Know the Maximum Amount of Student Loan for Undergraduate Students

Posted In education loan On March 16, 2019
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For students who are fresh out of high school and are planning their higher Education,  this is the right time to do so. Keeping in view the growing cost of Education, Educational loan funding is preferred for higher education. For students taking admission to undergraduate courses like B.Tech, MBBS, LLB, B.Sc, etc. banks provide loans at varied interest rates to students.

Different banks provide different loan rates depending on the amount required for the entire duration of the course. Indian banks are divided into public, private sectors and NBFCs. While NBFCs provide a higher loan amount to borrowers without the requirement of collateral or third party guarantor; Public Sector banks provide concession on the rate of interest to the borrowers. Thus, it is important to gather knowledge about the loan schemes from different banks to select the best loan plan for you.

Although there is no upper limit on the loan amount granted to students for Education loan, but depending on the course structure in India, maximum loan granted varies from 50-80 lakhs. This loan amount is decided depending upon the amount required for course completion provided you need to provide collateral for security issues to the bank. Also, a co-signer is an eligible criteria for availing the loan.


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