Education Loan Mumbai
Every child needs a quality education in order to lead a complete, successful and comfortable life. Unfortunately, such education comes at a cost that not everyone who deserves it can afford. That is where education loans comes into play. Education loans are funds offered by banks and financial institutions to meritorious students to help them pursue their dream course.
Major Education Loan Providers in Mumbai
- Interest Rate 7.45% - 9.55%
- Loan Upto 1.5 Crores
- Up to 15 Years Repayment
- Processing Fee Upto 2.0%
- Loan for Abroad Studies
- Online Approval
- Interest Rate 9.50% - 13.3%
- Loan Upto 20 Lakh
- Up to 15 Years Repayment
- Processing Fee Upto 1.0%
- Loan for Abroad Studies
- Instant Online Approval
- Interest Rate 8.55% - 10.5%
- Loan Upto 40 Lakh
- Up to 15 Years Repayment
- Processing Fee Upto 15k
- Loan for Abroad Studies
- Online Approval
- Interest Rate 10% - 16.50%
- Loan Upto 25 Lakh
- Up to 10 Years Repayment
- Processing Fee Upto 2.0%
- Loan for Abroad Studies
- Online Approval
Top Institutes for Education Loan in Mumbai
- Engineering college
- Bio-technology college
- Medical college
- Pharmacy college
- Management college
- Architecture college
- Law college
- Science, Commerce, and Arts college
- Physical education college
- B.ED college
- Indian Institute of Technology
- St. Xavier’s College
- Ramnarain Ruia College
- Lala Lajpat Rai College of Commerce and Economics
- Elphinstone College
- Wilson Raj College
- Maharishi Dayanand College
- Sardar Patel College of Engineering
- Dr. D.Y. Patil Medical College
- Narsee Monjee Institute of Management Studies
- Indian Institute of Technology (IIT)
- University of Mumbai
- International Institute for Population Sciences
- SNDT Women’s University
- Padmashree Dr. D. Y. Patil Vidyapeeth
- Tata Institute of Fundamental Research
- Tata Institute of Social Sciences
- University of Petroleum and Energy Studies
- Narsee Monjee Institute of Management & Higher Studies
- Bhaba Atomic Research Centre
Courses Offered |
|
UG |
PG |
B.A |
M.A |
B.Sc |
M.Sc |
B.Com |
M.Com |
B.E, B.Tech |
M.E, M.Tech |
BDS, MBBS |
MD, MS, MDS |
B.Pharm. |
M.Pharm. |
BBA |
MBA |
LLB |
LLM |
BHM |
PG Diploma in Hotel Management |
B.Arch |
M.Arch |
Types of Expenses covered by Education Loan
Expenses Covered |
Courses Covered |
|
Studying in India |
Studying Abroad |
|
|
|
|
Documents Required for Education Loan Mumbai
One of Bank of Baroda’s most popular loan product is the education loan, for all types of education needs-school education, higher education in India, higher education overseas, executive programs in India or executive development programs abroad, whatever the case might be. Today education is a must in building a strong career and a better future of the country. The government has also supported and emphasized the need for education for all and accordingly awarded subsidies on the interest rates banks charge on education loans. Bank of Baroda understands that some financial push by means of an education loan or student loan can go a long way in helping someone achieve the better life that comes with education and good academic background. And so it offers loans for education at the most competitive rates among all banks. It has also kept the documentation process extremely simple.
When you are applying for a Bank of Baroda education loan, you simply need to make sure you have the following documents and relevant copies:
Proof of Identity
- Voter ID card
- Driving License
- Passport
- PAN Card
- Government department ID card
- Aadhar Card or Aadhar enrolment number
Proof of Income
- The parent’s latest salary slip showing all the deductions, or
- Form 16 along with latest salary certificate
- Last 2 year’s IT returns of past 2 years or
- In case of self-employed individual,
If the applicant is a Self-Employed Individual
- Balance sheet and profit and loss account, computation of income for last 2 years.
- Income Tax Returns – last 2 years for Applicants, 26 AS, Traces
- Business proof: Gomasta License, Registration Certificate, Service Tax Registration, among
- IT Assessment / Clearance Certificate, Income Tax Challans / TDS Certificate (Form 16A) / Form 26 AS for income declared in ITR.
Proof of Residence (any one)
- Valid passport
- Voter id card
- Driving license
- Postpaid utility bill (gas bill and electricity bill)
- Updated passbook or bank account statement
- Notarized registered rent agreement
Additional Documents
- Updated Passbook or bank account where the salary is credited for last 6 months at least
- Educational documents of the student:
- Copy of fee acknowledgement slip
- Admission letter to the educational institutions
- Passing certificate
- School leaving certificate
- High School Examination mark sheet
How to Apply for Education Loan Mumbai
Bajaj Finance Gold Loan can fulfil all your urgent short term and long term monetary requirements. The rate of interest that you will be charged with depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. Gold Loan interest rates offered by the Bank are lower in comparison to other loans because it is a fully secured loan.
The Gold Loan interest rates in the Bank starts at 14% per annul.
FAQs About Education Loan Mumbai
The amount of loan that a customer gets for a single gram of gold depends on the quality of the gold and the prevailing price of gold in the market.
Bajaj Finance provides Gold Loan at an attractive rate of interest and a flexible tenure for the added financial ease of the customer. The bank gives the loan for a maximum of ₹ 20 lacs at a low rate of interest depending on your loan amount and a maximum tenure of 36 months. The bank charges a low processing fee with minimal documentation and no prepayment charges.