Education Loan in Delhi

Education Loan in Delhi

Students, who have a dream to pursue their higher education in India or abroad but can't afford college can seek an education loan. There are many lenders, banks, and financial institutions providing education loans in Delhi. When a student can secure his seat in university and receive his admission letter, he/she can apply for an education loan. Students generally seek the lowest interest rate loans So; most students choose Government banks as they are considered one of the best sources to fund your education with lower interest rates. Apart from that, there are several other sources to get education loans such as government and private banks and many NBFCs and fintech lenders.

Main features of the education loan    

1. Educational loans come as priority sector lending, so all banks do have packages for educational loans leading to various banks like state bank of India, Bank of India, HDFC, PNB, AXIS BANK, etc.

2. Any student in the age group of 18-35 can avail themselves of an education loan.

3. if applicant of the education loan may not be earning, a co-applicant (either a parent, sibling or any close relative) is needed for the sanction of the loan

4. An education loan comes with a period until the completion of studies. Now, only simple interest is chargeable on the loan amount. The applicant will need to pay only the interest during this period.

5.The tenure of an education loan can extend up to 15 years including the period of moratorium depending upon the policies of the lender.