Education Loan in Lucknow

We will walk you through everything you need to know about education loans in Lucknow – from the various loan providers available to the essential eligibility criteria and documentation required. Whether you're planning to study in India or abroad, our aim is to empower you with the knowledge and guidance to make informed decisions.

The loan application takes into account several factors, and based on them, individuals can access loans of significant amounts, up to 2 Cr.
Depending on factors such as the chosen course, the destination country for education, and the analysis of a co-applicant (if applicable), the interest rates for education loans in Lucknow range from 8.5% to 13%, offering a variety of options.

For Studies in India

For Foreign Studies

For Studies in India

NOTE- To check the latest interest rate of all the banks click here

For Foreign studies

NOTE- To check the latest interest rate of all the banks click here

For Studies In India

NOTE- To check the latest interest rate of all the banks click here

For Foreign Studies

NOTE- To check the latest interest rate of all the banks click here

• Principal Amount: The principal amount is disbursed by the lender to the borrower, constituting the specific sum designated for educational purposes. Upon the completion of studies, the borrower is responsible for repaying this amount along with the accrued interest.
• Interest Rate: The interest rate denotes the percentage imposed by the lender on the principal amount, dictating the cost of borrowing. This rate directly influences the monthly installments (EMIs) that the borrower must remit. The interest rate for education loans can fluctuate based on variables such as the borrower's creditworthiness, the chosen course or institution, and prevailing market conditions.
• Moratorium Period: An education loan typically entails a moratorium period, during which the borrower is not obliged to make any loan repayments. This duration usually comprises  the course's duration and can extend from 6 months to 1 year following its completion, subject to the lender's policies.
• Loan Margin: The loan margin signifies the percentage of the total educational expenses that the borrower must personally finance. It denotes the portion of expenses not covered by the loan and necessitates the borrower or their family assuming financial responsibility for it. The loan margin represents the borrower's dedication to education and encourages a financial investment in their academic pursuits.
• Collateral Margin: In the case of a secured education loan that necessitates collateral, the collateral margin represents the variance between the market value of the collateral provided by the borrower and the sanctioned loan amount. This margin acts as a safeguard for the lender, ensuring that even in scenarios where the collateral's value depreciates, it remains adequate to cover the loan amount.

• Admission Fees: When enrolling in a course, it is necessary to pay an upfront admission fee to secure your place. This fee is intended to cover administrative expenses and varies from one educational institution to another.
• Tuition Fees: Tuition fees refer to the actual cost of the course itself. Students have the option to either pay the fees in installments or in full at the beginning of each academic year.
• Hostel and Mess Charges: If you choose to live on campus, you may be required to pay for accommodation and meals. The costs associated with hostels and mess facilities are dependent on the specific institution and the type of housing chosen.
• Library, Laboratory, and Examination Fees: These additional charges encompass access to library resources, usage of laboratory equipment, and registration for examinations.
• Visa Fees: Students planning to study abroad will need to obtain a visa, which incurs a certain cost during the visa application process.
• Insurance Premium: While not mandatory, students have the option to pay for insurance coverage. This provides protection in the event of unexpected circumstances such as death or permanent disability.
• Miscellaneous Costs: This category includes any other expenses that may arise during the study period, such as travel expenses, study materials, and project or assignment-related costs.

Wide Range of Options:

• We have partnered with over 14 public and private banks, as well as NBFCs in India, to offer a diverse array of education loan choices for students.

Speedy Processing and Expert Guidance:

• Our streamlined process ensures lightning-fast approval.
• Private bank or NBFC loans are processed in just 6-7 days.
• Collateral-based loans from public banks take approximately 15-20 days.
• Our experienced financial officers provide expert guidance throughout the loan application process

Student-Friendly Interest Rates and Negotiation Support:

• Student-friendly interest rate reductions ranging from 0.5% to 2%.
• Our financial officers assist you in negotiating loan terms and interest rates with the banks.

Hassle-Free Online Applications:

• Apply for student loans conveniently from the comfort of your home.
• Eliminates the need for long queues and multiple visits to banks.

Comprehensive Support and Fund Disbursement:

• Our financial officers provide end-to-end support.
• They address any post-sanction concerns.
• Ensure a seamless fund disbursement process.

Tax Benefits and Cashback Bonus:

• We provide information on tax-saving programs like Section 80E and 80C.
• Information on tax collected at source (TCS).
• Help you save money and enjoy tax benefits on your student loans.
• Eligible students may receive a cashback of up to Rs 3,000 upon loan disbursement.

No Charges:

• All our loan approval services come to you absolutely free of charge.
• Funded by the IT Ministry as part of the Digital India Campaign