Empower your ambitions, Invest in your future
- Loans upto Rs. 3 Crore for International Studies
- Loans upto Rs. 1 Crore for Domestic Studies
- Collateral free loan upto Rs. 1 Crore for premium institutes
- Special product offering for Government employees, CXOs and Professional with 2 years of work experience
Empower your ambitions, Invest in your future
- Loans upto Rs. 3 Crore for International Studies
- Loans upto Rs. 1 Crore for Domestic Studies
- Collateral free loan upto Rs. 1 Crore for premium institutes
- Special product offering for Government employees, CXOs and Professional with 2 years of work experience
Get Educational Loan with Shivafinz
An Education Loan has the incredible ability to shape and redefine lives because it enables access to higher education. The relevant educational degree and qualifications provide you with a myriad of perspectives for personal and professional growth. However, accessing world-class education often entails navigating high competition and meager admission rates at select universities globally.
The associated costs can be overwhelming even if you secure a coveted spot at one of these institutions. At Shivafinz, we believe in your potential and right to quality education. That’s why we offer to cover 100% of your educational expenses, encompassing course fees, living expenses, and travel costs.
Unlocking this opportunity is simple – just get your loan approved. Once approved, the funds will be disbursed within two working days, ensuring a swift transition into your educational journey.
Eligibility for Educational Loan
| Particulars | Eligibility |
|---|---|
| Nationality | Indian |
| Age | Minimum – 16 years and Maximum – 35 years |
| Academic record | Proven – good |
| Qualification | Completed 10+2 (12th Standard)/Diploma |
| For Pursuing | Graduation /Postgraduate Degree or a PG diploma in professional Education. |
| University Applied to | Listed,Recognized and Accredited Institutes in India and Overseas |
| Loan can be sanctioned on the basis of |
|
| Loan Amount |
|
| Co-borrower | Father, Mother, Brother, Sister, Spouse (Husband/Wife), Grand Parents, Parents in law, Maternal/Paternal Uncle. |
| Security | Property i.e. House or Flat, FD –Fixed Deposit, Existing ICICI Bank Home Loan for cross collateral. |
Features & Benefits
Avail high-value loan:
- Minimum ₹50000
- The loan will cover tuition fees, hostel charges (if any), cost of books, etc.
Enjoy attractive interest rates:
- Get repo rates linked interest rates
Pre-admission sanction:
- Get a sanction letter before admission based on your profile.
An Education Loan is a sum borrowed by students to cover the financial requirements for completing their selected academic course. Education Loans are primarily provided by banks and NBFCs and can be used to cover college-related fees as well as other education related expenses such as living expenses, insurance costs, the purchase of computers and uniforms, and so on.
There are numerous benefits of availing an Education Loan, some of which are stated here :
Low interest rates – When compared to interest rates on other loans, Education Loan interest rates are often on the lower side.
Flexible repayment – Unlike Education Loans, most loans require monthly repayment of EMIs as well as interest. The Education Loan’s moratorium / partial interest payment period is relatively long, lasting till the course is completed plus an additional grace period.
Tax advantages – Education Loans also provide appealing income-tax advantages. Under Section 80E of the Income Tax Act of 1961, the interest paid on an Education Loan is entirely deductible.
Improve credit history – Regular loan repayment can help students enhance their credit history. Building a great credit history through an Education Loan can be beneficial when attempting to achieve other life goals such as purchasing a home or a car through loans.
For Education Loan Eligibility, Indian citizens must be 16 to 35 years of age with a good academic record and should have completed 10+2 or diploma. If the applicant is enrolled in a recognised institute in India or overseas, loans are sanctioned based on pre-admission, entrance exam scores, 12th/HSC results or confirmed admissions.
Graduate/Postgraduate/Diploma courses in professional education from recognised and accredited institutes in India and overseas.
Yes, you can avail partial fee as Loan at any point of time during your studies.
An Education Loan is paid out by paying a fixed Equated Monthly Instalment (EMI). The EMI consists of the principal amount and interest.
The following are the stages involved in getting an Education Loan:
• Determine the college expenses and total financial support you need.
• Research your options and consider which Education Loan is best suited to your needs.
• Some critical parameters to consider when selecting an Education Loan are: Education Loan interest rates, repayment terms, loan tenure, and eligible amount (secured & unsecured loans).
• Before applying for a loan, it is advisable to use an Education Loan EMI calculator to estimate the loan amount you can afford.
• Collect all essential documentation for an Education Loan and apply in accordance with the lending institution’s guidelines.
• The lender will take some time to check the information given in accordance with the predetermined process.
• Lenders often assess the applicant’s and co-applicant’s ability to repay the loan, as well as their financial background, as well as the student’s previous academic records and the reputation of the educational institution to which the student has applied.