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If you're looking for a student loan to pay for your education, whether it's in India or overseas, and you live in Khammam, this post is for you. Based on available data, students in Khammam usually require an education loan of approximately 15 lacs for in-country studies and 45 lacs for out-of-country studies. The interest rates for education loans in Khammam varies from 8.30% to 13.5%, depending on the type of loan and lender. Additional details are provided below.
Bank Name | Loan Amount | Processing Fee |
---|---|---|
State Bank of India |
Up to INR 50 lakh |
Nil - INR 10,000+Tax |
Axis Bank |
Up to INR 75 lakh (unsecured) |
Up to 2% of the amount+GST |
ICICI Bank |
Up to INR 1 crore |
Up to 2% of the amount +GST |
IDFC First |
Up to INR 30 lakh (unsecured) |
Up to 1.5% of the amount |
UBI |
Up to INR 1.5 cr (secured) Up to INR 40 lakh (unsecured) |
INR 5000 (refundable) |
HDFC Credila |
Up to INR 40 lakh |
1% + GST |
Auxilo |
Up to INR 65 lakh |
Up to 2% of the sanctioned loan amount |
InCred |
Up to INR 60 lakh |
0.75% - 1% of the sanctioned loan amount |
BOB |
INR 7.5 lakh - INR 1.5 cr |
1% (max. INR 10,000) |
Check Your Education Loan Eligibility
Bank Name | Loan Amount | Processing Fee |
---|---|---|
Up to INR 1.5 cr with collateral |
INR 10,000 |
|
Prime A - INR 1 cr Prime B - INR 40 lakh |
0.75% on the sanctioned loan amount |
|
Up to INR 2 cr (secured) Up to INR 1 cr (unsecured) |
Up to 0.75% to 1% + GST |
|
Up to INR 75 lakh without collateral |
Up to 1.5% of the sanctioned loan amount |
|
Up to INR 2 cr (secured) Up to INR 40 lakh (unsecured) |
INR 5000 |
|
Up to INR 75 lakh |
0.5% - 1% |
|
Up to INR 75 lakh |
1% - 1.5% |
|
Up to INR 65 lakh |
0.5% - 1.5% |
|
Up to INR 80 lakh |
1% - 2% |
|
Up to 100,000 USD |
5% (adjusted in the loan amount) |
|
Up to 100% cost to study |
Up to 5%, added to loan amount* |
|
Up to 1.5 cr with collateral |
INR 10,000 + GST |
*Note: Upon loan approval, students are required to pay an upfront fee of $100 to receive their sanction letter.
The list of documents needed to obtain an education loan in Khammam is provided below.
All documents need to be self-attested.
If Salaried:
If self-employed:
Calculate your Education Loan EMI
To begin the secured education loan application procedure, you will additionally need a few collateral documents in addition to the paperwork listed above. The following paperwork needs to be submitted when real estate is pledged as security.
Note: The following requirements and exclusions must be met in order to be eligible for a secured education loan for a Telangana-based or located property:
Bank Name | Interest Rate | Interest Rate Concession |
---|---|---|
State Bank of India |
Starts from 8.30% |
0.60% Business strategy discount 0.50% - for female students 0.50% - Rinn Raksha |
Axis Bank |
Starts from 11.5% |
0.5% - 2% |
ICICI Bank |
Starts from 10.5% -11% |
0.5% - 2% |
IDFC First |
Starts from 8.5% - 10% |
0.5% - 2% |
UBI |
Starts from 11.15% |
0.5% for female students 1% if the SI is paid in full |
HDFC Credila |
Starts from 10.25% - 12.75% |
- |
Auxilo |
Starts from 11% - 13.5% |
0.5% - 2% |
InCred |
Starts from 11% - 13.5% |
0.5% - 2% |
BOB |
Starts from 8.85% |
0.5% |
Check Your Education Loan Eligibility
Bank Name | Interest Rate | Interest Rate Concession |
---|---|---|
State Bank of India |
Starts from 10.15% |
0.5% concession in interest for female students 0.5% - Rinn Raksha |
Axis |
9.99% - 12.5% |
- |
ICICI |
10.25% - 12.5% |
- |
IDFC First |
9.5%-11% (secured) 11%-13% (unsecured) |
- |
UBI |
9.25% - 9.75% |
- |
HDFC Credila |
10.25% - 12.75% |
- |
Avanse |
10.75% - 13% |
- |
Auxilo |
11.5% - 13% |
- |
InCred |
11.85% - 13.25% |
- |
MPower |
12.99% - 15.99% |
- |
Prodigy |
11.5% - 13.5% |
- |
BOB |
9.7% (fixed) |
0.20% concession in interest for female applicants of non-premier institutes |
The following costs are reimbursed by bank loans or nonbank financial corporations (NBFCs):
Most Hyderabad-based banks have a moratorium period of either one year or the course duration plus six months. Public banks, private banks, and non-bank financial companies all have varying loan repayment terms during the moratorium period. Simple interest is assessed on the loan amount in public banks; however, borrowers are not required to pay simple interest during the moratorium period. Compound interest must be paid throughout the moratorium period in private banks. EMI is due on NBFCs during the moratorium period.
A proportion of the total loan amount that must be arranged by the applicant or student is known as loan margin. For instance, if the loan amount is approximately 40 lakhs and the lending margin is approximately 5%, the student would need to make arrangements for 2 lakhs before the loan could be approved.
The loan margin at public banks is typically 10% of the entire loan amount. The lending margin in private banks varies from five to ten percent.
Collateral margin is the percentage of the total loan amount that is secured by collateral. For secured loans, the collateral margin is typically computed. Banks utilize the collateral provided by the applicant or student to recoup the outstanding balance in the event that the borrower is unable to repay the loan.
Check Your Education Loan Eligibility
Students who approach lenders directly in hopes of obtaining an education loan are typically met with refusal. Banks may decline to approve a student loan for a variety of reasons.
Are you in Khammam and looking for ways to finance your education, either domestically or internationally? GyanDhan stands out as your ultimate resource, guiding you through the maze of securing an education loan that suits your needs. With our specialized guidance, you can obtain education loans with competitive terms and enjoy a high success rate in approvals. Furthermore, our team is ready to facilitate the pre-visa disbursement process, ensuring your study abroad venture begins on solid ground. What's more, you get all this professional assistance without any charge. Dive into your academic journey by check your loan options with GyanDhan today.
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