FAQs
What is the minimum loan amount I can get from Yes Bank for abroad studies?
The minimum loan amount is typically not a fixed figure but is determined by your specific educational expenses, with a minimum loan of ₹1 lakh.
Does Yes Bank provide education loans without collateral?
Yes, Yes Bank offers unsecured education loans for abroad studies, with the loan amount being determined by the university's ranking.
What is the interest rate for a Yes Bank education loan for abroad?
The interest rate varies but typically starts from 11.25% and depends on the university's ranking and whether the loan is secured or unsecured.
What is the maximum repayment period for a Yes Bank abroad education loan?
The maximum repayment tenure can be up to 15 years, giving you ample time to settle your debt.
Is a co-applicant mandatory for a Yes Bank education loan for abroad studies?
Yes, a co-applicant is mandatory for a Yes Bank education loan.
Can I get a loan from Yes Bank for a course that is not on their approved list?
Yes Bank typically has a list of approved universities and courses, especially for unsecured loans. It's best to check with the bank to confirm eligibility.
What is the processing fee for a Yes Bank education loan?
The processing fee can vary but is generally up to 2% of the sanctioned loan amount, plus GST.
Does the loan cover living expenses abroad?
Yes, the loan amount can cover various expenses, including tuition fees, accommodation, living expenses, travel, and health insurance.
What documents are required for the loan application?
Documents include a valid passport, academic records, admission letter, and financial documents of the co-applicant.
When does the repayment period begin for a Yes Bank education loan?
The repayment period generally begins after the moratorium, which typically includes your course duration plus a grace period of up to 12 months.
Are there any special benefits for female students?
Yes, some lenders, including Yes Bank, offer a concession on interest rates for female students to encourage higher education.
What if the university ranking changes?
The university ranking at the time of your loan application is used to determine the loan amount. Subsequent changes do not affect your sanctioned loan amount.
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