High Loan Amount
Use property assets to secure a high loan amount for tuition, accommodation, and educational expenses.
Loan Against Property for Education
- Loan up to ₹5 Crore
- Maximum funding on Property Value
- Quick Sanctioning
Loan Against Property EMI Calculator
Get a Loan Against Property for Education Upto 5 Crore
Higher education opens new doors of opportunity. However, the increased cost of professional courses makes it difficult for many to cover all expenses. This is where a loan against property for education can be very helpful. It offers monetary assistance to people to fund their studies. Individuals can unlock substantial funds to cover various educational expenses by leveraging their property assets.
One key advantage of opting for this credit facility is easier access to funds at better interest rates than unsecured ones. It minimises the overall cost of the loan and provides the necessary funds without hassle.
Moreover, you get flexible terms of repayment options at Hero FinCorp. You can select a repayment tenure that aligns with your financial condition. Eventually, you will have ease of mind so that you can focus on your studies better.
Furthermore, unlike other credit options, an education loan against property allows you to utilise the loan amount at your discretion. Whether it's covering tuition fees, accommodation expenses, purchasing study materials, or any other educational need, borrowers can allocate the funds where they are needed most.
Features and Benefits of Loan Against Property for Education
With Hero FinCorp, you can leverage your assets to get substantial funds at competitive rates, ensuring educational aspirations are not compromised due to monetary obstructions.
Attractive Interest Rate
Enjoy competitive interest rates for lower borrowing costs, making repayments manageable and affordable.
Quick Loan Procedure
Benefit from a simplified loan application process, quick documentation, and fast access to funds.
Easy Repayment & Longer Tenure
Our flexible payment options and longer repayment tenures ease financial management, letting you focus on studies.
Higher LTV
With a higher loan-to-value (LTV) ratio, access to more funds to cover all educational expenses.
Hassle-free Documentation
Simplify your loan application with minimal documentation for a hassle-free experience in pursuing education.
Eligibility Criteria for Loan Against Property for Education
To qualify for a loan against property for education requires you to fulfil a few eligibility criteria. These factors include:
Age
Applicants typically need to be of at least 25 years or older, to apply for this loan.
Citizenship
You need to be an Indian citizen.
Work Experience
A stable work history boosts credibility, repayment capacity, and increases loan approval chances.
Monthly Salary
Income stability and repayment capacity ensure timely repayment of your education loan against property.
Documents Required for a Loan Against Property for Education
Securing funding for education is a significant milestone, and a loan against property can be a valuable resource in achieving that goal. Having the necessary mortgage loan documents in order is crucial to streamline the application process. Below is a comprehensive list of documents typically required for a loan against property for education:
Mandatory Documents
Duly filled application form, PAN Card
Proof of Identity
Aadhar Card, ID Card, Driver's License, and Identity Card issued by GOI
Proof of Address
Passport, Driver's License, Utility Bill, Voter ID Card, Lease/ Rent Agreement, Registry Copy, Property Tax Receipt, GST Certificate
Proof of Business Existence
GST Certificate, UDHYAM Certificate, Partnership Deed Copy, Trade License, Certificate of Practice
Signature Proof
Banker's Verification, Passport, PAN Card
Proof of Income
Last three years' Income Tax Returns (ITRs), Income Statement, Profit and loss Statement, Balance Sheet, and Bank Account Statement (previous six months)
Property Related Documents
Complete set of documents pertaining to the property in question
Interest Rates and Charges of Loan Against Property for Education
Securing funding for education is a significant milestone, and understanding the associated interest rates and charges of a loan against property for education is essential. Below are the key details regarding interest rates and charges for such loans:
How to Apply for a Loan Against Property for Education?
Applying for a loan against property for education involves a straightforward process. Here are the steps to avail of this financing option:
- 01
Visit Hero FinCorp website and go to the loan against property page.
- 02
Check your eligibility from the eligibility criteria section available on the website
- 03
On the mortgage loan page, check for the mandatory documents required for a mortgage loan.
- 04
Click the 'Apply now' tab and fill in the required information, and submit the online form.
- 05
Once Hero FinCorp is satisfied with your details, their executives will get in touch with you.
- 06
You may also apply for a mortgage loan by visiting the nearest Hero FinCorp branch or outlet.
Frequently Asked Questions (FAQs)
No, there's typically no minimum educational qualification required to apply for a loan against property for education. Lenders primarily assess property ownership, income stability, and creditworthiness for eligibility.
Yes, you can avail a loan against property for education to finance your studies abroad. Lenders typically provide financing options for both domestic and international educational pursuits.
The loan amount you can get against your property for education purposes depends on various factors, including the property's market value, repayment capacity, and the lender's policies. Typically, lenders offer up to a certain percentage of the property's value as the loan amount.
Yes, you can obtain a loan against property for education to pursue vocational courses. Lenders usually extend financing for a wide range of educational pursuits, including vocational training programs.
Yes. The lender usually charges a processing fee for applying for a loan against property for education. This fee covers the administrative costs of processing the loan application and varies among lenders.
loan against property for education Related Blogs
