How much education loan can be availed for BDS? Know important things for students.

Loan for BDS: You can get a loan for a Bachelor of Dental Surgery. Let us know how much loan you can get for its studies...

If you are dreaming of studying BDS (Bachelor of Dental Surgery), but are feeling hindered due to money, then education loan can be a great support for you. In today's time, both government and private banks are providing education loan facility for medical, dental and other professional courses. In such a situation, let us know how much education loan can be availed for BDS course and what is its process.

How much education loan is available?

Banks usually provide education loan up to Rs 10 lakh for studies in India and up to Rs 20 lakh for studies abroad. Although some banks also provide more amount than this, but for this a guarantee or collateral (land, house etc.) may be required.

The fees for dental courses like BDS usually range from Rs 1.5 to 6 lakh per annum. In such a situation, the total expenditure for a four to five year course can reach Rs 6 to 25 lakh. Banks can cover this entire expense, which includes tuition fees, hostel expenses, books, lab fees, uniforms and other necessary expenses.

Which banks give loans?

Apart from government banks like SBI, Bank of Baroda, Punjab National Bank, Union Bank, private banks like ICICI, Axis, HDFC and many non-banking finance companies (NBFCs) also give education loans.

What are the necessary documents?

Admission letter from the college

Mark sheet of previous examination

Aadhar card, PAN card

Fee structure

Income proof (of guarantor)

Passport size photo

Bank account statement

When and how to repay the loan?

After taking an education loan, the bank gives you 6 months to 1 year after the completion of the course, which is called the moratorium period. During this time you do not have to pay the installment. After this, you have to start repaying the loan in the form of EMI, the duration of which can be from 5 to 15 years.

What is the interest rate?

The interest rate depends on the bank and your profile. In government banks, the interest rate can be between 8% to 10%, while in private banks and NBFCs this rate can be slightly higher.

You can also take advantage of the government scheme

The government has provided the facility to students to apply and give information about the loan schemes of various banks through the Vidya Lakshmi portal. Apart from this, in some states, there is also a facility of discount in interest for girl students or economically weaker sections.