Education Loan

Home Home MBBS MCI Test Coaching Get Scholarship Medical PG Study in Germany Passion Career Contact Live Counsellings

Education Loan Home Education Loan Education loan

If you are dreaming to study abroad, you might require to take up the education loan to bridge the gap of available finance and the required funds. Whichever course or the university you may choose to study abroad, MBBS Perfect can surely guide you to avail of the Education loan to fulfill your dream.

About Education Loan

Basically the concept of education loan is to bridge the finance till the student completes the studies and then let the student pay back the same to the financiers in the form of EMI. The student is expected to get the employment on completion of the course and pay back from the salary. Accordingly, the education loan is generally in the name of the student. However, the money is always co-borrowed by the parents in order to securitize the loan extended to the student.

There are 2 types of Education loan available for the students.
The education loan by the public sector banks.

The private companies providing education loan.Education loan by Public Sector Banks:

Most of the study abroad programs are covered by the public banks for providing education loan. Generally they prefer to know the customers before they provide the loan and accordingly, you should approach the branch of your own bankers. There are 3 slabs of education loan which are popular among most of the banks:
Rs. 4 Lacs Based on parents income proofRs. 7.50 Lacs Based on Guarantor’s income proofRs. 20 Lacs Additional collateral security
The tenure of repayment is very convenient for the students such as 10 years for Rs. 7.50 Lac loan and 15 years for Rs. 20 Lacs amount. Also, the scheme have 1 year of moratorium period after completion of the study / course. This period allows the student gives time to get the employment.

Till the loan repayment is started in the form of EMI, the parent needs to pay the interest rate. Generally the interest rate is around 12% (changes constantly) for boys and a discount on interest rate for 11.5% for girls.
Generally, the education loan product has high NPA (Non-Performing Asset) meaning the repayment problems. Accordingly, the bank managers are not very anxious to give education loan. The responsibility for allotting sanction of education loan remains with the bank manager. The risk taking ability of the bank manager is limited especially for education loan and

Education loan by Private companies

Nowadays, there are few companies offering the education loan in the market. is one of the pioneers in the field of providing education loan for study abroad to the students. The schemes for individual type of programs and for parents with varied financial back ground are customized. It is the first company to launch education loan for many students looking to study abroad:

MBBS in USA. MBA MS programs in various countries including Germany MBA abroad in various countries Study in Europe for various Career programs Generally the interest rate of the private companies providing education loan is higher than the public sector banks of Sri Lanka.

However, their professional services and quick loan sanction process makes them a preferred choice among the students.

Loan for Study Abroad programs

You can apply for the Education loan by simply submitting the following documents:

Admission letter Cost to study for the entire course duration including travel cost Residential proof Income Proof Guarantors if any (All the personal and income proof of Guarantors)Copy of the documents for immovable property towards Collateral Security The documents are assessed for the initial screening and the confirmation of the loan is given within 1 week on submission of all the required documents.
You may either contact our office or directly the education loan provider for further information.

MBBS Scenario in Sri Lanka

MBBS in Sri Lanka

MBBS Abroad

MBBS in China

MBBS in Russia

MBBS in Ukraine

MBBS in USA

MBBS in Georgia

MBBS in Poland

MBBS in Belarus

MBBS in Azerbaijan

MBBS in Kyrgyzstan

MBBS in Philippines

Medical PG

Medical PG in Germany Medical PG in USA

Country wise Comparison

Grade of the MBBS Universities

About MCI Screening Test

MBA

MBA in Germany

MBA in Switzerland

Select Country

Study in USA

Study in Germany

Study in Portugal

Study in Spain

Engineering

Indo-China Joint Program

Engineering in China

Engineering in Poland

MS in China

Passion Career

Hospitality Management

Culinary Program

Fashion Designing

Interior Designing

Students Program
Apply Now

Leave a Reply

Your email address will not be published. Required fields are marked *