Fees & Charges
Promised Interest Rate
"I took a education loan from Bank of India five years ago. It was the only bank who provided loan on the basics of the reference were as no banks were ready to offer loan.The loan was disbursed within 7 days with the interest rate of 11%. They allowed me to make the partial payment by just collecting minimal charges."
Any of the following courses, as offered by recognized universities, is eligible for an education loan in India-
Generally, there are no restrictions. Most banks and financial institutions do not impose this rule. However, certain lenders do mark an age limit spanning from 16-35 years.
Not immediately. However, after you start repaying, you are free to deduct the loan interest amount from your total income when calculating tax.
The applicant is expected (and mandated) to submit his/her progress reports periodically. The progress reports could be mark sheets or a suitably attested letter from the applicant’s school/college.