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Bank Loan
Various nationalised and reputed banks offer educational loans to the students aspiring to pursue higher education. Most of the banks offer educational loan facilities for higher studies within the country as well as abroad. Nowadays, the professional education bodies have tied up with various banks providing the educational loans for their courses. For pursuing higher studies within India maximum loans upto Rs 7 lakhs is available and for pursuing higher studies abroad, maximum loans upto Rs 15 lakhs is available from different banks. The rate of interest varies between 13 to 15 percent per annum. The repayment period usually starts after one year of completion of the education. The installments usually vary for 70 to 80 months duration. The documents such as marksheets, income proof, residence proof, guarantor etc. are required. The educational loans are available under different names with different banks. For example, For more details, contact the officer / branch manager of these banks in your city / area.