Someone has asked,
Questions on Education Loans.
Q. Can we get an education loan up to 2 crores?
Ans. Education Loans are sanctioned as per the cost of the course and limits prescribed. Expenses like Donations or Capitation fees are not financed by banks. In case of admission secured in Premier Institutions, banks do sanction 100% finance.
Q. Does Bank of India gives an exemption for education loan due to corona or any discount on the one-time settlement of education loan?
Ans. Bank Of India or any other bank can extend Corona relief as per policies formulated by Govt. Of India, RBI, and also subject to Hon’ble Supreme Court decisions. If your income has stopped after the eruption of the coronavirus pandemic, and your account was a regular/ standard one before that, you may approach your bank for relief as per prevailing rules. If the account was already an NPA (Non-Performing Asset), the bank can consider a one-time settlement as per the existing policies of the bank. So, in any case, you should approach your bank-branch for a meaningful resolution.
Q. Can
I get a student loan without a 10th pass certificate because I only pass 9th
standard? (31.05.2020)
Ans. The minimum criteria to avail of an Education Loan is 10+2
Q. Can I get
a student loan without a 10th pass certificate because I only pass 9th
standard? (27.05.2020)
Ans. The minimum criteria to avail of an Education Loan is 10+2
Q. Education
loan ki avadhi badhane ke liye letter
Ans. If you are
talking about an extension of the repayment period, it is already 15 years from the
commencement of repayment. If you have any cogent reasons for seeking any
relaxation in that also, please contact your bank’s branch.
Q. Sir, now I
am studying Inter 2nd year after completion of 2nd year can I apply for
education loan.
Ans: Minimum eligibility
is 10+2 with a good academic record. For other eligibility norms, please go
through the detailed article on Education Loan Policy, published at the site- www.safal-nivesh.com
Q. I want to
change my cosigner for Undergraduate Student Loan foreign student
Ans. Please
contact your bank branch with full details for any change in sanction-terms.
Q. Recently I
settled my son's education loan at Indian Bank Kumbakonam bank did not give any
details what are the options
Ans. Kindly list
down what details you need and submit a request to the branch. You can always ask for information regarding your
son’s education loan as a co-borrower /guarantor. You may also
ask for a No Dues Certificate if the account is finally closed.
Q. Can I get an education loan after completing my HS exam?
Ans. Yes, please
check for eligibility criteria which are published
in an article on Education Loan Policy at this site- www.safal-nivesh.com
Q. To
avail rebate under 80 E for interest on education loan How is the dollar rate
calculated as banks sell the dollar at a relatively higher rate
Ans. Loan is
disbursed in Indian Rupee (INR), subsequently required amount is converted in US $ to facilitate remittance abroad.
Interest is also charged in INR and tax benefit is also to be claimed in INR,
so there is no relationship between Exchange Rate and Section 80E benefits. You
may check your loan account statement for this purpose. As regards banks charging a high rate of
exchange, there is always a difference in the buying and selling rate of a currency
and banks make a legitimate profit out of that difference.
Q. My
monthly pension is Rs 50000 How much education loan bank sanctions for MBBS
course of my child
Ans. Quantum of
an education loan is not linked to the pension or salary of parents, but it is on
the basis of the cost of the course. Parents are taken as co-borrower and data of
their income is obtained to complete their profile with the bank. Moreover, the
loan is to be repaid from the income of the student when he or she starts
earning after completion of the course.
Q. How
can I get an education loan for GNM Nursing in India?
Ans. You can visit a bank-branch near to your permanent
residence or you can apply online at Vidyalakshmi portal.
Q. How can I
get an educational loan if my parent has a low income? Ans. Education
Loans are granted on the eligibility of the student and the course, parents are taken
as co-borrowers. Please go for more details in an article on Education Loan at
www.safal-nivesh.com
Q. A bank
where a student can get an education loan and he can give this loan back when he
gets a job.
Ans. You can
contact the nearest bank-branch from your permanent residence.
Q. Education
loan ke liye documents kya 2 chahia (03.08.2020)
Ans. Please go
through an article on Education Loan Policy published at www.safal-nivesh.com
Q. Sir I want
to increase my education loan EMI how to write अब letter to the bank
manager.
Ans. It is
advisable not to change your EMI, but you can always pay any surplus amount which you may have. This will help you
to close your account early.
Q. agar apne
sbi bank se education loan liya hai or apko ab wo college ki fees yani 3 sem ki
fees bhrni hai toh uske liye application Kaise likhe.
Ans. Please write a simple application and contact your
branch with a copy of the Mark Sheet of the previous semester and Demand Letter of the
college, if the schedule of payment not submitted earlier.
Q. I have
taken an education loan from a nationalized Bank against particular property can
this converts against other properties.
Ans. Yes, it is possible, if the proposed property has
more value than the existing one. Please contact your branch for the same.
Q. In whom
cheque should be written for payment of education loan of Canara Bank.
Ans. For
repayment of a loan, you can draw a cheque in favor of Canara Bank Education
Loan A/c…….(your name).
Q. Write a
report on the procedures followed by the nationalized bank for lending education
loan.
Ans. Please go through an article on Education Loan
Policy published in www.safal-nivesh.com
Q. If my
parents are government servants, can I apply for an education loan?
Ans. Yes, you
can, if otherwise eligible.
Q. Can I get
education loan for further study in Rashtriya Indian Military College Dehradun
If yes what is the procedure?
Ans. Yes. For more details, please go through an article
on Education Loan Policy, published at go through an article on Education Loan
Policy at https://www.safal-nivesh.com/
Q. My age is
17 I get an education loan in my account.
Ans. You can
apply for an Education Loan along with your parents/ guardian as co-borrower if
otherwise eligible.
Q. After
becoming an IAS his education loan can be canceled.
Ans. If you have
been sanctioned an Education Loan and have not availed it so far and meanwhile,
you are selected as an IAS, you have to take a decision whether to go for IAS
or for further studies. If you choose for further studies, you can avail of the
loan.
The second scenario maybe you have been sanctioned a loan and
availed it, now you have been selected in IAS, in this case, you may continue
to repay your loan as per agreed terms of repayment.
Q. Education
loan na lotane par kya hota hai.
Ans. First of
all, Bank may initiate appropriate recovery proceedings in the Court of Law.
Secondly, your poor repayment record gets reported to CIBIL as per the system,
so no bank will be agreeing to give you a loan in the future.
Q. If some
have an education loan and also have a locker account in the same bank of another
branch does the bank can attach the deposit of the locker.
Ans. In both
cases relationship between Bank and a customer are different as per law. So anything kept in your locker can not be attached for recovery of the loan without an
appropriate Court Order.
Q. From when
are interests charged for student loans?
Ans. Interest is
charged from the very day when the account is debited. However, the interest is
charged on the amount actually debited and paid and not on the sanctioned limit.
For example, if the account is debited for Rs.100/- today and Rs. 1.5 lakh tomorrow,
so interest will be calculated on Rs. 100/- for a day and on 1,50,100/- from
tomorrow.
Q. If a
student studying in autonomous college is eligible for getting an education
loan.
Ans. Yes. For more details, check the name of the college in the approved list of universities /
colleges.
Q. Education
loan not availed for six months can it be availed after that time.
Ans. If you were
sanctioned an Education Loan and did not avail of it for any reason, you are required to get the
sanction re-validated to avail the same.
Q. If the value of the 1-acre property is
4000000 how much I can get education loan
.
Ans. Education Loans are granted on the basis of the cost
involved as per college/ university prospectus document, subject to maximum
limits. For more details on eligibility, please go through an article on
Education Loan Policy at www.safal-nivesh.com
Q. If my
father has a government job then can I apply for an education loan
Ans. Of course,
you can apply if otherwise eligible.
Q. I don’t
pay my education loan but my business goes well to improve it I need a loan do I
eligible for a business loan.
Ans. Please check
your CIBIL record first. It will be more appropriate to repay your overdue /
NPA loans in full before applying for a fresh loan.
Q. Educational
Loan eligibility for nationalized banks.
Ans. To check your
loan eligibility, please refer to an article on Education Loan Policy at www.safal-nivesh.com
Q. Bank give
education loan to students after 12th.
Ans. That’s
right. For more details, please go through an article on Education Loan Policy
at www.safal-nivesh.com
Q. My
daughter is applying for an educational loan should Has father I be a
co-borrower.
Ans. Yes. Please go
through an article on Education Loan Policy at www.safal-nivesh.com
Q. Education
loan eligibility for pension person.
Ans. The eligible age for an education loan is 16-35 years.
For more details, please refer to an article on Education Loan Policy at www.safal-nivesh.com
Q. Can NBFCS
put any conditions or ask for personal details of the student for foreclosure
of education loan?
Ans. Any lender has a right to know about his borrower. After all,
bank or NBFC are taking an exposure for funds which belong to a third entity called depositor.
Q. Can I get a student loan after completing college first year in India.
Ans. You can
apply for a loan for the amount of expenditure involved in studies of the remaining
course period, if otherwise eligible.
Q. I want to
restart my education loan repayment after a gap of around 12 years How should I
initiate the discussion.
Ans. You may
visit your bank and tell them about your preparedness to pay, also advise why
you could not pay earlier. Please submit your payment plan and also make some
down payment to show your seriousness.
Q. Can
I get a student loan without a 10th pass certificate because I only pass 9th
standard? (31.05.2020)
Ans. The minimum criteria to avail of an Education Loan is 10+2
Q. Can I get
a student loan without a 10th pass certificate because I only pass 9th
standard? (27.05.2020)
Ans. The minimum criteria to avail of an Education Loan is 10+2
Ans. If you are
talking about an extension of the repayment period, it is already 15 years from the
commencement of repayment. If you have any cogent reasons for seeking any
relaxation in that also, please contact your bank’s branch.
Q. Sir, now I
am studying Inter 2nd year after completion of 2nd year can I apply for
education loan.
Ans: Minimum eligibility
is 10+2 with a good academic record. For other eligibility norms, please go
through the detailed article on Education Loan Policy, published at the site- www.safal-nivesh.com
Q. I want to
change my cosigner for Undergraduate Student Loan foreign student
Ans. Please
contact your bank branch with full details for any change in sanction-terms.
Q. Recently I
settled my son's education loan at Indian Bank Kumbakonam bank did not give any
details what are the options
Ans. Kindly list
down what details you need and submit a request to the branch. You can always ask for information regarding your
son’s education loan as a co-borrower /guarantor. You may also
ask for a No Dues Certificate if the account is finally closed.
Q. Can I get an education loan after completing my HS exam?
Ans. Yes, please
check for eligibility criteria which are published
in an article on Education Loan Policy at this site- www.safal-nivesh.com
Q. To
avail rebate under 80 E for interest on education loan How is the dollar rate
calculated as banks sell the dollar at a relatively higher rate
Ans. Loan is
disbursed in Indian Rupee (INR), subsequently required amount is converted in US $ to facilitate remittance abroad.
Interest is also charged in INR and tax benefit is also to be claimed in INR,
so there is no relationship between Exchange Rate and Section 80E benefits. You
may check your loan account statement for this purpose. As regards banks charging a high rate of
exchange, there is always a difference in the buying and selling rate of a currency
and banks make a legitimate profit out of that difference.
Q. My
monthly pension is Rs 50000 How much education loan bank sanctions for MBBS
course of my child
Ans. Quantum of
an education loan is not linked to the pension or salary of parents, but it is on
the basis of the cost of the course. Parents are taken as co-borrower and data of
their income is obtained to complete their profile with the bank. Moreover, the
loan is to be repaid from the income of the student when he or she starts
earning after completion of the course.
Q. How
can I get an education loan for GNM Nursing in India?
Ans. You can visit a bank-branch near to your permanent
residence or you can apply online at Vidyalakshmi portal.
Q. Can a family friend be a co-borrower for an education loan of 50 Lacs?
Ans. First of
all, congratulations to have such a helpful family-friend. If he /she has assets of adequate value in his/her
own name with title deeds, he/she can be taken as Guarantor.
Q. My only income comes from commercial rent and from this, I pay the commercial loan, education loan, and home loan now they have stopped the rent What should I do?
Ans.: You are
advised to contact your bank with full facts and figures, they should be able
to guide/help you in the matter.
Q. How to write an application for issuing a third installment of an education loan?
Ans. You may
write a simple application in a local language / Hindi/English requesting for the release of the required amount. Please remember, your request should be accompanied
by your College/ University Demand Letter and Mark Sheet of the previous
semester.
Q. Criteria of education loan of SBI staff children.
Q. Whether a pensioner can get an education loan for his son to study abroad.
Ans. There is no
restriction on a pensioner’s son availing
an education loan, please go through the detailed article on the subject
published in www.safal-nivesh.com to check eligibility and terms and conditions of an education loan.
Q. Does Jammu
and Kashmir Bank cover accommodation fees in education loans?
Ans. The hostel Fee
is included in the cost of the course. If the hostel facility is not available for
any reason, a student may request for reimbursement of a reasonable amount for
making stay arrangements outside duly
supported by some documentary proof.
Q. If we get an education loan it will be sent to the bank account or otherwise, the loan will be sent to the college which is a fact?
Ans. The proceeds of the loan amount are remitted directly to a college/ university /vendor by way of a
DD/Pay Slip/RTGS/NEFT etc. Only those expenses which are already incurred and the bank agrees to reimburse them on the basis of documentary evidence, can be
credited to the student’s/ borrower’s account.
Q. What percentage is reserved for rural areas under education loans?
Ans. There is neither
a reservation nor a restriction to
finance a good student in respect of the area, he/she belongs to. Please check
for the eligibility and other details of the scheme in an article published in www.safal-nivesh.com.
Comments
Post a Comment