Navi Mumbai Education Loan In India 2024- Looking to start your own business in Navi Mumbai? Or simply wanting to get ahead in your career? Then you need to learn about the Navi Mumbai education loan in India 2024. This affordable and convenient option can help you get the education you need to start or grow your business. Plus, with a Navi Mumbai education loan in India 2024, you can rest assured that you’re making the best possible decision for your future. So what are you waiting for? Learn more today.
we all know how education is an important and difficult Time for a young person. It is a process of initiation in the society. However, Last to the lack of Money support, it is one of the Large reasons of students quitting their education. Education Fund can be a solution to this problem. Education Fund is made for these purposes. This money can cover all your education loan expenses, ranging from books to accommodation and other expenses. Every Candidates in India can be an education loan Aspirants.
Navi Mumbai Education Loan In India 2024
If you’re looking for an education loan in Navi Mumbai, then you’ve come to the right place. Our team of experts can help you find the best loan options available, and they’ll answer all of your questions. In addition, we offer a wide range of education loans that are suited to your specific needs. So don’t hesitate – contact us today to learn more about Navi Mumbai education loans!
It doesn’t matter what is your college or study program, education loan Plan covers every graduation, post-graduation, and other verified programs in India. Education fund eligibility is really wide. You can apply if you study abroad, and you’ll surely get the Fund. Many banks are even offering special Plane that support female education. These Plane contain different Profit for female candidate that will improve their education Loan experience.
Navi Mumbai Education Loan In India 2024 Details
| Maximum Loan Amount | For abroad studies INR 20 Lakh For education in India – INR 10 lakhs |
| Eligibility | Should be a resident Indian Should have got a merit-based admission to a well-ranked & recognized university abroad Should have a good academic record |
| Interest Rate | 9.85% (interest rate concession for women applicants – 0.50%) 0.50% interest rate concession for Candidates pursuing professional courses |
| Margin Money | 15% |
| Category | Current Affairs |
| Official Webpage | Click here |
| Processing Fees | For education in India – NIL For abroad education – INR 5000 |
Navi Mumbai Education Loan
Education Fund is a loan that is availed by Candidates to complete their studies. Almost all Non-banking Money Companies (NBFCs) and banks offer Candidates education loans. With the expenses of education increasing, one of the best solutions is to avail an education Credit. Accommodation, cost of books, and other education-related expenses are covered by an education Fund.
Education in Navi Mumbai
Navi Mumbai has some of the most reputed colleges in the state, given education in various disciplines. Some of the well-known colleges here are listed Here:
- Dr. DY Patil Biotechnology and Bioinformatics Institute
- Yashwantrao Chavan College of Arts Commerce and Science
- Pillai College of Arts, Commerce and Science
- Sanpada College of Commerce and Technology
- Karmaveer Bhaurao Patil College
- Western College of Commerce and Business Management
- College of Computer Science and Information Technology
Banks offering education loans in Navi Mumbai
| Bank | Interest Rate (per annum) | Tenure | Margin |
| State Bank of India | 10.55% – 10.80% | Return must start one year after the course is completed and must be done within 15 years from the time of completion of the course. | If the Fund amount is less than Rs.4 lakh, no margin is charged. If the Fund amount is above Rs.4 lakh, a 5% margin is levied for studies in India and a 15% margin is levied for studies abroad |
| ICICI Bank | Starts from 11.5% | Return can range from 5 years to 10 years from the time the course has been completed. | Up to Rs.20 lakh, no margin is charged. Above Rs.20 lakh, a 15% margin is levied. |
| HDFC Bank | 9.20% to 13.64% | Return can range from 10 years to 15 years depending on the loan amount. | – |
| Axis Bank | 13.7% to 15.2% | Return on the loan amount, the duration can be between 10 years or 15 years. | 5% and 15% margins are charged when the Fund amount is greater than Rs.4 lakh and it is used for studies in India and abroad, respectively. |
| Dena Bank | 8.80% to 10.35% | ||
| Union Bank of India | 8.60% to 11.75% | Can be a maximum of 15 years. | If the Fund amount is more than Rs.4 lakh, the margin charged for studies in India and abroad are 5% and 15%, respectively. |
| Bank of Maharashtra | 8.75% to 9.75% | Must be Return back by 15 years. | 5% and 15% are the margin charges for studies in India and abroad for a Fund amount of more than Rs.4 lakh. |
Eligible Courses for India Education Fund in Navi Mumbai
For studies in India
- Approved courses leading to graduate PG degree and P G diplomas conducted by recognized colleges universities recognized by UGC Govt.
- Courses like I.C.W.A., C.A., C.F.A., etc.
- Courses Taken by IIMs, IITs, IISc, XLRI, NIFT, NID etc.
- Approved courses offered in India by reputed foreign universities.
- Regular Degree Diploma courses like Aeronautical, pilot training, shipping, degree diploma in nursing or Many other discipline. approved by Director General of Civil Aviation Shipping Indian Nursing.
- Take by Head Office and included in approved educational institutions list.
For studies abroad
- Graduation: For job-oriented professional technical courses Taken by reputed universities. (Diploma Certification courses are not permissible)
- Post Graduation: Courses like MCA, MBA, MS etc.
- Courses Taken by CIMA-London, CPA in USA etc.
- Degree | Diploma: Courses like Aeronautical, Pilot training, and Shipping etc. Given these are recognized by competent regulatory bodies in India| abroad for the purpose of employment in India and abroad.
Eligibility Criteria State Bank Of India Education Loan in Navi Mumbai
- Candidates must be an Indian citizen.
- Candidates must have secured an admission into a college or university recognized by a competent authority in India or abroad.
- Candidates must have completed schooling up to higher secondary level.
- There is no restriction on the upper age limit as per Reserve Bank of India (RBI) guidelines, still bank may have maximum age criteria.
Expenses and courses that are covered by an education loan
Expenses such as course Cost, examination fees, hostel fees, uniform, equipment, and purchase of books are covered under an education Fund. For professional/technical courses, post-graduation courses, and graduation courses in India that provide scope of employment in the future, education Fund are Given. However, the study should be in a college or university that is Taken by UGC, AICTE, IIT, IIM, etc.
How to apply for an education loan in Navi Mumbai?
It is very Simple to apply for an education loan in Navi Mumbai. An education Fund can be applied both offline and online.
Online: You will be able to apply for an education Fund directly on the bank’s website Click Here. You must submit your personal and contact Information and an executive from the bank will contact you to help process the loan. In case you already have an account with the bank, based on your credit history you might get instant approval.
Offline: You will have to Go To the bank branch and meet an executive if you want to apply for an education Fund. The application form and all Needs documents must be submitted at the bank. Once the verification of the documents is Ready, the education Fund will be approved.
Also Read-Axis Bank Personal Loan Status 2024
Documents Required India Education Loan in Navi Mumbai
For salaried individuals
- Duly filled up and signed education Fund application form along with photographs.
- KYC (Know Your Customer)documents.
- Proof of identity: Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card.
- Latest salary slip showing all deductions or Form 16 along with recent salary Proof.
- Proof of Address Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement.
- Bank Statement or Bank Pass Book of having entries of last 6 months.
- Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional).
- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional).
- Detailed break-up of the costs of the course (Optional).
For all individuals except salaried
- Duly Enter up and signed education Fund application form along with photographs
- KYC (Know Your Customer)documents
- IT returns of the last 2 years and computation of income of Pervious 2 years certified by a Chartered Accountant
- Proof of identity: Passport, Voter ID card, DL, PAN card, Aadhar Card, Government department ID card
- Proof of residence Bank account statement, Latest electricity bill, Latest mobile/telephone bill, New credit card statement, Existing house lease agreement
- Bank Statement or Bank Pass Book of having Fill Up of last 6 months
- Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
- Information break-up of the costs of the course (Optional)
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Bank Of India Education Loan In India 2024