{"id":9847,"date":"2024-01-29T12:51:27","date_gmt":"2024-01-29T07:21:27","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=9847"},"modified":"2024-10-21T10:45:32","modified_gmt":"2024-10-21T05:15:32","slug":"yes-bank-education-loan-disbursement-process","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/yes-bank-education-loan-disbursement-process\/","title":{"rendered":"YES Bank Education Loan Disbursement Process"},"content":{"rendered":"\n

YES Bank is a reputed Indian Bank that provides many kinds of loans, including education loans to study abroad. Their education loan disbursement process is very smooth. The fast-paced document verification process, allows students to receive the education loan amount without any hassle. They provide financial assistance of up to 1.5 crores at interest rates ranging from 12-14% to cover tuition fees and living expenses. The bank charges a processing fee of 1-2% to process and sanction education loans to the students.  <\/p>\n\n\n\n

Quantum of Finance<\/td>Up to 1.5 crores to study abroad<\/td><\/tr>
Interest Rates<\/td>12-14%<\/td><\/tr>
Moratorium Period<\/td>6 months to 1 year<\/td><\/tr>
Repayment Tenure<\/td>12 months to 120 months<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Also Read: Check our blog on education loans and other related details like interest rates to avail <\/strong>YES Bank education loan to study abroad<\/strong><\/a>. <\/strong><\/p>\n\n\n\n

What is Education Loan Disbursement?<\/span><\/h2>\n\n\n\n

Education loans to study abroad can be availed easily with YES Bank. It has three different stages- submission of the application form along with the required documents, loan sanction and loan disbursement. <\/p>\n\n\n\n

Once the application and necessary documents are submitted to the bank, it will analyse the student profile and share a sanction letter. This means that the bank is willing to provide the student an education loan based on the agreed terms and conditions stating that their loan is approved. <\/p>\n\n\n\n

The education loan disbursement<\/strong> is the last step of the process which means receiving the the funds to finance your study abroad dreams. This includes transferring the funds from the lending institution to the borrower. Most banks consider directly transferring the loan amount to the university instead of the applicant\u2019s\/ co-applicant\u2019s personal bank account. <\/p>\n\n\n\n

The education loan disbursement can be made in instalments or in a lump sum. <\/p>\n\n\n\n

YES Bank Education Loan Disbursement Process<\/span><\/h2>\n\n\n\n

YES Bank Education Loan Disbursement process is simple. Students need to follow these steps to start the disbursement process after receiving the loan sanction letter from YES Bank.<\/p>\n\n\n\n

Step #1: Document collection for Disbursement<\/span><\/h3>\n\n\n\n

Banks require certain documents like the fee structure of the university and cost of living expenses as proof of expenses. As a first step of the YES bank education loan disbursement process, students must keep these documents handy. Based on these documents, banks will decide the actual amount that needs to be disbursed. <\/p>\n\n\n\n

Step #2: Education Loan Disbursement Letter<\/span><\/h3>\n\n\n\n

Once the proof of expenses has been submitted to the bank, the bank issues a loan disbursement letter which states the final loan amount to be paid to the borrower. In this step, the student needs to sign this document before the education loan disbursal. <\/p>\n\n\n\n

Step #3: Education Loan Disbursement<\/span><\/h3>\n\n\n\n

After the student has signed the disbursement letter, the bank transfers the tuition fees directly to the university\u2019s account<\/strong>. The accommodation expenses are also directly paid by the bank if a student chooses on-campus housing facilities. <\/p>\n\n\n\n

However, the loan amount is disbursed to the student\u2019s personal\/ savings account if the student accommodation is off-campus. This amount also includes living expenses and other related expenses to be covered. <\/p>\n\n\n\n

Note:<\/strong> If a student is travelling to Canada or Germany, they must show proof of funds in GIC Account<\/strong><\/a> and Blocked Accounts<\/strong><\/a> respectively. In such cases, YES Bank education loan disbursement takes place accordingly. <\/p>\n\n\n\n