Fuel Your Education Dreams
Empower your educational journey with Bharatloansapp. Our education loans make quality education accessible, covering tuition fees, living expenses, and more
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Educationl Loan
Education Loan
Education is a fundamental right in India, and here we’re providing you with the financial support to get it. Apply for an education loan up to Rs. 50 lakh and pay after completing your education. Choose among the top-ranked universities and colleges, and the bank will transfer your fee directly to the institution’s bank account, depending on the fee structure of the college or university.
Benefits of Education Loan
- Loan up to Rs. 50 lakh
- Instant approval
- Low interest rates
- Repayment tenure up to 15 years
- No hidden processing charges
- Simple documentation process
- Save on taxes with a rebate on the interest you pay on an education loan under Section 80-E of the Income Tax Act of 1961
Education Loan Calculator
Education Loan Eligibility
Call to know the criteria required to apply for our Education Loan
Education Loan Eligibility Criteria
- Indian citizen, aged 16 to 35
- All full-time programmes require a co-applicant, who may be a parent, guardian, spouse, or parent-in-law
- The student must have passed an entrance exam or been selected on the basis of merit to be admitted to a higher education programme at accredited universities in India or elsewhere.
- Approved programmes offered by accredited institutions and universities recognised by the UGC, government, AICTE, AIBMS, ICMR, etc. that lead to graduate or postgraduate degrees and PG diplomas.
Documents required to apply for Education Loan
Documentation: You will likely need to provide various documents as part of your loan application, such as proof of identity, proof of admission, income documents, and more for both Student as well as the Guarantor or co-borrower.
- Student-Applicant
- Co-applicant/Guarantor
- Income Proof for Salaried Co-applicant/ Guarantor
- Income Proof for Self-employed Co-applicant/ Guarantor
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FAQ
An education loan in India is a financial product designed to help students and their parents cover the cost of education, including tuition fees, living expenses, and other related expenses.
Common types include loans for higher education in India, loans for studying abroad, and loans for vocational courses.
You can apply for an education loan through our website or by contacting our team. We'll assist you with the application process and documentation.
Eligibility factors include academic performance, the course you're pursuing, the reputation of the institution, and the applicant's and co-applicant's financial stability.
Typical documents include academic records, admission offer letter, identity proof, address proof, income proof, and collateral details (if applicable).
Education loan interest rates can be either fixed or floating, depending on the lender and the specific loan product.
Interest rates and terms depend on your creditworthiness and the lending institution. We will find the best options for you.
Prepayment is allowed in most cases, and there are generally no prepayment penalties for education loans in India.
While processing fees and documentation charges may apply, reputable lenders are transparent about these costs.
Defaulting on education loan EMIs can lead to penalties, legal action, and a negative impact on the borrower's credit score. It's important to communicate with the lender if you face financial difficulties to explore alternative repayment options.
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