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Overview
An Education Loan also often called a student loan is an amount you can borrow from Banks/financial instituitions towards paying for your academic fees or for that of your loved ones’. These are generally sought for higher education and/or specialised courses in esteemed institutes for located overseas or domestically.
The lender will determine which courses are qualified for an education loan. An education loan may be obtained for courses beginning in Nursery. You can acquire a loan for full-time or part-time courses, as well as loans for working professionals, for higher education.
Eligibility Criteria
At Rupaiyabazar, we partner with you to fulfil your dreams with customized Education loan schemes. Our Education loan eligibility criteria are easy to comply with.
- Permanent Resident of India
- Secured at least 50% marks during HSC & Graduation
- Age: Above 18 Years
- Source of Income: Parents or Guardians
Interest Rate
- Interest Rate: 7.9%
- Loan Amount: Rs 1500 - Rs 10 Lakhs
- Loan Tenure: 3 to 5 Years
- Processing Fee: 2% of loan amount
- Early Payment Fee: 2% of outstanding loan amount
- Late Fee: 2% of EMI amount per week
Required Documents
Apply for Education Loan to Rupaiyabazar is simple and straightforward. Documentation and other procedures are kept to a minimum for your comfort.
- Admission letter
- Age proof
- ID proof
- Address Proof
- Bank account statements
Loan Calculator
Calculate your personal loan EMI with the help of Rupaiyabazar Personal Loan EMI Calculator.
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Co-applicant should normally be parent(s)/guardian of the student borrower. In case of a married person, joint borrower can be either spouse or the parent(s)/parents-in-law as a co-applicant for Education Loan.
Opting for an education loan reduces the strain on existing savings and eliminates the need to liquidate the existing investments. The interest on an education loan is eligible for a tax rebate under Section 80 E of the Income Tax Act 1961
To apply for education loan online one needs to visit the bank’s website
The student applying for the education loan must be a resident of India. He/she must have confirmed admission in recognized educational institutes in India or abroad.
The education loan can be paid using any online channel like net banking, mobile banking etc. The Borrower will have also a choice to pay the Education loan by visiting the nearby branch.
Features & Benefits
get in touch
If you have any doughts or questions feel free to contact us. We are always open to answering all you queries.
Address:
Street name and number 3333, District and country Zip. 004560
Open Hours:
Mon – Fri 9:00 – 18:00
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