07-05-2005, 03:50 PM
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Originally Posted by brain in drain
hii ppl...
anyone who knws the formailities of taking loans..
pls enlight poor souls..
how one shud go abt it
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hi ...
there r many banks who r offering education loans at low interest rates about 10-12%....u will need an expenditure certificate and a proof from an institute to show that u have secured admision....
there r various benefits of edu. loan like...u can upto 80-95% of expenditure as a loan..remaining u will have to finance urself...u don't have to refund money when u r in college...after completion of ur edu u can start repayment after 6 monhts...best part is that interest of such loans is low and at the same time when u start earning, u can get income tax deduction..so mostly the interest which u r going to pay gets compensated by savings in terms of income tax....
so first of get an exp cert which i am trying to get asap....
if u have got any queries post it on this forum ..
bye