6 features of the best education loan in India

1. 6 features of the best education loan in India 6 features of the best education loan in India Education loans have made higher education, be it in India or abroad, more accessible than before. There are so many types of customised education loans that lenders offer. Every type of education loan has some unique features. We have curated 6 of the best features that a student should look for in any education loan in India education loan in India while planning to finance their higher studies. 1. 1.Covers all expenses Covers all expenses The best education loan in India would cover all the expenses of a student’s higher education. A student may need money to pay to travel to the city their university is based in, to stay in that city for the duration of their course, to pay the mess expenses, the exam fee, the library fee, the laboratory fee, the stationery expenses, the laptop expenses, books, and so on. They also need money to pay their course tuition fee. The best education loan would cover these expenses holistically. 2. 2.Does not ask the student to pay the margin money Does not ask the student to pay the margin money The best education loan best education loan in India would not ask the student to pay margin money. Margin money is the money the student has to put from their side to fund their higher-education expenses partially. The best education loan would cover 100 percent of the expenses the student incurs in their higher education.

2. 3. 3.Does not require any kind of collateral Does not require any kind of collateral Many students do not have financial assets to pledge them as security against their education loans. They need education loans without having to provide collateral. The best education loan in India loan in India would help such a student to complete their higher education without having to secure their financial assets to get an education loan. education 4. 4.Offers Offers a long Financial lenders do not expect the student to repay the education loan as soon as they finish their education. They give them a grace period called as a moratorium period. The best education loan in India would offer a generous enough moratorium period that allows the student to get their first job, and save money from their earnings to begin repaying their education loan. a long moratorium period moratorium period

3. 5. 5.Provides suitable repayment tenure Provides suitable repayment tenure Financial lenders do not expect the students to repay their education loans in lump sum. They let the students repay the loan in small amounts every month for the whole repayment tenure. The repayment tenure is set to end after a maximum of 15 years from the first EMI payment. Students should repay their education loans within 8 years as they get to avail tax benefits on the interest that they pay on their education loans during this period. 6. 6.Sets appropriate EMI value Sets appropriate EMI value The small amount of money that students pay every month while repaying their study loans is called EMI. The lender, after careful consultation with the student, sets the EMI value such that the student pays the maximum amount they can pay every month while also finish repaying the loan in as little time as possible. So, these are 6 features that the best education loan in India education loan in India would have. All the best!