Interest Rate
Starting from NA
Processing Fees
1% to 2% + GST
Margin Money
Nil
Simple FIVE step digital process to get a education loan
Use our free tool to verify your eligibility and receive conditional loan offers.
Connect with our dedicated loan counselor for a better understanding of the process.
Submit your documents or complete the necessary forms for bank verification and evaluation.
GyanDhan expert's negotiate to secure the most competitive interest rates and the highest possible loan amount for you.
Recieve your final approval and sanction letter, ensuring prompt fund disbursement from the lender
All you need to know about Yes Bank bank education loan for studying abroad
The history of Yes Bank can be traced back to 1999, when three Indian bankers decided to launch a non-banking financial enterprise together. Yes Bank is an Indian private sector bank headquartered in Mumbai, catering to retail customers, MSMEs, and corporate clients. Its network is spread across 300 districts in India. Yes Bank education loans answer the question many Indian students ask: how can they arrange funds when planning to study abroad? Yes Bank is majorly preferred for its non-collateral loans. The major factor that influences the loan product of Yes Bank in the case of unsecured education loans is the QS Global University Ranking of your targeted university.
| Feature | Details |
|---|---|
|
Secured Loan Amount |
Up to 1.25 Cr. |
|
Unsecured Loan Amount |
|
|
11.25% - 12.75% |
|
|
Loan Tenure |
12 Years |
|
Course + 12 Months |
|
|
Minimum Co-Applicant Income |
Range Between ₹25,000 - ₹40,000 |
|
Processing Fee |
1% - 2% of Sanctioned Amount |
|
Tas Benefits |
Yes; Under section 80e |
|
Repayment During Moratorium |
Yes; PSI or SI |
|
Pre Visa Disbursement |
Possible |
|
Prepayment Charges |
Nil |
Understanding the eligibility criteria for a Yes Bank education loan is essential for students looking to fund their higher education. Here, we outline the primary requirements to help you prepare before applying for financial assistance from Yes Bank:
Indian Citizenship: The applicant must be an Indian national.
Admission Confirmation: Proof of admission to a recognized educational institution is required.
Educational Qualifications: The applicant must have completed 10+2 or its equivalent.
Collateral Requirements: Collateral may be necessary for secured loan amounts.
Co-Applicant Requirement: Typically, a co-applicant such as a parent, Sibling, and Uncle/Aunt is needed. They also need to meet minimum income requirements to be an effective financial co-applicant.
University Eligibility: The targetted university must be in the list prepared by Yes Bank and must be ranked in QS Global University Rankings.
Repayment Capacity: The financial stability of the applicant or co-applicant will be assessed.
Each of these criteria ensures that the applicant is well-prepared to pursue higher education and manage loan repayment effectively. For comprehensive and up-to-date information on eligibility, it's best to consult with GyanDhan by checking your eligibility.
Assembling the required documentation is a vital step in obtaining a Yes Bank education loan, as it aids in the thorough evaluation of your loan application. This process necessitates collecting a complete set of documents for both the applicant (student) and the co-applicant (typically a parent or guardian) to verify their identity, academic credentials, financial stability, and other pertinent details. Below is a simplified table detailing the typical documents needed for both parties.
| Applicant Documents | Co-Applicant Documents |
|---|---|
|
Admission Letter from the educational institution |
Identity proof (Aadhar Card, PAN Card, etc.) |
|
Academic Records (10th, 12th certificates, Degree certificates if applicable) |
Address proof (Utility bills, Aadhar Card, etc.) |
|
Identity Proof (Aadhar Card, Passport, Voter ID) |
Income proof (Salary slips, Income Tax Returns of the past 2-3 years) |
|
Age Proof (Birth Certificate, Passport) |
Bank Statements (Last 6 months) |
|
Residence Proof (Aadhar Card, Passport) |
Assets and Liabilities statement |
|
Scheduled expenses for the course |
Collateral documents (if applicable) |
Securing an education loan for studying abroad can be streamlined and more convenient with GyanDhan's collaboration with Yes Bank. By partnering with GyanDhan, you can enjoy numerous benefits that enhance your loan experience.
1. Higher Approval Rates:
GyanDhan increases your chances of loan approval by helping you understand the loan process and eligibility criteria. They submit your application to Yes Bank only after confirming your eligibility, thereby boosting the likelihood of approval.
2. Customized Document Checklist:
GyanDhan provides tailored document checklists based on your profile, ensuring you have all the necessary documents and alternatives, thereby facilitating a thorough understanding of the requirements for your loan application to private banks.
3. Transparent Process:
GyanDhan assumes full responsibility for getting your loan sanctioned after you submit your documents. They follow up with the bank to ensure a swift application process.
4. Free Assistance:
GyanDhan offers a dedicated Education Loan Counselor (ELC) at no cost to guide you through the loan process once your eligibility is confirmed.
5. Best Loan Guarantee:
GyanDhan is dedicated to securing the most competitive education loan for you. If you find a better offer elsewhere, they will compensate for the difference in interest rates over the entire duration of your education loan.
The process of starting a loan application with Yes Bank is quite simple. All you need to do is follow the below-mentioned steps.
1. Check Eligibility:
Start by visiting the GyanDhan website or using our loan eligibility form to see if you qualify for a Yes Bank education loan for studying abroad. This assessment will consider factors such as your academic qualifications, admission to a recognized institution abroad, and creditworthiness.
2. Loan Application Processing:
An Education Loan Counselor (ELC) from GyanDhan will guide you through the loan process and provide a customized document checklist based on your profile. After you submit your application, Yes Bank will process your loan request using the required documents.
3. Documentation Submission & Verification:
Gather and submit all necessary documents from the checklist, including academic and income records. Ensure that all documents are accurate and meet Yes Bank's requirements. The bank will then verify your application, which includes conducting credit checks, reviewing admission details, financials, and other pertinent information.
4. Loan Approval & Disbursal:
Once the verification is complete, you will receive a loan approval notification with the approved amount. If you are satisfied with the terms, you can sign the agreement to finalize the process and have the required funds disbursed.
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