Student Loans for Study in Abroad 2015 :
Many Public and Private banks offer student loans for study in abroad or in country on the basis of colleges , universities ,course, etc.
In this post I am going to share about the banks who provide student loan for study in abroad or in better colleges , universities to Indians.
1) HDFC Loan for Abroad Studies : HDFC is tied with its partner Credila to provide foreign educational loans to the students of India. HDFC makes getting a loan simple. Here are some features of HDFC / Credila Loan for abroad studies–
* You can get your student loan home delivered.
* They provide flexible choices of repayment terms.
* You can get student loan upto 100% of your educational expenses.
* They sanction your loan before admission.
* HDFC / Credila accepts multi city co-borrowers for sanctioning your student loan for study in abroad.
* Billing and servicing are web enabled.
* You can get services at your doorstep.
* If you are getting admission in top ranked Universities / Colleges then you can get preferences in student loans rates.
Note :- For more information regarding HDFC/Credila student loan you can go to its official site.
Eligibility for getting students loans for study in abroad –
* Student should be an Indian citizen.
* Age must be in between 16 – 35 years to get student loans for study in abroad.
* They demand collateral security for sanctioning student loans.
* Co-borrowers are also required. example of co-borrowers – Parents, spouse and siblings, paternal/maternal uncle/aunt.
Documents Required for Getting Student loans for study in abroad –
2) SBI Loans for Abroad Studies : SBI offers loans to Indian students for study in abroad. Getting a loan from SBI is also simple. You have to go through some important procedures and your loan is sanctioned according to your need , eligibility, University, colleges and courses. Here are some features of SBI student loans for study in abroad.
* SBI covers University / College / Hostel fee.
* Examination , library and laboratory fees are also covered by SBI.
* SBI also covers Travel expenses and cost upto Rs. 50000/- for a two-wheeler.
* SBI provides a maximum of Rs. 30 lack for study in abroad.
* cheap rate of interest, click this link for more information on rate of interest.
* SBI provides Maximum repayment period for student loans .
Upto Rs 7.5 lacs – 10 years
Above Rs. 7.5 lac – 12 years.
Eligibility and Documents required for SBI students loan for study in abroad
* Student should be a citizen of India.
* You have to submit the letter of admission for getting student loans.
* 2 passport size recent photographs.
statement of expenses of study.
* PAN card of student and his/her parent.
* Aadhar cards of parent and student are required.
* Proof of identity and proof of residence such as driving license , passport, Aadhar.
* At least 6 month statement of bank passbook of parent/student.
* 2 years of IT return of Parent/co-borrower.
* Proof of income of parent / co-borrower for getting SBI student loans for study in abroad.
* Security – Upto Rs. 4 lacs only Parent/ Guardian as co-borrower.
Above Rs. 4 lac to Rs. 7.5 lac , Parent /Guardian as co-borrower with a third party as guaranter.
Above Rs. 7.50 lacs loan amount , collateral security of moveable or immoveable assets and Parent/ Guardian as co-borrower.
3) Canara Bank Student Loans for Study in Abroad : Canara bank also provides loan to Indian study who want to study in abroad. The features and eligibility criteria is mentioned below.
* Candidate should be an Indian citizen for getting loans.
* Eligible courses for which Canara Bank offer loans are, Graduation, Post Graduation, also including job oriented technical/professional courses.
* Finance – Canara bank finances upto Rs. 20 lac loans for abroad studies.
* Margin – 15% for abroad studies.
* Repayment – They offer 10 years as repayment period for a loan amount of upto Rs. 7.5 lac and 15 years for a loan amount above Rs. 7.5 lac.
* Security – They need Parent/co-borrower for sanctioning a loan amount upto Rs. 4 lac.
For a loan amount of above Rs.4.00 Lac upto Rs.7.50 Lac , a third party guarantee is required for getting Canara Bank student loans for study in abroad.
A collateral security equal to 100% of the loan amount is required to grant loans above Rs. 7.5 lac.
For more information on Canara bank student loans , you can click on this link.
In this post I have shared Student Loans for Study in Abroad 2015. In this post you can get details about those banks who deliver best loan service to students in India. If you think this post is helpful to you then don’t forget to share among your social media circles. You can also bookmark to get update on student loans for study in abroad 2015. You can also give valuable comments to us.