7 things to know before taking an education loan
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- Опубликовано: 28 июл 2024
- There is a lot of misunderstanding surrounding Indian banks and their education loan products. Reading over the terms and conditions makes many students nervous because they realize they can't afford such a huge loan. Well, don't be alarmed.
To ensure that your education loan application procedure runs well, we have compiled a list of 7 things you should know before taking an education loan.
The following are the timestamps from this episode 👇
00:00 - Teaser
00:37 - Introduction
02:09 - The difference between a collateral loan and a non-collateral loan
03:10 - Minimum eligibility requirements for every bank
04:00 - Interest rate concessions and subsidies
05:49 - Interest type and effect of compounding
06:50 - Estimated earnings, moratorium period and Repayment planning
08:52 - Important terms and conditions of various lenders
10:09 - Tax planning with Education loan
11:55 - Conclusion
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Request a callback by clicking the link below-
👉www.wemakescholars.com/educat...
Or call us at -988 988 20 90
Our team of financial officers assists you with your entire education loan process until sanction, disbursement, and beyond. All the services offered by WeMakeScholars are free of cost as this initiative is supported by the IT Ministry, Govt. of India.
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Links mentioned in the video
🔶Jansamarth form filling for Education Loan subsidy
• Jansamarth form fillin...
🔶Education Loan Subsidy Schemes
• Education Loan Interes...
🔶Simple Interest vs Compound Interest
• #EducationLoan #Intere...
🔶EMI Calculator
www.wemakescholars.com/educat...
🔶Education Loan Income tax exemption section 80E
• #EducationLoan income ...
🔶 80E Tax Rebate Calculator
www.wemakescholars.com/educat...
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LinkedIn Reviews: / wemakescholars
Google Reviews: www.google.co.in/search?q=wem...,
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Since the first episode in 2018, the LoanFlix series has now become the most comprehensive web series on RUclips on the abroad education loan process. LoanFlix season 2 brings you deeper insights into the topics related to the Abroad Education Loans space.
We've also covered practically every aspect of an abroad education loan in our LoanFlix series, which you can find below. So do watch the entire series if you want to know everything about education loans for abroad studies.
🔶LoanFlix Season 1
• Loanflix: The most com...
🔶LoanFlix Season 2
• Loanflix Season 2
🔶Country-wise Education Loan Guides
• Country-wise Education...
🔶Testimonials- WeMakeScholars
• Testimonials- WeMakeSc...
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About the Presenter - Damini Mahajan is a visionary entrepreneur and co-founder of WeMakeScholars.com, an education finance start-up for international education. Damini has been mentioned as a "Top Women in Tech" by The Asian Entrepreneur. She has also been awarded as the winner of the Silicon Valley Challenge by Action for India 2016 and was in the Top 75 start-ups in Power of ideas by Economic Times at IIM Ahmedabad.
👉Script editor- Arjun R Krishna
👉Shot, Edited & Directed by Ravi Singh
👉Designs - Ravi Singh
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#studyabroad #loantips #educationloan #protips
Very Good Venture & Useful for Common Public
00:01 Understand the 7 crucial points before taking an education loan
01:43 Difference between collateral and non-collateral loans
03:15 Government banks offer more flexibility for collateralized loans
04:46 Government subsidies and different schemes for education loans
06:20 Choose between government banks and private banks based on interest charges
07:56 Calculate EMI based on salary and savings for loan amount estimation
09:30 Understand loan insurance, prepayment charges, and tax benefits
11:04 Understanding the tax benefits and implications of education loan
Thank you mam😊
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Actually form is needing to much information from I am not comfortable sharing my Adhar and pan number pls can you guide here
Hi, Both Aadhar and PAN cards are essential documents serving distinct purposes. Aadhar is primarily for identification, while PAN is crucial for legal identification and financial matters. Ensuring both cards are in order we will facilitate accurate eligibility checks as per your profile. Please don't hesitate to contact us at hello@wemakescholars.com. We are here to assist you.
Mam my child age is less than 18 year so pan card is compulsory for educational loan please advise me
Hi Manish, Indeed, having a PAN card is essential for securing an education loan and ensuring accurate financial assessment. We understand the importance of this process and are here to provide expert assistance every step of the way. Feel free to contact us, our team will be more than happy to guide you through the process. To expedite matters, you can request a callback through the following link: bit.ly/3MVP0Sy.
Hi Mam..Thank you for the explanation . Iam looking for a education loan for my son who has finished BE last month and his provisional certificate is yet to arrive. I do not have a collateral..can u advise on the eligibility of getting a loan to do management in engineering ....Thank u
Hello, Kindly request a callback at bit.ly/48cTdcR. Our team will get back to you shortly and provide prompt assistance and guidance. We're empanelled with 15+ public and private banks. Our team can suggest you the best bank, tailored to your son's profile.
I hv to apply an Edu loan within 7.5 lacs for my son to study in NLU for BA LLB( hons) 5 yrs course in Assam. m thinking to take from bank of baroda or sbi. Which bank will be good . But I m facing trouble to fill up the vidya laxmi . Is vidyalaxmi is mandatory in this both bank.
Hello Rajib sir, deciding which bank will be good depends on the profile of the student. Both SBI and BOB are good banks which are offering an interest rate of 10.65% and 9.15% respectively. However, according the student profile, other banks might give a best offer.
Coming to Vidyalaxmi, there is no need to fill the form when you approach with us. We will make sure all the process is done hassle-free, online.
We will help you with everything for free. Please request a callback using this link: bit.ly/48cTdcR
Maam i wanted to sudy mbbs in Crimea Federal University Russia, i have taked to a agent she said it would cost around 25 lakhs total for 6 years i have a hould that i can use for collateral what bank or lender should i go for , and do they provide loan as much as ur collateral cost or even more i thank that house is around 15-17 lakhs, can i get a loan for 25 lakhs
Hi there! getting an education loan for Russia can be challenging, due to the country's disputes and poor relations, so the chances of securing the loan are slim. You can only get education loan worth up to the value of your collateral only. However, you can seek expert guidance from the team by requesting a call back here: bit.ly/48cTdcR. The team will get in touch and evaluate your profile with 14 lenders in the market and help you get the best deal out of all. Get started with it right away. Best of luck:)
hello, Thanks for such a valuable video. Can we take education loan from abroad ( usa) and is it helpful? please guide
Hi, processing your education loan through a foreign lender might have a few drawbacks. And we believe you are planning your abroad studies. We encourage you to get in touch with the Financial Officer by requesting a callback on the following link: bit.ly/3MVP0Sy. The team will get back and will evaluate your profile with 14+ leading public and private lenders and suggest the best outcomes!
Can you make a video on how to pay the loan faster for eg can we combine two emi into one or single emi can we choose to pay 5 to 10% more
Hi, kindly note that, After the moratorium period you can repay more than your EMI and there won’t be any foreclosure charges. We highly suggest you to watch this video: ruclips.net/video/KKI6-qGZM3E/видео.html for your better understanding about the loan repayment. To know how to effectively repay your loan amount, simply request a callback at bit.ly/48cTdcR our team will respond to you shortly.
@@WeMakeScholars
Ji
Ma'am, I got 28000 rank in comedk. I am poor and cannot afford to get a collateral loan. I want to do B tech in cse with some college in Bangalore but money is hindering everything. I want to get a loan which I will repay after I get a job. What should i do to get a loan at the minimum interest rate to provide for my family without collateral? Also do tell me how much time would it take for me to get the loan as my comedk counselling will start from 7 june
Hey! Could you please tell your tuition fees?
Same maam but I don't have a rank
Nowadays, It’s too hard to get education loan for middle class students.
I have collateral and my father in govt job but still I couldn’t get the loan😞😞😞
Yes u are right... Getting Education loan is not easy at all.
Hi there! We've got you covered! Connect with our Financial Officer for personalized assistance. They'll gather the necessary details to assess your eligibility with over 15 leading lenders in India. Request a callback from our loan team via this link: bit.ly/3MVP0Sy. Our team will promptly guide you through the process.
Mam, i wanna take admission in a btech college, its name is VIT-AP. I want to know is can i get education loan with tution fee of 2lakh per annum and hostel+ mess 3 lakh total 5 lakh per annum multiplied by 4 years, can i get 20lakhs education loan, i found bank of baroda giving non collateral loan for 15 laks.. I checked canera, sbi but i could'nt even find that college name in their premier education list. Please i need 20 lakh non collateral loan, can i get it? If yes, i will start focusing on that entrance exam more, if not i will move to other exams
Hi, To ensure you receive the best possible guidance, we highly recommend seeking expert assistance. Our Financial Officer will gather the necessary details to assess your eligibility with over 15 leading lenders in India. Simply request a callback from our loan team through this link: bit.ly/3MVP0Sy. Once you've completed the form, our team will promptly reach out to provide you with comprehensive guidance every step of the way.
VIT me loan leke padhne se accha mat padh bhai, VIT is shit
Hii mam. I want to apply for master degree in canada and i want ur help in order to take an education loan . Plz i need ur help
Hi Vishali, Great to hear from you! Rest assured, we're here to provide you with exceptional loan assistance. If you're seeking support from our team throughout the loan process, simply request a callback through this link: bit.ly/48cTdcR. Our dedicated team will carefully evaluate your profile and assess your eligibility with over 14 public and private lenders. This ensures that you secure an education loan perfectly suited to your profile and needs. Don't hesitate to connect with them right away. Wishing you all the best!
Mam can I get this loan next year after my graduation
Yes Bobby you can get it after your graduation. Whenever you are ready, just use this link bit.ly/48cTdcR and talk to us :)
Mam aapke yaha form fill kiya tha call back kr liye aaj toh koi call nhi aya and mujhe 50 lakhs ka loan chahiye for MBBS in abroad mam plz help with low interest
Hi Aditi, Hum aapse respond karne keliye minimum 48hrs ka samay lag tha hain. Hum zaroor aapke education loan panae ka madath karenge. Follow-up keliye, aap humko contact by phone at 9393344424 or email at hello@wemakescholars.com kar sakte hain.
Is it true all services are free ?
Means ..
Hi Priya, As WeMakeScholars is funded and supported by the Ministry of IT, Govt. of India under the Digital India campaign, we do not charge any service charges, hence it's free of cost. We're empanelled with 15+ public and private banks and help students get education loans for study in India and abroad. You can get in touch with our team by requesting a callback on this link: bit.ly/48cTdcR or call 9889882090 to get assistance.
Mam i want to Apply for CSIS scheme and i am eligible too But as i went to bank and told them that i want too avail subsidiary loan they tell me to fill through vidhyalakhsmi portal . Mam please tell me if i apply through Vidhyalakhsmi will i get subsidiary or not? they said that they'll apply for it after but now i have to apply through vidhyalakshmi
Hi, if you’re eligible for the CSIS subsidy, you should apply through Jansamarth Portal. You cannot claim the subsidy if you apply through Vidya Lakshmi Portal. I hope you’ve understood. We can definitely help you get an education loan so that you can claim your subsidy. We’re empanelled with 15+ public and private banks. Speak with our team as they can connect you to the best bank, matching your profile. Additionally, we don’t charge any service fees. Simply request a callback at bit.ly/48cTdcR. Our team will respond to you shortly.
@@WeMakeScholars Mam i already applied now because The SBI manager said That i can claim subsidiary After the loan they'll apply for it .
mam what to do now🥺
Hey! Now that you’ve applied through Vidya laxmi portal, Kindly approach the bank you’ve applied to. Request them to cancel your application. After a cooling period of 6 months, you’ll be able to apply in Jansamarth portal to claim subsidy. To avoid 6 months delay, you can process your loan via Wemakescholars. We’re empanelled with 15+ public and private banks. We provide prompt assistance in your entire loan process. Based on your profile, our team can suggest you the best bank. Additionally, all our services are completely free of cost. Request a callback at bit.ly/48cTdcR our team will get back to you shortly.
Mam I sent u a message to that whatsApp number but no reply like I think u blocked my number I guess 😢
Hey! sorry for the inconvenience, please write to hello@wemakescholars.com for any queries. Our team can help you determine your eligibility in 15+ public and private banks and help get best education loan which suits your profile. To get assistance request call back on the link: bit.ly/48cTdcR
I got admission in UCL, is Union bank of India a good option for education loan?
Hello, Jyotsna. We recommend that you watch this video before proceeding with anything. ruclips.net/video/jy2rfT8F0jE/видео.html. There are other banks that offer better products than Union Bank. You can speak with your financial officer for one-on-one assistance with your school loan. Our experts will assist you in checking your eligibility with 15+ banks and obtaining an education loan that meets your demands. Please request a callback by this link: bit.ly/48cTdcR or by calling 9889882090, and a financial officer will contact you shortly.
Mam how can I apply loan for study in india
Hey! Our partnered banks are offering competitive deals for your higher studies in India.
Kindly request a callback at bit.ly/48cTdcR. One of our financial officers will get back to you and help in getting the best education loan deal for your higher studies in India.
@@WeMakeScholars mam kaise call back karoon pan card no nahi hai
Kindly apply for a PAN card. After receiving it you can reach out to us by requesting a callback at bit.ly/48cTdcR. One of our financial officers will get back to you soon
@@WeMakeScholars thank you mam 🙏
mam, can i get loan upto 8 lach without any collateral and which portal should apply on.
Hello, Adarsh. If your loan requirement exceeds 7.5 lakhs, you will need to obtain a secured loan. If you are eligible for the CSIS plan, you can register on the Jansamarth portal or apply through the Vidyalaxmi portal. You can reach out to our team for help. We will assist you in verifying your eligibility with banks and obtaining an education loan. Please request a callback by this link: bit.ly/48cTdcR or by calling 9889882090, and a financial officer will contact you shortly.
Mam did any intrest rate concession is there for girls students and sc/st girls students?
Hi, yes, there is a 0.5% concession available for females, and there are no concessions based on caste. For personalized assistance in understanding the best loan terms based on your eligibility, please request a callback at the following link: bit.ly/48cTdcR. Our team will be in touch with you shortly. Best of luck!
I took my education loan from union bank. Im paying interest in this moratorium period. My father is my co applicant. How can he claim the tax exemption on this? The interest amount is getting deducted from my account where my father is depositing some money. But i don't think it will come under his name this way. Any clarity?
Hi! Kindly speak with your CA. They can help you get the interest subsidy under section 80 (E). You / your co-applicant is eligible to claim the subsidy for up to 7 years.
Hii mam I want loan amount for my mbbs in india upto 50-70 lakhs can uh pls help
Hi Harini, we can definitely help you in securing an education loan for your MBBS studies in India. We increase your chances of getting the loan as we’re empanelled with 15+ public and private banks. Speak with our team as they can suggest you the best bank which is suitable for your profile. Simply request a callback at bit.ly/48cTdcR. Our team will respond to you shortly.
Your English 🫶
Mam I need education loan for cpl course in India. please help me Mai callback request ki thi par koi response nhi aaya hai. mam please help me
Hi, Apologies for the slight delay. We will surely help you out with the education loan assistance. We would like you to reach out to our Customer Support team at hello@wemakescholars.com. The team will promptly address your concerns.