NEWS & ADVICE : EDUCATION LOANS
Get the basics right before applying for an education loan
By Neelima Shankar
Print    Email    RSS   

PNB has laid down a set of eligibility criteria for sanctioning the education loans.

•  A student, who is an Indian national, can apply for the loan.
•  An applicant is considered eligible for PNB educational loan, if he gets admitted to a professional or vocational course through a selection process or into a foreign institute.
•  A student applying for a graduate program can also get the loan if he obtains at least pass marks in the qualifying exam.

 

The required documents that would be submitted while applying for education loan may vary from bank to bank. Some of them include proof of admission, fee structure of the institute, mark list of the qualifying examination and photographs.

 

If the applicant is earning the documents such as Income tax assessment order of last two years, bank account statement, income proof etc are needed.

Tax advantage

There is a tax advantage to take loans. Interest repayments on education loans are tax deductible. A deduction under section 80E of the Income-Tax act for the interest paid on an educational loan can be claimed. This deduction is allowed for 7 years and the loan must be taken for higher education purposes only and loan has to be from a financial institution or a government approved charitable institution.


Page    | 1234 |  
(Comments Posted : 3) Post Your Comments
1. hiiii
your artical for education loans is very nice.
i just want some more information regarding this.
my topic is impact of education loans on indian economy.
if there is some information than plese submit it on my e mail id .
thank you
pooja pawar (Posted: Oct 1, 2011)
2. Such a important & valuable information given!!! Really Nice!

Thanks....
D. N. Raut (Posted: Aug 15, 2011)
3. A good article explaining the basics.
Ved Prakash (Posted: Dec 29, 2010)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Interest servicing during moratorium...
Claim tax deduction on education loan
Complete guide to education loans in India
Bank loans that could glitter for you
Some Banks offering education loans for...


ROPAR: CaℒL Giℛℒ In Kurali 09855660911...
Why Pitampura Tutors (Ph:- 9911742311) & Private...
kala jadu in hindi 9636854282

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