Interest Free Education Loans - Government's new Approval

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Puys, I believe its high time that I share this info with you. Abt the Educational loan , I did a lot of research adn identified that students can avail loan with complete interest subsidy (Provided their family income is less than 4.5 lakhs ...
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i want to study with loan can you help me get more information.

 https://www.camelridedubai.com/ 
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  Unsecured Education Loan

For students who lack in showing the assets or collaterals essential to obtain a secured loan can go for Unsecured Overseas Education Loans. Nationalised Banks, Private banks and NBFCs provide unsecured loans as well. Nationalised banks provide up to 7.5 lakhs whereas the NBFCs and selected private banks offer up to 45 lakhs loans. As there is no property or assets involved in unsecured loan process, the whole time of valuation is saved. Thus, the entire process for Unsecured Loan becomes very easy and smooth. Only 7-10 days are required to sanction an unsecured loan.

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from which bank will i get cheapest (indian) education loan?

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is family income a very important criteria?

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Can anyone confirm on the status of this scheme:

Whether or not has this scheme been implemented????


Also pour in your suggestions for the best interest rate provided by banks of NBFCs...

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Hi Puys,

Could you please tell if this interest subsidy scheme has been implemented in any of SBI banks. Today we went to bank and asked about this scheme, but the bank manager told that they didn't receive any information regarding this and they are asking for any proofs.

My loan was granted on Sep-2009. So I think this scheme is applicable.

Please mention if anyone of you has info on this for SBI and also provide the link for the FORM to avail this subsidy.

Thanks in advance.

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do sbi provide intrest free education loan?
is it official?

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The websites of the banks still have this loan mentioned on their website even though it says-applicable for academic year 09-10!
So is it still applicable? as in for 2011-12?? Any idea puys??

If I dont go for the college hostel and instead rent a flat or paying guest, will the edu loan include the living cost?
Or can I apply for that? :lookround:

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I had a few doubts regarding the education loan process.

1. I think the max cap on loans for courses in India is 10 Lakhs. What if I need 12/13 Lakhs (IIM-A/B/C :lookround:)?

2. Also, does the bank pay the entire first year/semester fee straightaway or do I have to pay a certain amount from my side at the time of admission and the bank will pay later? If that's the case how much do I have to pay from my side, considering the first year fee is around 3-4 lakhs?

3. Do they ask for collateral even if I get into a top notch B-School?

Eagerly awaiting a reply...

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gvijayakumarg Says
is it already implemented in banks ? gr8... which bank are u talking about ? i need to enquire my bank regarding that..... pl tel me

Hi, my sister had taken a loan from SBI for 2008-2010 batch and the interst amount that we had to give for 09-10 (after the implementation of this scheme) is being adjusted against the future interest payments. You should talk to your bank's manager..
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