InCred is a leading digital lending NBFC in India that offers a wide range of loans, including education loans for students looking to study abroad. The company aims to make the process of obtaining an education loan hassle-free and accessible to students from all backgrounds. One of the key advantages of an InCred abroad education loan is that it covers a range of expenses associated with studying abroad, such as tuition fees, accommodation, travel expenses, and other miscellaneous expenses. The loan amount can vary depending on the course, institution, and country of study, but InCred offers loans up to INR 60 Lakh.
| Features | Description |
|---|---|
| Loan amount | Up to INR 60 Lakh |
| Rate of Interest | 11.50% - 13.25% |
| Processing fees | 1 - 2% |
| Processing time | 7-10 days |
| Margin Money* | nil |
| Moratorium period* | Course duration + 1-year |
| Repayment Tenure | 15 years |
Age:The applicant must be an Indian citizen and at least 18 years of age or older at the time of application. The student should have secured admission to a recognized university.
Academic performance:To be eligible for an education loan, the applicant must have a consistently impressive academic track record and meet the minimum academic requirements stipulated by InCred. Additionally, the student must have successfully completed prerequisite exams, such as the GRE, IELTS, or TOEFL. It is important to note that when applying for a loan in the US, a good GRE score can significantly improve the chances of securing funding.
Co-applicant:To apply for a loan, the borrower must have a co-applicant, who can be their mother, father, sister, brother, spouse, a relative from their paternal or maternal side, or a legal guardian. The co-applicant must have a reliable source of income and a positive credit history.
Course and country of study:Under this scheme regular graduate degree/post-graduate degree/diploma/certificate/doctorate courses in any discipline offered by foreign Institutes/Universities in the USA, UK, Canada, Australia, New Zealand, France, Germany, Ireland will be covered under the scheme.
Students Channel provides a customized documents list for InCred education loans, which depends on your profile, your co-applicant profile, and any property/asset, you may offer as collateral.
Students Channel stands firmly by its commitment to provide you with the most competitive education loan available in the market. We strive to secure the best possible deal for you. In the unlikely event that you come across a better offer, we will cover the difference in interest rates for the entire duration of your education loan.
Students Channel works closely with different departments within InCred to expedite the loan approval process, typically completing it in 5-7 days. This efficiency is the reason why thousands of students trust Students Channel with their abroad education loan requests every year. In contrast, if a student were to apply directly to the NBFC, the loan processing time would generally take around 10-12 days.
Students Channel provides their services to applicants completely free of charge, without any fees being charged.
The expert education loan counsellors at Students Channel compare the loan products of different lenders to identify the most suitable loan option for your needs. This involves comparing the interest rates, loan amounts, repayment terms, fees, and other features of different lenders.
The Students Channel online document upload facility allows you to submit documents from the comfort of your home and get your loan approved. No need to physically go to the NBFC to submit documents! Also, we will send you notifications to keep you in the loop about the stepwise updates.
We want to create a platform where every student can find information about Abroad Education easily and thereby steer clear of any career fraud or fake promises by temporary education agencies that look to make profit in short time.
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