Student Loan for India

Here’s the eligibility for education loan in India as set by the lending partners on Bajaj Markets:

• You must be between 21 and 32 years old for studying abroad, or between 22 and 60 years old for domestic studies

• A good GMAT/GRE test score is required for international education

• Your overdue amount should not exceed ₹2,000 at the time of application

• Your credit history should be free of ‘written-off’ loans or credits, and you should not have more than 60 days past due (DPDs) in the last 12 months

Here are the key features and benefits of student loans available on Bajaj Markets:

High Loan Amount

Borrow up to the maximum student loan of ₹1.5 Crores to cover all your academic expenses and more.

Attractive Interest Rates

Enjoy competitive interest rates starting from just 11.50% p.a., making your education affordable.

Full Funding Available

Receive up to 100% funding for tuition fees, study materials, and other educational expenses.

Flexible Loan Tenure

Choose from flexible repayment tenures of up to 15 years, tailored to suit your financial situation.

Instant Provisional Sanction

Get provisional approval quickly to help you plan your studies without delay.

Study in India or Abroad

Access financial support for both domestic and international education without hassle.

Unsecured Loan Option

Borrow up to ₹80 Lakhs without collateral; larger amounts may require asset pledging.

No Collateral Needed

You can secure the loan without putting up any assets as collateral.

Covers All Educational Costs

Finance your entire education, including tuition fees and related expenses, in a simple process.

Fast Disbursal

Receive loan funds directly to your bank account within two days of approval.

EMI Flexibility

Take advantage of flexible EMI options, including lower payments during the moratorium period, and a ‘study now, pay later’ option.

Here are some smart tips to help you apply for the best student loan in India:

Choose the Right Institution

Select a well-reputed institution as lenders prefer approved and established universities. Ensure the institution is accredited by bodies like the University Grants Commission (UGC), All India Council for Technical Education (AICTE), or Medical Council of India (MCI) for smoother loan approval.

Decide the Ideal Loan Amount

Ensure the loan amount covers all your academic and living expenses, including tuition, travel, and other fees. Some lenders may also offer loans for accommodation and living costs.

Check Eligibility Criteria

Make sure you meet the academic and course-specific eligibility requirements set by lenders. Maintain a good academic record to improve your chances of loan approval.

Understand the Role of Co-applicant and Guarantor

Choose a co-applicant with a stable income and strong credit history to boost your loan eligibility. Ensure your co-applicant provides necessary documents like income proof and bank statements.

Review Loan Terms Carefully

Understand the education loan interest rates, whether fixed or floating, and choose what suits your financial situation. Use an online EMI calculator to plan your repayments based on the loan terms.

Loan Disbursement Process

Opt for direct disbursal to the institution to streamline fee payments, or have the funds disbursed to your bank account for other expenses. Review the disbursement schedule to ensure it aligns with your needs.

Understand Tax Benefits

Take advantage of tax deductions under Section 80E for the interest paid on your education loan. This can help you save on taxes and ease your financial burden.

Plan for Future Repayments

Consider lenders that offer job placement support or career counselling to assist you after your studies. Estimate your potential income to ensure you can comfortably manage future loan repayments.

Leverage Repayment Moratorium Period

Check if the loan offers a sufficient moratorium period, allowing you time to complete your studies and secure employment. This will help you start repaying once you’re financially ready.

Utilise Available Support Services

Opt for lenders with excellent customer service and advisory support throughout your loan tenure. Having access to professional advice can help you manage your finances and debt effectively.

Here’s how you can apply for an education loan on Bajaj Markets in just a few easy steps:

1. Click on the ‘Check Offer’ button to begin your application

2. Provide your personal details and information about the course you are pursuing

3. Select the loan amount you need and your preferred repayment tenure

4. Submit the completed application form

A representative will contact you to assist with the next steps in the process.

Here are some key reasons why Bajaj Markets is a great choice for securing an education loan for studies in India:

Fast Loan Processing

Your loan application is reviewed and approved within minutes through a seamless online process.

Quick Loan Disbursement

Once approved, the loan amount is credited to your account within just two days.

Simple Application Process

Bajaj Markets offers a digital application process with minimal documentation, making it easier for you to apply.

Complete Transparency

Enjoy peace of mind with no hidden charges and full transparency throughout the loan process.