Education Loan in Vadodara

In the city of Vadodara, students are presented with a wide range of education loan providers to fulfill their dreams of higher education in India or abroad. These loans can reach up to 2 Cr, depending on various factors in their loan application. Interest rates vary from 8.5% to 13%, based on the course and destination country.

The financial support comes from public and private banks, as well as Non-Banking Financial Companies (NBFCs), granting students the means to pursue their academic aspirations. For more information on specific education loan products, continue reading about offerings from various lenders.

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

• Indian Citizenship: The applicant must be an Indian citizen or a resident of India, who possess a valid passport and other valid identity documents to be eligible for the education loan in Vadodara whether you plan to pursue higher education abroad or within India.
• Age Criteria: To avail of an education loan in Vadodara, applicants typically need to be between 18 and 35 years of age. 
• Course Eligibility: The chosen courses, including undergraduate, postgraduate, and doctoral programs must be recognized by esteemed international universities or institutions, ensuring that you receive the best financial support.
• Academic Excellence: Your outstanding academic performance can be a significant advantage during the loan approval process. Additionally, scorecards from prestigious competitive exams like GRE, GMAT, IELTS, TOEFL, and others are also considered.
• Proof of Enrollment: The student should have secured admission to a recognized and accredited educational institution, either in India or abroad. Lenders will take this into account before disbursing your loan amount.

• Expenses Covered:  Education loans typically cover various essential expenses, including tuition fees, examination fees, hostel charges, costs for books and study materials, and, in some cases, living expenses like food and accommodation.
• Moratorium Period: One of the significant advantages of education loans is the provision of a moratorium period. This period, typically lasting between 6 to 12 months after the student completes their course of study, allows borrowers to postpone loan repayments. Once the moratorium period ends, borrowers are expected to start repaying the loan, often in affordable installments.
• Loan Margin: Lenders usually require borrowers to contribute a certain percentage of the total loan amount from their funds. This contribution is known as the loan margin. By implementing a loan margin, lenders can mitigate their risk and ensure that borrowers have a stake in the loan.
• Collateral Margin: In some cases, education loans may require collateral as security for the loan. The collateral margin represents the percentage of the loan amount that is secured by the pledged asset. By offering collateral, such as property or other valuable assets, borrowers provide an added layer of assurance to the lender. If the borrower encounters difficulties in repaying the loan, the lender can claim ownership of the collateral to recover their losses.

• Course or Tuition Fees: The loan covers the essential course or tuition fees that need to be paid upfront or in installments, or admission fees that are required to pay upfront for securing the position within the courses and vary from different educational institutes.
• Hostel or Accommodation Fees: The loan includes financial support for hostel or accommodation fees, ensuring students have a suitable place to stay during their studies.
• Cost of Stationery and Books: The loan covers the expenses for essential stationery and books required for the academic curriculum.
• Traveling Cost (Including Air Tickets for Abroad Studies): For students pursuing education abroad, the loan covers traveling expenses, including air tickets.
• Mess and Food Expenses: The loan covers mess and food expenses, ensuring students have access to proper nutrition during their education.
• Cost of Uniform, Projects, and Thesis Work: The loan provides financial support for expenses related to uniforms, academic projects, and thesis work.
• Laptop or Computer Cost: The Education Loan offers assistance in purchasing laptops or computers, facilitating efficient learning and research.
• Other Course-Related Expenses: The Education Loan extends support to cover other necessary expenses directly related to the course of study.

When it comes to securing an education loan, various assets can be utilized as collateral, providing students with flexibility and options. Here are some valuable assets that can be pledged to support your educational aspirations:

• Residential Property: If you own an apartment, house, or plot, you can leverage it as collateral for your education loan. However, it is essential to ensure that the property holds clear titles and is free from any legal disputes, guaranteeing a smooth process.
• Commercial Property: Just like residential properties, commercial properties also make viable collateral options. To utilize a commercial property as collateral, you must establish unequivocal ownership and comply with all legal requirements.
• Fixed Deposits (FDs): For those who have invested in fixed deposits with banks, these can be pledged as collateral for education loans. Typically, the loan amount sanctioned is a certain percentage of the complete value of the fixed deposit, granting financial flexibility.
• Life Insurance Policies: The surrender value of life insurance policies can be a valuable asset to secure an education loan. Lenders usually offer a loan amount based on a percentage of the policy's value, ensuring you receive the necessary financial support.
• Government Bonds: Government bonds, such as National Savings Bonds or other government-backed securities, are also accepted as collateral for education loans. By utilizing these bonds, you can confidently pursue your academic dreams.
• Land or Agricultural Property: If you possess land or agricultural property, they can be utilized as collateral for education loans, provided they meet the lender's requirements and are devoid of any legal encumbrances. These assets present additional options for securing your educational funding.

• Maharaja Sayajirao University of Baroda - [MSU], Vadodara
• Parul Institute of Management and Research, Vadodara
• National Rail and Transportation Institute - [NRTI], Vadodara
• Gujarat Medical Education and Research Society Medical College - [GMERS], Vadodara
• Jindal School of Hotel Management - [JSHM], Vadodara
• ITM SLS Baroda University, Vadodara
• Baroda Institute of Management Studies - [BIMS], Vadodara
• Drs. Kiran and Pallavi Patel Global University, Vadodara

• Expertise and Experience: We specialize in education loans, and our team has extensive experience in guiding students through the loan application process. They understand different study destinations, courses, and financial requirements, ensuring personalized assistance.
• Wide Network of Lenders: We have built a vast network of partnered banks and financial institutions, both public and private i.e. 14+ lenders. This allows students to compare various loan options and choose the one that best fits their needs, ensuring competitive interest rates and favorable terms.
• Seamless Application Process: Applying for an education loan can be complex, but WeMakeScholars simplifies the process. Our user-friendly online platform enables students to complete the application with ease, saving time and effort.
• Transparent and Timely Support: We are committed to transparency throughout the loan process. We provide clear information on interest rates, repayment terms, and any associated fees. Additionally, our dedicated support team is available to address queries promptly, ensuring a hassle-free experience.
• No Service Charges: We are dedicated to offering student-friendly loan services. We do not charge any service fees to students, making the entire loan process more affordable and accessible because we are funded and supported by the Ministry of IT, govt. of India.
• Tax Benefits Guidance: We provide valuable guidance on tax benefits related to education loans like under sec 80 E and 80 C. Understanding tax deductions can further ease the financial burden for students and their families.
• Cashback Incentives: We offer Rs 3000 cashback incentives on education loans. This unique feature provides an additional financial benefit.