Fulfill your Dream of Studying Abroad with a Higher Education Loan

To be at par with changing industry standards, many people decide to pursue higher education after a few years working. However, choosing a course abroad may be difficult considering the cost involved. Even though you may have set aside some money for future education, it may not be enough for an overseas education.

But should you compromise on your career due to lack of money? Fortunately, with a higher education loan, you do not need to cut corners on quality education.

Higher education loan is a kind of loan that banks offer to finance your dream of pursuing higher education. However, you may be asked for a collateral, which you may or may not have now. In the absence of collateral, your education loan may be rejected.

To resolve your dilemma, opt for a personal loan for higher education.

Why personal loans?

1. Easy disbursement

With insufficient funds, you may lose the chance to study in your chosen college for that year. A personal loan can help you in that regard. By fulfilling the eligibility criteria, you can get a personal loan online quickly.

No collateral

You may not need collateral while applying for a personal loan. A personal loan is an unsecured loan and it hastens loan approvals without collateral.

Fewer documents

Getting a personal loan calls for fewer documents. Through the online process, you can get a personal loan with minimal documents once you pass the eligibility criteria.

Guide to Apply for a personal loan

Fill the application form

You can either visit the bank branch or look for an online application form for a personal loan. Fill in all your details including your basic information, financial and employment details. You may also need to enter your monthly salary, the city you reside in, age, etc. Make sure you fill in accurate details to prevent application rejection.

Choose your tenor and amount

Choose the tenor for which you are seeking the loan. If you need additional help, make use of an online personal loan calculator to decide about the loan tenor and the interest rate. It will also tell you about the total amount payable after the tenor completion and monthly interest. Alternatively, you can calculate your EMIs by using an EMI calculator.

Submit the documents

Once you are sure of the loan amount and its tenor, you can proceed towards the documentation. Since it’s a collateral-free loan, you may need a few important documents such as KYC documents, salary slips, PAN, address proof, etc., depending on the requirements of the lender.

Once you have submitted the documents, your loan approval process begins to get processed.

So whether you dream of running a successful business or achieving a top position in the corporate world, higher education plays a major role. Availing a personal loan for education can help you take a step ahead towards realising your dreams.