Education Loan Features

Features and Benefits of our Education Loan

• Attractive Interest Rates: People Grow Financial Solution offers competitive interest rates on education loans, making higher education more affordable for students and parents alike.
• Flexible Loan Amount: Whether you're pursuing education in India or abroad, get funding that covers tuition fees, hostel expenses, books, travel, and other study-related costs.
• Customised Loan Options: Choose from tailored loan options for undergraduate, postgraduate, professional, and vocational courses across recognised institutions.
• Flexible Repayment Tenure: Enjoy flexible repayment terms ranging from 5 to 15 years, with the option to start repayment after course completion or moratorium.
• Quick Approval and Disbursal: Fast and seamless application process with minimal documentation and quick disbursal of funds to the educational institution.
• No Collateral for Smaller Loans: Avail unsecured loans up to a certain limit without the need to pledge property or other security.
• Tax Benefits: Under Section 80E of the Income Tax Act, claim tax deductions on interest paid on education loans.

Eligibility Criteria for Education Loan

The following criteria generally apply to applicants seeking an education loan:

• Nationality: Applicant must be an Indian citizen.
• Age Limit: The student should be between 18 to 35 years of age.
• Academic Qualification: Must have secured admission to a recognised university/institution in India or abroad.
• Co-Applicant Requirement: A co-applicant such as a parent, spouse, or guardian with a steady income is generally required.
• Creditworthiness: The credit score and repayment capacity of the co-applicant are considered for loan approval.
• Courses Covered: Loans are offered for graduation, post-graduation, diploma, and professional courses in various streams.