How to get education loan after 12th in 2023

Suresh and I meet at stationary shop, and I asked him about how his education is going on, he told me that he has just completed his 12th education and waiting for results.

Then I told him what he is expecting result. He seems somehow nervous and hesitates to answer and said he is expecting like he may not get that much amount of marks so he can get admission in government colleges.

Then he told me that how I have completed my engineering is that by taking any loan or any scholarships? I told him that I completed my education by taking loan from SBI .Initially whole loan amount is sanction but after producing relevant bill and invoices time to time then the concern bank release amount accordingly to meet my education needs. And after completing my education the installments starts and I Easley paid that out of my income. Thanks to bank and that government policy.

After this conversation he seems to curious and asked me more about how we can get education loan after 12th.

There is some tips like you have to check

  1. Various bank’s and NBFC’s about their terms and policies, repayment methods and interest rates
  2. Age limit, type of education for they offer, credit score, income and need of guarantor.
  3. Collect all necessary papers i.e. identity proof, residential proof, income proof, mark-sheet school certificates etc.
  4. After applying online or offline, bank official will visit investigate your papers and your eligibility during this they may visit to your resident.
  5. After acceptance of your loan application bank may transfer the funds to the institution or account you’ve designated.
  6. After completion of your study you can repay the loan as per schedule installments.

This is all about glimpse of how we can get education loan after 12th .If anything more in this series will be update in this blog again. Thank you for reading.

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