Yes Bank Education Loan

Choose Yes Bank to apply easily for your student loan. Enjoy interest rates starting at 10.99% and a smooth online process with quick response.

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This section gives a clear list of documents required for the process of the loan. This part of the guide lists all the documents that the applicant and the co-applicant should submit to overcome all the difficulties in the application process. Therefore, by explaining every document that is needed when applying for a loan, we would like to guide you on how to apply for a loan. Read on to know how the process is done and all the documents you need to prepare so that the process becomes easier. Parameters Details Basic documents for Applicant (student) and co-applicant and/or Guarantor Application form provided by the financial officer of Subraxo, duly completed with two pictures and a signature. A passport/ voter ID card/ electricity bill/ telephone bill/ ration card/ bank account statement and Aadhar card are all acceptable forms of identification as proof of residency. If the applicant's permanent and current addresses are different, two different proofs are needed. Identity proof: PAN card and passport Personal Asset and Liability Statement in this format, as determined by the branch professional The most recent six-month bank statement (personal/salary). The co-applicant credits must be presented, and if the co-applicant is self-employed, one year's worth of company transactions must be documented. The documents must be self-attested. Applicant Academic Records Proof of secured admission/enrollment in the program (should be evidencing total duration of the course) The course fee structure (If available, i20 for USA) Scorecard of GRE/IELTS/GMAT Educational institution Ranking printout form Academic Records and certificates- 10th, 12th, Degree

Let’s assume you apply for a yes bank education loan of 28 Lakhs with an interest rate of 10% and a tenure of repayment equal to 12 years. The amortization schedule would look as follows. Payable monthly EMI: 39,527 Total amount payable: 56,91,919 Total interest payable: 28,91,919 Timeline EMI Interest portion Principal portion Loan Outstanding End of 1st year 39527 26419 13108 3157157 End of 2nd year 39527 25046 14481 2991070 End of 3rd year 39527 23530 15997 2807592 End of 4th year 39527 21855 17672 2604902 End of 5th year 39527 20004 19523 2380988 End of 6th year 39527 17960 21567 2133626 End of 7th year 39527 15702 23826 1860363 End of 8th year 39527 13207 26320 1558485 End of 9th year 39527 10451 29077 1224997 End of 10th year 39527 7406 32121 856589 End of 11th year 39527 4042 35485 449603 End of 12th year 39527 327 39201 0 They let applicants choose an option of prepayment past 12 EMI payments. If you want to have a clearer understanding of how EMIs are calculated and the factors considered in calculating the repayment schedule, you can watch our video on how to accurately cal

Yes bank education loan process (Offline) Step 1: Visit the closest operating branch to you Step 2: Submit all the required documents at that branch Step 3: Your documents will be verified manually Step 4: The loan amount will be sanctioned and disbursed after verification. Online application process through Subraxo Step 1: Fill out the Common application form available for student loans Step 2: A financial officer from Subraxo will get in touch with you to check your eligibility. Step 3: Our team members will provide you with a clear comparison between all the lenders from who you can avail of your loan on the basis of your eligibility for the loan. Choose a lender. Step 4: Directly submit the documents to the bank or upload your documents on the Subraxo secured portal according to the document checklist sent to you by your financial officer. Step 5: From the time, you submit the documents you will be logged in by our team. You will find out the result of your application within 2-6 days in private banks and 15-20 days in government banks. Step 6: After which you will sign the loan agreement and receive the sanction letter. Problems that students have when contacting a lender directly Very lengthy processing time Unclear instructions on how to submit a loan application There is no list of prerequisite documents. Post-disbursement assistance is not provided. The loan procedure is not well explained. Unsatisfactory customer service By Applying for Yes Bank Education Loan through Subraxo You don’t need to pay a processing fee in Subraxo for the services we provide. It's completely free of cost. We are an organization funded and supported by the Ministry of IT, the gov