Can anyone pls tel me the procedure for getting education loan to study abroad?
You can get loans from several banks such as Bank of India, Andhra Bank, Canara Bank, State Bank of India, Axis Bank, HSBC Bank, Indian Bank etc. are offering education loans for the students willing to study abroad. Based on the loan amount, certain percentage of security (such as NSE shares, house mortgage etc.) is required and interest is charged accordingly. The interest rates would generally not exceed the Prime Lending Rates (PLR). Certain banks also accept a third party guarantee instead of security. To avail of bank loans, the candidate needs to fulfill certain conditions such as they must be an Indian resident, confirmation of admission and requirement of minimum annual income. The repayment of loan generally starts after six months of course completion or one-month of job (if employed immediately after course completion) and the entire amount has to be repaid in 5 to 7 years (from the first payment). Even you can get loans trusts. Trust loans are either interest-free or charg
