Overview of Education Loan in Ballabgarh

Ballabgarh, a key city in Haryana’s Faridabad district, supports students with education loans for domestic and international studies. Education loans in Ballabgarh cover tuition, accommodation, and other expenses, with interest rates starting at 8.55% p.a. Lenders like SBI, Bank of Baroda, and Axis Bank offer loans up to ₹1.5 crore with repayment tenures up to 15 years. Loanpao simplifies the process for Ballabgarh residents by providing eligibility checks, lender comparisons, and online applications.

Eligibility Criteria for Education Loan in Ballabgarh

Criteria Details
Age 18 to 35 years
Academic Record Minimum 60% in Class 10/12 or equivalent; admission to recognized institution
Co-applicant Parent/guardian with stable income (minimum ₹15,000/month)
Credit Score Co-applicant’s score above 650; student’s score not mandatory
Residence Permanent resident of Ballabgarh or nearby areas

Documents Required for Education Loan in Ballabgarh

  • Identity Proof: Aadhaar, PAN Card, or Passport (student and co-applicant).
  • Address Proof: Utility bill, Aadhaar, or rental agreement (Ballabgarh address).
  • Academic Documents: Class 10/12 marksheets, admission letter, fee structure.
  • Income Proof: Co-applicant’s salary slips (last 3 months), bank statements (last 6 months), ITR (last 2 years).
  • Photograph: Recent passport-size photographs of student and co-applicant.

Benefits of Education Loan in Ballabgarh

  • Loan amounts up to ₹1.5 crore for domestic/international studies.
  • Competitive interest rates starting at 8.55% p.a. .
  • Long repayment tenures up to 15 years with moratorium period.
  • Covers tuition, accommodation, travel, and other study-related expenses.
  • Quick disbursal within 7–15 days post-approval.

Factors Affecting Education Loan in Ballabgarh

Interest Rate

Rates range from 8.55% to 13% p.a., based on course, institution, and co-applicant’s credit profile.

Loan Amount

Up to ₹1.5 crore, depending on course costs and repayment capacity.

Co-applicant’s Credit Score

A score above 650 ensures better terms; lower scores may require collateral.

Course and Institution

Recognized institutions and professional courses get better terms in Ballabgarh.

How to Apply for an Education Loan in Ballabgarh

Follow these steps to apply for an education loan in Ballabgarh through Loanpao:

  1. Visit loanpao.in and select "Education Loan in Ballabgarh."
  2. Fill out the online application form with details (student’s name, Ballabgarh address, course details).
  3. Upload required documents (Aadhaar, academic records, co-applicant’s income proof).
  4. Compare offers from top Ballabgarh lenders like SBI, Bank of Baroda, and Axis Bank.
  5. Get approval and funds disbursed within 7–15 days in Ballabgarh.

Loan Eligibility for Education Loan in Ballabgarh

Check your eligibility for an education loan in Ballabgarh with Loanpao’s tool:

  • Enter student’s academic details (60%+ in Class 10/12, admission letter).
  • Provide co-applicant’s income (minimum ₹15,000/month).
  • Include co-applicant’s credit score (preferably above 650).
  • Specify your Ballabgarh residential address for localized offers.

Loanpao will assess your eligibility and suggest the best education loan offers in Ballabgarh.

Check Eligibility Now

Track Your Education Loan Application in Ballabgarh

Loanpao provides a seamless tracker for your education loan application:

  • Submit your application ID on the Loanpao Tracker page.
  • Get real-time updates on status (e.g., under review, approved, disbursed).
  • Receive notifications for disbursal updates in Ballabgarh.
  • Contact Loanpao support for assistance with delays in Ballabgarh.
Track Application Now

Education Loan Comparison in Ballabgarh

Compare education loan offers from top lenders in Ballabgarh:

Lender Interest Rate Loan Amount Tenure Processing Fee
SBI 8.55% p.a. Up to ₹1.5 crore Up to 15 years Up to ₹10,000
Bank of Baroda 8.75% p.a. Up to ₹1 crore Up to 15 years Up to 1% of loan amount
Axis Bank 9.00% p.a. Up to ₹75 lakh Up to 12 years Up to 1% of loan amount

Frequently Asked Questions

A minimum of 60% in Class 10/12 or equivalent and admission to a recognized institution are required.

Education loans in Ballabgarh are disbursed within 7–15 days after approval.

The maximum loan amount is up to ₹1.5 crore, depending on course costs and repayment capacity.

Collateral may be required for loans above ₹7.5 lakh or if the co-applicant’s credit score is low.

The moratorium period typically includes the course duration plus 6–12 months after completion.