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Why a Personal Loan for Education is Ideal for Higher Studies

By Anamika Verma

Whether you are studying in a different city, or in a different country, higher education adds to your resume in a significant way by creating the potential of higher income and better job opportunities. However, this also comes with a heavy price tag. Opting to study in a prestigious institute or choosing a specialized course can be even more expensive. However, you need not put off such an opportunity because of a cash crunch as you can use a Personal Loan for higher education to pay off the expense.

Taking a higher education loan can be pocket-friendly if you choose the right lender. For instance, taking a Higher Education loan from NBFCs can give you funding up to Rs.25 lakh at low interest. What’s more, this affordability comes with added benefits. Take a look at the advantages below.

It gives you a substantial amount for all your educational needs 

This higher education loan is collateral-free, which means you do not have to pledge your personal assets. Additionally, you can fund all your needs like course fees, traveling expenses, visa, accommodation needs, lifestyle requirements, tickets for visiting home, tuition costs and more with a substantial amount of up to Rs.25 lakh. 

It has simple and fast processing to cater to urgent needs

Whether your needs are well-planned or last-minute, a speedy loan is just what you need to reduce the extra hassle. After all, higher education can call for a long to-do list in order to prepare for the same. Personal Loan eligibility criteria are simple and can be proved effortlessly with the most minimal documents. The online application for this loan is easy and you can receive approval on your loan application within 5 minutes. Furthermore, disbursal of funds doesn’t take more than 24 hours post document verification. This allows you to start making plans and arrangements at the earliest possible time.  

It has flexible borrowing and repayment options

A flexible loan tenor ranging from 12 months– 60 months allows you to choose the most suitable EMI for your monthly expenses. You can use an education loan interest rate calculator to forecast the same in order to select the ideal tenor as per your financial status. Additionally, you can avail one of the most comfortable education loan repayment plans by selecting the Flexi Loan facility. This facility is especially useful at times when you cannot determine the exact figure for your financial needs. It allows you borrow as per your needs, multiple times, while you are charged interest only on the used amount. You can also prepay at no additional cost. Furthermore, if you are expecting funds in the near future, you can choose to pay interest-only EMIs and repay the principal amount at the end of the tenor.

As you browse through educational choices to select the best course, simultaneously plan your finances by checking your pre-approved offer for a Personal Loan for education. This helps you save more time and avail instant financing.

 

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Higher Education Loan, Higher Education Loan, Loan Eligibility Criteria, Loan Eligibility Criteria, CIBIL score, CIBIL score,

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