How to finance studies using an education loan?
Quality education is indispensable to the growth and development of both individuals and our nation. Yet, higher education abroad is expensive, with costs ranging from Rs. 20 lakhs to Rs. 80 lakh and beyond. Hence, most people have a common dilemma: whether to choose self-financing or avail student education loan to study abroad. While self-financing depletes your savings and may prove to be insufficient an education loan in the form of a loan against property protects your savings and assets and offers ample finance.
You can utilise the funds to cover multiple expenses including flight tickets, accommodation costs, tuition fees, examination fees, and miscellaneous charges. The entire loan amount gets disbursed in your account, making it easier to fund the expenditures on your own terms.
Benefits of an education loan on property
Applicants interested in availing a loan against property can read more to know about the features of the Bajaj Finserv Loan Against Property.
Keep your savings intact
Self-financing utilises your savings in one go, whereas taking an education loan helps keep them secure for use in emergencies
Get ample funds
Bajaj Finserv’s Education Loan for Foreign Studies offers Rs. 5 Crore, or higher, basis eligibility. Covering tuition costs with self-financing is tough.
Loans and minority education loan schemes help increase your credit score. Self-finance doesn’t provide this benefit.
With self-financing, liquidating an asset is common. Taking a loan on property helps obtain finance while preserving your assets.
Get a loan against property against minimal documentation and receive money in the bank within 72 hours* of approval.
Keep the impact of the loan on your finances minimal with a flexible tenor of up to 240 months.
Avail tax benefits
Education loans offer tax benefits on the interests paid.
Finance using an education loan on property
Apply for an education loan for foreign studies in a few easy steps.
- 1 Open our application form to apply online
- 2 Provide your personal and property details
- 3 Enter your income details for the best offer
Upon submitting the form, our relationship manager will call and guide you on the next steps.