Yes Bank Education Loan Summary Table
| Yes Bank Education Loan Amount | For India – INR 10 Lakhs For Abroad – 20 Lakhs (Up to ₹ 7.5 lakh without collateral) |
| Yes Bank Education Loan Interest Rate | 12% per annum |
| Yes Bank Education Loan Margin | For loan above INR 4 Lakhs In India: 5% In abroad: 15% |
| Yes Bank Education Loan Processing Fee | 1% |
| Yes Bank Education Loan Security | Up to 7.50 Lakhs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee
Above INR 7.50 Lacs: Tangible security along with parents as co-borrower |
| Yes Bank Education Loan Repayment | Starts After 1 year of course completion or 6 months after getting the job |
Yes Bank Education Loan Features
- Amount of Loan
- for studying in INDIA: maximum Rs.10 lakh
- for studying ABROAD: maximum Rs.20 lakh
- Collateral security for availing of an education loan
- For Loans up to INR 7.5 Lakh – NO – Nil Collateral nor Third-Party Guarantee
- For Loans Above INR 7.5 Lakh – Yes, Any of the following collaterals: Residential Property, Yes Bank Bank Fixed Deposit, LIC/NSC/KVP
- Loan available up to tenure of 7 years, including moratorium period.
- Repayment to start 1 year after course completion / 6 months after obtaining employment (whichever is earlier).
- Loans are available for short duration/ job oriented courses also.
- Avail the tax rebate, offered under section 80-E of the Income Tax Act 1961 for the entire interest amount paid towards your education loan.
Yes Bank Education Loan Eligibility Criteria
Parameters |
Eligibility Criteria |
Applicant’s Age |
|
Who Can Apply? |
|
Maximum Loan Amount |
|
Frequency Of Repayment |
|
Repayment Period |
|
Yes Bank Education Loan Interest Rates
| Scheme | Maximum Loan Amount | Interest rate (p.a.) |
| Yes Bank’s Education Loan for Indian | Up to Rs.20 lakh | 9.55% – 13.25% |
| Education loan for Foreign Education | No Upper limit | 9.55% – 13.25% |
Yes Bank Education Loan Schemes with Detailed Features, Docs, Max Loan, Courses
| Schemes | Maximum Loan Amount | Interest Rates |
| Yes Bank Student Loan | Rs.20 lakh | 10.05% |
| Yes Bank Scholar Loan | Rs.40 lakh | 8.95% to 9.25% |
| Yes Bank Global ED-Vantage | Rs.1.5 crore | 10.05% |
| Yes Bank Skill Loan | Rs.1.5 lakh | 9.55% |
| Yes Bank Take Over of Education Loan | Rs.1.5 crore | 10.05% |
Yes Bank Education Loan Documents Required
Under Know Your Customer Policy (KYC), the bank requires certain documents. These documents are required from both the student and co-borrower:
Identity Proof |
One of any mentioned documents for Identity proof:
|
Residence Proof |
One of the following documents for Residence proof (It should not more than 3 months old):
|
Income Proof in case of salaried co-borrower |
|
Income proof for self-employed co-applicant |
|
Additional documents:
Aside from KYC documents:
Student Applicant |
Mandatory Passport submission |
| Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that formed the basis of admission | |
| Proof of admission: A conditional application letter may be considered | |
| Cost of education, schedule of expenses. | |
| 2-passport size photographs | |
| If the loan was taken out before then, loan account statement for the last 1 year. | |
Co-applicant |
2-passport size photographs |
| If the loan was taken before, the account statement for the last 1 year. |
EMI Calculator
You can check the EMI for Yes Bank education loans by clicking on EMI Calculator.
Yes Bank: Takeover of Education Loan
An Education Loan is Transferable, it is basically a process of transferring high-interest debt from one to a lender and with a lower interest rate and better repayment policies.
The Yes Bank Takeover Of Collateralised Education Loans Scheme can be availed at an interest rate of 1Year MCLR + 1.50% spread. Yes Bank also gives a 0.50% concession in the interest rate for girls.
How To Apply For Yes Bank Education Loan
- Visit Dialabank for an education loan.
- Go to the Yes Bank Education Loan page.
- Check out all the eligibility and documents criteria for an education loan.
- Fill out all the details required in the Education Loan application form.
- Once done, our representative will soon contact you for a further stress-free process.
List of Approved Institutes
- Architecture college
- Law college
- Medical college
- Pharmacy college
- Engineering college
- Bio-technology
- college
- Management college
- Science, Commerce, and Arts college
- Physical education college
- B.ED college
FAQs For Yes Bank Education Loan
✅ How is the EMI calculated for an Education Loan?
The EMI on your education loan can be calculated with the help of this mathematical formula: EMI amount = [P x R x (1+R)^N]/[(1+R)^N-1] where P, R, and N are the variables. As EMIs are paid off every month, the duration is calculated for the number of remaining months.
✅ Is a guarantor required for an Education Loan?
Since the student who is taking the education loan can’t pay it off until he gets a job, the bank usually takes the parent or guardian as the guarantor. The bank also verifies the CIBIL score and the credit history of the guarantor before giving the loan to the student.
