Deciding Factors to Acquire Education Loan for Abroad Study in India

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Information about Deciding Factors to Acquire Education Loan for Abroad Study in India
Education

Published on July 15, 2019

Author: SaphairsIndia1

Source: authorstream.com

Deciding Factors to Acquire Education Loan for Abroad Study in India: Deciding Factors to Acquire Education Loan for Abroad Study in India By Saphairs India Education Loan for Abroad Study in India: Education Loan for Abroad Study in India In India, to acquire education loan for abroad study involves certain pointers that need to be considered for any loan applicant. For starters, there are certain deciding factors which, if considered properly, could help you make an informed decision regarding acquisition of the education finance for abroad study. Deciding Factors to Get Education Loan Abroad: Deciding Factors to Get Education Loan Abroad 1. Rate of Interest This is one of the most important deciding factors, considering the principal amount you take as loan can attract interest rate that may go higher or lower, depending upon a bank’s lending criteria. Generally banks offer finance for abroad study at interest rates ranging from 10.20% to 10.40% over the loan amount of Rs . 7 lakh and more. Continue….......: Continue …....... 2. Moratorium Period Another important consideration, the moratorium period is kind of grace period during which a borrower is not supposed to pay back the loan. After the expiration of such period, the repayment through EMIs starts . Students granted education loans are asked for repayment of the same after completion of their courses for which the loan was borrowed. At the end of moratorium period, the interest rate will be accumulated . Continue….......: Continue …....... 3. The Collateral Education Loan In collateral education loan, the borrower is supposed to pledge a property or certain financial assets, on the basis of which the requested loan is granted by lending institute or bank. This sounds like collateral as a mandatory requisite for a borrower which is apparently so, considering education loan is a securedfinance in India. Bank of Baroda, SBI, NBFCs are some of the loan-lending institutes which offer collateral education loan in India. Moreover, the eligible applicants can be loaned up to Rs . 1.5 crores at the interest rate revolvingaround 9.4% to 10.3%. Consult overseas education consultant for more assistance regarding education loan for abroad study in India. Contact Us: Contact Us If You are looking for education loan to study abroad. Contact Saphairs India Website: http://www.saphairsindia.in Address: 7/16,Ansari Road, Darya Ganj , Delhi, 110002, India +91-9911808088 info@saphairsindia.in

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