Higher education overseas degrees will obviously need substantial funding. Expenses can include housing, living, tuition, and others. Hence, it would help if you plan your financing accordingly ensuring the necessary funds are available as required.
A student loan can finance all your education expenses. So, if you are looking to avail credit, you should know how to get a student loan.
There are different variants of student loans you can avail, they are either unsecured or secured.
A secured student loan such as a loan against property or LAP can be a more suitable loan option. Features include –
- Huge loan amount
The loan amount can go up to Rs.3.5 crore. So, from one loan, you can cover up all your education costs.
- More affordable interest rates
Loan against property for education is a type of secured loan where you can mortgage your property to avail a credit. Hence, the interest rate is affordable. So, you can avail the loan to study in the best colleges in the world.
- Multiple tenors
This student loan comes with multiple tenors ranging between 2-20 years. Hence, you can repay the loan amount according to your financial strength.
- Eligibility criteria
Indian residents, both salaried and self-employed, can apply for the loan. Salary slips, bank statements, KYC documents, copy of the documents related to the property need to be submitted while applying for it.
To sum it up, a loan against property for education is an easy and convenient way to finance all your expenses regarding higher education. All you need to know is how to get a student loan.
Steps to get an secured student loan
- Choose a lender. Consider the loan terms and conditions offered by multiple lenders before making a choice.
- Apply for the loan and submit all required documents.
- Make sure you have a healthy CIBIL score pre-application.
- Enjoy fast approval by mortgaging a high value property with zero litigation on it.
Avail a secured student loan to meet all your financial requirements with ease. Refer to leading lenders for the most beneficial loan terms as well as competitive interest rates.
You can download the online loan app for instant approval.