State Bank of India-
The state bank offers many loans to students who want to pursue higher education. Students for school and graduate courses in India can take upto six times the monthly income of their parents or gaurdian. The loan can be a minimum of Rs 400 extebding upto 0ne lakh. Students for specialized/technical/professional post graduate courses can take upto 90 percent of the cost subject to a maximum of Rs 5 lakh with the margin being 10 percent.
The loan is to be repaid in a period of six months commencing a month after disbursal by the parebt/guardian of his/her income. For technical/specialized/professional studies in India, the loan is to be repaid in a minimum period of 60 months after the completion of courses or securing a job.
Bank of Baroda-
Loans are offered for all certificate/diploma/graduate courses recognized by state/central government universities and management courses approved by the All India Council for Technical Education. The amount of loan for technical/certificate courses is upto Rs 50,000 and that for guardian courses Rs 75,000.
The guarantee of parent/guardian is sufficient for loans upto Rs 25,000; for loans above Rs 25,000, a third person guarantee acceptable by the bank is adequate along with the guarantee of the parent/guardian.
Canara Bank-
Loans are offered for all graduate and post graduate courses. The repayment starts six months after the course or whenever the job starts.
For loans upto Rs one lakh, co-obligation is required amd for loans beyond one lakh, collateral security of property and other approved securities whose value is equal to loan amount is required.
Central Bank of India-
The bank offers loans for general/professional courses that include computer and vocational courses recognized by the government. Loans upto Rs 7.5 lakhs are offered under the centvidyarthi finance for educational scheme.
The loan has to be repaid within seven years.
Similarly, Indian Overseas Bank and Dena Bank also offer student loans. For more information, sites of these baks can be referred.
