Finance a great education abroad with a personal loan
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Finance a great education abroad with a personal loan

  • Highlights

  • You can cover more than tuition fees with a personal loan

  • Manage flight tickets, living expenses and contingencies

  • Avail a loan up to Rs.25 lakh at attractive interest rates

  • Repay the loan over a tenor that works for you

If you or someone you know is considering higher studies at a university abroad, a personal loan can be more useful than an education loan. To begin with, a personal loan covers more than just the tuition fees. You can use it to manage flight tickets, living expenses, accommodation, contingencies, and other expenses.

Moreover, you don’t need to take up any lengthy documentation process. You can apply online and avail it within 24 hours.

Personal loans explained

Financial institutions and non-banks provide personal loans to help you meet your financial needs. This means you can borrow to pay for an unforeseen expense, like a medical emergency, or a planned one – say a vacation or home improvement or higher education abroad.

You don’t need to provide any collateral to avail an unsecured personal loan and you can repay it with EMI spread over a flexible tenor.

Why take a personal loan for higher studies?

While banks and financial lending institutions offer higher education loans, here are some compelling reasons why you should consider a personal loan to finance higher education.

Sometimes, education loans become available only if you gain admission to a set list of institutes. Is your university on the bank’s preset list of institutes? If not, you may not get an abroad education loan. This is often the case if it is a new foreign institute and banks and financial institutes in India may not recognize its validity yet.

Besides, the loan amount provided might not cover all expenses. Here is where a personal loan can help you. This loan for higher studies can cover the entire study course. Or, you might take it to meet additional costs not covered by an overseas study loan.

Additional Read: How to Choose the Right Personal Loan Lender

What is the process of applying for a personal loan?

Applying for a personal loan is easier than applying for an education loan. The financial institution will not ask for proof of admission, mark sheets, and so on. The documentation is minimal and the disbursal of the loan amount is quick. The entire process is hassle-free. Bajaj Finserv also offers customers pre-approved personal loans which simplifies the process even more. All you need to do is enter your basic details and check out your personal pre-approved offer.

What are personal loan interest rates and tenors?

The tenor of a personal loan ranges from 12 to 60 months. You can repay the amount via equated monthly instalments (EMIs). If you opt for a Bajaj Finserv Flexi Personal Loan, you can borrow when you need and pre-pay when you can from a sanctioned loan amount. You also have the option to pay only the interest amount as EMI and repay the principal amount at the end of the loan tenor.

Keep in mind that studying abroad is expensive. So, your personal loan can make up for any deficiencies in finance. Choose a Bajaj Finserv Personal Loan for Higher Education and avail several advantages like loan amount up to Rs 25 lakh, minimum documentation and loan disbursal within 24 hours.

Personal Loan Instant Approval

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