Bank vs NBFC : Differences Between Education Loans

Education Loans
41

Is agricultural land considered as collateral ?

42

  • KYC documents

  • Academic Documents

  • Collateral Documents

  • Income Documents

    • Bank Statements of 6 months of applicant and co-applicant
    • ITR / Form 16
      • If salaried then of 2 years
      • if business then of 3 years, Business Proof and business coounting
43

Hi Aman!

Thanks for taking the time to create the webinar. I am just a little curious about repaying educational loans (from any source be it an NBFC or a bank). Given that interest rates vary over time, I made a few calculations and found that over a twelve to fifteen year repayment period, a student who takes a 40L loan ends up paying at least 60-75L. Just want to know if that is how it is? I am just not aware of how these things work, so apologies if I seem ignorant.

44

Without the collateral’s which is the best loan option - bank/nbfc?

45

Will bank give sanction letter and disborsment letters??

47

If we want to pay simple interest in bank will they allow?

48

What are the charges for the services we take from Gyandhan? And if i get loan sanctioned for about say 40 lakhs but I end up using only 25-30 lakhs in 2 years then will that be a problem? Please comment on this scenario.

49

Can you comment a little on FinTech companies like Prodigy?

50

do we have an option of getting subsidized loans?

51

what are the hidden charges in NBFC?

52

what is port interest?

53

Do bank ask linked documents for secure loans?

54

what are the private banks who gives unsecured loans??

55

What are the charges of GyanDhan for these financial services?