About Education Loan Indore
An education loan is a specially designed loan for students who prefer to either receive additional funding or borrow towards fulfilling all their educational expenses. Both parents and students can apply for it, but it is advisable that students apply. Many students feel that taking an education loan is either risky or not preferable. However experts believe, the right education loan can go a long way towards creating less stress in the family, providing additional comfort, and making oneself confident by providing the required support for education.
Almost every bank in India offers an education loan scheme. Each of them is different but they are all made to support the education of the youth. It doesn’t matter what’s your college or study program because this loan is to provide support to any student having a will for obtaining an education. It covers graduation and post-graduation programs, along with other certified courses.
Major Education Loan Banks Providers in Indore
| Education Loan Criteria | SBI Education Loan | HDFC Education Loan | Axis Education Loan |
| Interest Rate | 6.85% – 8.15% | 9.50% – 13.3% | 8.55% – 10.5% |
| Loan Amount | Up to 1.5 crore | Up to 20 Lakh | Up to 40 Lakh |
| Tenure | Up to 15 Years | Up to 15 Years | Up to 15 Years |
| Processing Fee | Up to 2.0% | Up to 1.0% | Up to 15k |
| Loan for Abroad Studies | Yes | Yes | Yes |
| Online Approval | Yes | Yes | Yes |
| Apply | Apply Now | Apply Now | Apply Now |
Top Institutes for Education Loan in Indore
Types of Colleges in Indore
- Engineering college
- Biotechnology college
- Medical college
- Pharmacy college
- Management college
- Architecture college
- Law college
- Science, Commerce, and Arts college
- Physical education college
- B.ED college
Top 10 Colleges in Indore
- Indian Institute of technology
- Indian Institute of Management
- Devi Ahilya Vishvavidayalaya
- Guru Gobind Singh College Of Dental Science
- Index Medical College
- Sri Aurobindo Institute of Medical Science
- Mahatma Gandhi Memorial Medical College
- Modern Dental College
- Jaipuria Institute of Management
- Institute of Business Management and Research
- Management Studies
Top 10 Universities in Indore
- Devi Ahilya Vishvavidyalaya
- Oriental university
- Sage University
- Prestigious Institute of management
- Indian Institute of Technology
- Sanghavi Institute Of Management
- Dr APJ Abdul Kalam University
- Medi Caps University
- Indian Institute Of Management
- Symbiosis University of applied science
Courses Offered
| Courses Offered | |
| UG | PG |
| B.A | M.A |
| B.Sc | M.Sc |
| B.Com | M.Com |
| B.E, B.Tech | M.E, M.Tech |
| BDS, MBBS | MD, MS, MDS |
| B.Pharm. | M.Pharm. |
| BBA | MBA |
| LLB | LLM |
| BHM | PG Diploma in Hotel Management |
| B.Arch | M.Arch |
Types of Expenses covered by Education Loan Indore
| Expenses Covered | Courses Covered | |
| Studying in India | Studying Abroad | |
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Documents Required for Education Loan Indore
Any hardcore paperwork is important for the education loan Indore. Though the process is simple and online, however, the requirement might vary by lending organizations or banks. In addition, some banks can be very strict in maintaining their terms and conditions with respect to mandatory documents submission. If no documents are submitted, the application may be rejected. List of Education loan Indore documents:
- Duly filled and signed education loan form with affixed photographs
- 2 passport sized photographs
- Copy of 10th and 12th standard mark sheets
- Statement of cost of study and course expenses
- Government ID and Pan Card of student and parents/guardian
- Proof of age – Aadhaar card, voter ID, passport, driving license
- Proof of identity – Voter ID, Aadhaar card, passport, driving license
- Proof of residence – Utility bill, rental agreement, last 6 months bank statement of the student or parent, gas book, ration card, telephone bill
APPLY FOR AN EDUCATION LOAN AT 9.50%
How to Apply for Education Loan Indore
To apply for an education loan in Indore, firstly you have to check the eligibility and valid documents required. As the various banks offer different rates of interest on education loans. An education loan can be applied offline as well as online.
For offline you have to visit the nearest branch of education loan Indore bank and get the offers of various banks. The customer relationship manager will provide you with all details and offers on education loans. You have to provide all the valid documents necessary for application for the Education loan Indore.
To apply online, you need to visit the Dialabank website, and click on the education loan tab, choose the city or place where you need an education loan.
To apply online:
- Click on this link Education loan Indore
- check your eligibility and valid documents required
- Fill your details
- Submit to “Get the best offers”.
FAQs For Education Loan in Indore
✅How long does it take for an education loan to be sanctioned?
It takes 15 days for an education loan to be sanctioned.
✅Will the education loan interest be the same throughout the entire course?
The education loans are offered at a floating rate of interest, so the rate of interest may increase or decrease depending upon the external economic conditions and internal company policies.
✅Does an education loan cover all the expenses even if I decide to study in India?
Yes, an education loan covers tuition fees, living expenses, travelling and other additional expenses even in India.
