Diploma loan: Do a diploma without worrying about money! Know how much amount of education loan you can get?

Diploma Course: If you want to take admission to a diploma course but are worried about the fees, then there is no need to worry now. Nowadays many banks and financial institutions also provide education loan facilities for diploma courses. Whether the course is in India or abroad, your dream of accelerating your career will no longer be stopped by lack of money.

Let us know how much education loan can be availed for diploma course, which banks give loans, and what things are important to keep in mind.

How much education loan can be availed for diploma course?

For studies in India:

Most banks provide loans ranging from Rs 4 lakh to Rs 7.5 lakh for diploma courses done from recognized institutions in India. In some cases, it can also go up to Rs 10 lakh.

Diploma course abroad:

If you want to do a diploma course abroad, the limit of education loans can be from Rs 20 lakh to Rs 30 lakh or more, provided the course and the institute are recognized.

Which loans are covered under which diploma courses?

Education loan is no longer limited to engineering, medical, or higher degree courses. Nowadays, banks and financial institutions also provide education loans for technical, non-technical, vocational, and skill-based diploma courses.

Whether you want to do a diploma in any of the following fields:

ITI or Polytechnic Course

Hotel Management

Photography and Multimedia

Fashion Designing

Computer, Graphic Designing or Digital Marketing

Short-term Professional or Skill Development Course

Know the important conditions.

The course should be from an institute recognized by AICTE/UGC/Government.

The candidate and the guardian should have a good credit history.

A guarantor may be required for loans of more than Rs 4 lakh.

In some cases, a co-signer/guarantee is also required.

Education Loan for Diploma Courses: Know the Eligibility and Loan Limit

How to apply for an education loan?

If you want to take an education loan for a diploma course, follow the simple steps given below:

Contact the bank:

Visit your nearest bank branch or apply online on the official website of that bank.

Keep the required documents ready:
Admission letter for the course
Fee structure
Aadhar card/identity card
Address proof
Mark sheets of previous qualifications
Passport size photo

Evaluation by the bank:
The bank checks your documents and the recognition of the course/institute. The loan is sanctioned based on your academic qualification, the future of the course and guarantee (if required).

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