As a parent, you will always have the best interest in your mind for your children. You will want them to study in a reputed school and provide them within excellent opportunity for their higher education. However, school and college costs are mounting every year. A pre-school admission for a year itself comes up to Rs. 1 lakh. As your child steps into primary and secondary education, these expenses keep climbing thereafter. But in case of a deficit in funds, you can opt for personal loans and use that to fulfill any expense related to academics.
We, at SMFG India Credit, provide a loan amount for studies in a short time. This is why; the product also carries the name – instant personal loan for education. Such type of loan is different than a traditional education loan in the following ways:
The key features and benefits of SMFG India Credit personal loan for studies include:
Listed below are the eligibility criteria for an instant loan for education:
The list of documents required for an instant loan for education are:
Personal loans for further studies can be obtained at SMFG India Credit at affordable interest rates and flexible tenures. You can avail of a personal loan for further education for up to INR 25 lakhs* and use the funds to manage your travel, accommodation, tuition fees, books, research fees, and other academic expenses without any restriction of application. Please note however, that personal loans are only provided to eligible borrowers who are salaried or self-employed. Check out personal loan eligibility criteria and online EMI calculator to know more.
To apply for a personal loan for further studies, you must be a Resident Indian of an age between 21 and 65 years. The following are the other eligibility terms:
If you are still a student, and/or need a loan to pursue a full time course, you can ask a parent / guardian or a close family member with a good credit score and stable income to apply on your behalf. To check your eligibility, you can check out our personal loan eligibility calculator.
For a study loan for their children, parents can apply for a personal loan with SMFG India Credit. A personal loan for study or further education can also be a great option for working professionals looking to finance their studies without incurring the high interest rates associated with traditional student loans. The eligibility conditions vary according to monthly income and credit score. Basic conditions include the following:
You can also check out our personal loan eligibility calculator to know more.
Self-employed and salaried people can apply for an instant loan for students. The age of the borrower must be over 21 years. Regular monthly income is necessary to apply for the funds.
Personal loans for students cover for any expense related to the studies. The financial assistance could be for a school fee or funds for your child’s higher studies. You may use the instant loan for students to purchase books, uniforms, school projects, or other education-related costs.
Tenure for an education loan is between 12 months and 60 months. We at SMFG India Credit will chalk out a repayment schedule for the instant loan for students as per your financial feasibility. This will allow you to make the most out of the offer.
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