| Loan Amount | ₹100,000 |
| Interest % | 8 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,699 |
| Total Interest | ₹ 4,386 |
| Loan Amount + Interest | ₹ 104,386 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 16,118 | ₹ 1,280 | ₹ 17,398 | ₹ 83,882 | 16.12 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 83,884 | ₹ 3,106 | ₹ 86,990 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
If your Education Loan Approval is time-consuming, it could hamper your chances of pursuing your dream course. Hence, we have made the process easy and quick for all our applicants.
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
One of the most important steps. Now you will have to submit all the required documents digitally.
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
Applicant must be an Indian Resident
Applicants must be between 18 and 35 years of age when applying for a loan.
Applicants must be undergoing a graduate/postgraduate degree or a PG diploma.
Applicants should have secured admission to a college or university affiliated with the University Grants Commission (UGC)/All India Council for Technical Education (AICTE)/Government etc.
Full-time students must be accompanied by a co-applicant, who can be either a parent or guardian or spouse.
The Co-applicant must have a regular and reliable source of income
PAN Card
Aadhaar Card
Driving Licence
Voter ID
Passport
The administrative fee levied by lenders is split into two parts- the part charged after the loan sanction, and the part which is known as the administration fee.
When a borrower requests their lenders to change their existing repayment mode during the loan tenure, there is usually a fee associated with it. This fee can range from Rs. 500 to Rs. 1,000 per instance (swap).
The CERSAI website is a central online security interest registry in India that allows potential lenders to check whether the pledged property is not claimed by some other lender.
An education loan is the best financial aid for pursuing further studies abroad or nationwide. A student can avail of an education loan that will cover the finances of his/her overall educational needs, that includes tuition fees, hostel fees, etc.
If you fail to repay your education loan, the lender will send reminders to you and your guarantor. Failure to heed the warnings will result in loan default, negatively impacting your credit score. Ultimately you won’t be able to get any further loans in the future.
Yes, it is possible to cancel an education loan even after its approval. However, you must be familiar with the requirements to follow to cancel the education loan. You must present certain proof in addition to fulfilling certain requirements to satisfy those particular requirements.
The answer is Yes, only if you meet the conditions for a second education loan. You have the option of getting this loan from the same bank from where you took the first loan or even look for a different lender.
