When students prepay their loan after 6 months of the disbursement date, then no charges will be levied for early closure of the education loan.

The loan is disbursed in INR and is transferred either to the co-applicant’s bank account or directly to the college/university, based on specific requirements.
What security can be provided to avail a secured loan?
The following assets can be utilized as security or mortgaged to obtain a loan:
1. Residential Property (e.g., House/Flat/Apartment/Plot)
2. Life Insurance with surrender value equivalent to the required security coverage
3. Fixed Deposit

A student can apply for a loan after receiving the I-20 from the college/university. However, applying for a loan before obtaining the I-20 has certain advantages, including the ability to check eligibility beforehand, alleviating concerns about funds during the visa application, and gaining almost 100% assurance of admission from the university by showcasing the entire amount of funds.
What security can be provided to avail a secured loan?
The following assets can be utilized as security or mortgaged to obtain a loan:
1. Residential Property (e.g., House/Flat/Apartment/Plot)
2. Life Insurance with surrender value equivalent to the required security coverage
3. Fixed Deposit

Eligibility depends on factors such as the profile, co-applicant’s salary, and the monthly EMI for the outstanding loan amount. Students need only submit the loan application, and we will assess eligibility and strive to secure the maximum loan amount at an affordable interest rate.

Yes, students with admission to reputable institutions receive preferences such as a desired loan amount and reduced interest rates, even with less impressive financial profiles.

Sponsors can include anyone working abroad, whether salaried or self-employed, such as father, brother, mother, sister, maternal/paternal uncle or aunt, cousin brother, etc.
When does the loan EMI start, and what is the maximum tenure for loan repayment?
Loan EMI begins after course completion with a grace period of 6 months to 1 year. The maximum loan repayment tenure is 10 years.

1. Before admission: At the time of receiving the final admission letter, especially for U.S. universities.
2. Before the visa: After receiving the final admission letter to showcase funds for a student visa.
3. After the visa: For paying fees for forthcoming semesters, if additional funds are needed.
4. Balance transfer on existing loan: Transferring an education loan to another provider after paying university fees.

For students with property in India, putting it as security for education loans might not be beneficial in the long run. Opting for an unsecured loan, without mortgaging property, up to 50 lakhs (depending on the student’s academic and financial profile) can be advantageous. Unsecured loans offer competitive interest rates, and the slightly higher ROI is outweighed by the absence of the risk of losing mortgaged property in case of non-repayment.