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Yes Bank Abroad Education Loan Parameters

sbi bank

Loan Limit

Upto: 1Cr

sbi bank

R.O.I

10.99 %

sbi bank

Moratorium\Repayment

12 Months \ 15 Years

Feature

Description

Margin Money

15%

Processing Fee

1% + GST

Processing Time

20 - 25 days

Prepayment Charges

Nil

Study Level & Course
  • Professional and technical courses offered by reputable institutions for career improvement.
  • Post-graduate programs including MCA, MS, and MBA.
  • Professional courses offered by CIMA-London and CPA-USA.
  • Diploma and degree programs in pilot training, shipping, and aeronautics that have been approved for employment by regulatory organisations in India and overseas.

Expenses Covered
  • Examination, library, and laboratory fees.
  • Course fees.
  • Travel expenses.
  • Health insurance (if applicable).
  • Caution fee requested by the university
  • Expenses for books, equipment, instruments, and uniforms.
  • Equipment expenses
  • Miscellaneous expenses.
  • Eligibility for scholarships will be considered at the time of calculating the loan amount.

Property Acceptable
  • Liquid property (LIC policy, fixed deposit, government bonds): Minimum value: 1.1 times the requested education loan amount.
  • Immovable property (non-agricultural land, house, flat): Minimum value: 1.25 times the requested education loan amount.

Collateral & Non-Collateral

Yes

Co-Applicant:
  • Parents
  • Parents-in-law
  • Spouse
  • Siblings

Offer Letter
  • Yes

Eligibility:-

  • Professional and technical courses offered by reputable institutions for career improvement.
  • Post-graduate programs including MCA, MS, and MBA.
  • Professional courses offered by CIMA-London and CPA-USA.
  • Diploma and degree programs in pilot training, shipping, and aeronautics that have been approved for employment by regulatory organisations in India and overseas.

Benefits:-

  • Save income tax under Section 80E on the interest paid.
  • Hassle-free disbursal with a quick process for timely loan disbursement.
  • Flexible tenure and repayment options to suit your needs.
  • Attractive interest rates for female students with competitive simple interest on the education loan.
  • Loan available for working executive programs or management development programs

How To Apply:-

  • Apply online and upload your documents.
  • Processing and approval of your loan application.
  • Loan sanction and disbursal.

Documents:-

  • KYC documents of the applicant and co-applicants (such as identity proof, address proof, etc.).
  • Academic Records
  • Proof of admission to the educational institution.
  • Entrance exam results (if applicable).
  • Statement of the cost of study or schedule of expenses.
  • Income proof for salaried co-applicant or guarantor (if applicable).
  • Bank account statements for the last 6 months.
  • Property Documents (if applicable)

FAQs

Yes bank provides education loans to students planning to study abroad up to 40 Lakhs.

Loan processing and approval do not take much time at Yes Bank. It takes somewhere around 3- 5 working days for disbursement.

There are multiple reasons why an individual should apply for an education loan at Yes Bank.

  • ● Unsecured Loan
  • ● Tax Benefits
  • ● Easy loan disbursement

For loans over 40 lakhs, there is a need for collateral. Otherwise, students can apply for loans without collateral. Also depends on the course and country.

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