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Education Loan for BITS Pilani
✓ Top courses offered by BITS Pilani
✓ Schemes for BITS Pilani Education Loan
Check your Education Loan Eligibility
Table of content
- Top Education Loan Schemes for BITS Pilani
- Top Courses in BITS Pilani with Fees and Eligibility
- Documents required for an Education Loan for BITS Pilani
- How to apply for an Education Loan for BITS Pilani?
- FAQ's
- Need Help? Ask Here!
BITS Pilani is one of the rare universities in India where practical and experiential education is given more importance than theoretical education. It has a 0% attendance rule which provides the students with academic flexibility and time to innovate. No wonder the most successful startups have their roots in BITS Pilani.
The fee however to study at BITS Pilani is a little on the higher side, of course, because of the quality of education. You can either take a secured or unsecured education loan to fund your education at the prestigious BITS Pilani. Choose the best education loan according to your profile from different types of education loans.
Top Education Loan Schemes for BITS Pilani
BITS Pilani is one of the top institutes in India and hence various lenders have designated education loan schemes for BITS Pilani. Below are the top 5 education loan schemes for BITS Pilani.
SBI Scholar Education Loan Scheme for BITS Pilani
The SBI Scholar provides education loans to applicants going to top institutes like BITS Pilani, IIT, and IIMs. The SBI Scholar education loan scheme provides unsecured education loans at a lower interest rate of 8.35% for BITS Pilani.
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Parameter |
Details |
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Loan Limit |
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Expenses covered |
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Interest rate |
8.35% P.A. |
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Moratorium Period |
Course period plus 1-year |
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Repayment Duration |
Up to 15 years |
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Repayment policies |
The interest accumulated in the moratorium period can be paid in the following regular EMIs or can also be paid in the moratorium period. |
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Eligibility Criteria |
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UBI Special Scheme for BITS Pilani
The Union Bank of India has introduced a special scheme for students of Premier Management & Technical Institutes for the Academic Year 2022-2023. BITS Pilani too features in the list for its technical courses like B Tech, and BE.
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Parameter |
Details |
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Loan Limit |
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Expenses covered |
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Interest rate |
Starting from 9.55% P.A. for a non-collateral loan and 9.05% for a collateral loan. |
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Moratorium Period |
Course period plus 1-year |
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Repayment Duration |
Up to 15 years |
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Repayment policies |
The interest accumulated in the moratorium period can be paid in the following regular EMIs or can also be paid during the moratorium period. |
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Eligibility Criteria |
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Bank of Baroda Education Loan for Premier Institutions
Bank of Baroda has a customized education loan scheme for premier institutes including BITS Pilani. It offers up to 30 lacs loans at an interest rate of 8.85%.
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Parameter |
Details |
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Loan Limit |
Up to 30 lacs unsecured loan and 80 lacs as secured loan |
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Expenses covered |
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Interest rate |
Starting from 8.85% |
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Moratorium Period |
Course time + 1 year |
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Repayment Duration |
10 to 15 years |
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Repayment policies |
Simple interest is charged in the moratorium period and it should be paid in the moratorium period |
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Eligibility Criteria |
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PNB Pratibha Education Loan Scheme for BITS Pilani
PNB through its Pratibha education loan scheme offers attractive education loan offers to students going to premier institutes like BITS Pilani. PNB offers up to 30 lacs for pursuing studies in BITS Pilani.
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Parameter |
Details |
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Loan Limit |
Up to 30 lacs unsecured loan for BITS Pilani (Pilani campus), 25 lacs for Hyderabad and Goa campus |
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Expenses covered |
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Interest rate |
Starting from 8.85% |
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Moratorium Period |
Course period + 1-year |
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Repayment Duration |
Up to 15 years |
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Eligibility Criteria |
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Canara Bank Vidya Turant Education Loan Scheme for BITS Pilani
Canara Bank has started Vidya Turant to provide hassle-free education loans to students going to premier institutes like BITS Pilani. The scheme provides up to 40 lacs as education loans to students who have been admitted into the BITS Pilani of Pilani campus
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Parameter |
Details |
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Loan Limit |
Maximum of 40 lacs secured for BITS Pilani of Pilani campus and 20 lacs unsecured loan |
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Expenses covered |
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Interest rate |
If you are taking an education loan
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Moratorium Period |
Course duration + 1-year |
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Repayment Duration |
Up to 15 years including the moratorium period |
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Eligibility Criteria |
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Top Courses in BITS Pilani with Fees and Eligibility
BITS Pilani has a wide range of courses for graduation and post-graduation. Here are the most desired courses by students in BITS Pilani, which are also preferred by most lenders.
BTech and B.E in BITS Pilani
BTech and BE, which are engineering courses, can be taken in BITS Pilani by passing the BITSAT cut-off. Students eligible for BITSAT for BTech or B.E should meet the following eligibility criteria
- Should have passed 10+2 from a recognized board with at least 75% in each of the three subjects Physics, Chemistry, and Mathematics.
- The applicant should be proficient in English.
- The students appearing in the 12th exam can also apply.
Fee for BTech and B.E in BITS Pilani
The fees for BTech and B.E programs in BITS Pilani usually differ with the specialization. However, it ranges between 1.5 lacs to 4 lacs annually.
MBA in Business Analytics in BITS Pilani
BITS Pilani is the perfect destination for students wanting to pursue an MBA in Business analytics. It has a legendary alumni network for mentorship and it also offers financial assistance through teaching assistantships. To pursue an MBA in BITS Pilani, you will need to clear the BAAT(Business Analytics Aptitude Test). You will need to meet the following eligibility criteria to appear in the BAAT and gain admission for an MBA in BITS Pilani.
- Applicants need to have a bachelor’s degree in any discipline with at least 60% aggregate marks.
- The candidate should have at least studied one subject in Mathematics or Statistics at 10+2 or higher level.
- Applicants with prior programming language exposure are preferred (though it is not mandatory)
- The students who are in their final year can also apply provided they provide the results within the specified time by the university.
Fees for MBA in Business Analytics in BITS Pilani
The stature of the institute might indicate the fee to be too high, which is not really the case. It just costs around 12 lacs to complete an MBA in Business Analytics from BITS Pilani.
Documents required for an Education Loan for BITS Pilani
Once done with the selection of the course, go through the below list of documents that you will need for an education loan for BITS Pilani
1. Application form
An application form along with 2 photographs and the applicant’s signature. The application form will be provided by WeMakeScholars financial officer.
2. Documents of the applicant and co-applicant or guarantor
- Proof of identity
- Aadhar card
- PAN card
- Proof of residence
- Voter ID card
- Electricity bill
- Ration card
- Bank account statements
Provide two residence proofs if your current and permanent address is different
- Documents of the co-applicant(Bank account statement of the last 6 months)
- Must show salaried credits if salaried
- Must show business transactions if self-employed
3. Academic documents of the applicant
- 10th, 12th, and if applying for PG course then degree mark sheet
- Fee structure of the university
- Proof of admission showing the duration of the course
- Entrance exam scorecard
4. Income documents of the co-applicant
- Salaried
- Payslips for the previous 3 months
- Form 16 of the last 2 years
- Employer’s ID card
- ITR of the last 2 years
- Self-employed
- ITR of the previous 3 years
- A balance sheet with profit and loss account of the previous 3 years
- Address proof of the business
5. Other documents
A letter that declares that the amount apart from your loan will be borne by your co-applicant(WeMakeScholars financial officer will provide the format of the letter)
A joint notarized affidavit with your co-applicant in the standard format of the bank
6. Additional documents
- Receipts or slips of any payments that you have made to the university in advance
- Pending loan statements from the last year
- Describe the reason for any gap or break that you have had in your studies in a 100 Rs stamp paper(ask your financial officer to provide the format of the letter)
7. Collateral documents
These are required only for collateralized loans. The collateral documents differ from state to state and hence you can check the below list of states and see the documents required according to the state you are applying from.
How to apply for an Education Loan for BITS Pilani?
There are tailor-made schemes for students going to institutes like BITS Pilani. However, the bank employees as well as students are unaware of it and hence they take education loans at higher interest rates from banks. We at WeMakeScholars educate students about different schemes and process their education loans with the best possible scheme.
Why Choose WeMakeScholars For An Education Loan For BITS Pilani?
WeMakeScholars is an organization that is supported by govt. of India under the Digital India campaign. We provide students with the best education loan offers to study in India and abroad. We are partnered with 14+banks(Public/Pvt) and hence you have multiple options of lenders for an education loan. Here are the benefits of going through us.
Better rate of interest - As we are partnered with 14+ banks(Public/Pvt) we can provide education loans at 0.5 to 2% lower rate of interest.
Faster loan sanction - We can process an education loan 50% faster than the banks. We maintain a timeline of 21 working days for public banks and 7 working days for private banks.
Tailor-made schemes - We educate students on different education loan schemes available for them. This helps in getting an education loan on better terms.
End-to-end assistance - We support students throughout their education loan process right from sanction until repayment.
Tax benefits - There are certain tax benefits on education loans that students are usually unaware of. Hence, we take the responsibility of educating them about it.
Cashback - You will be eligible for a cashback of Rs 3000 when you go through WeMakeScholars.
How to Apply through WeMakeScholars?
Now that you have gone through the benefits of taking an education loan through WeMakeScholars you will be eager to apply through us. Go through the following steps to apply for an education loan for BITS Pilani through WeMakeScholars.
Step 1: Request a callback or fill out the common application form on the website.
Step 2: You will receive a callback from WeMakeScholars financial officer. Provide him/her with all the details required for an education loan.
Step 3: The WeMakeScholars financial officer will then analyze your profile and will connect you to suitable lenders.
Step 4: Choose your preferred lender and submit your documents or upload them to the portal.
Step 5: Wait for the decision on your profile after the submission of the documents. You will receive a confirmation within the promised timeline.
Step 6: Once the loan is approved, sign the loan agreement and receive your sanction letter.
FAQs:
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How much education loan can I get for BITS Pilani?
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Can I get a 20 lakhs education loan without collateral for BITS Pilani?
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Is BITS Pilani costly?
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What is the interest rate of a BITS student loan?
WeMakeScholars- supported by IT Ministry, Govt. of India.
Our Education Loan team will help you with any questions
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