How to Get an Education Loan

I want to get information about that, how I can get an Education Loan means requirements. So here can you provide me information about the Education Loan steps?

[Shaleen]

As per your request here I am providing you information about the Education Loan means requirements/ steps.

Here I am telling you about the following steps as you want.

What Applicants Need for An Education Loan
Co-applicant is a must;
can be parents, spouse, siblings

For loans between Rs 4-7.5 lakh
third-party guarantor is required

For loans above Rs 7.5 lakh
lender will ask for collateral

For abroad studies,
loan alone might not suffice;
look for part-time job or sponsorship

Insurance is compulsory for foreign courses

Repayment starts six months to one year after completion of the course

Default in payment will affect credit history of student and co applicant

If student goes abroad, lender will recover from co-applicant, that is, parents


Here I am providing you information about the one bank interest rate for a rough idea as you want.

UCO Bank Interest Rates-
Base Rate+3.00% for loan upto Rs. 4.00 lacs
Base Rate+3.75% for more than Rs. 4.00 lacs