How to fund your higher studies with an education loan in India?

Nothing can replace the strong pillars of quality education that helps individual lay a strong foundation of a bright and successful career in life. Education is the key for a happy life going. However, due to the inflation, education costs are getting skyrocketing high and it's impossible to fund your higher studies with little savings parents do for your educational future. Traditional finances are a kind of trap with exorbitant interest rates, and therefore, more and more individuals are opting for an educational loan to cover the study expenses. Education loans are given to meritorious students so that nothing hinders their progress and achievements in life. Whether you wish to study in India or abroad in top-notch universities/institutes, loans are offered to aspirants with hassle-free documentation process, quick disbursal, lower interest rates, and easy repayment options. Almost every leading private finance company or bank, government banks are willing to fund students who are interested in pursuing a wide range of graduate, post-graduate, professional, MS, doctorate courses/degree at some of the preferred destinations like India, UK, US, Germany, New Zealand, Australia, and Canada.

For studying in a foreign country, you have to show sufficient proof of funds in the bank account. Parents always struggle to meet such huge fund demands and often many individuals leave their hopes to pursue their dream course. However, to ease the financial burden many leading private finance companies have come up with customized loan solutions such as Pre-Visa Disbursement Loan, Pre-Admission Loan, Certificate of Availability of Funds, GRE score based loan, Bridge loan, fast-track loan etc. which cater exclusively to students’ particular requirements. It will set them free from any form of obstacle in their road for career development.

The quantum of expenses covered by the educational loan in India are not just direct expenses like tuition fees, registration/exam fees, but also, other allied expenses like books, equipment, laptops, uniform, study tours, project funding, hostel and mess charges, living expenses and travelling expense (to a certain extent).

Lenders usually offer a loan with interest rates as low as 11-15% with a mere processing fee on it. There is a special concession of 0.5% for women applicants on study loans. To be eligible for particular loan amount lenders will evaluate certain parameters such as Your Age, academic score, parents/co-borrowers income and credit score, the university, country, currency rates, and collaterals.

The repayment of your educational loan is generally done in the form of EMIs. Students should compare their EMIs with the likely salary based on their dream course. They can determine easy EMIs amount through different combinations of interest rates, tenure, and principal amount using EMI calculator available online.

The best part about an education loan in India is, you don't have to immediately start the repayment. You can make repayments after six months to one year of the course completion and its termed as moratorium period.

However, experts suggest it’s better to opt for a part-time job and start repaying the interest rate as it will significantly bring down the loan costs.

The competition is really stiff and the benefits are passed on to the end users with features like:

•    100% education finance

•    Unsecured loan up to Rs 50 lakh

•    Fast Door Step Service

•    Repay from Abroad

•    No Prepayment Charges.

Give wings to your dream with 100% funding. Apply for an educational loan online, now!