Table of contents<\/h2>- Purpose & Major Features of PGB UDAAN Education Loan<\/a><\/li>
- Who is Eligible to Apply for this loan scheme?<\/a><\/li>
- Maximum Amount of Loan Sanctioned<\/a><\/li>
- Collateral Requirements Under the Loan Scheme<\/a><\/li>
- Rate of Interest Under the PGB UDAAN Education Loan<\/a><\/li>
- FAQs on PGB UDAAN Education Loan<\/a><\/li><\/ul><\/div>\n\n\n\n
Purpose & Major Features of PGB UDAAN Education Loan<\/span><\/h2>\n\n\n\nAs already stated, this loan scheme aims to provide education loans to students interested in studying abroad. Apart from providing an education loan, the bank also offers an insurance premium to student borrowers on a case-to-case basis.<\/p>\n\n\n\n
The scheme offers need-based finance to students subject to margin requirements as per the bank\u2019s guidelines. The rate of interest for this loan scheme starts from 11.25% p.a. and there are no prepayment penalties. The image below encapsulates some of the other features of this loan scheme.<\/p>\n\n\n
\n![\"\"](\"https:\/\/lh7-us.googleusercontent.com\/r_QEWn2eCpiFLoEW2JFkq09-Z7sKs4QPfaiOt6JurYX5UUjCRSSm5aHGBJObywVnH0z6yeDOCrc2JM5xWQNZjdBzZJO-yqUnchqA07uw9gD_LudAftoH39SOm0XRE_gNf4ERQF66azVIE26aOKq5dgQ\")
<\/figure>\n<\/div>\n\n\nAlso Read: You must read our blog<\/strong> on <\/strong>Why Education Loan Insurance<\/strong><\/a> is a must-have for students<\/strong><\/p>\n\n\n\nWho is Eligible to Apply for this loan scheme?<\/span><\/h2>\n\n\n\nThe eligibility criteria on the bank\u2019s website mention that a student should be a resident Indian to be eligible for this scheme. Additionally, the student should have secured admission to a higher education course in a recognised institution abroad through an entrance test or merit-based selection process. The student should have completed his\/her HSC (10 plus 2 or equivalent) to be eligible for this scheme.<\/p>\n\n\n\n
Maximum Amount of Loan Sanctioned<\/span><\/h2>\n\n\n\nThe bank\u2019s website mentions that the loan is provided on a need-based basis which is subject to loan margin requirements as per the guidelines of the bank. Students must contact a bank\u2019s representative or visit its nearest branch to know the maximum amount of loan that they can get under the scheme. The bank also provides the option of reimbursement of fees paid by the students within six months of payment. However, the reimbursement is considered on individual merits of the case and you will have to reach out to the bank\u2019s representative to understand the details as per your specific case.<\/p>\n\n\n\n
Also Read: Check Out this Blog on <\/strong>How To Apply For a Vidya Lakshmi Education Loan Through the YONO App?<\/strong><\/a><\/p>\n\n\n\nCollateral Requirements Under the Loan Scheme<\/span><\/h2>\n\n\n\nBelow are the collateral or security requirements with respect to the scheme-<\/p>\n\n\n\n
\n- For Loans up to INR 7.50 Lakhs: <\/strong>For students taking loans up to INR 7.5 Lakhs, co-obligation of parents along with collateral security in the form of a third-party guarantee is required. However, in some cases, the third-party requirement can be waived depending on the net worth of the student\u2019s parents who would be executing the documents as joint borrowers.<\/li>\n\n\n\n
- For Loans Above INR 7.50 Lakhs: <\/strong>When a student takes a loan above INR 7.50 Lakhs, his or her parent(s) or guardian should be included as joint borrower(s). A tangible collateral security of suitable value acceptable to the bank is also required. You\u2019ll have to ask the bank to know more about property accepted as collateral security for education loan<\/strong><\/a>.<\/li>\n<\/ol>\n\n\n\n
Rate of Interest Under the PGB UDAAN Education Loan<\/span><\/h2>\n\n\n\nIt is crucial to know about education loan interest rates<\/strong><\/a> while applying for a loan. As per the bank\u2019s official website, the rate of interest rate for this scheme starts from 11.25% p.a. However, this rate of interest is subject to change from time to time and you\u2019ll have to contact the bank to know about the latest interest rate when you apply for the loan.<\/p>\n\n\n\nFAQs on PGB UDAAN Education Loan<\/span><\/h2>\n\n\n\nWhat is the aim of the PGB UDAAN education loan?<\/strong> The aim of the PGB UDAAN education loan is to provide loans to students who want to study abroad for higher education.<\/p> <\/div>
What is the interest rate for this loan scheme?<\/strong> The interest rate for this loan scheme starts from 11.25% p.a. However, the bank\u2019s website mentions that this interest rate is subject to change. A student should contact the bank to check the latest interest rates.<\/p> <\/div>
Who is eligible to apply for this loan scheme?<\/strong> The bank\u2019s website mentions that a resident Indian who has completed his HSC (10 plus 2 or equivalent) and has secured admission to a recognised foreign university is eligible to apply for this loan scheme.<\/p> <\/div>
What is the maximum amount of loan available under the PGB UDAAN education loan?<\/strong> The bank provides a need-based finance under this scheme. In a few cases, the bank also provides reimbursement of fees paid within six months of payment by the student.<\/p> <\/div>
What expenses are covered under this loan scheme?<\/strong> The following are the expenses covered under this scheme-
This blog was all about the details regarding the PGB UDAAN education loan scheme to study abroad. To know more about such loan schemes, the best international bank accounts for students<\/strong><\/a>, forex and banking experience for global students, or international money transfers<\/strong><\/a>, reach out to our experts at 1800572126 to help ease your study abroad experience.<\/p>\n\n\n\n
Purpose & Major Features of PGB UDAAN Education Loan<\/span><\/h2>\n\n\n\nAs already stated, this loan scheme aims to provide education loans to students interested in studying abroad. Apart from providing an education loan, the bank also offers an insurance premium to student borrowers on a case-to-case basis.<\/p>\n\n\n\n
The scheme offers need-based finance to students subject to margin requirements as per the bank\u2019s guidelines. The rate of interest for this loan scheme starts from 11.25% p.a. and there are no prepayment penalties. The image below encapsulates some of the other features of this loan scheme.<\/p>\n\n\n
\n<\/figure>\n<\/div>\n\n\nAlso Read: You must read our blog<\/strong> on <\/strong>Why Education Loan Insurance<\/strong><\/a> is a must-have for students<\/strong><\/p>\n\n\n\nWho is Eligible to Apply for this loan scheme?<\/span><\/h2>\n\n\n\nThe eligibility criteria on the bank\u2019s website mention that a student should be a resident Indian to be eligible for this scheme. Additionally, the student should have secured admission to a higher education course in a recognised institution abroad through an entrance test or merit-based selection process. The student should have completed his\/her HSC (10 plus 2 or equivalent) to be eligible for this scheme.<\/p>\n\n\n\n
Maximum Amount of Loan Sanctioned<\/span><\/h2>\n\n\n\nThe bank\u2019s website mentions that the loan is provided on a need-based basis which is subject to loan margin requirements as per the guidelines of the bank. Students must contact a bank\u2019s representative or visit its nearest branch to know the maximum amount of loan that they can get under the scheme. The bank also provides the option of reimbursement of fees paid by the students within six months of payment. However, the reimbursement is considered on individual merits of the case and you will have to reach out to the bank\u2019s representative to understand the details as per your specific case.<\/p>\n\n\n\n
Also Read: Check Out this Blog on <\/strong>How To Apply For a Vidya Lakshmi Education Loan Through the YONO App?<\/strong><\/a><\/p>\n\n\n\nCollateral Requirements Under the Loan Scheme<\/span><\/h2>\n\n\n\nBelow are the collateral or security requirements with respect to the scheme-<\/p>\n\n\n\n
\n- For Loans up to INR 7.50 Lakhs: <\/strong>For students taking loans up to INR 7.5 Lakhs, co-obligation of parents along with collateral security in the form of a third-party guarantee is required. However, in some cases, the third-party requirement can be waived depending on the net worth of the student\u2019s parents who would be executing the documents as joint borrowers.<\/li>\n\n\n\n
- For Loans Above INR 7.50 Lakhs: <\/strong>When a student takes a loan above INR 7.50 Lakhs, his or her parent(s) or guardian should be included as joint borrower(s). A tangible collateral security of suitable value acceptable to the bank is also required. You\u2019ll have to ask the bank to know more about property accepted as collateral security for education loan<\/strong><\/a>.<\/li>\n<\/ol>\n\n\n\n
Rate of Interest Under the PGB UDAAN Education Loan<\/span><\/h2>\n\n\n\nIt is crucial to know about education loan interest rates<\/strong><\/a> while applying for a loan. As per the bank\u2019s official website, the rate of interest rate for this scheme starts from 11.25% p.a. However, this rate of interest is subject to change from time to time and you\u2019ll have to contact the bank to know about the latest interest rate when you apply for the loan.<\/p>\n\n\n\nFAQs on PGB UDAAN Education Loan<\/span><\/h2>\n\n\n\nWhat is the aim of the PGB UDAAN education loan?<\/strong> The aim of the PGB UDAAN education loan is to provide loans to students who want to study abroad for higher education.<\/p> <\/div>
What is the interest rate for this loan scheme?<\/strong> The interest rate for this loan scheme starts from 11.25% p.a. However, the bank\u2019s website mentions that this interest rate is subject to change. A student should contact the bank to check the latest interest rates.<\/p> <\/div>
Who is eligible to apply for this loan scheme?<\/strong> The bank\u2019s website mentions that a resident Indian who has completed his HSC (10 plus 2 or equivalent) and has secured admission to a recognised foreign university is eligible to apply for this loan scheme.<\/p> <\/div>
What is the maximum amount of loan available under the PGB UDAAN education loan?<\/strong> The bank provides a need-based finance under this scheme. In a few cases, the bank also provides reimbursement of fees paid within six months of payment by the student.<\/p> <\/div>
What expenses are covered under this loan scheme?<\/strong> The following are the expenses covered under this scheme-
This blog was all about the details regarding the PGB UDAAN education loan scheme to study abroad. To know more about such loan schemes, the best international bank accounts for students<\/strong><\/a>, forex and banking experience for global students, or international money transfers<\/strong><\/a>, reach out to our experts at 1800572126 to help ease your study abroad experience.<\/p>\n\n\n\n
<\/figure>\n<\/div>\n\n\nAlso Read: You must read our blog<\/strong> on <\/strong>Why Education Loan Insurance<\/strong><\/a> is a must-have for students<\/strong><\/p>\n\n\n\n The eligibility criteria on the bank\u2019s website mention that a student should be a resident Indian to be eligible for this scheme. Additionally, the student should have secured admission to a higher education course in a recognised institution abroad through an entrance test or merit-based selection process. The student should have completed his\/her HSC (10 plus 2 or equivalent) to be eligible for this scheme.<\/p>\n\n\n\n The bank\u2019s website mentions that the loan is provided on a need-based basis which is subject to loan margin requirements as per the guidelines of the bank. Students must contact a bank\u2019s representative or visit its nearest branch to know the maximum amount of loan that they can get under the scheme. The bank also provides the option of reimbursement of fees paid by the students within six months of payment. However, the reimbursement is considered on individual merits of the case and you will have to reach out to the bank\u2019s representative to understand the details as per your specific case.<\/p>\n\n\n\n Also Read: Check Out this Blog on <\/strong>How To Apply For a Vidya Lakshmi Education Loan Through the YONO App?<\/strong><\/a><\/p>\n\n\n\n Below are the collateral or security requirements with respect to the scheme-<\/p>\n\n\n\n It is crucial to know about education loan interest rates<\/strong><\/a> while applying for a loan. As per the bank\u2019s official website, the rate of interest rate for this scheme starts from 11.25% p.a. However, this rate of interest is subject to change from time to time and you\u2019ll have to contact the bank to know about the latest interest rate when you apply for the loan.<\/p>\n\n\n\n The aim of the PGB UDAAN education loan is to provide loans to students who want to study abroad for higher education.<\/p> <\/div> The interest rate for this loan scheme starts from 11.25% p.a. However, the bank\u2019s website mentions that this interest rate is subject to change. A student should contact the bank to check the latest interest rates.<\/p> <\/div> The bank\u2019s website mentions that a resident Indian who has completed his HSC (10 plus 2 or equivalent) and has secured admission to a recognised foreign university is eligible to apply for this loan scheme.<\/p> <\/div> The bank provides a need-based finance under this scheme. In a few cases, the bank also provides reimbursement of fees paid within six months of payment by the student.<\/p> <\/div> The following are the expenses covered under this scheme- This blog was all about the details regarding the PGB UDAAN education loan scheme to study abroad. To know more about such loan schemes, the best international bank accounts for students<\/strong><\/a>, forex and banking experience for global students, or international money transfers<\/strong><\/a>, reach out to our experts at 1800572126 to help ease your study abroad experience.<\/p>\n\n\n\nWho is Eligible to Apply for this loan scheme?<\/span><\/h2>\n\n\n\n
Maximum Amount of Loan Sanctioned<\/span><\/h2>\n\n\n\n
Collateral Requirements Under the Loan Scheme<\/span><\/h2>\n\n\n\n
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Rate of Interest Under the PGB UDAAN Education Loan<\/span><\/h2>\n\n\n\n
FAQs on PGB UDAAN Education Loan<\/span><\/h2>\n\n\n\n