Maximum Education Loan
The maximum education loan amount sanctioned depends upon lender to lender. Depending upon the course fees, the maximum loan amount can be requested. There is no cap onto it.
EDUCATION LOAN
Easy Digital Process
Minimal Documentation
Quick Disbursal
Personal Loan EMI Calculator
Why Hero FinCorp Instant Personal Loan for Education Loan?
Quality education is necessary to boost your career prospects and improve your standard of living. However, enrolling in your desired course may be expensive. That is when an Education Loan comes to the rescue. At Hero FinCorp, you can borrow a Personal Loan for education to cover your education-related expenses. The best thing is that it is easy to obtain without collateral, and the interest rates are competitive, starting at 19% per annum.
When borrowing an education loan online, you may opt for a repayment tenure of 12 to 36 months to keep the EMIs affordable and easily manageable. Apply at Hero FinCorp to achieve your educational goals and improve your employability.
Features and Benefits of Education Loan
An education loan at Hero FinCorp is highly convenient to avail. This is because the instant personal loan facility is flexible enough to be used as an education loan and support academic needs at the same time.
Education Loan Interest Rate
Several financial organizations and banks have launched schemes for availing of easy education loans in India. Usually, the concessions laid down for education loans are affordable and attractive. Education loans for female students who aim to pursue higher education abroad or in India are very reasonable at a low interest rate. Moreover, the interest rate for education will remain fixed for the entire tenure.
With the development of instant loan apps and websites, the loan EMI calculator is one important feature that equates the monthly instalment considering the principal loan amount, interest rate, and tenure. Accordingly, you can decide whether to proceed or not with an education loan.
The interest rate on education loans may differ if compared with public and private financial services. The rate of interest and concessions are levied as per the RBI rules. Public financial organizations have a low rate of interest on education loans as compared to private banks and financial services. Most importantly, the interest rate remains the same and does not fluctuate in an education loan.
Education Loan Eligibility and Required Documents
When you think of applying for an education loan online, it is advisable to know the education loan eligibility criteria to eliminate all the chances of loan rejection or delay. Students and parents should be aware of the eligibility criteria and required documents before applying for an education loan online:*Documents/details are not required to avail loans with Hero FinCorp Instant Personal Loan.
Salaried and self-employed individuals starting from 21 years of age can apply for a personal loan at Hero FinCorp Instant Personal Loan specifically for education.
Education Loan Fees and Charges
When you apply for an instant education loan, the lenders may charge a minimum processing fee. Again, it may vary from lender to lender. So before applying for an education loan, you should confirm the fees and charges, because some lenders keep it hidden and disclose it only after taking the education loan. An instant personal loan app - Hero FinCorp, all the terms of personal loans are transparent, and nothing is hidden. Whether it is an education loan or any type of loan, there is a minimum processing fee of 2.5% + GST (as applicable).How to Apply for Education Loan
Don’t let the financial crunch keep you deprived of graduation and higher studies. Personal loan for education is easy to avail nowadays with minimal documentation. Hero FinCorp an instant education loan facility to fulfil your aspiration of getting a higher degree. Follow the below to quick start the education loan application process:
- 1
Download Hero FinCorp Instant Personal Loan on Android
- 2
Register with your email id and mobile number
- 3
Enter area pin code for clarity on location details
- 4
Add KYC details plus other mentioned documents and get a real-time credit assessment
- 5
Get a loan approved and disbursed instantly during business hours
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FAQs
Yes, you can get a Rs.50,000 education loan via Hero FinCorp instant personal loan app, if you fall under the age group of 21–58 years with a minimum income of Rs.15,000 per month along with a six-month bank statement. You can apply for an instant loan that can be used as an education loan.
Although, the CIBIL score is an important factor to know your creditworthiness, but not the only criteria to get an education loan. Although, the CIBIL score is an important factor to know your creditworthiness, but not the only criteria to get an education loan. If you are a first borrower, you can get a loan if you meet the criteria set by the lender.
Financial institutions in India provide education loans to all recognized and approved courses from graduation to postgraduation courses, from teacher training to MBA courses, from polytechnic courses to global courses, education loan covers most of the courses.
Repaying an education loan at once can reduce your burden. Therefore, you can repay your education loan at the earliest by choosing short-term repayment tenure. As a result, the EMIs may get higher, but the sooner you pay your education loan the lesser expensive it turns out to be.
You can repay your education by choosing a repayment tenure. Hero FinCorp allows a short repayment tenure of between 6 and 24 months. You can customise the tenure and EMI as per your ability to repay the loan.
Yes, students/parents can avail of a personal loan for education online through instant loan apps. A personal loan for education is collateral-free and demands no guarantor. This reduces the major formalities and speeds up the educational loan processing.
Like any other loan, an education loan can also be easily taken via a personal loan website or an instant personal loan app such as Hero FinCorp. Loan application instructions are clearly stated on the loan provider’s website or app. Start by registering and completing the loan application procedure as suggested.
Students or parents applying for an education loan should be an Indian citizen. The candidate should be minimum 18 years of age with a good academic background. Those applying for education loan for job-oriented courses are given faster sanctions.
Secure admission to a college or institute recognised by the authorities in India and abroad. Visit the loan provider’s website or an instant personal loan app like Hero FinCorp. Keep the required documents ready and start registering. Loan processing is done in real-time, and funds are transferred within 24 hours of verification.
The rate of interest is a critical factor when taking any type of loan. For education loans, the interest rate varies depending on different loan providers. For instance, Hero FinCorp offers a starting rate of interest as low as 25% p.a.
The best way to calculate an EMI for education loan is through an EMI calculator, available freely on the loan provider website and app. Enter the principal loan amount, interest rate, and tenure. It will automatically calculate the EMI in seconds. You can also try different variations by changing the three variables until you get an EMI figure that suits your budget.
Benefits of education loan are varied for the students:
- Low rate of interest
- Quick loan sanction
- Flexible payment terms
- Tax exemptions
- Positive credit score
Proof of admission, mark sheet of the last examination, loan application form, KYC details, and bank account statement of last 6 months.
Submission of Permanent Account Number (PAN) is mandatory along with the loan application.