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Internet Desk. Earlier, due to lack of money, education of many children remained incomplete, but now this problem has ended and education loan is behind it. This loan is available for higher level education and the bank gives it to you easily. But do you know what is the interest rate for student loan and what documents are required, otherwise do you know?
Interest rates on education loan
If we talk about interest rates on education loan, they vary. While taking an education loan, your credit score, loan repayment period, academic track record, which course you are pursuing are considered. Different banks offer education loans at different interest rates. Generally this interest rate ranges from 8 percent to 15 percent.
Education loan eligibility
To take an education loan, you need some documents. ID proof which includes Aadhar Card, Driving License or Passport. Address proof and bank details have to be provided. Along with this, it is necessary for the guardian or parents of the person taking the loan to have a good CIBIL score. The admission certificate of the institute in which admission has been taken also has to be shown.
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