India Universities - Education Loan in India

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India Universities - Education Loan in India

If you want to study abroad in India, it is possible to obtain education loans. While getting these loans was difficult in the past, it has now become easier than ever before. A large number of national banks in India have created education loans. The terms of these loans will vary with each institution, so it is important to do your research before using them. To get an education loan in India, a student will have to be eligible. The student will need to be between the ages of 16 and 28. The student must also obtain admission for courses, which are recognized by the states or central government of India. Most courses, which are related to computers, are recognized.

Interest rates for loans
The education loans may not cover certain courses. All students who apply for these loans will need to have an excellent academic history. Students who are studying abroad in science or technology related fields will generally be allowed to get education loans. Courses, which are related, to law or accounting are also acceptable. The loan amounts that are offered to students may vary. If the student will stay in India to complete their studies, they could get up to Rs. 3 lakhs. If the student is studying abroad, they may receive a loan which could be as high as Rs. 5.00 lakhs. The interest rates for these loans will range from 12 to 14%. Rebates may sometimes be offered depending on the circumstances.