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InCred offers education loan to Indian students for studying in India as well as abroad. Know more about it in this blog. Click here
Are you one of those students who dream about studying abroad but do not have the required financial resources to fund your higher education? Or have you got admission into a prestigious institute in India and are looking for financial help to fund the cost of your studies here? If yes, then education loans are the answer to your worries.
Most banks and NBFCs offer education loans to aspiring students in order to meet the increasing cost of higher education in India as well as abroad. In this blog, we take a closer look at the InCred Education loan and why it might be the most suitable education loan option for you.
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InCred is a financial service platform that offers its customers a superior borrowing experience. Their education loan, launched in 2017, aims to help students in their dream of higher education by helping them with finances. Students who wish to pursue beyond K-12 education, whether in India and abroad, can apply for an education loan from InCred.
InCred offers secured as well as unsecured education loans for studying in India and abroad. Let us take a look at the fine print on the kind of education loan offered by Incred.
InCred offers tailor-made secured and unsecured education loans for studying in India as well as abroad.
InCred does not mandate any margin money as it funds 100% of education expenses.
Students applying for an InCred education loan should meet the following basic criteria:
InCred education loan rate of interest varies and is based on various parameters such as a student’s academic records, type of institution applied to, the co-borrowers financial strength, type of academic course applied to and the collateral offered. For loan amounts up to INR 10 lakh, the rate of interest will be between 12.75% and 16% while for loan amounts above INR 10 lakh, the rate of interest is between 11.75% and 16%.
Read more about: Education Loan Interest Rate
The NBFC requires a list of documents, which differs from case-to-case in order to sanction the loan. GyanDhan provides applicants with a customized checklist of documents in order to make their loan application process hassle-free.
Read more about: Documents Required for Education Loan
Some additional charges when taking an education loan from InCred are as follows:
There are many lenders in the market offering various loan products for abroad education. But not every lender and loan is beneficial for the students. InCred education loan is one of the few loan products that covers every aspect of an overseas education. Let’s look at some of the benefits of taking an education loan from the InCred -
Students can apply directly to the NBFC for an education loan. However, many times, students may miss out on some minor but important things and make their loan processing time longer. This is where GyanDhan comes to their rescue. With features such as a customized list of documents required for a loan application, low turnaround time, and doorstep service; we only make the process easier for our students. GyanDhan helps students get an education loan from InCred in just 5 days and that too without leaving their home. All they need to do is upload all the documents on GyanDhan’s website and apply for an Incred education loan online, through GyanDhan. Students applying through GyanDhan have a higher chance of loan approval too. So why delay further Get in touch here soon.
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