Education Loan Processing
Education Loan Processing
Team SOS is dedicated to provide you ultimate financial service helping you to get through your Education Loan with Top Nationalized banks in INDIA. Please note that this processing is“FREE”.
Now almost all the banks in India give higher education loan to deserving students who are planning to study Abroad. The Banks have made the application procedure so simple that every student can take advantage and apply for Foreign Education.When the student applies for the loan he becomes the borrower and parents or guardian becomes the co borrower. The Education Loan amount is assessed on the basis of the borrower’s papers.
What we do :
Sit back and relax!!!! Team SOS have a special team that specifically work on your Education loan processing with banks. We are Authorized “DSA” with most of the Nationalized banks, we shall process for your education loan on your behalf with banks. Submit all the required documentation requested by specialized team, we shall process and will let you know the decision in 48-96 hours.
What we need :
- Admission Letter and i-20 from the university
- Checklist provided by specialized SOS team
Eligibility Criteria :
The first and foremost requirement of Banks before processing Higher Education Loan for students with Indian National and Student must have secured admission in University Abroad.
Expenses Considered For Loan :
- Tuition Fees: The fees payable to University; it also includes the laboratory cost, examination cost.
- Living Expenses: This includes Accommodation, Travel, Food, Clothes, Sight Seeing, Books, Utility Bills, etc.
The student can also take a loan to pay one of these or both.
Finance :
- The maximum limit for Higher Education Loan is Rs. 60 Lakh.
- Under special conditions we can request for higher amounts too.
Security :
| Loan Amount | Security |
| Up to Rs 4 lacs | Co-obligation of parents.No security |
| Above Rs. 4 lacs and up to Rs 7.5 lakhs | Co-obligation of parents together with collateral security in the form of suitable third party guarantee. |
| Above Rs. 7.5 lakhs | Co-obligation of parents together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of instalments |
Re-Payment :
Holiday period or Moratorium period:
Course Period + 1year or 6 months after getting the job, whichever is earlier.
Thus the student starts paying the amount only after this period till then he only needs to pay the interest on the amount he withdraws from the Actual Loan amount.