Education loan schemes and subsidies

With the combined efforts of the Indian Government and the Ministry of Education, students can now avail finance for their higher education. Parents can also apply under various education loan schemes to secure funding for their child’s education.

Financing higher education gets more accessible with the facility of education loan subsidy that reduces the burden of credit. The government also facilitates various education loan repayment support schemes through different financial institutions.

Types of education loan schemes in India

Following are the types of education loan schemes and subsidies that Indian citizens can make use of.

  • Vidya Lakshmi Scheme
    Apply for a loan to multiple financial institutions with one application through the Vidya Lakshmi Education Loan Scheme.
     
  • Padho Pardesh Scheme
    Access funds to finance your overseas education with the Padho Pardesh Scheme, specially designed for students from minority communities.
     
  • Dr. Ambedkar Central Sector Scheme of Interest Subsidy
    Avail interest subsidy under this scheme that helps students coming from OBC and EBC communities pursue education abroad.
     
  • Central Scheme of Interest Subsidy for Education Loan
    Obtain interest subsidy for pursuing technical and professional courses as a student from the EWS category.

Alternatively, availing of the Bajaj Finserv Loan Against Property for Education is an equally viable idea. This financing option comes at competitive interest rates, with comfortable tenors.

Features and benefits of loan against property for education

Availing of this loan is affordable and convenient for the following reasons:

  • Requires minimal documentation
    Requires minimal documentation

    You need minimal paperwork to avail a loan against property for education from Bajaj Finserv. Document collection is made easier with our doorstep service, as well.

  • Gets you a high sanction
    Gets you a high sanction

    Fund your child’s education at their preferred college or university with a high loan amount against your property’s value.

  • Comes with a long repayment tenor
    Comes with a long repayment tenor

    Get a repayment tenor of up to 18 years when you apply for this loan. Opt to prepay in full, or part-prepay this loan as per your convenience, at minimal charges. Use the Loan Against Property EMI Calculator to know your monthly outgo beforehand.

  • Gives the benefit of a high-value top-up loan with balance transfer facility
    Gives the benefit of a high-value top-up loan with balance transfer facility

    Transfer the outstanding balance of your current mortgage loan and enjoy a comparatively lower rate of interest with Bajaj Finserv. Also, avail a top-up loan of a high value and finance extra expenses effortlessly.

Even if you choose a student loan scheme offered by the government, you may opt for our education loan on property to enjoy these benefits.

Eligibility criteria for salaried persons

Salaried individuals can now get hassle-free approval on their loan against property for education application by meeting our easy mortgage loan eligibility requirements.

  • Nationality
    Nationality

    Resident of India, owning a property in an approved location

  • Age
    Age

    23 to 62 years

  • Employment
    Employment

    Working at any private, public, or multinational organisation

Eligibility criteria for self-employed individuals

Self-employed individuals will be able to enjoy an loan against property for education application process by meeting our easy mortgage loan eligibility requirements.

  • Nationality
    Nationality

    Resident of India, owning a property in an approved location

  • Age
    Age

    28 to 70 years

  • Employment
    Employment

    Possessing a steady income from business

Application process for education loan against property

Applying for the Bajaj Finserv Loan Against Property for Education is an easy process that is illustrated below for your benefit.

  1. 1 Access our online application form
  2. 2 Fill in your personal and property-related information
  3. 3 Provide your income data accurately for the best offer

Our representative will take you through the next steps in the process within 24 hours* of you making your application online.

*Terms and conditions apply

Frequently asked questions about education loan against property

How can I avail of a loan for overseas education?

Overseas aspirants such as yourself, can consider applying for a government loan scheme, an education loan, or even a loan against property for education or an education loan for abroad.

What is the age limit to apply for the loan?

The age limit to meet our education loan on property eligibility is 23 to 62 years* for salaried and 28 to 70 years* for self-employed individuals.

Do I have to insure the loan against property?

While it is not mandatory, it is recommended that you do to safeguard your best interests, should you be met with an unforeseen circumstance that hinders your repayment capabilities.

What are the benefits of availing an education loan against property?

Bajaj Finserv offers plenty of attractive benefits along with their education loan against property financing option. Applicants can enjoy a flexible payment plans and comfortable tenor – all at a competitive interest rate. The funds will also be disbursed into your account in 72* hours, allowing you to go ahead with your education plans without any delays.

What can I use the education loan against property for?

You can use your education loan on property to fund everything from tuition fees to living costs for courses both in India and abroad.

Can I mortgage a co-owned property?

Yes, you can. In the case of mortgaging a co-owned property, all the co-owners will be marked as co-applicants for the loan you are availing of.

*Terms and conditions apply

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