Q. How much Education loan can I get ?
Study in India - Students can take up to Rs 4 lakh of loan without providing any security or margin. A loan of Rs 4 lakh to Rs 20 lakh can be taken against a third-party guarantee. This loan comes with a 5 % margin (what this means is that there will be a deduction of 5 % from the sanctioned amount of loan; borrower will have to arrange the rest of the money). The maximum limit for the loan amount is 20 Lakh.
Study Abroad - The maximum loan amount available is Rs 20 Lakh but with a margin amount of 15 percent (what this means, again, is that there will be a deduction of 15 % from the total amount of the loan; borrower will have to arrange the rest of the money).