Bangalore is the one of the largest education hubs in India. Millions of students from all over the country come to Bangalore to study in colleges that offer degrees for various courses such as engineering, journalism, medicine, management, etc. However, there is no doubt, that with time, the cost of education has been rising, and hence a need for education loans is inevitable. If you are a student who is looking to study in one of the academic institutes in Bangalore, then applying for an education loan can help you in taking care of your academic needs. Most of the banks and Non-Banking Financial Companies (NBFCs) in India offer education loans. It is important you properly compare the various loans on offer before settling for the one suitable for you.
There are various reputed, autonomous, and deemed-to-be universities which offer courses for different fields of study. Courses are offered in the field of engineering, medicine, law, journalism, management, and various other fields.
Some of the reputed educational institutes in Bangalore are:
|Bank||Rate of interest offered||Tenure|
|HDFC Bank||9.40% p.a. onwards||Up to 15 years|
|ICICI Bank||10.50% p.a. onwards||Up to 12 years|
|State Bank of India||9.30% p.a. onwards||Up to 15 years|
|Axis Bank||13.70% p.a. onwards||Up to 20 years|
|Bank of Baroda||7.70% p.a. onwards||Up to 15 years|
|Union Bank of India||6.80% p.a. onwards||Up to 15 years|
|Federal Bank||10.05% p.a. onwards||Up to 15 years|
|South Indian Bank||7.70% p.a. onwards||Up to 15 years|
|Canara Bank||6.90% p.a. onwards||Up to 15 years|
|Tamilnad Mercentile Bank||10.45% p.a. onwards||Up to 15 years|
Following expenses are covered under an educational loan:
Given below is the list of documents you will have to submit while applying for an education loan from Bangalore:
You will have to look for certain factors before applying for an education loan:
You can visit a bank’s official website and apply for an education loan. A representative from the bank will get in touch with you and will assist you further with the application process.
You can visit a bank’s nearest branch along with all the required documents to apply for an education loan. A bank representative will assist you with the application process.
It may take up to 15 days for your loan application to get approved.
Yes, you can apply for an education loan if you are planning to study in a foreign university.
Generally, you may not be required to provide any security while applying for an education loan. However, the bank may ask you to show collateral, if your loan amount exceeds beyond a certain limit.
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