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    Does SBI provide education loan to IIPM admitted students?

    what sbi give the loan of iipm ugc approved college

  2. #2
    sudha001 is offline Senior Member sudha001 is on a distinguished road
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    Re: Does SBI provide education loan to IIPM admitted students?

    Hello,

    SBI do provides education loan in competence to any recognized institute . But for getting Education loan you need to satisfy following

    requirement of Bank , and these are as follows
    :

    To be eligible for loan, you should be an Indian resident having secured admission in any of the bank's list of approved course or universities.


    Steps to follow before filling out loan application form:


    STEP 1. Check if your course or institute is recognized by the bank.


    STEP 2. Figure out how much loan you would require.
    Roughly estimate your expenditures. Discuss with your family how much they can afford and the amount you would require to take as loan.


    STEP 3. Search out various loan options.


    STEP 4. Compare the different options and find out the optimum one.


    Important Documents required for Loan Application.
    • Completed Education Loan Application Form.
    • Mark sheets of last qualifying examination
    • Proof of admission scholarship, studentship etc
    • Schedule of expenses for the specified course
    • 2 passport size photographs
    • Borrower's Bank account statement for the last six months
    • Income tax assessment order, of last 2 years
    • Brief statement of assets and liabilities, of the Co-borrower
    • Proof of Income (i.e. Salary slips/ Form 16 etc)
    • Important things that bank scrutinize before granting loan:
    • The repayment capacity of the student's parents/family/Sponsor.
    The value of Collateral Security. Bank usually got the valuation of the collateral done from an approved Valuator only then process the loan application.


    Margin money: Usually in case of Overseas education loan the student family to contribute some margin money, usually its 25%. For example if a student is applying for

    Rs. 20 Lakh loan and the margin money is 25% then Rs.5 lakhs has to be contributed by Student's Family.



    HOPE IT HELPS ..
    GOOD LUCK !

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