How to Apply Online For A Student Loan in India

With the growing number of education loan providers, the use of a loan to pay for higher studies has become quite common. After all, higher education does provide your child with the scope to do financially better in life with better career prospects, training, and networking opportunities. With education loan, borrowing becoming a common solution, lenders now offers the choice of applying online. Thus, you need not worry about standing in long queues and filling out endless paperwork. Applying online is a simple process, however, it is important you go about it the right way.

Looking to fund your child’s dream education? While education loans are a common choice, have you considered a Loan Against Property? It offers significantly higher funding, perfect for covering tuition, accommodation, and other expenses, especially if your child is pursuing studies abroad. With flexible repayment tenures of up to 15 years* and competitive interest rates, a Bajaj Finserv Loan Against Property can be your one-stop solution for stress-free education financing. Plus, your property remains yours while you unlock its value for brighter opportunities. Get a loan of up to Rs. 10.50 crore with the option of interest-only EMIs during the initial tenure.

Here is a step-by-step guide to help you if you’re wondering how to apply for student loans.

Consider Your Options

In order to make the ideal funding decisions, consider all options and select the best. Choose between an education loan and a Loan Against Property for Education based on the amount of funding you need and the documents you are able to submit. Remember an education loan may cover a maximum of 95% of the amount needed for college tuition and has a maximum tenure of 15 years while a loan against property offers funding in crores based on the value of your property and a tenure of up to 15 years* to repay it.

Once you have decided on your ideal funding solution, determine whether you should be borrowing from a bank or an NBFC. Figure out the more affordable option from the two and watch out for hidden charges.

Education loans are a great starting point for funding higher studies, but they often cover only a portion of the expenses. If you need a larger amount, why not explore a loan against property by Bajaj Finance? It allows you to leverage your property’s value and secure substantial funds at affordable rates. Whether it’s tuition fees or setting up a new life abroad for your child, a loan against property ensures your dreams are within reach without financial strain. Get loan of up to Rs. 10.50 crore against your property within 72 hours* of the approval.

Additional Read: Various Education Loan on Property Schemes

Check The Eligibility Criteria

The eligibility criteria differs among education loan providers and may be even more different based on the funding solution you select. Keep in mind a loan against property can give you a higher sanction and an education loan requires proof of admission and various other education certificates. Thus, check the eligibility criteria and have documents ready beforehand to avoid rejection based on eligibility. You will also need to see the procedures for submitting documents and how to apply for a student loan online to ensure you submit them on time.

If your child’s education requires a larger financial boost than an education loan can provide, a loan against property might be the smarter choice. You can get funds in crores, depending on your property’s value, with minimal restrictions on usage. Use it to fund tuition, living expenses, or even travel costs. With easy eligibility and longer repayment tenures, a Bajaj Finserv Loan Against Property ensures you are fully prepared for every educational milestone while maintaining financial stability. Get a loan of up to Rs. 10.50 crore with the option of interest-only EMIs during the initial tenure.

Calculate Repayment Beforehand

Despite your confidence in your repayment potential, calculate your EMIs beforehand and ensure your finances can support them without compromising on other expenses. Select a tenure that isn’t too long, but also results in EMIs that are convenient for your pocket. Further, consider options like a Flexi Loan offered by reputed lenders like Bajaj Finserv. With this, you can borrow as you need from your sanction and pay interest only on the amount utilised. Further, you can choose interest-only EMIs to manage your cashflow better for the first few years.

Carry Out The Necessary Online Application Procedures

Now you are ready to apply online. Log on to your preferred lenders website, select on the education funding offering and click ‘Apply now’. You will be led to a student loan application form that you will need to fill out. Post this, lenders like Bajaj Finserv have a representative reach out to you and the necessary documentation is picked up from your doorstep. Bajaj Finserv also offers you an easier way to apply.

A loan against property is the perfect alternative to traditional education loans when you need comprehensive funding. From tuition to living expenses, it gives you the flexibility to cover all costs. With benefits like competitive interest rates, higher loan amounts, and repayment tenures of up to 15 years*, a loan against property ensures you have a financial safety net for your child’s future. By using your property as collateral, you can unlock access to large funds of up to Rs. 10.50 crore—it is a smart way to manage your finances with ease! Get funds within 72 hours* of approval.