By Admin 
If you are dreaming of studying BDS (Bachelor of Dental Surgery), but due to money, you can become a big support for you. In today’s time, both government and private banks are providing education loans for medical, dental and other professional courses. In such a situation, let us know how much education loan can be found for BDS course and what is its process.
How much is education loan?
Banks usually provide education loans up to Rs 10 lakh for studies in India and up to Rs 20 lakh for studies abroad. Although some banks also provide more money than this, but it may require guarantee or collateral (land, houses etc.).
Dental courses like BDS usually range from 1.5 to 6 lakh rupees annually. In such a situation, the total expenditure for four to five years course can reach 6 to 25 lakh rupees. Banks can cover this entire expenditure, including tuition fees, hostel expenses, books, lab fees, uniforms and other necessary expenses.
Which banks give loans?
Apart from government banks like SBI, Bank of Baroda, Punjab National Bank, Union Bank, private banks like ICICI, AXIS, HDFC and many non-banking finance companies (NBFC) also provide education loans.
What are the necessary documents?
- Admission letter received from college
- Marksheet of last exam
- Aadhar card, PAN card
- Fee structure
- Income proof (of guarantor)
- Passport Size Photo
- Bank account statement
When and how to repay the loan?
After taking education loan, the bank gives you the time of 6 months to 1 year after the course is over, which is called a moretorium period. During this time you do not have to pay the installment. After this, one has to start repaying the loan in the form of EMI, which can be duration from 5 to 15 years.
What is interest rate?
The interest rate depends on the bank and your profile. The interest rate in public sector can be between 8% to 10%, while in private banks and NBFC this rate may be slightly higher.
You can also take advantage of government scheme
The government has given the facility to students to inform and apply for the loan schemes of various banks through Vidya Laxmi Portal. Apart from this, interest exemption is also available in some states for female students or financially weaker sections.
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Education loan information:
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