Everyone
of us have the drear dream of providing our children with the best education,
whether it is overseas or correspondence. Many opt for loans that are out of
urgency and thus fail to research on loan with lower interest rates. Are you
looking for an education loan with good tenure and EMI?
Buddy Loan is one of the
biggest loan aggregators in India that disburses loans at lower interest rates starting
at 11.99% p.a. They also have customised EMI options that help you work your
credit score with ease.
Education
loan is for those who have shortage of funds while education loan plays an
important role now. This helps solve your problem of shortage.
Availing an education loan:
Educationloan covers the basic criteria of spends like tuition fee/course fee,
accommodation, exam fee and other miscellaneous charges. In this case, a
student becomes the borrower, wherein a co-applicant can be their spouse,
sibling or a parent.
The
cost of courses over the years have increased with the increase in
specializations and certifications. If a borrower is looking forward to pursue
education overseas then a loan with lower interest rate might be his best bet
to start his credit journey.
However,
Buddy Loan dispenses loans
starting from Rs. 1000 to Rs. 15lacs and evenly more up on your requirement.
The loan tenure for the above loan amount is from 3 months to 5 years. You can
have a customised EMI option to avoid defaults and more so with the proactive
planning of your income post/during studies
The
best benefit of an education loan is that it is an unsecured loan if you avail
it via Buddy loan. Meaning the lender will not ask you to pledge any asset or require
any collateral to sanction the loan.
Eligibility criteria
There
is certain specification for student loan or education as the borrower will
have to be 18 and above to apply. A good academic background can imply that you
are eligible for employment and thus loan repayment.
Providing
an admission certificate at the any of the overseas but recognised
universities/ institutions/ colleges will help ease your loan process. Since,
banks & other financial institutions or NBFCs give preference to borrowers
who opt loans for professional courses, choose wisely.
EMI & Tenure
Buddy Loan disburses
education loans for a loan tenure of 3 months to 5 years. The better option is
that you could tell your lender if there are certain concerns and EMI payment
can customise such that it only enhances your credit score.
Conclusion
Education
loan is considered as the first loan in a person’s life. It could be used for
schooling, overseas education and more. This loan is very important to imbibe
better credit score, as it helps you with getting home loans, car loans, travel
loans quite easily in the future.
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