Quick Answer: Can I Get 20 Lakhs Education Loan?

How much education loan can I get?

Presently, the banks do not ask for any collateral or third-party guarantee for loan up to Rs 4 lakh.

For loans above Rs 4 lakh up to Rs 7.5 lakh, a third-party guarantee is required.

A collateral is asked for loan exceeding Rs 7.5 lakh..

How is EMI calculated for education loan?

Step 1: Enter the principal amount for education loan that you wish to borrow from the lender. Step 2: In the next section, you need to input the interest rate that has been offered to you for the education loan. Step 3: In the last section, you will have to enter the loan tenure that you would like opt for.

How much loan can I get on 35000 salary?

If you are taking a home loan for 35,000 salary, you can get a maximum loan amount of Rs. 20,16,481 at say an 8.5% interest rate for a tenure of 20 years. In this situation, the home loan EMI amount you would pay is not more than Rs. 17,500.

Which bank provide education loan easily?

HDFCThe maximum loan amount by HDFC Bank is up to INR 20 lakhs. The processing fees for education loans is up to 1.5% of the loan amount with no fees levied for prepayment of the loan….HDFC education loan interest rates.Loan amount limitHDFC interest ratesHDFC education loan interest rate (average)11.88%2 more rows

Is it easy to get education loan?

Easily available: Education loans are widely and easily available. In fact, they are a priority product in all banks as per the RBI’s guidelines. Varied loan amounts: Banks can offer loans anywhere between Rs. 2 lakhs and Rs.

What is the EMI for 20 lakhs personal loan?

Formula of Calculation of EMILoan amountInterest RateEMI per month5 Lakh8.35%Rs. 6,15910 Lakh8.50%Rs. 9,84715 Lakh8.60%Rs. 13,11220 Lakh8.70%Rs. 17,610

Can I get a loan of 1 lakh?

1 lakh personal loan from Bajaj Finserv. Enjoy instant approval and disbursal within only 24 hours, hassle-free application process and easy to meet eligibility criteria for instant financing. … 1 lakh amount. You can select a flexible repayment tenor ranging up to 60 months to repay the loan with ease.

Can I get personal loan of 20 lakhs?

Check the loan amount you are qualified for against your income and other factors with the help of a personal loan eligibility calculator….Eligibility Criteria for Rs. 20 Lakh Personal Loan.Eligibility CriteriaRequirementsOccupationSalaried or self-employedAgeBetween 23 and 55 years2 more rows

Can I get 50 lakhs education loan?

Educational loans in India can vary between Rs. 1 lakh to upwards of Rs. 30-50 lakh.

What are the documents required for Vidyalakshmi education loan?

Documents required for education loanDocuments required for education loanParticularsAcademic RecordsLast qualification marksheets, score card, degree or diploma Latest admission proofs Basic qualification records (HSC/10th/12th passing records)Financial documentsBank Statements Income Tax documents3 more rows

What is the EMI for 40 lakhs loan?

What is the EMI for a 40 lakhs home loan? The EMI for a 40 lakh home loan will depend on the interest rate and the tenure period that you and your lender agree upon. For instance, if you get an interest rate of 8% and a tenure period of 20 years, your Equated Monthly Instalment(EMI) will be Rs. 33,458.

How can I get 6 lakh loan?

6 lakh Personal Loan, follow these simple steps mentioned below:Enter your employment, financial, and personal information.Select the loan amount and repayment tenor to avail the funding rapidly.Submit the required documents with our representative, who will get in touch with you.More items…

Is it hard to get a student loan?

Yes, there is an ease of ability to get the loan, but you also have to do well.” If you don’t meet the academic standards of the Education Department or your school’s financial aid office, you won’t be able to get federal student loans for another term, until you get your grades up.

Is any property required for education loan?

To get a loan from a lender, you generally have to pledge security such as house property, fixed deposits, shares, bond, etc., to take the loan. … Under this scheme, you can get a collateral-free loan amount for up to Rs 7.5 lakh without providing any third-party guarantee.

Can I get a loan of 50 lakhs?

50 Lakh loan also becomes convenient with the flexibility of tenor. A salaried individual can opt for a tenure ranging between 2 and 20 years, depending on his/her repayment capacity. For a self-employed individual, the maximum available tenure is 18 years. Choose your repayment period as per your suitability.

What is the EMI for 60 lakhs home loan?

60 Lakh at 9% (0.75% per month) rate of interest with tenure of 20 years (240 months). Then, EMI = [60,00,000 x 0.75% x (1+0.75%)^240]/[(1+0.75%)^ (240-1)]….FAQs.LTVProperty value90%Less than Rs. 30 Lakh80%Rs. 30 Lakh to up to Rs. 75 Lakh75%Above Rs. 75 Lakh

Can I get education loan without parents?

The education loan policies of most lenders in India mention that only an individual who is a parent or a nearby relative can be named as an education loan co applicant. Very few of them even consider the possibility of providing an education loan without co applicant.

Can I get 30 lakh loan?

Here’s the Lowest Calculated EMI of 30 Lakh Home Loan amount for 20 Years. It will give you roughly how much you have to pay for Interest & Total Amount with Interest….30 Lakh Home Loan Interest Rates.SBI7.90 – 8.45%Axis Bank8.55% – 9.10%Bank of Baroda8.15% – 9.15%Canara Bank8.10 – 8.55%Aadhar HousingN.A4 more rows