Education is the key to the development of a country's economy in recent years has grown in the field of education abroad. However, there is a huge cost factor that many students interested and worthy of a deterrent to training abroad.Here is a look at the typical public education credit offered by banks
The only criterion is that the student needs to complete a credit application to training, access to a UK university or institution guaranteedDepending on the financial needs of the payments depends on the ability of parents, guardians, students with a ceiling of RS 15 lakh for studies abroad can, which vary among banks, depending on the course.
Margin money is part of education spending that the bank does not pay and must be paid by the students. With public banks, there is usually no room for a loan of up to four lakh rupees. For loans above Rs 4 lakh margin of 15 percent for studies abroad.Interest rates are in line with RBI guidelines. No service charge is usually applied to student loans.Payment is made directly to the institution or authority Auberge another concern.The interest rate is equal MTLR (average long-term loans) for loans up to Rs 4 lakh and MTLR lakh plus 1 percent for loans of more than 4.Please confirm the interest rate at time of application.It allows a refund of the holiday (or suspension) in the course of a month or six years after the receipt of employment, whichever occurs first. This fact should provide students with a well-deserved vacation. The loan must be paid within 5-7 years after the return. Available only to be during the moratorium period interest is calculated simple (not compound) is a sweetener. The students are also offered 0.5 percent of the grant of the loan amount paid each month for partial payment of interest. One percent of the concession can be offered during the moratorium, if all the interest is paid during this period.
There is no guarantee that borrows up to four lakh rupees. Must be over 4 lakh rupees that the borrower a security equal to 100 percent of the loan or the guarantee of a third person known to the bank put.Processing fee and there are no pre-payment of fees.