Yes Bank Education Loan: Guide for Aspiring Students

While many are hoping to take their education to the next level, the cost often serves as a barrier. Fortunately, Yes Bank offers an educational loan to help them achieve this dream.

If you are looking to finance your education, whether in India or abroad, Yes Bank’s education loan can be a reliable and flexible option. This article will take you through all the details that you need to know about Yes Bank education loans such as eligibility criteria, benefits, and repayment options.

Yes Bank Education Loan Overview

Maximum Loan AmountUp to 40 Lakhs
Rate of InterestStarts at 10.99%
Processing TimeOnce approved, the Bank will disburse the amount within 4-5 days
Processing Fees2% of Loan Amount
Repayment OptionsMoratorium period plus an additional 6 months to 1 year after securing the job
Loan TenureUp to 15 years
Documents RequiredAdmission Letter, Fee Structure, Academic Records (10th, 12th, etc), Identity Proof, Age Proof, Residence Proof.
EMI CalculatorAvailable online for easy EMI calculation
Accepted Co-applicantParents, Parents-in-law, Spouse, Siblings

Features and Benefits of YES Bank Education Loan

  • Take advantage of Section 80E tax savings.
  • Loans are disbursed quickly and with little paperwork.
  • Attractive interest rates are a right for female borrowers.
  • Repayment terms are flexible and range from 12 to 180 months.
  • It is possible to obtain loans for management development initiatives.

Documents Required for Loan Application

  • Utility bills as proof of address
  • Proof of Admission: Letter of Admission to the University
  • Financial Statements: Salary slips, income tax returns, bank statements, etc.
  • Identity verification: can also be done with a passport, Aadhar card, or PAN card.
  • Academic Records: Bachelor’s degree results (if applicable), 10th and 12th grade results
  • Co-applicant/Guarantor Documents: Identification, Address, and Income Verification

Yes Bank Education Loan Calculator

Yes Bank offers an EMI calculator for education loans to help you further with your financial planning. This calculator helps you estimate your monthly EMI based on a number of dynamics like the interest rate, full amount of approved loan and period of loan repayment.

For example, if you open a loan of INR 50 lakhs at a 10% interest, you could use the method to find out the EMI you would be paying over 15 years. EMI in this case would be INR 53,730 per month.

Education Loan Eligibility

Find out if you qualify for an education loan so you can start your studies with assurance. Our qualifying requirements are intended to guarantee that a broad spectrum of prospective students can obtain study loans.

Therefore, to comprehend your budget, find out if you are eligible for a study loan, regardless of whether you intend to complete your undergraduate or graduate studies in India or elsewhere.

Education Loan Interest Rates and Charges

The core of YES Bank education loans is transparency. Evaluate our cheap school loan rates and find out about the related charges so you can make sound financial decisions. Besides stamp duty fees are paid under the statute, the processing fee of school loans is 2% of the amount of the approved loan.

How to Apply for YES Bank Education Loan?

  • To initiate the process, visit the nearest YES Bank branch and contact phone banking.
  • You will receive the required paperwork and information from YES Bank. 
  • Fill in all the necessary fields and sign the contract. 
  • Send in your application and the necessary paperwork. 

Conclusion

Yes Bank’s education loan is a trustworthy and flexible way for students to fund their higher education. With attractive interest rates, minimal paperwork, and multiple repayment choices, it ensures a smooth credit experience for studies abroad as well as in the country. This loan helps the students to take care of their financial obstructions whilst focusing their minds on their studies.

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