Educational Loans
Students who want to pay for their studies in India or abroad can apply for an education loan. To help candidates finance a great education, various banks and financial institutions offer Education Loans to them at attractive rates.
Types of Educational Loans
Based on location
Loan for Domestic Education:
Students can apply for this form of loan if they wish to pursue their education in India.
International Education Loan:
These loans assist students in fulfilling their dream of attending a foreign college to pursue their chosen course of study./p>
Based on Course
Undergraduate Loans:
This kind of student loan is offered to help students with their educational costs so they can finish their undergraduate degrees.
Postgraduate Loans:
Many undergraduate students want to continue their studies with a postgraduate study, which in India is often a 2-year programme.
Loans for Career Development:
Many professionals who spend a few years working in corporate positions decide to take a career break and enroll in professional training programmes in order to increase their employment prospects.
Based on Collateral
Loan secured by securities, deposits, and real estate:
To secure the funding you need to further your education, you can put up immovable assets such equity shares, bonds, debentures, fixed deposit certificates, residential, commercial, and other types of real estate, as well as gold deposits.
Independent Guarantee
The student may be able to obtain an education loan with the aid of a guarantee letter from a bank employee or a home bank.
Benefits of taking Education Loan
It is not required for students who apply for an education loan to make the payment right away; the payback period begins.