Majority of parents in India find it difficult to support their children financially in their dream of pursuing higher education. However every parent has a dream to see their child progressing and achieving success. With new age courses and institutions demanding high fees andspiraling cost of education expenses arranging sufficient finance becomes a major constraint for the students who aspire to receive an education of higher order. Thus to overcome this financial barrier many of them take education loan in India from banks and other private finance companies.
There a lot of government schemes, banks and other private finance companies which provide Study Loans for the students in India and abroad? These private finance companies are called as NBFC’s (Non-Banking financial company) and are regulated by the Reserve Bank of India. These companies offer customized education loans to the students. They offer 100 % loan amount coverage at an interest rate of 12.75%. These companies do not have an upper limit and offer loans at 1% processing fees on the loan amount.
Availing education loan in India through private finance companies is an easy and hassle free process. They offer a variety of education loans which include the pre visa disbursement loan, bridge loan, pre admission loan, fast track loan and also provide the certificate of availability of funds in case they students wish to study abroad. They sanction the loan in 4 days period and have a transparent and easy process of providing loans as per the student’s convenience. They offer free consultation and door step service so the student does not have to worry about searching and selecting the loan that would bemeet theirneeds.
Taking education loan in India through these private finance companies is no more a difficult task. As these companies provide education loans at no margin money, the extra burden of the student vanishes and he or she can completely focus on the course. Students today have become independent and want to become self-made professionals. They do not want their parents to take the burden of the educational finance in addition to their responsibilities. These NBFC’s provide flexible repayment options to the students. A student can avail any of the repayment option and pay during the course, after the completion of the course or after getting a job. They offer a good moratorium period of 6 months after the completion of the course or 3 months after getting the job. To avail the education loan in India student needs to submit his or her KYCand other education documents, course and fee details and the co- borrower KYC and Income documents. They would require a collateral security against the loan. This can be the residential property, fixed deposit, life insurance schemes, or a non-agricultural land can be kept as collateral.
Scoring good marks in the entrance exams is a difficult task and many students put a lot of efforts in scoring good marks in these exams. These private finance companies also provide special score based benefits to the meritorious students so that every deserving student’s hard work pays off.
Thus by availing an education loan in India through these NBFC’s you can easily give wings to your dreams without thinking of the financial barriers coming in your path of success.