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Discuss-Education-Loans

#Discuss-Education-Loans

Neeraj Saxena, CEO of Avanse Education Loans will answer your queries between 3 pm and 4 pm today.
74 posts so far
19 others are following
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A

ATULG

I am take home loan from Axis Bank now I want top up loan of 3 Lacs but the processing charges for it require 15000/- ROI 10.25, repayment in 15 yrs and on the other hand Central Bank of India giving me personal loan with Rs. 500/- as processing fee, ROI 13% repayment is 4 yrs , Please suggest which loan is preferable ?

I am take home loan from Axis Bank now I want top up loan of 3 Lacs but the processing charges for it require 15000/- ROI 10.25, repayment in 15 yrs and on the other hand Central Bank of India giving me personal loan with Rs. 500/- as processing fee, ROI 13% repayment is 4 yrs , Please suggest which loan is preferable ? #Discuss-Education-Loans
Posted : 3 months ago
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R

Raj

Hi ,I want avail Education Loan for my Daughter which are the best banks for Education Loans. If I take Education loan from Private Banks or Financial Institutions like Avanse Can I claim the tax rebate .Will Financial Institutions or Avanse provide the loans for the capitation fees as well.

Hi ,I want avail Education Loan for my Daughter which are the best banks for Education Loans. If I take Education loan from Private Banks or Financial Institutions like Avanse Can I claim the tax rebate .Will Financial Institutions or Avanse provide the loans for the capitation fees as well. #Discuss-Education-Loans
Posted : 2 months ago
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C

coolhome

When I applied for education loan for my son,at the bank they said hostel and mess payments can not be covered under the loan. Is it true? If not ,where do I find the rules?

When I applied for education loan for my son,at the bank they said hostel and mess payments can not be covered under the loan. Is it true? If not ,where do I find the rules? #Discuss-Education-Loans
Posted : 2 months ago
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VK

vijaya kamarthi

Hello Sir, I am availing an Education loan for my son's MS Prog. in Germany with SBI. They are insisting me to pay interest until my son takes over the loan repayment. Can I expect a 3 year moratorium period on this loan?

Hello Sir, I am availing an Education loan for my son's MS Prog. in Germany with SBI. They are insisting me to pay interest until my son takes over the loan repayment. Can I expect a 3 year moratorium period on this loan? #Discuss-Education-Loans
Posted : 2 months ago
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NS

Neeraj Saxena

Good luck with your higher education. For your specific information needs, you can write to Avanse on response@avanse.com. Neeraj

Good luck with your higher education. For your specific information needs, you can write to Avanse on response@avanse.com. Neeraj #Discuss-Education-Loans
Posted : 2 months ago
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A

adil

What are the prepayment charges at SBI?

What are the prepayment charges at SBI? #Discuss-Education-Loans
Posted : 2 months ago
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JS

Jose Samson

Hi Sir, Do I have to have the collateral property value as 100% of the loan amount? Other leading lenders only ask for about 60% of the loan amount

Hi Sir, Do I have to have the collateral property value as 100% of the loan amount? Other leading lenders only ask for about 60% of the loan amount #Discuss-Education-Loans
Posted : 2 months ago
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NS

Neeraj Saxena

Good afternoon everybody! It is nice to e-meet you all and happy to answer your queries. Neeraj Saxena

Good afternoon everybody! It is nice to e-meet you all and happy to answer your queries. Neeraj Saxena #Discuss-Education-Loans
Posted : 2 months ago
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N

neetasinha

I scored 53 per cent in BCom and would like to apply for an education loan to do my masters. Am i eligible?

I scored 53 per cent in BCom and would like to apply for an education loan to do my masters. Am i eligible? #Discuss-Education-Loans
Posted : 2 months ago
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AC

Amol chille

Dear sir, my dad retired six months ago. Can I still show my dad's bank statement while applying for education loan?

Dear sir, my dad retired six months ago. Can I still show my dad's bank statement while applying for education loan? #Discuss-Education-Loans
Posted : 2 months ago
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A

ATULG

I am take home loan from Axis Bank now I want top up loan of 3 Lacs but the processing charges for it require 15000/- ROI 10.25, repayment in 15 yrs and on the other hand Central Bank of India giving me personal loan with Rs. 500/- as processing fee, ROI 13% repayment is 4 yrs , Please suggest which loan is preferable ?

I am take home loan from Axis Bank now I want top up loan of 3 Lacs but the processing charges for it require 15000/- ROI 10.25, repayment in 15 yrs and on the other hand Central Bank of India giving me personal loan with Rs. 500/- as processing fee, ROI 13% repayment is 4 yrs , Please suggest which loan is preferable ? #Discuss-Education-Loans
Posted : 3 months ago
NS

Neeraj Saxena Are you exploring a top up on your home loan to fund your education? Pl clarify the same.

Are you exploring a top up on your home loan to fund your education? Pl clarify the same.
2 months ago 
A

ATULG Yes, for education. Thanks

Yes, for education. Thanks
3 months ago 
R

Raj

Hi ,I want avail Education Loan for my Daughter which are the best banks for Education Loans. If I take Education loan from Private Banks or Financial Institutions like Avanse Can I claim the tax rebate .Will Financial Institutions or Avanse provide the loans for the capitation fees as well.

Hi ,I want avail Education Loan for my Daughter which are the best banks for Education Loans. If I take Education loan from Private Banks or Financial Institutions like Avanse Can I claim the tax rebate .Will Financial Institutions or Avanse provide the loans for the capitation fees as well. #Discuss-Education-Loans
Posted : 2 months ago
NS

Neeraj Saxena Hi Raj, Education finance players like Avanse do offer funding for all fees relating to course including capitation fees. It would also be heartening for you to know that we also consider funding for living expenses. As for other details on the loan process and benefits, do call us on 1800 222 301 and we shall be glad to assist you.

Hi Raj, Education finance players like Avanse do offer funding for all fees relating to course including capitation fees. It would also be heartening for you to know that we also consider funding for living expenses. As for other details on the loan process and benefits, do call us on 1800 222 301 and we shall be glad to assist you.
2 months ago 
R

Raj Hi Sir ,Thanks for the Info , I have LIC Jeevan Saral Policy of 12Lacs Approx . Can I Mortgage it with your company for Education Loan.

Hi Sir ,Thanks for the Info , I have LIC Jeevan Saral Policy of 12Lacs Approx . Can I Mortgage it with your company for Education Loan.
2 months ago 
A

adil

What are the prepayment charges at SBI?

What are the prepayment charges at SBI? #Discuss-Education-Loans
Posted : 2 months ago
NS

Neeraj Saxena I would suggest you check with SBI on the prepaymet charges. Every financial institution follows a different structure of prepayment charges.

I would suggest you check with SBI on the prepaymet charges. Every financial institution follows a different structure of prepayment charges.
2 months ago 
JS

Jose Samson

Hi Sir, Do I have to have the collateral property value as 100% of the loan amount? Other leading lenders only ask for about 60% of the loan amount

Hi Sir, Do I have to have the collateral property value as 100% of the loan amount? Other leading lenders only ask for about 60% of the loan amount #Discuss-Education-Loans
Posted : 2 months ago
NS

Neeraj Saxena At Avanse, we shall be ok to looking at a lesser collateral value, basis the merit of the case. If you have a great credit history and academic background, we could look at collateral value being less than the loan amount.

At Avanse, we shall be ok to looking at a lesser collateral value, basis the merit of the case. If you have a great credit history and academic background, we could look at collateral value being less than the loan amount.
2 months ago 
NS

Neeraj Saxena

Good afternoon everybody! It is nice to e-meet you all and happy to answer your queries. Neeraj Saxena

Good afternoon everybody! It is nice to e-meet you all and happy to answer your queries. Neeraj Saxena #Discuss-Education-Loans
  (4 replies ) View more
Posted : 2 months ago
P

phani I am planning to take a edu. loan to pursue my PGPEM 2014-2016 as I got an admission offer at one of the B-schools which is having a Tie- up with Avanse. However,i have few hurdles to get one.Could you please help me on this?

I am planning to take a edu. loan to pursue my PGPEM 2014-2016 as I got an admission offer at one of the B-schools which is having a Tie- up with Avanse. However,i have few hurdles to get one.Could you please help me on this?
2 months ago 
P

phani 1.I don't have moratorium period option and when I asked the executives,they have said that there is no such concept exists @ Avanse.If that is the case then only people who are good at financial state will be eligible but not for the people who doesn't have any financial backup i.e.,, they will not be able to pay the monthly EMI's during the course.

1.I don't have moratorium period option and when I asked the executives,they have said that there is no such concept exists @ Avanse.If that is the case then only people who are good at financial state will be eligible but not for the people who doesn't have any financial backup i.e.,, they will not be able to pay the monthly EMI's during the course.
2 months ago 
P

phani If the student is able to pay off 25k as an EMI every month then y there would be a point of approaching the banks for loans.Could you please suggest me any other alternate way to get the edu.loans from Avanse so that I can pay my EMI's once I am done with my course.

If the student is able to pay off 25k as an EMI every month then y there would be a point of approaching the banks for loans.Could you please suggest me any other alternate way to get the edu.loans from Avanse so that I can pay my EMI's once I am done with my course.
2 months ago 
AC

Amol chille

Dear sir, my dad retired six months ago. Can I still show my dad's bank statement while applying for education loan?

Dear sir, my dad retired six months ago. Can I still show my dad's bank statement while applying for education loan? #Discuss-Education-Loans
Posted : 2 months ago
NS

Neeraj Saxena Hi Amol, You could show your dad's bank statements provided there is an income source reflecting in the account. For example, pension income. This is important to discern eligibility. Alternatively, you could have another earning member of the family as a co-borrower.

Hi Amol, You could show your dad's bank statements provided there is an income source reflecting in the account. For example, pension income. This is important to discern eligibility. Alternatively, you could have another earning member of the family as a co-borrower.
2 months ago 
SP

Satish Pulli

What collateral do banks ask while applying for education loan?

What collateral do banks ask while applying for education loan? #Discuss-Education-Loans
Posted : 2 months ago
NS

Neeraj Saxena Hi Satish, Immovable property documents, lien marked FDs and life insurance policies etc. could be used as collaterals for applying for education loans.

Hi Satish, Immovable property documents, lien marked FDs and life insurance policies etc. could be used as collaterals for applying for education loans.
2 months ago 
DB

Deepa Bist

What is the best way of taking educational loan for foreign studies.

What is the best way of taking educational loan for foreign studies. #Discuss-Education-Loans
Posted : 2 months ago
NS

Neeraj Saxena Hi Deepa, Can you elaborate what your exact query is? Do you wish to know about the process of availing an education loan?

Hi Deepa, Can you elaborate what your exact query is? Do you wish to know about the process of availing an education loan?
2 months ago 
AS

amandeep sahani

i am a looking for abroad studies ... which loan should i prefer

i am a looking for abroad studies ... which loan should i prefer #Discuss-Education-Loans
Posted : 4 months ago
NS

Neeraj Saxena It is important for you to decide your course and country first. Thereafter, you can visit us at Avanse, and we can discuss the loan proposal.

It is important for you to decide your course and country first. Thereafter, you can visit us at Avanse, and we can discuss the loan proposal.
4 months ago 
D

dinesh

What are the possible reasons for loan rejection?

What are the possible reasons for loan rejection? #Discuss-Education-Loans
Posted : 4 months ago
NS

Neeraj Saxena Bad CIBIL / credit history is the primary reason for loan rejection. However, there are other reasons as well including - co borrower not meeting financial eligibility, collateral property not being legally clear, etc.

Bad CIBIL / credit history is the primary reason for loan rejection. However, there are other reasons as well including - co borrower not meeting financial eligibility, collateral property not being legally clear, etc.
4 months ago 
A

appa

Can you tell me which courses are not covered under education loan? Is there a way to find out?

Can you tell me which courses are not covered under education loan? Is there a way to find out? #Discuss-Education-Loans
Posted : 4 months ago
NS

Neeraj Saxena This depends on the lending institutions' policy. Most banks only lend to AICTE / UGC approved colleges. At Avanse, we consider loans for all types of courses and institutions and ascertain loan eligibility basis the quality of the course and future employment prospects.

This depends on the lending institutions' policy. Most banks only lend to AICTE / UGC approved colleges. At Avanse, we consider loans for all types of courses and institutions and ascertain loan eligibility basis the quality of the course and future employment prospects.
4 months ago 
RL

Rashmi Lokar

Do banks cover hostel/ accomodation charges also as part of loan?

Do banks cover hostel/ accomodation charges also as part of loan? #Discuss-Education-Loans
Posted : 4 months ago
NS

Neeraj Saxena At Avanse, our education loans cover every expense associated with your academic programme including accommodation and living expenses.

At Avanse, our education loans cover every expense associated with your academic programme including accommodation and living expenses.
4 months ago 
H

hardik

How much time does it take for a loan to process?

How much time does it take for a loan to process? #Discuss-Education-Loans
Posted : 4 months ago
NS

Neeraj Saxena At Avanse, we can have a loan processed in 4 days provided all your necessary documents are submitted to us.

At Avanse, we can have a loan processed in 4 days provided all your necessary documents are submitted to us.
4 months ago 
R

romil

Between public and private banks, which offer the best interest rate for education loan?

Between public and private banks, which offer the best interest rate for education loan? #Discuss-Education-Loans
Posted : 4 months ago
NS

Neeraj Saxena Apart from one or two scholar loan schemes offered by specific banks, private institutions offer equally competitive interest rates.

Apart from one or two scholar loan schemes offered by specific banks, private institutions offer equally competitive interest rates.
4 months ago 
M

mustafa

What is the process to apply a study abroad loan?

What is the process to apply a study abroad loan? #Discuss-Education-Loans
Posted : 4 months ago
NS

Neeraj Saxena For processing a study abroad loan, you need to have your and your co borrower's KYC (Know Your Customer) documents, your academic records and the co-borrower's financial documents. Pl visit us with all these documents or you may speak to us on 1800 222 301.

For processing a study abroad loan, you need to have your and your co borrower's KYC (Know Your Customer) documents, your academic records and the co-borrower's financial documents. Pl visit us with all these documents or you may speak to us on 1800 222 301.
4 months ago 
K

kaushal

Sir do banks check parents' CIBIL score before granting loan? I already have a home loan of 15 lakhs. Will my son get an education loan of 20 lakhs?

Sir do banks check parents' CIBIL score before granting loan? I already have a home loan of 15 lakhs. Will my son get an education loan of 20 lakhs? #Discuss-Education-Loans
Posted : 4 months ago
NS

Neeraj Saxena Yes, CIBIL scores are checked for any loan processing. You getting a further loan depends on your income and current obligations. This can be assessed. Pl visit Avanse with your financial documents.

Yes, CIBIL scores are checked for any loan processing. You getting a further loan depends on your income and current obligations. This can be assessed. Pl visit Avanse with your financial documents.
4 months ago 
J

janu

which is the better options federal loans or private loans

which is the better options federal loans or private loans #Discuss-Education-Loans
Posted : 4 months ago
NS

Neeraj Saxena Federal loans are more a US concept whereby a US citizen can avail of education loans directly from the Government. In India, you will need to approach a bank of a private education loans provider for your funding needs.

Federal loans are more a US concept whereby a US citizen can avail of education loans directly from the Government. In India, you will need to approach a bank of a private education loans provider for your funding needs.
4 months ago 
PK

Panse Kaisare

What is the eligibility criterion for engineering loan in India?

What is the eligibility criterion for engineering loan in India? #Discuss-Education-Loans
Posted : 5 months ago  Last updated : 4 months ago
NS

Neeraj Saxena Engineering is like any other academic programme in as far as education loans is considered. Loan eligibility differs with each case. I would advice that you talk to us for your specific requirement on 1800 222 301.

Engineering is like any other academic programme in as far as education loans is considered. Loan eligibility differs with each case. I would advice that you talk to us for your specific requirement on 1800 222 301.
4 months ago 
GD

Gunjal dhage

What is the maximum amount of loan you can get for international studies?

What is the maximum amount of loan you can get for international studies? #Discuss-Education-Loans
Posted : 5 months ago  Last updated : 4 months ago
NS

Neeraj Saxena At Avanse, there is no upper limit on the loan value. However, your loan eligibility depends on several factors including your academic performance, choice of course, co borrower etc.

At Avanse, there is no upper limit on the loan value. However, your loan eligibility depends on several factors including your academic performance, choice of course, co borrower etc.
4 months ago 
R

rakesh

I had taken an education loan of 5 lakhs from Indian Overseas Bank 3 yrs ago for my engineering. My dad is paying the interest for the same. Can I take an additional loan to complete my MBA and repay them together?

I had taken an education loan of 5 lakhs from Indian Overseas Bank 3 yrs ago for my engineering. My dad is paying the interest for the same. Can I take an additional loan to complete my MBA and repay them together? #Discuss-Education-Loans
Posted : 4 months ago
NS

Neeraj Saxena It is possible for you to take loans separately for two different courses. On repayment, the terms may differ from product to product and on the lending institution as well. However, do bear in mind that the current education loan EMI will be considered to check you eligibility for the new loan.

It is possible for you to take loans separately for two different courses. On repayment, the terms may differ from product to product and on the lending institution as well. However, do bear in mind that the current education loan EMI will be considered to check you eligibility for the new loan.
4 months ago 
CM

chandekar muley

Last year I had applied for a loan to pursue PG in design and animation. The course fee was 15 lakhs. It was declined because the institute was a private one. Where can I get the list of approved private institutes in India?

Last year I had applied for a loan to pursue PG in design and animation. The course fee was 15 lakhs. It was declined because the institute was a private one. Where can I get the list of approved private institutes in India? #Discuss-Education-Loans
Posted : 5 months ago  Last updated : 4 months ago
NS

Neeraj Saxena At Avanse, private or government institutions is not a criteria. What matters is the course opted for and the kind of career progression it offers to the student, to be eligible for a loan with us. Contact us on 1800222301.

At Avanse, private or government institutions is not a criteria. What matters is the course opted for and the kind of career progression it offers to the student, to be eligible for a loan with us. Contact us on 1800222301.
4 months ago 
JK

Jaykar Kajale

Do I need to produce a copy of my admission while applying for a loan? Or can I apply in advance? I want to be sure whether I am eligible for a loan before applying to the college. Pls advice

Do I need to produce a copy of my admission while applying for a loan? Or can I apply in advance? I want to be sure whether I am eligible for a loan before applying to the college. Pls advice #Discuss-Education-Loans
Posted : 5 months ago  Last updated : 4 months ago
NS

Neeraj Saxena Both options are possible, though the rate of interest of the education loan will be ascertained once the college admission is finalised. The loan value eligibility can be evaluated before the admission process.

Both options are possible, though the rate of interest of the education loan will be ascertained once the college admission is finalised. The loan value eligibility can be evaluated before the admission process.
4 months ago