2 min read
25 May 2021

Financing higher education, especially an overseas degree requires careful planning and consideration. A part of this planning involves understanding how you will fund the various expenses. Whether it is covering basics such as housing and tuition, or gathering funds for other living and additional expenses such as purchasing a laptop or specific software, you must ensure that lack of finance don’t come in the way of you or your child’s education. Turn to a loan against property for education to finance this need. Use a property that you own as collateral and get a substantial loan against it.

Take a look at the features and benefits that make a loan against property for education a winner:

Ample loan amount:

It gives you access up to 75% of your property value that translates into a substantial sum, so you can cover all the expenses related to education. Taking one loan will help you meet all education costs so you don’t have to rely on multiple loans or sources of finances.

Low rate of interest:

Compared to other loans of a similar amount, the loan against property for education gives you the sum at a lower rate of interest. Bajaj Finserv is an excellent loan provider if you’re considering taking a Loan Against Property for Education. It is affordable and offers excellent flexibility that makes repayment easier.

Flexible tenor:

To match the high loan amount, this loan comes with a long tenor for repayment. You can pick a tenor as short as 2 years or as long as 20, depending on your financial status and goals. If your focus is to clear the loan quickly, pick a short tenor. On the other hand, if affordability takes precedence, benefit from a longer repayment period.

Convenient Flexi loan facility:

This loan comes with a Flexi Term Loan option. Using it means that you can withdraw funds as and when the need arises over the course of the tenor. You can borrow, repay, and re-withdraw funds as many times as you wish to. With a long tenor of up to 20 years, this loan gives you the chance to make the most of the loan. The Flexi Interest-only Loan facility only charges interest on funds as and when you use them. You can pay interest-only EMIs, and have the option to repay the principal at the end of the tenor.

High top-up amount:

You can also avail a high top-up amount on your existing loan. This helps you benefit from the existing loan’s long tenor and get access to funds quickly and affordably. Say you have only applied for a loan that totals 50% of your property value, you easily take a top-up for the remaining 25% as and when you feel the need.

Preapproved offers:

If you’re an existing customer with your lender, you can benefit from pre-approved offers. Instead of going through the entire application process again, enjoy the loan on a pre-approved basis, with minimal documentation and quicker processing. You may also be offered a top-up loan on a pre-approved basis.

Quick processing:

Simple eligibility criteria and minimal documentation requirements ensure that your loan is processed and disbursed quickly. In fact, the sum is disbursed to your account within 72 hours, once the lender verifies your documents.

Eligibility criteria and documents required :

To be eligible for this loan, you must be an Indian resident and a salaried employee. Then, submit the following documents:

  • Salary slips of the past 3 months
  • Bank statements of the past 3 months
  • PAN card/ Aadhar card
  • Copy of papers of the property that is to be mortgaged
  • Address proof
  • Filled application form

You can apply for a Loan Against Property for Education through a simple online process.

Whether you want to apply for a loan against property for education or want to transfer an existing loan, Think it. Done with Bajaj Finserv.

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