Tips For Education Loan

1
Education Loan
2
Tips For Education Loan
3

• Along with the burden of exams and getting
  admission into a good university there is another
  major issue, which the students have to deal with
  and that is to arrange the expenses. To overcome
  this burden many banks offer different types of
  education loans. Although it is quite tuff to
  figure out the best scheme available, students
  need to clarify certain things before deciding on
  one. We have come up with few tips which would be
  of help while picking out the best option.
• The student loans are increasing constantly, in
  case of India the number of student loans has
  increased more than ten times since 2004, this
  calls for better awareness among the students and
  the parents. So these pointers would surely help
  you, avoiding excess fees and extra interest
  costs, protecting your credit rating, and keeping
  your payments affordable.

4
Understand the loan

• The first thing to keep in mind before going for
  any loan is to do your homework very carefully.
  Do read the terms of each and every loan option
  carefully before applying. You may get a better
  rate through a different bank, so you should
  explore all your options. It is very important to
  understand the eligibility criteria and all the
  other aspects, which the loan covers to complete
  the education, before applying.

5
Know Your Grace Period

• There is different grace period for different
  types of loans. Grace period is the time you can
  wait after completing your course before you have
  to start making your payments. So you should have
  a clear idea about the market and anticipate the
  Job scenario once you leave the college, so you
  are in a comfortable position while paying
  instalments.

6
Do Not Default

• It is always better to pay off your loans as soon
  as possible, but at times lenders impose extra
  fees for pre-payment of the loan. A certain
  percentage of the remaining balance is charged in
  case of loan closure.

7
Keep these pointers in mind and dont hesitate to
ask for help

• If you have any queries about education loan, or
  need help about how much to borrow, dont be
  reluctant to contact the banks loan executive.
• Source http//blog.nba.edu.in/2014/04/tips-for-e
  ducation-loan.html

8
To know more visit http//www.idbi.com/education-
loan.asp
Follow us on
http//www.facebook.com/idbibank
https//plus.google.com/107841355041235458179/?prs
rc3
https//in.linkedin.com/company/idbi-bank
http//www.twitter.com/idbi_bank
http//www.youtube.com/idbibank
9

• Read more on Education Loan http//www.idbi.com/
  education-loan.asp
• Thank You..!!!