rs. 7.5 lakhs for education in India and Rs. 15 lakhs for education abroadInterest rates: Only PLR (13.5% at present) for over Rs. 4 Lakhs and a reduction of 1% for loans less than Rs. 4 lakhs*The students can repay the loan immediately on getting an employment after his education or after the moratorium period granted by the bank, which will range from 6 months to one year on...
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one of the premier business schools in the country, he applied for an education loan. With the government defining education as priority sector, he had little difficulty in getting a loan. Later, Akshat got through one of the best MNCs in the country drawing Rs 14 lakh per annum. While one would expect him to repay his education loan with ease, Akshat conveniently forgot about it.He is not a solitary...
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Chennai, Jan 20 (IANS) Bank officials should be "punished with imprisonment" if they reject education loan, says a member of parliament belonging to the DMK."Bank officials should be punished with imprisonment if they reject education loan or charge higher rate of interest than what is prescribed. In many cases, rural students are denied even an application for education loan," R. Thamaraiselvan, the...
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number of students applying for educational loan to study abroad has declined. Lesser number of students opting for overseas education and high base effect are the major reasons for slow growth in education loan disbursement.The sources from IDBI revealed that the base effect has a major role to play. Education loans started becoming popular only from 2008. Now taking 2008 as base, which is essentially...
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