Features of education loan in India

Posted by dishamehta2016 on May 18th, 2017

Quality education is important to build a successful life. Education loans have widely come into the picture in the last two decades. Though there are options of private finance and traditional finance. They are not affordable and offer less flexibility in the repayment period. The best education loan in India can be availed at a lower interest rate of around 12.75 % with a nominal processing fee of 1-2 % of the loan amount. All the banks and non-banking financial institutions in India offer education loan in India and the demand for these loans has remained constant throughout.

What are the features of the best education loan India?

Education has become expensive:

Over the years there is an increase in the cost of education. The best education loan in India frees you from the task of hoarding the money for your son’s or daughter’s education. A good education loan manage all the expenses of the education which includes the course fees, the library fees, the laboratory fees, the traveling expenses and the living expenses.

Education loans don’t surprise you:

Education loans keep you safe from the unexpected surprises. You can top up the loans in case if there is any need to top up. The education loan is more organized and seamless. You don’t feel burdened for the repayment of the loan.

Flexibility in the repayment options:

The best education loan in India offer flexibility in the repayment options. The interest rates are also set as per the needs. Some of lending institutions offer concession to the female students. They also offer moratorium period option to the ones who wish to opt for. Hence, the study loan is made more affordable and feasible with the time.

Timely assistance is provided:

They provide timely assistance to the ones students which is necessary to complete the course on time.  They guide and counsel the students from time to time  by the education experts. This helps the students to choose a right kind of field and also they can choose wisely for a better future. A full-fledged education loan eases the efforts you and your family.

Collateral security:

For loans below 4 lakh no security is required. Between 4 -7.5 lakh a third party guarantor is required. For study loans above 7.5 lakh any collateral security of the same value is accepted. Education loans are provided all types of courses from academic to professional courses. By opting for a study loan the students get a chance to build up a good credit score which will help them in future be it during setting up of a business or anything. Before availing for the best Education Loan In India it is necessary to compare these study loans online. Compare the loan amount, the tenure of repayment, the options of repayment, the interest rates offered by various lending institutions online.  Online comparison will help you avail for a study loan which suits your needs the best and you can repay off easily without any burden.