Are there any banks that offer an education loan sanction letter with a validity period longer than 6 months?
Most banks in India provide an education loan sanction letter that is valid for six months, which is standard for many institutions. However, some banks and financial institutions offer flexibility beyond this period.
- HDFC Credila provides flexibility with its sanction letter, and in some cases, it can be extended beyond six months based on the student’s request. They also offer provisional sanction letters that can be useful for visa and admission purposes.
- Auxilo and InCred are two NBFCs that provide education loans with flexible validity periods for their sanction letters. Both these institutions allow for an extension depending on the student’s loan and academic situation GyanDhan
It’s always a good idea to contact the respective bank or financial institution directly to inquire about their policy on extending the validity of the sanction letter. If your course timeline requires a longer validity period, some banks may be willing to accommodate that based on your specific circumstances.