What is mean by education loan?
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
Who is eligible for education loan?
Eligibility criteria
The candidate applying for the loan must be a resident of India. He/she must have confirmed admission in recognized educational institutes in India or abroad. The age of the candidate must fall within the bracket of 18 to 35 years during loan application.
Top 3 Education Loan Banks
1. HDFC Credila Financial Services Pvt. Ltd.
HDFC Credila, an HDFC Ltd. Company, is India's First Dedicated Education Loan Company. HDFC Credila Financial Services pioneered the concept of specialist Education Loan lender and became India's First Dedicated Education Loan Company. HDFC Credila's brand purpose is to contribute towards Transforming Lives and Building the Nation!
HDFC Credila has funded more than tens of thousands of students from India to over 2100+ unique educational institutes across 35+ countries!
Customized Education Loans, Home Delivered!
· No margin money required
· Up to 100% finance
· Tax benefit under Sec 80E
· Attractive rate of Interest
· No upper limit on loan amount
· Long term loans resulting in easy EMIs
· Flexibility in collateral security requirements
· Loan against property mortgaged with HDFC
HDFC Credila understands the education and admission process in India and in various countries across the world. On the basis of our extensive research, HDFC Credila offers tailor made solutions to offer unmatchable features and service standards.
Unlike banks which typically charge a fixed rate for a certain category of students, HDFC Credila has a range of rates depending on the institute, co-borrower details, collateral security offered and the academic background of the student. HDFC Credila offers customized education loans, home delivered!
Benefits of Education loan in HDFC Credila
· Education Loan Features
· Up to 100% finance
· Doorstep service
· Loan amount over Rs.20 lakhs also available
· Repayment tenure up to 10 years (Easy EMIs)
· Less than 100% collateral
· Co-borrower flexibility
· Loan against property mortgaged with HDFC Ltd.
· Loan Sanction before admissions also
· Attractive rate of interest
· Tax benefit under Section 80-E of Income tax Act
· Quick and hassle free process
Apply Education loan in HDFC Credila from Here in Easy 3 Steps: Click Here
2. Bajaj Finance (Bajaj Finserv)
Bajaj Finserv: Education Loan on Property
From tuition fees to travelling overseas and living at a new place during the course duration, higher education requires a considerable investment which can be sufficiently met with an Education Loan.
Bajaj Finserv brings Loan against Property for Education to fund the educational expenses of your child, whether in India or abroad. Utilize this loan amount to finance all big-ticket expenditures related to your child’s education. Get all the Education Loan details below.
Education Loan on Property: Features and Benefits Finance your child’s expenses for higher studies like moving to a new city or country, tuition fees, activity charges, living expenses and more. Empower your children to study abroad with Bajaj Fiserv’s Education Loan.
Affordable Loan of High Value: - Get a Loan against Property for Higher Education of high value up to Rs. 1 Corer if you are a salaried individual. Avail a loan up to a maximum of Rs. 3.5 Corer if you are self-employed.
Hassle-Free Disbursal of Loan: - Get this Student Loan in India with a hassle-free disbursal procedure. Fulfil the eligibility criteria and furnish the documents required to get the fastest loan approval. Receive the amount in your loan account within four days from the date of approval.
· Long and Flexible Tenure of Repayment: - Repay the Education Loan in India by choosing a tenure as per your convenience. The property loan repayment tenure can range between 2 and 20 years for a salaried individual. For self-employed borrowers, it extends to a maximum of 18 years.
· Minimal Documentation: - Bajaj Finserv ensures your Mortgage Loan or abroad is completed with minimal documentation. Processing of this Loan Against Property is hassle-free now with doorstep document collection facility
· Easy and Quick Balance Transfer facility: - Initiate easy balance transfer of your existing Study Loan with Bajaj Finserv’s Balance Transfer facility. Get a high-value top-up loan with minimum documentation.
Apply Education loan in Bajaj Finserv from here: Click Here
3. Axis Bank : Education Loan
Axis Bank brings you Education Loans for studies both in India and abroad starting from Rs. 50,000 at attractive interest rates. With an Axis Bank Education Loan you can enjoy a host of benefits such as simple documentation, quick loan disbursal, tax benefit u/s 80(E), long repayment tenure, etc. Find out more about the features and benefits of Student Loan in India, below.
Sub Variants:
1. PRIME ABROAD
Education Loan for full-time Premier Courses Abroad
Unsecured Loan up to 40Lakhs*
Door-Step Service
Multi-currency Forex Card
Loan Tenure up to 15 yrs.
2. PRIME DOMESTIC
Education Loan for selected leading full-time courses in India
Unsecured Loan up to 40Lakhs*
Door-Step Service
Loan Tenure up to 15 yrs.
3. Loan for Higher Study
Education loan for pursuing higher education in India or abroad
No Collateral security up to 7.5Lakhs
No Pre-closure Charges
Door-Step Service
4. Loan for Working Professionals
Unsecured Loan up to 20Lakhs to working professionals
No co-applicant
Loan repayment tenure up to 10yrs
5. BALANCE TRANSFER
Switch your existing high cost Education Loan & reduce your monthly EMI
No Pre-closure Charges
Door-Step Service
Education Loan from Axis Bank comes with simple documentation, hassle-free processing and longer re-payment tenure that ensures every need of the student is met.
Key Features:
· Loan for education in India & Abroad
· Tax Benefit U/S 80 (E)
· Loan amount to cover tuition fees, hostel charges, cost of books, etc.
· No prepayment and foreclosure charges
· Funding for Executive Programs
· Door Step Service
Apply Education loan in Axis Bank from Here : Click Here
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