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Avanse Educational Loan in Kolkata

Interest Rate starts from 11.50%

Avanse Educational Loan Interest rates in Kolkata

Please Find the Detailed Avanse Educational Loan Interest Rates

Up To 5,00,0005,00,000 To 10,00,00010,00,000 Above
Executive Education11.50%11.50%11.50%
Study in Abroad11.50%11.50%11.50%
Study in India11.50%11.50%11.50%

Features of Avanse Educational Loan Kolkata

Type Features
Processing FeeUpto 2.0%
Pre Closure ChargesNil after 6 months
Part Payment ChargesNil
Min Tenure1 Years
Max Tenure10 Years
Min Age18 Years
Max Age35 Years
Min Loan AmountRs.1,00,000/-
Max Loan AmountRs.30,00,000/-

Avanse Educational Loan Kolkata Charges

Type Charges
E M I Bounce ChargesRs 400/- plus applicable service tax.
Duplicate Statement ChargesFree
Cheque Swapping ChargesRs 500/- plus applicable service tax
Repayment Schedule ChargesFree
Loan Re Schedulement ChargesOn demand
N O C Issuance ChargesFree
Duplicate N O C Issuance ChargesFree
Loan Cancellation ChargesNil
Non Standard Repayment Charges2% per month
Stamp Duty And Other Statutory ChargesAs per Govt Stamp Duty

Documentation For Education Loan

  • Signed Application form
  • Two Passport Size Photos - Applicant and Co-Applicant
  • Photo ID - Applicant and Co-Applicant (Any one of the following)
  • Residence Proof - Applicant and Co-Applicant (Any one of the following)
  • Academic Documents of Student/div>
  • Proof Of Admission (If available)
  • Last 8 Months Bank Statements of Co-Applicant
  • Income Proof of Co-Applicant
  • Accepted Collateral documents
  • PAN Card
  • Passport
  • Driving License
  • Voters ID
  • Employee ID
  • Photo ID issued by the Central Govt. or State Govt.
  • Bankers Verification/ Bank Passbook with photograph of account holder attested by bank
  • Passport With Address
  • Bank Statement With Address
  • Driver's License with Address
  • Utility Bill (Not older than 3 months))
  • Telephone Bill (Not older than 3 months)
  • Ration card
  • Latest LIC Premium Receipt (Not older than 3 months)
  • Leave and License Agreement supported with an address proof / utility bill in the name of the landlord
  • Voter's ID
  • Marks sheet/Certificate of 12th Exam
  • Marks sheet/Certificate of Subsequent Years of Education e.g. BE, BCom, BSc, etc.
  • Marks sheet of Any Entrance Exam Taken e.g. CAT, CET, etc. (If applicable)
  • GRE/GMAT/TOFEL/LETS, etc Mark sheets For US Applicant
  • Scholarship Documents (if applicable)
  • Printed Admission Letter From the Institute on its Letterhead With Institute's Address
  • I-20 Form for the USA Applicant (If any)
  • 8 Months Bank Statements of Co-Applicant (If more than one bank account, provide copies of all)
  • Note: Make sure to include the bank statements of the Bank Account where Salary or Business or Professional receipts are credited every month.
  • Latest 3 Salary Slips or Salary Certificate on Employer's Letterhead
  • Last 2 year's Form 16 from Employer or Last 2 Year's Income Tax Returns
  • Any Other Income Proof That is Not Reflected in the Above Documents
  • Last 2 Year's Income Tax Returns
  • Last 2 Year's Certified Financial Statements or Provisional Financial Statements
  • Proof Of Office (any one of the following, Lease Deed, Utility Bill, Title Deed, etc.)
  • Any Other Income Proof That is Not Reflected in the Above Documents
  • Property Title Deed
  • Registered Sale Agreement Along With Society Share Certificate
  • Original Registration receipt for the above agreement
  • Allotment Letter By Municipal Corporation / Authorized Govt, Commencement Certificate from Municipal Corporation/Council.
  • 15 years or 30 years of Title Search (Previous Chain of Sale Deed establishing title) of the property.
  • Any other document as prescribed by our empanelled lawyers or chartered engineers from time to time
  • Residential Flat
  • Residential House
  • Non-Agricultural Land
  • A Fixed Deposit

Avanse Educational Loan FAQ's

1. Who can apply for an Avanse Education Loan?

Applicant can apply for an Avanse Education Loan if he/she is: An Indian Citizen Student above Secondary School Certificate Has a confirmed admission at the Institute before final disbursement of the education loan. Other factors considered in the evaluation are good academic record, recognition granted to the institution (rating) the student has opted to pursue his higher education in and regular source of income of the parents.

2. When can the applicant apply for an education loan from Avanse?

The applicant can apply anytime for an Avanse Education loan; the disbursement however happens once Avanse receives the admission confirmation from the institute for the course he/she wishes to pursue. Avanse also offers Pre-Admission Loans (PAL) in case the student has applied or is awaiting confirmation of admission from the university.

3. What do you mean by the Avanse pre-approved education loan? What is the benefit of taking one?

With the cost of education continually on the rise and the limited availability of financial assistance or scholarship aid, higher education funding can be very challenging. At Avanse, we understand this and hence offer a Pre-approved Education Loan, basis the credit worthiness of the applicant/s (parents/ guardian/co-borrower/borrower). A student can use this to present the as proof of funds while applying for admissions to different universities/institutes. In fact, with an Avanse Pre-approved Education Loan, an applicant can strengthen his/her case for admission, including the choice of course. It therefore makes sense to get a Pre-approval NOW, for a need that may occur later.

4. How soon must the applicant apply to ensure that he/she get the fees paid on time during his/her admission?

An Applicant should ideally start early. They should start the loan application process as soon as they know what college/institute/university they plan to attend, the cost of the course/course fees for the current academic year and, if possible, provide proof of enrolment/admission confirmation. The applicant should allow himself 6 to 8 weeks from the time of the initial application, until their school receives the funds.

5. Can you tell me something about Avanse?

Avanse Financial Services Limited is a Non-Banking Financial Company (NBFC) promoted by the Dewan Housing Finance Corporation Limited (DHFL) group and is regulated by the Reserve Bank of India. Its aim is to enable financial access for higher education.

6. How is an Avanse Education Loan different from other banks?

Avanse is a Focused Education Loan Provider. It believes in enhancing the whole experience of higher education finance through its applicant-oriented and transparent approach. The difference is as under: Customised loan structuring Maximum Loan amount with 100% coverage of cost of education Competitively priced schemes Personalized counseling to educate the borrower At-your-door services Use of expertise and technology to deliver a hassle-free experience Pre-visa disbursements, Pre-Admission Loan.

7. Can the applicant transfer his/her existing student loan to Avanse?

Yes, Avanse offer balance transfer facilities at competitive pricing.

8. If the applicants have a query or a complaint, whom should they approach at Avanse?

We are all ears when it comes to our applicants, so getting in touch with us for any query, complaint or suggestions is very easy; The Applicants may get in touch with a loan servicing officer from any branch closest to you The applicants can call Avanse toll free no at 1800 833 6333 The applicants could write to us at response@avanse.com Avanse will respond to your concern at the shortest possible time.

9. If the loan request has been rejected by Avanse once, can the applicant apply again ?

Yes, the applicant can apply for an Avanse education loan once again. However, it is important that he/she fulfil all the documentation and compliance requirements before re-applying to us.

10. If the applicant does not have a consistent record of first class in academics, but has secured an admission with a reputed institute, will Avanse give him/her an education loan?

Yes, a good academic record is preferred as it shows the student’s level of commitment to his/her curriculum and career, thus giving us the confidence to finance his/her career aspirations. However, this is not the only parameter used to evaluate the loan eligibility.

11. Does Avanse fund for admission acquired through payment seats?

Yes, we do finance courses for admissions secured through payment seats/ management quotas.

12. Does Avanse Education loan fund part-time, correspondence or online program?

Avanse focuses on enabling your future and hence we do fund aspirants pursuing higher education through part-time, correspondence or online programs. However, we must recognize the course as per norms prescribed and regulated by the management at Avanse Education Loans.

13. How much loan can an applicant get from Avanse?

Avanse Education Loans are structured based on the requirement of finance, subject to the repaying capacity of the parents/student. Our loan limits are broadly categorized as mentioned below: Studying in India Minimum: Rs. 50,000 Studying abroad Minimum: Rs.1,00,000/-

14. For what type of courses can a student apply, for an Avanse Education Loan?

At Avanse, the focus has always been to help the students in their pursuit of a higher education. Hence, we look at tailor-made loans that suit the students choice of education, subject to the course and the college/institute/university meeting Avanses credit policies and requirements. Broadly, we cover the following: Graduation, post-graduation, including regular technical and professional degree/diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc. Regular degree/diploma courses conducted by autonomous institutions like IIM, IIT, ISB, etc. Graduation/post-graduation for job-oriented professional/technical courses offered by reputed or recognised universities outside India. Regular degree/diploma courses like aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/Shipping. Vocational training, executive programs and other courses that have been approved by Avanse will be eligible for financing.

15. What are the costs covered by an Avanse Education Loan?

An Avanse education loan provides the maximum loan amount i.e. 100% of the cost of education. It covers the following expenses that arise in your higher education commitments:< 100 % Tuition Fees as determined by the institute/university. Living expenses including books, computer, and project expenses, up to 75% of total living cost. (Not exceeding 20% of the total tuition fees payable for complete course). Travelling expenses up to Rs 75,000 for students traveling abroad. Insurance premium (In cases where student takes insurance from Avanse preferred insurance provider). Caution deposit, building fund supported by institution bills/receipts (not exceeding 10% of total tuition fees).

16. What are the documents required while applying for an Avanse Education loan?

Avanse ensures that it follows all compliances and regulations as deemed by the concerned government bodies and policies; this is to ensure good credit practises, which is beneficial to the borrower as well as to the lender. Our documentation requirements are simple and are categorized as below: Student KYC Student educational documents Course cost or fee details Co-borrower KYC Co-borrower income documents Collateral documents For the complete details on the documents required, please click hereIt is beneficial and reduces the turnaround time substantially if you submit all the documents as per the checklist upfront. Also, please do not forget to self attest all the submitted documents to prevent misuse.

17. Are there any charges for processing my education loan at Avanse?

Yes, there is a single fee, which usually ranges from 1-2% of the loan amount; it is charged for the complete processing of your loan application.

18. What does margin amount mean and how much is it at Avanse?

Margin amount is the amount that the applicant pays through his own source as a down payment or his own contribution towards the education. However, at Avanse we do not ask for margin money as our loans are designed to provide 100% funding of the cost of education.

19. Can customers pre-pay the loan? Are there any charges associated with it?

Yes, customers can prepay their loan; charges for the same shall be applicable as per the prevailing policy of Avanse.

20. Does the ROI change during the period of my course?

Yes it may change. Avanse offers loans at floating rates, which may change depending on the external economic conditions and internal company policies.

21. What is the repayment tenure offered for an Avanse education loan?

Minimum repayment period: 12 months Maximum repayment period: 120 months Grace period, moratorium/holiday period of 6 months after the course completion or 3 months after the candidate has obtained employment.

22. Does Avanse offer flexible repayment options? What are they?

Avanse offers flexible repayment options. The student may choose to opt for the one most conducive to him/her: EMI payment during the course Interest servicing during course Partial interest servicing during course

23. What is a holiday/moratorium period?

Holiday period or moratorium is the tenure, which commences from the disbursal of the loan to the time the borrower makes his/her first Equated Monthly Instalment (EMI) payment. The repayment does not start in this period. A holiday period is the maximum time a student gets before he / she can start paying back the principal loan in the form of EMIs. At Avanse, the holiday period is 6 months after the course is completed or 3 months after the candidate has obtained employment, whichever is earlier. It is to be noted that though EMI repayments are generally not due during the holiday period for full-time, masters level courses, it is financially beneficial for the borrower/s if he/she is able to start repaying EMI during the moratorium itself. The principal moratorium option (i.e. simple interest repayment during the course) is generally not offered for courses that are at the bachelors level or are part-time in nature.

24. How is the disbursement of Avanse education loan to a customer made?

The education loan amount is disbursed in Indian Rupees. The tuition and hostel fee will be directly disbursed to the educational college/institute/university, in instalments, as per the requirement of the specific educational institute. The loan amount related to other expenses will be disbursed in instalments, spread over the duration of the study and ideally will be transferred to the co-applicant’s account. In case the student does not reside at the hostel, the fee will be transferred to the co-applicant’s account. However for courses outside India, the loan amount shall be transferred as per agreement with the third party i.e FOREX service provider.

25. What do you mean by recognized and reputed institutes?

Recognized institutes refer to those that are affiliated to the State/Central universities and come under the Central Government University Grants Commission (UGC) programs or the All India Council on Technical Education (AICTE). The majority of the colleges in India fall within the ambit of the UGC and AICTE. Reputed institutes on the other hand are those that are pretty well known and have standard courses of repute. The definition of reputed institutions might vary with financial institutions. At Avanse we usually have a list of colleges and institutions that are considered reputed.

26. How are student’s fees disbursed for the 2nd and 3rd year of the course duration?

At the initial stage of application for an education loan with us, we verify the tenure of the course, fee tranches, and determine the cost of the entire course, as applicable at that point of time. Then, each year, the applicant is required to submit a form available at Avanse that gives the details of the subsequent fee requirement, and then the same is disbursed directly to the college/institute/ university.

27. Does Avanse ask for 100% security value for their education loans?

No, the security coverage depends on the applicants merit and credit-worthiness and varies from case to case. Though, we advise that each customer offers the maximum collateral they have, as it opens up ample options for maximum loan eligibility and competitive interest rates during structuring.

28. What security does one need to provide while applying for an education loan at Avanse?

Security for the loan is determined by the quantum of loan required and the credit worthiness of the principal borrower. At Avanse the following types of Collateral Security are accepted : Residential property (house/flat/apartment/plot) Fixed deposit assigned to Avanse Life insurance with surrender value equivalent to required security coverage. Commercial property/non-residential property as per Avanse policy.

Study in India

The student taking the study loan must be an Indian citizen, 18 years old or above.

There must be confirmed admission in the Institute before final disbursement of the education loan.

COURSES

Graduation, post-graduation and professional degree/diploma courses conducted by colleges/universities approved by UGC/AICTE/IMC/Govt. etc.

Technical/professional courses like engineering, medicine, law, management, aviation etc.

Degree/diploma courses offered by autonomous institutions like IIT, IIM etc and approved by Avanse Financial Services Ltd.

Courses offered in India by reputed foreign universities.

Vocational training, executive programs and other courses that have been approved by Avanse Financial Services Ltd.

Margin

At Avanse we do not ask for any margin money contribution from our applicants. Like our study abroad loans, our study in India loans are designed to provide 100% coverage of the cost of education, thus making it easy for the student and the co-borrower.

Loan Coverage

100% tuition fee as determined by the institute or university.

Living expenses including purchase of books, computers and other expenses essential to complete the course (up to 75% of total living cost, though not exceeding 20% of the total tuition fee).

Caution deposit/building fund/refundable deposit, supported by institution bills/receipts but not exceeding 10% of the total tuition fee.

Study Abroad

The student taking the study loan must be an Indian Citizen and 18 years old or above.

There must be confirmed admission in the Institute before final disbursement of the education loan.

COURSES

Graduation/ Post-graduation for job oriented professional/ technical courses offered by reputed universities outside India as well as courses and universities approved by Avanse for education financing.

Margin

At Avanse we do not ask for any Margin money contribution from our applicants. Our study abroad loans are designed to provide 100% coverage of the cost of education, thus doing away with this burden, leaving you to focus on your studies.

Loan Coverage

100% Tuition Fee as determined by the Institute or University

Living Expenses including purchase of Books, Computers and other expenses essential to complete the course (up to 75% of total living cost though not exceeding 20% of the total tuition fee)

Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts but not exceeding 10% of the total tuition fee.

Travel expenses / passage money up to Rs. 75000/- for students travelling abroad.

Executive Education

The student taking the study loan must be an Indian Citizen and 18 years old or above.

There must be confirmed admission in the Institute before final disbursement of the education loan

The student loan must be co-signed by an earning co-borrower in India.

CO-BORROWERS

The co-borrower of abroad studies loan must be an Indian Citizen and could be a Parent, Sibling, Legal Guardian, or any other Relative.

The co-borrower must have a bank account in any bank in India with cheque writing facilities

The Co-borrower would necessarily be the primary debtor.

COURSES

Graduation/ Post-graduation for job oriented professional/ technical courses offered by reputed universities outside India as well as courses and universities approved by Avanse for education financing.

Margin

At Avanse we do not ask for any Margin money contribution from our applicants. Our study abroad loans are designed to provide 100% coverage of the cost of education, thus doing away with this burden, leaving you to focus on your studies.

Loan Coverage

100% Tuition Fee as determined by the Institute or University

Living Expenses including purchase of Books, Computers and other expenses essential to complete the course (up to 75% of total living cost though not exceeding 20% of the total tuition fee)

Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts but not exceeding 10% of the total tuition fee.

Travel expenses / passage money up to Rs. 75000/- for students travelling abroad.

Educational Loan Refinancing

Who should opt for Student Loan Refinancing?

Students with existing student loans who are currently pursuing their studies in India or abroad.

Students who have completed their studies and are about to start or have already started their student loan repayments.

Working Professionals servicing an existing student loan.

Co-Borrower:

Indian Nationals /Indian Passport Holders/NRI Working in India with OCI card

Relationship accepted for Income Eligibility: Father/Mother/Brother/Sister/Brother in Law.

Relationship accepted for Security with Property as collateral:Father/Mother/Brother/Sister/Maternal Uncle/Paternal Uncle/Grand Parents & Friends.

Courses: All accredited courses in India or Overseas

Loan Amount: Rs 2, 00,000 – Max Rs 100, 00,000

Collaterals Accepted: House/Flat, Residential Plot, Non-Agricultural Land, Fixed Deposit

About Avanse

Avanse is a new age education finance company. it is an Associate Company of Dewan Housing Finance Ltd. (DHFL), a leading player in the housing finance sphere. Avanse is a Non Banking Finance Company (NBFC) and is regulated by the Reserve Bank of India.

Avanse Highlights

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Educational Loan Can Be Used For Many Purposes Like Below

Higher Studies

For IIMs, IITs and ISB

For PG Diploma

Foreign Education

To Join in B Pharmacy or M Pharmacy

To Join in B.Tech or M Tech

University Education

Domestic (Indian) Education

About Educational Loans

Accepted Collateral and documentation

Educational Loans will be available for following students:

Indian students attending overseas colleges and

Indian students attending colleges in India

Educational Loan covers the following

All of the tuition fees as applicable for the college/University 

Up to 100% of other expenses including

Living and hostel expenses

Examination fees, 

Library/laboratory fees, 

Purchase of books / equipments/instruments/uniforms

Purchase of computers / laptops considered necessary for completion of the course. 

Travel fare restricted to one economy class return ticket between India and the country of study, if applicable

Eligibility

Borrower must be an Indian citizen and must be 18 years of age or older

Co-borrower(s) must be an Indian citizen

Co-borrower(s) must have a bank account in any bank in India 

Confirmed admission in to the colleges before Educational Loan disbursement

Borrower and Co-borrower(s) must meet Banks/Financial Institution credit and underwriting norms as applicable from time to time.

Guarantor/Co-borrower Requirements

Borrower must be an Indian citizen and must be 18 years of age or older

It is mandatory to bring in an earning co-borrower(s) based in India to support the Education Loan application.

It is mandatory to bring in an earning co-borrower(s) based in India to support the Education Loan application.

Guarantor/Co-borrower(s) may be any of the following relatives, viz Father / Mother / Brother / Sister(married) /Spouse, where such co-borrower's income would be considered in determining the loan eligibility. And property related to: Father-in-law; Mother-in-law; Sister-in-law; Brother-in-law; Maternal or Paternal Uncle or Aunt, Grandparents also can be accepted.

Guarantor/Co-borrower's liability is co extensive with the Student; 

Guarantor/Co-borrower(s) to provide documentary proof to establish their relationship with the student, to the satisfaction of Bank/Financial Institution;

Loan Amount

Borrower must be an Indian citizen and must be 18 years of age or older

Minimum Loan Amount: Rs. 1,00,000 – Rs. 30,00,000

Rate Of Interest

Rate of interest will be floating rate of Interest, generally linked with the base rate of the banks, Present Scenario the Rate of Interest will be 11.5% to 15.0%.

Rate of Interest vary on account of a number of factors such as student's academic background, employability of the selected course from a selected college and country of study, financial strength of the co-borrower, loan repayment capability, credit history, collateral offered or not.

Loan Disbursement

The loan amount will be disbursed in Indian Rupees

The loan will be disbursed in India in Indian Rupees which can be converted to foreign currency for payment of university fees by the student wherever required.

Bank/Financial Institution disburses the tuition fee to the educational institute either directly or through an authorized servicer.

The tuition fee will be disbursed in installment as per the requirement of the specific educational institute.

Repayments of the loan to be made by the borrower in Indian rupees only.

Loan Re-payment Terms

Loan interest re-payment will start immediately after disbursement of the first installment of the loan.

Tenure of an education loan consists of:Duration of Study + free look Period after the Study + Repayment tenor

Maximum tenure up to 10 years

The loan tenure is however, subject to the factors such as the repayment capacity of the customer/s, future prospects of the course, age of the co-applicant, etc. and further subject to credit and underwriting norms as applicable from time to time.

Monthly repayment amount will be deducted from the bank account of the borrower/co-borrower using Electronic Clearing System (ECS).

Problems (at) Educational Loans

The amount of margin money required cannot be raised by the student.

Students who want to study abroad may need to take a loan that is more than the value of the collateral put up.

Income level of the guarantor is too low or the guarantor doesn't have credible Credit Score record.

It is difficult to prove that the college the applicant is going to is a valid college.

Applicant's documents are not in order.

If a student is studying abroad, there are a lot of formalities to be fulfilled and the student may not have accounted for the time that will be consumed.

ApnaLoanBazaar will help you to complete all the formalities with in a smooth manner to avail the Educational loan.

In today's scenario a lot of banks are apprehensive about funding studies abroad. The costs are huge and there is little guarantee that the applicant can get a job there after his/her course is over. You also have to take into account that the number of fake institutions abroad are rising and duping gullible students.

There is no one in the applicant's close family who has a credit score history.

Expert Advice

Best Practices for Educational Loan

Pay interest of Educational loansince from the availing of loan from Bank/Financial Institution.
Otherwise, once you graduate that interest will begin to accumulate interest as well, which is called compound interest. 
Try to get the collateral backed loan, which will cost you lesser Rate of Interest and Easy process of loan.
Try to get financial aid from the colleges to meet your educational needs, this will help you to reduce the Educational loan burden on you to further extent.
After you graduate, take the opportunity to pay down the principle of your loans while you're in a position to pay. Typically, loans are on deferment for six months after your graduation. This is so you have time to find a job.

Things not to do for Educational Loan

Don't rely on your parents to repay out a loan.
Some Banks give you more money than what you owe in tuition. These are called refunds. Don't take out loans that are in excess of your tuition. 
Try to meet other college costs by using your savings or setting up a payment plan.
Loans that provide refunds can only cause temptation. 
If you do get a refund, don't spend it. This money is supposed to be used for meal plans, supplies or books. When you receive that check, don't be foolish and use it on personal things. 
Don't assume that everything in your paperwork is what it should be. Make sure to read over all forms you receive. Most promissory notes explain what you must pay back and when you must begin to pay it. Be sure that you agree to all terms before signing anything! 
7. Don't take too much time off of school. If you choose to take a semester off, you'll be fine, but if you take off more than that, banks will begin to send you bills for your loans.

Basics of Educational Loans

There are three factors that you need to understand before applying for a Educational loan: Margin, Collateral and Repayments.

1) Margin:

Margin is the minimum amount that you have to pay as fees.

Margins vary from 5% to 20% depending on the loan taken and whether the educational institution is in India or abroad.
2) Collateral:
Generally banks will ask for collateral security for all educational loans valued above Rs. 10.0 lakhs, however for the less than Rs. 10.0 Lakhs, banks obtains necessary personal guarantees from the parents or blood relatives or any collateral as per bank comfort. Collateral will be inform of Residential or commercial upto 100% of the coverage of educational loans.
3) Repayment:

Repayment will generally starts from the six months from the completion of course, it can be vary from 6 months to 12 months as per the course discretion.

Simple interest is charged on the loan until the course ends. This interest (including holiday period interest) is added to the principal amount and the EMI is fixed. After six months, interest is charged on a reducing rate.

Banks may provide a 1% concession if the interest is serviced (paid) during the study and holiday period. In case you can service the interest, ask for the concession.

Caution: Repayment of Educational Loans

Your education loan is often the first liability of your credit history with the Bank. Do not default on your education loan. Defaulting on your education loan will make a worse impact on your Credit Score, it is difficult for you to repair your credit history after defaults the Educational Loan. Defaulting shows that you have failed the first credit test that you have been availed. Students, who have taken loans without any collateral, may assume that simply relocating from the address they have submitted to the bank means that they can get away from not paying their loan. This is not true.

When you take a loan, the bank submits your details to a credit bureau such as CIBIL and that's when you are entered into credit records. Your credit report has your name, address, and all your credit history (any credit cards you have owned, a personal loan you have taken and so forth).

Once you are registered with any of the four credit bureaus: CIBIL (you don't have to register, the banks will do that. You don't have a choice), all your details will be available to any banks from the credit bureau.

Try and service your interest during the study and holiday period. This may mean getting a part-time job. It may not be possible if you are studying in India but abroad it can be done.

If you can't make a payment on your own, borrow from family and friends. We cannot stress on how important it is that you don't default on your education loan.

If you get a job before the holiday period is over, service the interest. Start paying the loan only once you have been confirmed.

Do not make use of the entire duration of the loan period to pay off your loan. It suggests that you take too much time to pay off your debt. If you have a 7 year period, try and pay it off in 5 years.

About Kolkata

"Kolkata also known as Calcutta is the capital of the Indian state of West Bengal. Located on the east bank of the Hooghly River, the city is regarded as the cultural capital of the country. It is at the same time the financial capital of eastern India, a gateway to the far-flung areas of the region. It is largely a British creation and was the capital of British India till the beginning of the 20th century.

The city slowly gained ground and importance till 1756 when Siraj-ud-daulah Nawab of Murshidabad attacked the town. Most of the British fled the city but the unfortunate ones became prey to what came to be later known as the Black Hole of Calcutta. The independence of India and the end of the 20th century saw a positive change in Kolkata - from power to transport to telephones, a lot of the once crumbling infrastructure has now improved.

"

Places To Be Visited In Kolkata

Santiniketan

    Santiniketan, literally means abode of Peace and a place reverberating with the memory of the great poet Rabindranath Tagore, is the embodiment of peace and tranquility and the world renowned Visva Bharathi University is located at this place. Here in this University and in Santhiniketan cultures of west and east meet together for common cause of World Peace and it attracts many talented students from all India and other foreign countries. It has the stature of a spiritual meeting place in a serene, artistic and culturally rich secluded environment.

Victoria Memorial

    The Victoria Memorial was built in the memories of Queen Victoria after her death in 1902. it was opened to general public in the year 1921. The magnificent building was designed by William Emerson, a famous architect of that era. The cost of construction that time amounted to Rs.10.5 million which was voluntarily donated by British and Indian people. Inside the Memorial there are various painting of the Royal British families, royal and historic artifacts, lithographs and documents of the historical interests. Today the monument is a major landmark of Kolkata.

Howrah Bridge

    Howrah Bridge of Kolkata is also known as Rabindra Setu. The Howrah Bridge of Kolkata is the busiest bridge in the world. The bridge caters to about 1,00,000 vehicles and uncountable pedestrians. The bridge is 450 meter long and it stands over Hooghly River without any pylon. The bridge is the best example of the 20th century engineering techniques. today it is one of the most visited tourist attraction in Kolkata.

Fort William

    The Fort is named after King William III of England. Fort William was constructed in 1781 to mark the victory of Robert Clive over Sir David Ochterlony at Plassey. The large patch of garden that surrounds the fort is called the maidan. The Maidan is 3 kilometer long and 1 kilometer wide. It is the largest urban park in Kolkata. Within the Fort’s premise there lies a church, cinema, boxing stadium, market, football ground, post and telegraph office, swimming pool and firing range.

Dakshineshwar Kali Temple

    As the name says, the temple is dedicated to Goddess Kali. The construction of the temple started in the year 1847. The founder of this temple is Rasmani, the queen of Janbazar. The temple is located on the banks of Hooghly River. The main deity of temple is Bhavatarini who is a form of Devi Kali. It is believed that the person who worships Devi Bhavatarini, will overcome all his sorrows and problems. The temple is spread over 25 acres of land that includes the temple premise and the surrounding gardens.

St. Paul’s Cathedral

    The St. Paul’s Cathedral is built on the basis of Indo-Gothic architectural style and was designed by Major William Nairn Forbes. The foundation of the building was laid in 1839. It took eight long years to complete the construction. The main building was destroyed twice because of the massive earthquakes and was rebuilt. The last time it was destroyed in 1934 and was re-built on the lines of the Bell Harry Tower of Canterbury Cathedral.

Total Number Of Branches In Kolkata (2168)

STATE BANK OF INDIA (317 Branches)BANDHAN BANK LTD (241 Branches)UNITED BANK OF INDIA (151 Branches)ALLAHABAD BANK (110 Branches)UCO BANK (104 Branches)ICICI BANK LTD (101 Branches)HDFC BANK (98 Branches)PUNJAB NATIONAL BANK (85 Branches)BANK OF BARODA (75 Branches)AXIS BANK (73 Branches)INDIAN OVERSEAS BANK (69 Branches)CANARA BANK (63 Branches)CENTRAL BANK OF INDIA (62 Branches)UNION BANK OF INDIA (61 Branches)BANK OF INDIA (60 Branches)SYNDICATE BANK (45 Branches)ORIENTAL BANK OF COMMERCE (34 Branches)VIJAYA BANK (32 Branches)INDIAN BANK (32 Branches)IDBI BANK (32 Branches)DENA BANK (27 Branches)KOTAK MAHINDRA BANK LTD (26 Branches)CORPORATION BANK (25 Branches)BANK OF MAHARASHTRA (20 Branches)ANDHRA BANK (20 Branches)FEDERAL BANK (19 Branches)PUNJAB & SIND BANK (16 Branches)STANDARD CHARTERED BANK (15 Branches)STATE BANK OF BIKANER & JAIPUR (15 Branches)INDUSIND BANK (14 Branches)ING VYSYA BANK (14 Branches)YES BANK (13 Branches)SOUTH INDIAN BANK (12 Branches)STATE BANK OF HYDERABAD (10 Branches)STATE BANK OF MYSORE (9 Branches)KARNATAKA BANK LTD (9 Branches)KARUR VYSYA BANK (7 Branches)HSBC BANK (7 Branches)STATE BANK OF TRAVANCORE (6 Branches)STATE BANK OF PATIALA (4 Branches)RBL Bank Limited (4 Branches)DHANALAXMI BANK (4 Branches)DCB BANK LTD (3 Branches)CATHOLIC SYRIAN BANK LTD (3 Branches)THE ROYAL BANK OF SCOTLAND N V (3 Branches)LAKSHMI VILAS BANK (2 Branches)CITI BANK (2 Branches)CITY UNION BANK LTD (2 Branches)STATE BANK OF INDIA (2 Branches)JAMMU & KASHMIR BANK LTD (2 Branches)DEUSTCHE BANK (1 Branches)DEVELOPMENT BANK OF SINGAPORE (1 Branches)IDFC BANK LTD (1 Branches)BANK OF AMERICA (1 Branches)B N P PARIBAS (1 Branches)BHARATIYA MAHILA BANK LTD (1 Branches)RESERVE BANK OF INDIA (1 Branches)TAMILNAD MERCANTILE BANK LTD (1 Branches)
11-11-2017, 14:56
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