Loan Expert

Hello sir I want to take education loan for higher studies so please provide me information about how to take easy loan.

[Kiran Chandar]

Education loans for MBA degree programs may differ from other types of loans as the interest rate may be low and the repayment schedule can be deferred while the student is still in education.

Education Loan

A loan helps make you independent.

You'll help your parents by financing your MBA by yourself.

You'll be able to finance unforeseen expenses related to additional exams to be taken, travel arrangements, laptop computers, and books.

Steps to Apply for an Education Loan for Your MBA

It is very simple to apply for an education loan. You can apply from anywhere in India.

You can even apply before your confirmed admission.

Most banks provide an online application and support. The process is simple, as illustrated below:

Student: Complete an online education loan application form
Bank: Follow up with the student and parents to answer questions
Bank: A representative visits your house and collects a signed application form with the supporting documents
Student: Provides a completed education loan application form with all the required supporting documents
Bank: A credit team will review and underwrite the education loan application
Bank: Approves the education loan or asks for any additional information required
Student: Completes the education loan disbursement formalities by signing the education loan agreement
Bank: Deposits the education loan amount in the required bank account electronically

How do I apply?

Most banks provide an online application with support.

After you complete the application form, a bank representative visits your house and collects the application and required supporting documents.

A credit team reviews and approves the loan or asks for additional information.

Once you sign the education loan agreement, the bank deposits the loan amount in the required bank account.

Look for banks that offer:

The full loan amount

A low interest rate

Security flexibility

Quick and door-step service