study abroad loans
Guest
May 02, 2024
6:03 AM
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Based on the location, there are two types of education loan process:
Education loan in India - Individuals can apply for this form of the loan if they wish to pursue their education in India. Only applicants who are accepted into Indian educational institutions and who meet all other requirements set forth by the lender will have their loan requests approved.
Education loan for abroad studies - These loans assist students in realizing their dream of attending an abroad institution to pursue their chosen course of study. Students who want to study abroad can apply for a loan that will pay for their airfare, lodging, and tuition as long as they meet the requirements.
Moving ahead, let's discuss,
The Features And Benefits Of Education Loans In India!
The following are some:
For NRI students, the maximum loan amount is Rs 30 lakhs, while for others, there's no limit on the loan amount.
The primary benefit of an education loan in India is that it can be used to pay for various things. It covers all the costs associated with living as a student, food, college fees, study materials, laptops, library fees, and much more.
Students have a wonderful opportunity to build their credit history when they take on loan repayment responsibilities. By making EMI payments on time, the student can retain consistency and discipline and build a positive CIBIL report.
The education Loan interest rateis typically lower than those of other loan types, such as personal loans.
In accordance with section 80E of the Income Tax Act of India, 1961, you are entitled to tax benefits on interest paid on an education loan.
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4:22 AM
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