Education Loan for BITS Pilani - Interest Rates (2024)

How to Apply for Education Loan for BITS Pilani

Birla Institute of Technology & Science is a globally recognized center for higher education, research, and innovation. It boasts 950+ experienced faculty with expertise in a wide range of disciplines. That's why numerous students and aspirants seek to apply for admission to BITS Pilani every year. However, many of these students drop the idea because of hefty college tuition fees and expenses associated with education.

If you want to study at BITS Pilani and are wondering if 'can I get an education loan for BITS Pilani', the answer is yes. Education loan for BITS Pilani offers the opportunity to study in the institute, cover the tuition fees, and fund the financial educational expenses. Before you apply for a student loan, know the eligibility, interest rates, and how to apply for an education loan for BITS Pilani.

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What is an Education Loan for BITS Pilani?

BITS Pilani is a premier university in India. It is known for offering a syllabus that bridges the gap between practical and theoretical learning. It helps students gain the necessary skills and knowledge to get a high-paying placement and create lucrative careers. It is why BITS Pilani is home to the majority of prosperous businesses and startups.

Given the caliber and quality of education offered, attending BITS Pilani is rather expensive. To pay for your studies, you can take out an unsecured or secured student loan. Education loan for BITS Pilani helps students pursue a course or program of their choice and cover the finances, as well.

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Features of Education Loan for BITS Pilani

Education loan for BITS Pilani proves to be helpful to students for various reasons. From 100% financing to on-spot sanction, the whole process of applying for an education loan for BITS Pilani is really seamless.

1. BITS Pilani education loan scheme offers 100% financing
2. On-spot sanction at campus branch or more than 5000 branches all over the country
3. No processing fee
4. 15 years of repayment period
5. Repayment after course period + 12 months
6. Covers numerous degree, diploma, management, engineering, part-time courses
7. Caution deposit
8. Refundable deposit supported by Institution bills
9. Supports traveling, laptop, and other expenses without any receipt

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SBI Education Loan for BITS Pilani

SBI not only offers hassle-free education loans for BITS Pilani but also ensures it to be with the lowest interest rate. Some features of the SBI education loan for BITS Pilani are as follows:

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Top Banks that Offer Education Loan for BITS Pilani

Besides the SBI Scholar Education Loan for BITS Pilani, students can also apply for education loans offered by different banks. Some of the top banks that offer education loan for BITS Pilani are:

UBI Special Scheme for BITS Pilani

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Bank of Baroda Education Loan for BITS Pilani

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PNB Pratibha Education Loan for BITS Pilani

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Canara Bank Vidya Turant Education Loan for BITS Pilani

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Education Loan for BITS Pilani Eligibility and Expenses Covered

Eligibility and expenses covered are two of the most important elements of any education loan, but students often find them demanding. The education loan for BIT Pilani benefits students in both aspects. Not only does it have minimum eligibility criteria, but it also helps cover extensive expenses.

Expenses Covered in Education Loan BITS Pilani

1. Fee payable to BITS Pilani
2. Hostel fee
3. Library, laboratory, and examination fee
4. Purchasing books, equipment, uniforms, and instruments
5. Building fund, caution deposit, and refundable deposit supported by BITS Pilani
6. Travel Expenses
7. Exchange program expenses
8. Laptop or computer
9. Study tours and visits to universities abroad
10. Personal living expenses
11. Life insurance premium of the student

Education Loan BITS Pilani Eligibility

1. Indian citizen
2. Proof of admission to BITS Pilani
3. A strong academic record
4. A parent or guardian as a co-applicant for the loan
5. Tangible collateral depending on the loan amount

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Documents required for Education Loan for BITS Pilani

After confirming your eligibility for the student loan, you must gather and submit all documentation to apply for an education loan for BITS Pilani. Necessary documents necessary for an education loan for BITS Pilani application are as follows:

1. Application Form

To apply for an education loan for BITS Pilani, you must first fill out the application form with two photos and the applicant's signature. The process requires you to submit the education loan for the BITS Pilani application form along with the other documents. 

2. Educational and Other Important Documents

1. Mark sheet of 10th, 12th, and graduation
2. Entrance exam result
3. Proof of admission to the course (Admission letter or ID card)
4. Schedule of expenses for course
5. Gap certificate
6. Letter conferring scholarship or free-ship
7. Passport-size photographs of student, parent, co-borrower, and guarantor

3. Banking Documents

1. For salaried persons, the latest salary slip
2. Form 16 or ITR for other than salaried person
3. Bank account statement (six months)
4. A copy of the sale deed and any other property title papers pertaining to the real estate pledged as collateral
5. PAN card of student, parent, co-borrower, or guarantor
6. Aadhar card
7. Property or Municipal tax receipt

4. Address and Identity

1. Aadhar card
2. PAN card
3. Voter ID card
4. Electricity bill
5. Ration card
6. Passport
7. Bank account statements

5. Other documents

1. Any payment slips or receipts you have paid in advance to the university
2. Pending loan statements from the previous year
3. On a 100 rupee stamp paper, explain any breaks or gaps in your education 
4. A letter stating that your co-applicant will pay the remaining cost
5. An affidavit jointly notarized with your co-applicant in the bank's regular format
6. NREGA-issued job card legally signed by a state government officer
7. Utility bill from any service provider, no older than two months (this includes water, gas, electricity, telephone and post-paid mobile phones)

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Get Your Education Loan for BITS Pilani Approved with Propelld

We at Propelld understand the complexities involved in the education loan for BITS Pilani application process. With extensive documents and a long list of forms, this process can get even more complex for you. That's why Propelld offers seamless financing solutions and services to help you easily for an education loan for BITS Pilani.

Our experts at Propelld will help you with the documents and the entire loan application process. They will also provide you with the forms and guidance to fill them out correctly. If you want to pursue your dream, you can also apply for an education loan for BITS Pilani through us.

• Extensive Banking Partners: Propelld has tied hands with numerous banking and lending partners you can choose from. This not only improves your chances of a successful student loan application but also streamlines it.
• Finance Experts: We have an in-house team of finance and loan experts who will guide you through the process and negotiate with the lenders for better deals. 
• Income Share Agreement: You don't have to worry about repaying the education loan as the agreement allows you to pay it only after you get a job.

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Conclusion

Now that we have answered your 'Can I get education loan for BITS Pilani?' question, you must choose from the different lender that best meets your needs. Studying at BITS Pilani can get expensive, but you don't have to let go of your dream just because of the expenses. Education loan for BITS Pilani will help you fuel your dreams and finance the expenses with ease.

Propelld will make the whole process easy and successful by offering tailored solutions. From extensive lending partners to dedicated loan experts, we will equip you with the right information, tools, and sources. Together, all these will help you get the education loan successfully.

Frequently Asked Questions

Is education loan available for BITS Pilani?

Yes, there are numerous banks that provide education loans for BITS Pilani with interest rates starting from 8.35%.

How can I get scholarship in BITS Pilani?

To be eligible for an 80% tuition fee waiver during subsequent semesters at BITS, a student must earn a minimum cumulative GPA of 8.0.

What is the interest rate on the bits Pilani Education Loan?

The interest rate on a student loan at BITS Pilani ranges from 8.35% to 9.55%, contingent upon the lender you choose.