Education Loan

Turn your academic aspirations into reality with CredBuddha's education loan aggregator platform. We offer competitive interest rates and flexible terms, making higher education accessible and affordable. Apply seamlessly for student loans from over 30 top banks and NBFCs. Discover the best education loan schemes tailored to your needs.

Top Banks and NBFCs Offering Education Loans Through CredBuddha:

• Aditya Birla Education Loan: Starting from 10.99% p.a.
• Tata Capital: Starting from 10.99% p.a.
• Money View: From 1.33% per month onwards
• IIFL: Starting from 13.50% p.a.
• Bajaj Finserv Education Loan: From 10.10% p.a. onwards

Education Loan Features and Benefits:

• Interest Rates: Compare and find the lowest rates suitable for you.
• EMI Calculators: Easily estimate your monthly installments.
• Eligibility Criteria: Check eligibility based on age, academic record, and more.
• Documents Required: Streamlined documentation process for quick approval.
• No Collateral Needed: Access funds without security or guarantors.
• Tax Benefits: Enjoy deductions under Section 80E of the Income Tax Act.
• Flexible Repayment Options: Tailored plans to fit your financial capability.
• Simple Application Process: Hassle-free online application with quick processing.

Education Loan Types Available:

• Domestic Education Loans: For courses within India.
• Study Abroad Education Loans: Covering international education expenses.

List of Covered Expenses:

• Tuition fees, accommodation, study materials, exam fees, and more.

Education Loan Repayment Options:

Monthly installments, pre-payment, and part-payment facilities available.

Comparing NBFCs and Banks:

Interest Rates: Generally lower at banks.

Loan Amounts: Higher at banks.

Processing Fees: Potentially lower at banks.

Approval Speed: Faster with NBFCs.

Eligibility Criteria: More flexible with NBFCs.

Documentation: Minimal with NBFCs.

Eligibility Criteria:

• Age: 18 years to 35 years
• Nationality: Indian
• Academic record: Proven to be good
• Income source: Parents/Guardians with stable income
• University: Recognized in India or Abroad
• Admission Status: Confirmed admission in the University
• Security: Based on the loan amount and income source, tangible collateral or guarantor may be required

Required Documents:

• Filled & signed application form with affixed photographs
• Mark sheets of 10th/12th or latest education certificate
• Statement of the cost of the course
• Age proof: Aadhaar Card, Voter ID, Passport, Driving Licence
• Identity proof: Voter ID, Aadhaar Card, Driving Licence, Passport
• Residence proof: Rental agreement, Bank statement of 6 months of the student or co-borrower/guarantor, Gas Book / Electricity Bill / Tel Bill
• Income proof: Salary slips/Form 16 of the parent/guardian/co-borrower, Bank statement (last 6 months) of the borrower, ITR of two years of parent/co-borrower/guardian

Frequently Asked Questions

1. How quickly can I get loan approval?

Approval times can vary by lender, but many of our partner lenders offer fast approvals, often within minutes once your application is complete and verified.

2. What are the eligibility criteria for applying for a loan?

Eligibility criteria vary depending on the lender. Common factors include your age, income, employment status, and credit history. Each lender’s specific requirements will be detailed during the application process.

3. What is the minimum salary requirement for a loan?

The minimum salary requirement usually starts from ₹10,000 per month. However, this can differ among lenders. Please check the specific requirements for each loan product.

4. Can I get a loan without providing income proof?

Yes, some lenders offer loans without requiring income proof, but these are subject to specific conditions and may have higher interest rates. Check the lender's conditions to see if you qualify.

5. What types of loans are available through your platform?

Our platform connects you with various types of loans, including personal loans, home loans, business loans, education loans, and more. Each loan type has different terms and conditions.

6. Are there any processing fees or hidden charges?

Processing fees and charges depend on the lender and the loan type. All applicable fees will be clearly disclosed during the application process, ensuring transparency.

7. How do I compare loan offers from different lenders?

Our platform allows you to compare loan offers based on interest rates, loan amounts, repayment terms, and fees. Use our comparison tools to find the best loan for your needs.

8. What documents do I need to apply for a loan?

Required documents vary by lender but typically include proof of identity, address, and income. Some lenders may require additional documents based on their policies.

9. How do I apply for a loan through your platform?

To apply, select your desired loan type, fill out the online application form, upload any required documents, and submit your application. Our platform will match you with suitable lenders.

10. Can I get assistance if I have trouble applying for a loan?

Yes, our customer support team is here to help. If you encounter any issues or have questions during the application process, please contact us via phone, email, or live chat.