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An education loan is a sum of money borrowed to finance college or other school-related expenses. Payments are often deferred while students are in school and for a six-month grace period after graduation.

Education loans are issued for the purpose of attending an academic institution and pursuing an academic degree. Education loans can be obtained from the government or through private-sector lending sources. Federal loans often offer lower interest rates, and some also offer subsidized interest. Private-sector loans generally follow more of a traditional lending process for application, with rates typically higher than federal government loans.

Features of Education Loans in India

  • Eligibility: Most banks in India offer education loans to students to study either within the country or abroad. You can avail of a loan for pursuing undergraduate, graduate, vocational or even certificate courses. Any student, typically between ages 16-35, can apply for a loan.

  • Amount: The loan amount can vary depending on the cost of the education.

  • Interest rate: The interest rate also varies between banks and can typically range between 9-15%. There is a moratorium on the interest payment – usually between 6 months after you get a job to one year after completion of the course, whichever is earlier. The EMI is calculated once this moratorium period is over and the repayment starts. Female applicants can get a discount on the loan at some banks.

  • Guarantor: If you are planning to study abroad, then a co-applicant on your loan is mandatory, and it has to be an immediate family member. Some banks may ask for third-party security as well. However, the good news is that many banks offer unsecured (without security) loans for up to Rs 7.5 lakhs. In some cases, you might need to offer additional security like a LIC policy or a fixed deposit with the bank for availing of the full loan amount.

  • Tax benefit: You can get a tax benefit under Section 80E of the Income Tax Act of India.

Benefits for STUDENTS

  •  Be Independent: Help your parents by funding your education with Education Loan

  •  Approval Before Admission: Get Education Loan approval letter before admission from us so you do not have to Downsize Your Dreams!

  •  Sources of Funds for USA I-20: Education Loan approval letter demonstrates assured sources of funds for getting I-20 from USA Universities or Visa for many countries.

  •  Funding Total Cost of Education: Banks fund the total cost of your education, including living expenses & all other expenses reducing your financial worries.

  •  Deal with an Expert: We are dedicated to providing only education loans. We understand your world & your unique and complex requirements.

  •  Easy to Apply: It doesn't cost you anything to apply online.  It just takes 5 minutes of your time! Our associate can visit you at your convenience to complete all the required loan related formalities.

Benefits for PARENTS

  •  Tax Benefits: Education Loan from provides income tax benefits under Section 80E of Income Tax Act of India 

  •  Responsible Option: Education Loan makes students financially responsible. Parents can keep family savings for retirement & other emergencies.

  •  Loan up to 100% of Educational Expenses: No margin money is required. You don't have to compromise on the quality of education of your child because of higher fees.

  •  Convenience: Education Loan at your door-step, no visiting bank branches multiple times. Our associates can visit you at your convenience.

  •  Flexibility: Flexibility on collateral security. Longer & flexible repayment options are available.

If you want to go for any type of requirement, you can easily rely on us. We will provide you the best solutions on rate and charges according to your eligibility. 

You can just apply from here and our executive will call you and help you with the desired process.