Education Loan for B. Tech

Introduction

A large number of Indian students today are pursuing engineering as a career due to its high demand not just in their home country but also countries all over the world. The educational and infrastructural facilities present for engineering students abroad are exceptional and some of the top universities offer the highest quality of education for this course. Most students look out for funding options that can help them pursue their dream of studying in nations like the USA, the UK, Canada, Australia, and all over Europe. Therefore students have the option to get an education loan for B.Tech that will help them finance their studies abroad. There are many national banks and non-banking financial institutions (NBFCs) that provide education loans for B Tech students. This enables students to look ahead and afar from these financial constraints and study their chosen field. 

B.Tech Education Loan Eligibility

There are specific B Tech education loan eligibility criteria that every financial institution will have. However; every lender has a general set of prerequisites that we have mentioned below.

• Candidate must be an Indian citizen or resident
• Candidate must have obtained a place in a B.Tech programme at one of the participating universities
• Some banks have age limitations of 35 years, so it is best to double-check with the financial institution
• Additionally, criteria influencing the bank's choice to provide a study loan for B.Tech might include academic merit, B.Tech university repute, the collateral given, and the applicant's financial background

Expenses covered under Education Loan

The best aspect of taking out an education loan for B.Tech students with UniCreds is that students may obtain up to 100% financing, which means that the loan will cover all or most of their expenditures. The following are the expenses that students might anticipate a B.Tech education loan to cover -

• Tuition Costs
• Travel & Transport including the tickets
• Accommodation & Rental expenses
• University fees & additional course costs
• Food expenditures
• Living expenses
• Laptop
• Other research, thesis, and project-work-related expenses
• Any other expense required for a B.Tech

Top Education Loan Providers in India for B.Tech Admission

Following are the top education loan providers offering loans for B.Tech students wishing to study abroad-

1. Avanse
2. IDBI Bank
3. InCred
4. Axis Bank
5. ICICI Bank
6. HDFC Credila
7. Bank of Baroda