Education loan in Telangana
Education is a significant investment. You should pick out an education loan in Telangana after going through several schemes and their benefits.
Whether you are looking for an education loan for B.Tech students in Telangana or the best education loan for MBA students in Telangana, this blog has listed several loan schemes and details that will benefit you.
Keep reading to know!
Eligibility Criteria for Applying for an Education Loan in Telangana
To be eligible for an education loan in Telangana, candidates must fulfill specific qualifying requirements:
These requirements guarantee that you use the loan amount for approved educational endeavours and that the student has the financial resources to sustain their academic plans.
Suggested read: Education loan for MBA in Telangana
Documents Required for Education Loan In Telangana
To apply for an education loan in Hyderabad, here are the documents required:
Some academic documents are also required from the applicant while applying for an education loan in Hyderabad. They are:
The co-applicant will have to submit some specific income documents to the bank while applying for an education loan in Hyderabad. They are:
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Accepted Collaterals for Education loan in Telangana
Here are the accepted collaterals for an education loan in Telangana:
The additional documents required to pledge these assets as collaterals are:
Banks do not accept the following types of properties as collaterals while applying for education loans in Hyderabad:
1. Notarised Properties
2. Government-assigned Properties
3. Cantonment Properties
Suggested read: Top Colleges in Telangana
How to Get an Education Loan in Telangana?
Keep reading if you are wondering how to get an education loan in Telangana. It is a straightforward, simple process:
Apply online by doing the following:
1. Visit the bank's official website.
2. As directed by the bank, complete the online application and upload the required files.
3. Apply after you are confident that all the information is accurate. Following that, you ought to visit the branch to finalise any outstanding documentation and go over the terms and conditions of the loan.
When exploring options for an education loan in Telangana, it's crucial to understand the education loan moratorium period, which provides a grace period during which students are not required to make repayments, allowing them to focus on their studies without immediate financial pressure.
This blog talks about the entire process of how to get an education loan in Telangana in detail.
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Tips to Increase Approval Chances for an Education Loan
To improve your chances of getting an education loan in Telangana in 2025, follow these tips:
1. Maintain a Strong Academic Record: Banks prefer students with good grades and admission in reputed colleges.
2. Provide Complete Documents: Submit all required documents, including admission letter, ID proofs, income certificates, and collateral details if needed.
3. Choose a Recognized College/University: Loans are easier to approve for government-approved or NAAC-accredited institutions.
4. Opt for a Co-Applicant with Stable Income: Having a parent or guardian with a steady income increases approval probability.
5. Keep Your Credit History Clean: Ensure no pending loans or defaults in co-applicant’s credit history.
6. Apply Early: Start the loan process soon after admission confirmation to allow time for verification and approval.
Best banks for Education Loan in Telangana
For students in Telangana exploring financial assistance for higher education, it's beneficial to consider the top banks offering education loans in India, which provide competitive interest rates and flexible repayment options.
Suggested read: Education Loan Eligibility, Interest Rates and How to Apply
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Interest Rate for Education Loan in Telangana
Government Schemes For Education Loan in Telangana
Wondering how to get an education loan in Telangana? Specifically for education loan for SC students or for BC education loans in Telangana, there are several schemes you can benefit from.
The Telangana government offers several government schemes for educational loans in Telangana. Some schemes are specifically for education loan for SC students in Telangana or students belonging to BC education loan in Telangana:
Please check the latest details and specific eligibility criteria on the official website of the Telangana State Government or consult with your bank to ensure you meet all the requirements for this subsidy.
Expenses Covered by Education Loan in Telangana
It's essential to know the types of expenses that can be covered by an education loan from a bank or non-bank financial institution (NBFC) in Telangana.
Education loans usually cover a wide range of costs necessary to successfully complete your education, both domestically and overseas. Among them are the following.
Education Loan In Telangana: Important Features
If you are planning to take an education loan in Telangana, it is important to understand the main features. Different banks and NBFCs (Non-Banking Financial Companies) may have different rules, but most follow similar guidelines to make repayment easier for students.
1. Moratorium Period
The moratorium period is the time given before you start repaying your loan.
- Public Banks:
You get time until your course ends plus 6 months to 1 year. During this period, only simple interest is charged, and you don’t need to pay it immediately. - Private Banks:
They add compound interest during the moratorium. You will need to pay this once repayment begins. - NBFCs:
Many NBFCs ask you to pay EMIs (including both principal and interest) even during the moratorium period.
2. Loan Margin
The loan margin is the share of expenses you need to pay yourself.
- Public Banks: Usually 10%.
- Private Banks: Between 5% and 10%, depending on your profile and the loan scheme.
3. Collateral Margin
Collateral is the security you provide to the bank in case you fail to repay the loan. The percentage of loan amount covered by collateral changes from bank to bank.
Top Colleges in Telangana
There are various top colleges in Telangana for which you might want to get an education loan, like:
1. IIT Hyderabad
2. NIT Warangal
3. IIIT Hyderabad
4. University of Hyderabad (UoH)
5. Osmania University
6. BITS Pilani, Hyderabad Campus
7. JNTU Hyderabad
8. NALSAR University of Law, Hyderabad
9. SR University, Warangal
10. IBS Hyderabad
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