As a parent do you wish your child to study abroad but face financial difficulty? If yes, then education loan for studying abroad is the option available in the market to facilitate the necessary funds for higher education. Most of the time, escalating cost of education, expenses of abroad and the financial capability of a parent can be the major barrier.
There are several reputed banks and non-banking financial companies that offer a loan for education at the lowest possible interest rate. After reading this post you will be able to know how to get education loan in India for higher education (Graduation or Post Graduation).
This interest rate ranges from 11% to 18%. Just meet the specific requirement set by these banks and NBFCs and you get the loan approved in just a few hours. Here are a few eligibility criteria that you need to meet in order to get it approved easily.
The applicant should be the Indian residential
Collateral security is required
Applicant’s age should be between 16-35 years
It is mandatory to have a co-applicant with specified salary
The candidate should have secured admission in the desired college for which the loan is required
Along with the eligibility criteria, it is necessary to facilitate needed document like-
Age proof and school certificate
Income proof of guarantor and copy of admission letter
Address proof like passport, Aadhaar card, voter ID, etc
Bank statement of the co-applicant and income proof of the guarantor
Once you have all these documents ready, you can now apply for the education loan for studying abroad to get degrees like MBA, M.Sc., MS in US and many more. Just pick the Bajaj Finserv as this is the best NBFC that easily approves an educational loan with minimum processing time and with simple terms.
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