Indian Bank Education Loan 2023 Check Eligibility, Intrest Rate and Repayment Method

Important steps related to Indian Bank Education Loan 2023 need to be known from this article. From here you can know the eligibility criteria, Intrest Rate and Repayment Method.

Students often look towards education loans for higher education. Although many banks provide loans for higher education. So that students can achieve their academic goals. But every bank has a different procedure in the matter of giving education loan. In this article, we will explore all the important details related to Indian Bank Education Loan, including eligibility criteria, application process, repayment options, etc.

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Indian Bank Education Loan 2023 Brief Summary

All you need to know is the brief summary of Indian Bank Education Loan 2023 from this table.

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Bank Name	Indian Bank
Max Tenure	NA
Education Loan Best Rate	8.50%-9.65%
Processing Fee	NIL
Indian Bank Education Loan Repayment	Starts After 1 year of course completion OR 6 months after getting a job
Indian Bank Official Website	indianbank.in

Indian Bank Education Loan Eligibility

To avail an education loan from Indian Bank one has to fulfill the eligibility criteria of the bank. In this way, the eligibility criteria for education loan is almost the same for all banks. Still there are some factors which differ from one bank to another.

• Student must be a resident of India.
• 12th pass with minimum 60% marks is mandatory.
• The student should have been admitted into an institute approved by the bank.

Education Loan for Abroad 2023: Top Loan Providers, Interest, Eligibility

Indian Bank Education Loan Amount

Indian Bank provides education loan on the basis of many schemes. Check out the following education loan schemes and interest rates.

Schemes Name	Maximum Loan Amount	Interest Rates
Indian Bank Student Loan	Rs.20 lakh	10.05%
Indian Bank Scholar Loan	Rs.40 lakh	8.95% to 9.25%
Indian Bank Global ED-Vantage	Rs.1.5 crore	10.05%
Indian Bank Skill Loan	Rs.1.5 lakh	9.55%
Indian Bank Take Over of Education Loan	Rs.1.5 crore	10.05%

Indian Bank Education Loan Calculator

Do you want to know the anticipated amount of your loan repayments before applying for an Indian Bank Education Loan? Using the Indian Bank Education Loan Calculator, you may estimate your monthly installment and organise your money accordingly. You may use the calculator to evaluate your potential payback responsibilities by inputting the loan amount, interest rate, and loan term.

SBI Education Loan Apply Online 2023

Document List of Indian Bank Education Loan

You should collect the following documents while taking an education loan from Indian Bank.

Documents List (From Both Applicant & Co-applicant)

KYC Documents	PAN Card Driving License Aadhar Card
Address Proof	Aadhar Card Valid water/electricity/ LPG Bill Voter’s ID card Current House Lease Agreement Valid Passport
Academic Documents (From Applicant)	All Academic Documents Proof of Admission

Financial Documents (From the Co-Applicant)

For Salary Person	Salary slips Copy of Form 16 for last 2-3 years  IT Returns for last 2-3 financial years Bank account statement
For Self-employed Person	Business address proof (If Applicable) TDS Certificate (Form 16A, if applicable) Last 3 years ITR Bank Account statement for the last 6 months

Benefits of Indian Bank Education Loans

• Education loan provided by Indian Bank is affordable because of its competitive interest rates.
• Indian Bank has flexible repayment methods.
• Indian Bank’s Student Education Loan scheme covers a wide range of education expenses.
• Under Section 80E of the Income Tax Act, borrowers can avail tax deductions on the interest paid on education loans, reducing the overall financial burden.

Indian Bank Education Loan Apply Online

Applying for an education loan from Indian Bank is easy, you can apply online by following a few simple steps given below.

• It is important to research the interest rates, repayment terms, loan amounts and additional benefits before applying for an education loan from Indian Bank.
• Visit the official website (indianbank.in/category/loans/education/) of Indian Bank to apply for education loan online.
• Check eligibility criteria. You have to make sure that you fulfill all the criteria like age, educational qualification and admission in a recognized educational institution.
• After checking the eligibility criteria all the required documents have to be collected.
• Fill the online application form for education loan carefully. Upload your document.
• Do a review before submitting the application.

FAQs about IB Education Loan