Education finances are boon for people who want to do higher
studies but could not afford it. Education Loan in India is provided by
banks and financial institutions and covers fee for all years, which is
normally disbursed to the college/institute directly by the bank. The
finance amount also covers most of the boarding and lodging expenses.
Here are answers to questions that boggle one’s mind before taking an
What are the eligibility criteria?
The person taking the loan should have secured admission in the
institute. The institute or course of study must be recognized by
UGC/AICTE/AIBMS/ICMR, etc. The person needs to be an Indian citizen and
should be 17 years old or above.
What are the courses covered?
Education Loan in India is available for all approved courses leading
to Graduate/Post Graduate Degree and PG Diploma conducted by recognized
colleges/universities recognized by UGC/AICTE/AIBMS/ICMR, etc. Education
Loan is also available for part time courses and job oriented courses
subject to employability and earning potential. An education loan for
study abroad is also available for job oriented professional/technical
courses offered by reputed universities.
What are the expenses covered?
The amount is provided to meet all type of expenses which are necessary
for completion of course that includes purchase of books, equipments,
computer, travelling, study tours, boarding, lodging besides all types
What are Documents required?
Documents like age proof, address proof, proof of clearing last
qualification, prospectus of course, letter of admission, income proof
of parents or guardians, etc are mandatory to be submitted even before
the bank considers the loan application. The bank will verify the
enrollment of the student from the concerned institute. One may also
require collateral security such as papers relating to property to be
mortgaged if the loan amount is above Rs. 4 lakh.
Some banks or financial institutions require all or any of the following documents as pre sanction documents:
What is moratorium period or holiday period?
It is the maximum time given to the student after finishing studies
that go without catering any payments for your loan. Mostly, it range
from 6 to 12 months.
What is the repayment tenure?
The repayment tenure depends on the amount of loan taken and type of
course. The minimum time given to repay the loan is 1 years and maximum
is 10 years.
Why guarantor is mandatory?
The guarantor could be an applicant’s parents or guardians who take the
responsibility for the repayment of loan in case of any mishap. The
bank will go through the guarantor’s credit history and also verify the
same before sanctioning the loan.
Is there any tax benefit?
The moment a person start repaying the education loan, he/she can
deduct the interest amount from the total income while calculating tax.
This means the effective interest rate on the loan works out to a lower
Each of one from us not so lucky to having saved money in our bank accounts, mostly the salary class ,unemployed or job-less and senior citizen usually face hurdles in most of the phases when they seek of financial help in their financial emergencys. However one has to select the best providers from the financial market. Various lenders nowadays are now providing cheap unsecured loans. This service is also for those non-home owners, persons who are jobless and especially for those who are surviving on government aid such as pensions. Because theses borrowers are actually not have anything to offer as collateral against loan amount. Examine this entire 12 month loans offer a new loan schemes named as 12 month loans for pensioners.
For availing these loans the borrower isn’t necessary to demonstrate a property, land, car or jewelry as collateral so that the loan is of risk free. The borrower will be granted with a small amount for the shorter repayment period of around 12 month or a full year. Try to avail an unsecured loan having comparatively low interest rate. Firstly compare several number of unsecured debt providers through the internet. Through the help of online loan assistance companies, who are associated with the money lenders? Then choose among the best which suits you. Various providers have low interest rate for the borrower’s requirement. The loan usually depends on the good credit record of the borrower. If you have a good record, lenders may offer you with low interest rate. The 12 month loans for pensioners depends on the amount, the borrower intend to borrow.
There are totally online feature that will guide you through all the process of your loan safety measures. A borrower is all the way qualified for this 12 month loans for pensioners, therefore to receive the profits of these loans you only need to fill up an straightforward application form along with the necessary infos such as your residential address proof, an ID proof, contact number, and some additional details as condition applied by the lender. Your general details will be work as you security, which is verified by the lender companies and after that the sanctioned amount will be delivery to you.
The jumbo loan market is the only bright spot in an otherwise shrinking mortgage market, and an Atlanta company that specializes in refinancing and purchasing of homes believes those dreaming of buying their own home should take advantage of the favorable market conditions. Christensen Financial, Inc., an Atlanta-based company that lends to those dreaming of buying their own homes or refinancing their properties, says that a lot of financial institutions are now relaxing their rules in order to cater to well-off borrowers. It cites that even the big banks in America are stepping up efforts to get more affluent borrowers, while keeping their credit rules tight for other customers. These banks are allowing assets in accounts of their borrowers to serve as collateral, reducing rates for customers with investment accounts, and even accepting lower down payments. In 2014, applications for jumbo loans rose by 4.9 percent, proof that more borrowers are cashing in on the relaxed rules of banks on this type of financing. Jumbo loans are available only to creditworthy borrowers with an average FICO score of 760. Christensen Financial, Inc. advises families and individuals to apply for jumbo loans, or those with a minimum amount of $417,000, so they can buy their dream properties. The firm says home owners in Atlanta and nearby areas wanting to apply for a jumbo loan can visit its website where they can get free quotes and even start their jumbo loan application. About Christensen Financial Christensen Financial is a mortgage company for people looking to buy or refinance their homes. It is backed by a team of highly skilled and experienced mortgage professionals. For more information, please visit www.jumboloanmortgages.net. Contact Details Lynnette L. Collins947 Courtright Street Balta, ND 58368
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