How can I get education loan before admission?

You can apply for education loan before getting admission confirmation from University / College. If your case is approved, you’ll get a conditional loan sanction letter. This helps many students get confidence that their funds can come from HDFC Credila.

Can I get education loan for direct admission?

Yes definitely. You can. Meritorious students with decent marks, reading in private colleges and institutions under management quota are eligible for such education loans. This clause has been incorporated by the Indian Banks’ Association in its revised model education loan scheme.

What is pre approved education loan?

What is a pre-approved loan? A loan given to students for pursuing higher education based on an assessment of their potential. The loan can be availed digitally, without any documentation, before deciding their MBA college.

Is student loan a good idea in India?

In either case, an education loan is a good idea and a commonly sought after resort. Pursuing higher studies usually involves high fees and an education loan comes in handy at this point. Such loan is offered to students who want to study in India or pursue higher education overseas.

Is property needed for education loan?

To get a loan from a lender, you generally have to pledge security such as house property, fixed deposits, shares, bond, etc., to take the loan. There is no margin requirement if you apply for a loan within this limit through a scheduled commercial bank under the CGFSEL scheme.

Who can apply for an education loan?

Applicable for all: Any student who wants to study can apply for an education loan. Even the economically backward sections of the society can take education loans under the government-sponsored subsidy schemes such as ‘Central Scheme to provide Interest subsidy’ (CSIS).

What is Incred education loan?

Incred Financial Services is a non-banking financial corporation registered with the Reserve Bank of India. It gives an education loan without collateral of up to INR 40 lakhs. This includes a variety of fees and other expenses. Incred covers over 700 universities in the USA, Canada, France, Netherlands, Germany, Singapore, Ireland, and Australia.

What is the best loan amount for studying in India?

Varied loan amounts: Banks can offer loans anywhere between Rs. 2 lakhs and 22 lakhs for studying in India. Of course, the size of the loan depends on the course applied for. To study abroad, the loan amount goes up to Rs.20 lakhs. Helps in completion of education: The expense curve of education is increasing with inflation and shifting prices.

What are Avanse education loans?

An education-focused non-banking financial company, Avanse offers educational loans without collateral for studies in over 40 countries and 100 universities. It affords students with 100\% tuition fee coverage, complete living expenses cover and partial travel expenses cover. Such loans are subject to a high degree of scrutiny before approval.