Education Loan

An education loan is a loan that students apply for, in order to fund their education in India or abroad. Different banks and financial institutions offer Education Loans to aspirants at competitive rates, to help them make quality education affordable. Thus helping them to build the shape of their career.

1. Moratorium Period : Repayment typically starts after the completion of the course, providing students time to secure employment.

2. Co-borrower Option : Parents or guardians can be co-borrowers to enhance eligibility.

3. Tax Benefits : Repayment interest might be eligible for tax deductions under Section 80E of the Income Tax Act.

4. Multiple Courses and Institutions : Loans are available for various courses, from school education to higher studies, and for institutions in India and abroad.

5. Collateral and Non-Collateral Loans : Depending on the loan amount, some may require collateral, while smaller loans might not need any security.