Quality education is of prime importance to any individual, and students go the extra mile to achieve that. However, the cost of education is on the rise lately and opting for an education loan seems to be the single best solution.

An education loan is a loan that students apply to meet the financial requirements to complete their course. Many banks and NBFCs in India offer education loans at competitive rates to help educate the upcoming innovators and leaders.

Features and Benefits

• The loan amount can go up to Rs.1 crore for international students and up to Rs.50 lakh for domestic students.
• 100% financing available for certain conditions.
• The financing covers other expenses, such as student exchange travel expenses and laptop.
• Preferential forex rates may be available for international disbursements.
• Parents should be joint borrowers for the education loan.
• Loan repayment tenure can go up to 15 years.
• Loan moratorium period of up to 6-months to 1 year from completing the course.
• Tax benefits up to 8 years on the loan interest payment.