NEWS & ADVICE : EDUCATION LOANS
Education loans seeing a facelift in India
By Neelima Shankar
Print    Email    RSS   

Education has become a costly affair in the present time. The need for making education affordable for all is increasingly gaining priority in the Government's checklist of prime concerns. In this context, the Indian Government came up with many proposals for modifications in the existing education loan system.

While one scheme focused on granting education loans at rates as low as 4% another came up with slashing interest payment during moratorium period and still another focused on offering tax concession on education loans for all streams of study including vocational courses.

New features added to education loans

Rate of interest: The HRD ministry had proposed a while back that the rate of interest charged to different borrowers would depend on the income level of their parents. Compare current Education Loans here.

The interest rate was chalked out in a way that students whose parents have an annual income of less than Rs. 4.5 lakhs would be granted loans at a rate lower than that charged to those whose parents' income is more than the 4.5 lakh threshold but the loan amount sought is less than Rs. 12 lakhs.

Loans amounting to more than Rs. 12 lakh would be charged a higher level of interest than the rest.


Page  | 123 |  
(Comments Posted : 1) Post Your Comments
1. Buildings are quite expensive and not everybody is able to buy it. But, personal loans was created to support different people in such cases.
Rene27Horn (Posted: Dec 31, 2012)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Effect of employment on loan eligibility...
Collateral and co-applicant requirements...
Carnival of Indian Personal Finance Blogs #2
Carnival of Indian Personal Finance Blogs #1
A chronicle of excesses by loan recovery...


दर्दDEप्यार+91 9829118458 Best...
love marriage specialist babaji+91-9929725600
vashikaran specialist babaji in uk+91-9929725600
09915682002 Female Escort Service In Delhi Connaught...
09876010894 Massage Services For Women At Home In...
09876010894 Thai Body Massage Centre In Ludhiana...

NEWS THIS WEEK
Banks to look forward to hire students from IIT/IIM Feb 18, 2015
Union Bank of India hiring for the post of specialist officers Feb 16, 2015
Canara bank launched scholarship Scheme Feb 13, 2015
AXIS bank started ‘My idea of progress’ Campaign Feb 12, 2015
RBI inviting applications for the guard post Feb 11, 2015
News Archive