NEWS & ADVICE : EDUCATION LOANS
Education loans see a dip in Gujarat
By Neelima Shankar
Aug 4, 2010
Print    Email    RSS   

Gujarat has seen a steep decline in the education loan disbursal amounting to a huge 42% in the FY 2009-10. However, there has been a 12% rise in the number of bank accounts which shows more students are taking loans for higher studies. The dip has thus been attributed to the declining number of students taking loans for going abroad to pursue higher studies.

While the year 2008-09 saw loan disbursal amounting to Rs 581.62 crore; the number came down to Rs 332.37 crore in the successive year (2009-10) showing a decline by Rs249.25 crore in absolute terms.

"It seems the demand for education loans is coming more from students joining the not so-premium institutions," said P Nandakumaran, chief general manager, State Bank of India (SBI).

SBI's education loan book has seen the maximum decline amongst all banks in Gujarat.

MK Jain, SLBC convener and general manager, Dena Bank said, "The maximum amount given by banks as education loan is Rs20 lakh. The number of students applying for this maximum amount has gone down."


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #3
Education loans seeing a facelift in India
This is how a bank lends money
A chronicle of excesses by loan recovery...
Effect of employment on loan eligibility...


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