Educational Loan

An education loan is a sum of money borrowed to finance post-secondary education or higher education-related expenses. Education loans are intended to cover the cost of tuition, books and supplies, and living expenses while the borrower is in the process of pursuing a degree. Payments are often deferred while students are in college and, depending on the lender, sometimes they are deferred for an additional six-month period after earning a degree. This period is sometimes referred to as a "grace period."

Benefits of educational loan

different kinds of educational loan

Based on Location

Domestic Education Loan

Students who would like to pursue education in India can apply for this loan type. The loan will get approved only if the applicant is admitted to an Indian educational institution and meets all other lender criteria.

Overseas Education Loan

Such loans help students realise their dream of pursuing the course of their desire in a foreign institution. The loan covers the airfare, accommodation, and tuition fee for students who wish to study abroad only if they satisfy the eligibility criteria.

Based on Course

Undergraduate Loans

This type of education loan is provided for students to give financial aid to students so they can complete their undergraduate degrees. An undergraduate degree will usually be a 3 to the 4-year long course under various specialisations. Having an undergraduate degree helps individuals to land a decent job and start earning.

Postgraduate Loans

Many undergraduates would like to continue their education with a postgraduate course, usually a 2-year long course in India. An advanced degree is desired to get more profound knowledge in the area of interest.

Career Development Loans

Many professionals who work for a few years in corporate jobs prefer to pause their career and take up professional courses and training to improve their employment prospects. Such individuals would strive hard to get into reputed business and technical schools to polish their skills and reach greater heights in their career.

Based on Collateral

Loan Against Property, Deposits, and Securities

You can pledge immovable assets, such as agricultural land, residential land, flat, house, and others, fixed deposit certificates, recurring deposits, gold deposits, bonds, debentures, and equity shares to get the necessary financing to pursue education.

Third-Party Guarantee

A guarantee letter from an employee of the bank or a home bank can help the student get an education loan.

Features of educational loan

List of Expenses Covered under Education Loan

Education Loan Eligibility

Documents Required

How to Apply

You can either go to the bank of your choice and enquire about the loan process, or you can apply online. Once the loan application is submitted, the bank will initiate the process by verifying your documents, evaluating the course of study for which you wish to take the loan, and collateral you can provide. The bank will, then, keep you notified.

About Us

Euro Nexus Dinero Marketing PVT. LTD is mainly focus to connect merchants, consumers, card brand networks and financial institutions with advance trands. Credit card companies are the banks and credit unions that issue credit card to consumers and small business owners. Euro Nexus Dinero Marketing Company provides new credit card to the valid and valiable customers. Also, we delivers necessary services to the cardholders regarding purchases, accepting payments, distributing rewards and suggest a fine solution to the problem arraise in credit card.