By Admin 
In today’s time, the education loan has become a major support, especially for those students who are financially weak. Not only the degree course, but now education loans are easily available for diploma course. If you also want to do a diploma course from a government or private institution and have stopped due to lack of money, then this news can be very helpful for you.
Which diploma courses can get a loan?
Education loan is not limited to degrees like engineering or medical. Now banks also give loans for technical, non-technical, vocational and skill-based diploma courses. Whether you want to study ITI, polytechnic, hotel management, photography, fashion designing or any other short-term professional diploma course, loan is available.
How much can I get a loan?
If you are doing a diploma course in India, then banks can give loans ranging from Rs 50,000 to Rs 7.5 lakh. For diploma courses abroad, this amount can be Rs 20 lakh or more, provided the courses and institutes are recognized.
What depends on what the loan amount depends on?
- Total fees of course
- Living, spending books and equipment
- Recognition of institute
- Student’s previous academic record
- Economic status of guarantor
What to give a guarantee or security?
Interest rate and method of repayment
- The loan interest rate for diploma course is usually between 9% to 14%, which depends on the bank.
- The loan repayment starts with 6 months to 1 year after the completion of the course.
- The Repayment Period is usually from 5 to 7 years.
How to apply for loan?
Education loan information:
Calculate Education Loan Emi