Education Loan Kolkata
Education Loan plays immensely an important role in someone’s career. Many universities and Colleges are awarding prestigious degrees to meritorious and talented students through Education Loans in Kolkata. Moreover, various banks and financial institutions offer education loans in Kolkata. These financial platforms offer loans at an interest rate starting from 8%-12%.
Education Loan provides a great opportunity for aspiring students in Kolkata to pursue higher education. It helps bring tuition, Accommodation, and other expenses incurred by the colleges in the form of instalments. Education Loan offers better interest rates than other loans like personal loans. Moreover, a student has to repay the loan amount in equated monthly instalments after having a job.
Education Loan Kolkata Courses Covered
The various courses covered are graduation, post-graduation, any professional, technical, or vocational course with the higher employment possibility accessed by the college or university ranking provided by AICTE, UGC or any other autonomous body like IIM IIT, AIMS.
Education Loan Kolkata Eligibility Criteria
- A Candidate should be an Indian resident.
- The age limit varies from 16-35 years, depending upon the bank.
- In most banks, collateral security is required for Loan more than 4 lakhs.
- The Co-Applicant required for a full-time course should be a parent or a guardian.
Education Loan Kolkata Documents/Security Required
- The student and the so-applicant should fill education Loan form.
- Qualifying Entrance Exam scorecard or mark sheet.
- Any Scholarship or Assistantship is applicable.
- Total Course fee structure provided by the college or university.
- The college or the university gives an Admission letter.
- 2 passport size photographs of the candidate.
- Pan Card of the student and the Parent/Co-Applicant applicable.
- Aadhaar Card with address proof of the student and the Parent or Co-Applicant.
- Last 6 months bank account statement of the student and parent of the co-applicant.
- Age Proof-Aadhaar card, voter id, driving license, or passport.
- Income proof- Latest salary slips of the parent/Co-applicant or Form-16
- Income Tax Returns of the last two years of parent/co-applicant.
Education Loan Kolkata Interest rate
|
Bank Name |
Interest Incurred |
Maximum Tenure offered |
|
IDBI Bank |
9.45% to 12.35% |
Maximum Tenure up to 15 years |
|
Allahabad Bank |
11.05% to 13.55% |
Maximum Tenure-15 years |
|
Axis Bank |
13.7% to 15.2% |
Tenure varies from 5-15 year s |
|
Bank of Maharashtra |
8.75% |
Up to 15 years |
|
HDFC Bank |
9.20% to 13.34% |
Varies from 10-15 years |
|
Private Bank |
11.50% |
7-10 years |
|
Oriental Bank of Commerce |
11.15% to 11.40% |
Maximum Tenure-15 years |
|
Union Bank of India |
10.60% to 11.65% |
Maximum Tenure goes up to 15 years |
|
Bank of Baroda |
11.25% to 14% |
Up to 15 Years |
|
United Bank |
10.25% to 10.35% |
Up to 15 Years |
Education Loan Kolkata Loan Amount
|
Bank Name |
Indian Student |
Foreign Student |
|
United Bank |
Max–10 lakhs |
Max-20 lakhs |
|
Union Bank of India |
Max-20 lakhs |
Max-30 lakhs |
|
IDBI Bank |
Max-20 lakhs |
Max-20 lakhs |
|
Allahabad Bank |
Max-20 Lakhs |
Max-20 Lakhs |
|
Axis Bank |
Max-20 Lakhs |
Max-40 Lakhs |
|
Bank of Maharashtra |
Max-10 Lakhs |
Max-20 Lakhs |
|
HDFC Bank |
Max-20 Lakhs |
Max-20 Lakhs |
About Kolkata
Kolkata is a city located in the Indian state of West Bengal, which is the capital of West Bengal. It is one of the oldest cities in India and is home to Calcutta Stock Exchange. It is surrounded by Rampur, Tarifa, and Indira Nagar. Kolkata has a primarily tropical wet and dry climate. The economy of Kolkata is mainly dependent on Industries and fishing. Bengali and English are the major speaking languages of Kolkata. Kolkata has situated on the banks of river Hoogly river. The annual mean temperature is 26.8 °C (80.2 °F); monthly mean temperatures are 19–30 °C (66–86 °F). Summers (March–June) are hot and humid, with temperatures in the low 30s Celsius; during dry spells, maximum temperatures often exceed 40 °C (104 °F) in May and June. Winter lasts for roughly two-and-a-half months, with seasonal lows dipping to 9–11 °C (48–52 °F) in December and January. May is the hottest month, with daily temperatures ranging from 27–37 °C (81–99 °F).
