Overview of education loan on the property
Bajaj Finserv offers loans against property for education to fund the educational expenses of your child. Finance your child’s expenses for higher studies like moving to a new city or country, tuition fees, activity charges, living expenses, and more. Empower your children to study abroad.
Education loan against property
If you are looking for a flexible loan facility with simple eligibility terms to finance your child’s education, the Bajaj Finserv Education Loan on Property is the perfect solution. Access up to Rs. 10.50 crore* to cover all education-related expenses such as tuition fees, hostel charges, living expenses, and transportation costs. The funds are disbursed to your account within 72 hours* of approval and you can manage your loan online at any time and from anywhere with our customer portal - My Account.
Make unlimited withdrawals and part-prepayments with our Flexi loan facility. You will be charged interest only on the amount you borrow. You can also opt to pay interest-only EMIs for the initial tenor and the principal amount later.
Features and benefits
To find more about the features and benefits of availing of an education loan against property, read on.
-
Competitive rate of interest
Bajaj Finserv offers applicants an affordable loan against property option to fit their finances.
-
Quick disbursal
Access funds within 72 hours* of approval once you meet our simple eligibility criteria.
-
High-value loan
Get a loan against property for higher education of up to Rs. 10.50 crore* to finance all your expenses comfortably.
-
External benchmark linked loans
By opting for the Bajaj Finserv linked to an external benchmark, applicants can enjoy reduced EMIs along with favorable market conditions.
-
Digital monitoring and minimal documents
Now keep a close eye on all your loan developments and EMI schedules through the Bajaj Finserv online platform.
-
Repay in up to 15 years*
Our loan against property for education makes repayment stress-free giving you your choice of the tenor.
-
Zero contact loans
Experience a truly remote loan against property application from anywhere in India by applying for Bajaj Finserv online loan against property and getting easy approval.
-
Flexible repayment
Pay at your convenience over a property loan repayment tenor of up to 15 years.
Eligibility criteria and documents required for education loan on the property
Meet our simple study loan eligibility criteria and provide the necessary documents for loan approval.
-
Nationality
Resident of India, owning property at the following locations:
Delhi and NCR, Mumbai and MMR, Chennai, Hyderabad, Bangalore, Pune, Ahmedabad (for salaried individuals) or Bangalore, Indore, Nagpur, Vijayawada, Pune, Chennai, Madurai, Surat, Delhi and NCR, Lucknow, Hyderabad, Cochin, Mumbai, Jaipur, Ahmedabad (for self-employed individuals) -
Age
You must be between 25 years (18 years for non-financial property owners) to 85 years* (including non-financial property owners)
* 85 years* of age or less at the time of loan maturity -
Employment
Salaried employee of any private, public or multinational organization or self-employed individual with a consistent business income
Fees and charges of education loan on the property
Avail competitive property loan interest rates with no hidden charges when you apply for the Bajaj Finserv Education Loan on Property. Calculate your EMI with our loan against property EMI calculator.
Education Loan on Property Schemes
How to apply for a student loan on the property
Follow these simple steps to apply for a loan against property:
- 1 Access our online application form
- 2 Fill in your personal and property-related data
- 3 Enter your income details to receive attractive offers
Our representative will guide you through the next steps of getting the loan.
*Conditions apply
Education loan on property frequently asked questions
Our education loan on property offers a high-value amount, flexible tenor, simple eligibility terms, and disbursal within 72 hours*.
You only need to meet our education loan eligibility criteria which pertain to your property and financial profile.
Plan your education loan repayment process by using our EMI calculator to compute your monthly payments and choose the right tenor.
Yes, co-owned properties are eligible as long as all owners co-apply for the loan against property.
To qualify for a loan against property, your property’s title should be free of litigation. There should be no existing mortgage on it.
Yes, the property must be insured for the entire tenor of the loan. You must submit the documents for proof whenever required.
You only have to provide some basic documents and fulfill simple eligibility criteria to successfully apply for an education loan.
The documents required for an education loan on the property are – Copy of ownership papers of the property to be mortgaged
- Bank account statements for the last 3 months or 6 months as a salaried or self-employed applicant, respectively
- Proof of address like latest utility (electricity, telephone, post-paid mobile) bill, municipality tax receipt, life insurance policy, etc.
- PAN card or Aadhaar card
- Income tax returns
An education loan on property does not implement any restrictions on how borrowers decide to use the sanctioned loan amount. This allows borrowers to meet both direct and ancillary expenses related to pursuing higher education, whether in the country or abroad.
Furthermore, the high education loan amount helps them finance higher education costs in renowned colleges or universities across the world. For instance, they can account for expenses directly related to the pursuance of higher education, like admission costs, tuition fees, exam fees, lab charges, etc. The sanctioned amount can also easily account for bills related to food, accommodation, and other living expenses if need be.
*Conditions apply
