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Education Loan for India and Abroad
No Collateral Required
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100% Online Process
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Low Interest Rates
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Quick Disbursal
Why InvestKraft?
We are India’s fastest growing fintech company with all BFSI services on one platform.
Get a Education Loan up to 50 Lakhs
What is an Education Loan?
An education loan is a type of personal loan that you can take to pay your dream college tuition fees, accommodation fees, and other associated fees and charges. Education loans are both secured and unsecured. And, you can get an education loan to study in Indian colleges as well as abroad. With InvestKraft, you can get a lower education loan interest rate with faster processing and quicker disbursal.
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Education Loan EMI Calculator
Now, calculate easily the EMIs you need to pay for your education loan, using the InvestKraft education loan EMI calculator.
Features and Benefits of an Education Loan From InvestKraft
Planning to study in your dream college, but worried about funds? Well, do not worry. InvestKraft education loan will help you fulfil your studying abroad dreams without burdening your pocket. The following are some of the great features and benefits of an education loan from InvestKraft:
| Features | Benefit |
|---|---|
| 100% Digital Process | Apply online from anywhere with a fully paperless, branch-free experience. |
| Minimal Documentation | Submit just a few basic documents and get your application processed quickly. |
| Affordable Interest Rates | Get lower, repo-linked education loan interest rates, reducing your monthly EMI burden. |
| Quick Approvals | Instant loan decisions and fast disbursal mean no delays in your academic journey. |
| Higher Loan Amounts | Higher loan amount based on your eligibility and financial credibility. |
| Zero Collateral Needed | No need to pledge property or assets. Get a study loan without collateral. |
| No Prepayment Charges | Repay early without worrying about any penalty or hidden charges. |
. Completely Digital Loan Application
You don’t need to visit any branch or office to apply for an education loan with InvestKraft. The entire application process is 100% digital which means you can check the eligibility criteria online and apply for an education loan with InvestKraft today.
Minimal Documentation
While applying for an education loan, there is no need to upload a lot of documents. At InvestKraft, we have put in place an easy documentation protocol which means you will be asked to submit fewer documents to avail of this loan. Upload a few documents and expect to get faster approval on your application.
Affordable Interest Rates
Our education loan comes at relatively lower interest rates. Since our interest rates are repo-linked, you can expect to shell lower amounts in your EMIs against the borrowed loan amount. At InvestKraft, your monthly EMI would be much lower than other lenders.
Faster Approval
Don’t need to worry if you made up your mind at the last minute. You can apply for an education loan with InvestKraft anytime, anywhere and we make no delay in assessing your application and approving if everything falls in your favour. Our loan approval process is fully digital and the loan amount will be transferred to your bank account in no time.
Higher Loan Amount
Due to the rapidly surging inflation rate, things have become costlier like never before and we are fully aware of the same. You can easily avail an education loan of 30 lakhs from InvestKraft anytime for domestic education and up to Rs. 70 lakhs for overseas education. So, stay rest assured about the money when it comes to dealing with lenders through InvestKraft.
Zero Collateral
To avail of an education loan from InvestKraft, you don’t need to pledge any security or collateral with us. Our education loan is an unsecured loan which means if you are eligible for the loan, you can get the approved loan amount right in your bank account without pledging any security.
No Prepayment Penalty
You can easily choose to prepay your pending loan amount without facing any kind of penalty amount. This makes InvestKraft’s education loan for women an easy affair in all aspects of education funding.
Do not compromise your dreams of higher education. Apply for InvestKraft education loan and let us start the next chapter of your life.
Who Can Apply for an Education Loan?
The following can apply for an education loan:
| Applicant Type | Eligibility Description | Apply Link |
|---|---|---|
| Students | Individuals pursuing undergraduate, postgraduate, diploma, or professional courses. | Apply Now |
| Parents | Parents can apply on behalf of their children to cover education-related expenses. | Apply Now |
| Legal Guardians | Guardians of the student can take the loan responsibility if the parents are unavailable. | Apply Now |
| Self-employed Individuals | Can apply for a study loan for themselves or their children’s higher education. | Apply Now |
Individuals pursuing higher education, such as undergraduate, postgraduate, or professional courses.
Parents can apply for education loans on behalf of their children to fund their education.
Legal guardians can apply for education loans for their wards.
Self-employed individuals can apply for education loans to fund their own education or that of their dependents.
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Eligibility Criteria for an Education Loan
If you have made up your mind to get an education, the first thing you should check is the eligibility criteria for the same.
- Age: The age of the student should not be over 40 years at the time of application. The age of the co-applicant should lie between 21 and 58 years.
- Occupation: The applicant can be either a salaried employee or self-employed.
- The student should be a resident of India.
- The student must have admission approval to the said course (Both domestic and overseas)
Documents Required for an Education Loan
The next thing to look for is the documents required to avail an education loan from a reputed lender through InvestKraft. You need to arrange the following documents that are generally demanded by a lender:
- KYC
- Mark sheets of 12th, graduation and entrance exams
- Admission letter
- Fee structure
- Income Proof
Additional documents may be requested in case of collateral required.
- Accepted Security/ Collateral:
- Residential/ commercial property/ plots (Non-agricultural)
- Fixed deposits.
How To Apply For an Education Loan from InvestKraft?
Getting an education loan is simple and easy. In just 3 easy steps, you can get the funds for studying in your dream college:
Apply Education Loan
1Fill in Your Details
Start by filling out our easy application form with your basic information and click Submit. You can use our app to get a vehicle loan as well.
2 Upload Your Documents
Submit the required documents online, such as ID proof, income proof, and bank statements. These will be communicated to you once you provide your basic information.
3 Get the Funds
Once your documents are verified and the loan is approved, the required amount will be credited directly to your bank account.
Education Loan Interest Rates and Other Charges
The following are the education loan interest rates and other associated charges. Please go through them for a better understanding of your education loan and make an informed decision:
| Charge Type | Details |
|---|---|
| Interest Rate | Starts from [REPO Rate + 3.45% (Spread)]. Final rate depends on the lender. |
| Processing Charges |
IDFC First Bank: Up to 1.5% (for loans above INR 7.5 Lakhs) Axis Bank: Up to 2% of the loan amount + GST |
| Pre-closure Charges | No charges applicable |
| Bounce Charges | No charges applicable |
Please note that these charges depend on the lender and may vary as per the marketing conditions. We recommend that you check the official website before applying.
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Frequently Asked Questions
There are several reasons to choose an education loan to finance your child’s education.
- Lower interest rates – Lenders at InvestKraft levy affordable interest rates on education loans as compared to other types of loans that are on offer.
- Tax benefits – You can also get income tax benefits when you take an education loan under Section 80E of the Income Tax Act of 1961.
- Flexible repayment – Due to longer repayment tenure and extended grace period, repaying an education loan is easier than you think.
In typical cases when everything is set, it doesn’t take more than 7 days to get the education loan disbursed.
Applying for an education loan through InvestKraft can save your time as the process is completely digital. You can expect quick approval, fast disbursal, lower interest rates, higher loan amounts, and more.
Digital Journey
Lower Interest Rates
Easy Documentation Process
