Maximum Loan Amount
The maximum amount you can get from Hero FinCorp is Rs 5 Lakh. However, you must meet the eligibility criteria and have a good credit rating.
Education Loan
Pursuing an MBA, Engineering, MBBS, or any other course? Hero FinCorp supports your academic journey with easy access to education loans. Apply today and take the next step towards your future!
Approval in 10 Minutes
Minimal Documentation
100% Digital Process
Calculate Personal Loan EMI
Get Personal Loan for Education Approval in 10 Minutes
Higher education can be expensive, with tuition fees, living expenses, and other things adding up whether you study in India or abroad. Many students and their families find it hard to manage these costs, which can lead to financial stress and affect their studies. That is why having the right financial support is important for a smooth and successful journey. Hero FinCorp helps students by offering education loans to cover these expenses. You can apply for a student loan online through a simple digital process and receive approval in just 10 minutes.
There is no heavy paperwork, no need for collateral or a guarantor, and disbursal is quick. Loans start from Rs 50,000, and with flexible repayment options, you can focus more on your studies and less on money worries while pursuing your higher education.
Features and Benefits of a Personal Loan for Education
A loan for education at Hero FinCorp is highly convenient to avail. This is because the instant student loan facility is flexible enough to cover academic expenses and support your educational goals at the same time.
Eligibility for a Personal Loan for Education
When considering an online education loan application, ensure you verify the eligibility criteria to avoid rejection or delay. Students and parents must be aware of the prerequisites for a hassle-free application process:| Eligibility Criteria | Details |
|---|---|
| Age | 21 - 58 years |
| Citizenship | Should be an Indian citizen |
| Work Experience | 6 months for salaried, 2 years for self-employed |
| Monthly Income | Minimum Rs 15,000 |
List of Required Documents to Apply Personal Loan for Education
Obtaining an education loan is easy and fast, with no paperwork required. Just keep these documents handy, and both salaried and self-employed individuals can instantly complete the application process:
- PAN Card
- Aadhaar Card
Interest Rate & Charges for a Personal Loan for Education
Education loans can certainly help with educational expenses, but it's essential to be aware of all costs to avoid the stress of repayment. The easiest way to stay alert is to know the education loan interest rates and all associated fees upfront.
| Loan Details | Charges/Details |
|---|---|
| Interest Rate | Starting from 1.58% per month |
| Loan Processing Charges | Minimum Processing fee is 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST |
| EMI Bounce Charges | Rs 350/- |
| Interest on Overdue EMIs | 1-2% of the loan/EMI Overdue Amount Per Month |
| Cheque Bounce | Fixed Nominal Penalty |
| Loan Cancellation | 1. Loan app does not charge cancellation charges 2. Interest amount paid is non-refundable 3. Processing charges are non-refundable |
How to Apply Personal Loan for Education Online?
It is easy to apply for a student loan with a low interest rate. Fill out the education loan application form online and complete the following steps to assist in your academic journey:
- 1
Visit the Hero FinCorp website or download the personal loan app.
- 2
In the instant personal loan section, click 'apply now'.
- 3
Enter your mobile number and register yourself by submitting the OTP you receive.
- 4
Specify your loan amount.
- 5
Complete your KYC verification. Verify your income eligibility.
- 6
Click 'Submit' to complete your loan application process.
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Frequently Asked Questions
All Indian citizens, salaried and self-employed, between the ages of 21-58 years with a minimum monthly income of Rs 15,000 are eligible to apply for a student loan at Hero FinCorp.
A CIBIL score is used to check creditworthiness, but first-time borrowers may also be granted a Personal Loan for Education if they meet Hero FinCorp's required eligibility parameters.
Yes, submitting your PAN card is mandatory when applying for a student loan with Hero FinCorp.
You can apply online on Hero FinCorp's website or mobile app. Simply register, fill the application form and proceed as per instructions to get the loan application process done.
Yes, parents or students can avail of an instant loan for education from Hero FinCorp without guarantor or collateral.
You need to furnish your KYC details (Aadhaar card and PAN) and income proof to apply for a personal loan for student online.
You can avail a Rs 5,00,000 Personal Loan for Education through Hero FinCorp's app if you are 21–58 years of age with a Rs 15,000 monthly income.
Hero FinCorp's Personal Loan gets approval in 10 minutes. It is collateral-free and can be availed with minimum documentation online.
At Hero FinCorp, the interest rates on student loans start from 1.58% per month. The rates can differ based on the credit profile.
Hero FinCorp provides repayment terms between 12 and 36 months. Select a tenure and EMI plan that suits your repayment ability.
Disclaimer
*Approval & Agreement: Loan approval is at Hero FinCorp's discretion. By applying, you agree to our Terms & Conditions, Privacy Policy, and Loan Agreement.
*Data Use: You consent to electronic processes and data use for loan assessment, as per our Privacy Policy.
*Security: Keep your account and device secure. Report our customer care for unauthorized activity immediately.
*Grievances: For concerns, refer to our Grievance Redressal Policy.
*EMI Payment: Refer to our T&Cs here*
*RBI Mandate: RBI requires transparent disclosures. Learn more from RBI.