It can’t be said with certainty, which among the many options available today, is the best education loan in India. This is because everyone has their own perspective, needs and opinions – therefore, a loan that ‘A’ regards as the best will not be looked at in the same light by ‘B’. However, all of the best loans will have some common features that make it a brilliant option. This article will highlight some of these features to ensure you get the best loan for your needs.
1. High amounts of financing without any collateral:
This is the first thing the best education loan in India will provide you. It will ensure you get the financing you need without providing any collateral. To make it easier, some of these loans will provide you 100%. This ensures you do not have to worry about saving up for a down payment. Just take the loans and cover the cost if that dream education.
2. Peripheral financing.
There are a number of costs besides the course fee that need to be taken care of. These include the cost of laptops & books, the fees for your entrance exams, the many deposits that maybe payable, the cost of living in case of a course away from home, travelling expenses especially when studying abroad. All of these expenses can really add-up and paying them off can be extremely difficult. Keeping this in mind, some of the best loans will cover all of these costs in addition to just the course fees. This can be extremely helps for students who are not in a very strong financial position. Some loans will also provide the proof of funds for admission and visa, whenever needed.
3. Low charges.
There are a number of charges involved with even the best education loan in India. However, the better loans will come with lowest possible processing fee or even waive it off completely. Besides the processing fee, the best loans will also have fewer, less demanding charges.
4. Better reviews.
Reviews matter. What other students have to say about their experience gives you a good heads-up as to what you will experience. Therefore, if they have a good experience, chances are you will too. On the other hand, if they have negative feedback, maybe even you will. Therefore, go through testimonials online, check aggregator sites and ask people personally if possible. It will help pain a better picture of a certain loan and lender. It goes without saying that the best education loan in India will have amazing reviews and more recommendations.
- Lower interest rates.
Lastly, the best education loan will make all of the above available to you at the least cost. Usually, interest rates on student loans will range between 10 and 16 percent. Some loans come with preferential rates for bright students and women borrowers.
These were some of the features on the best education loan in India would provide you. We hope this has been helpful, good luck and all the best!