The cost of education is rising and this means many students are struggling to afford higher education abroad. Loans are often essential for students who cannot come up with enough cash on their own to cover their education expenses in a foreign country. The good news is there’s a way for you to get a personal loan with low-interest rates, flexible repayment plans, and reasonable credit requirements. A personal loan for education is available from many lenders at competitive rates and flexible terms that tailor themselves to your individual needs.
A personal loan for education is a great way to finance your higher education abroad. It can be used as the sole funding source, or in conjunction with other sources such as scholarships and grants. You can take this loan to fund any course you want, including an undergraduate, postgraduate, diploma, Ph.D., or specialized IT course.
This blog will help you understand what a personal loan is and how it works so that you can get the education in a foreign institute that you deserve, without the money issue holding you back.
Reasons to Take a Personal Loan for Education
The cost of education has been steadily increasing with each passing year. It is evident from the fact that between 2015 and 2018, the So, it is only natural for you to take out a personal loan for education if you want to make sure that your savings aren’t drained by paying for your tuition fees.
NBFCs like Clix Capital offer personal loans that help you when you aim towards achieving these goals! While there are many great reasons why you should consider taking a personal loan, the most obvious ones include ample loan amount, flexibility, affordability, and low-interest rates. One of the best things about personal loans is that they are collateral-free, which means you can fund your education without putting any assets at stake.
Features and Benefits of Clix Capital’s Personal Loan for Education
Hassle-Free Application: It’s never been easier to get a personal loan for higher education. Just fill the online application form and get your approval without visiting the lender’s office even once.
Fast Approval: With Clix Capital, you can apply for your loan online and you may get your approval in 15 minutes*!
No End-Use Restrictions: You are free to finance education in India or abroad for any course or institute of your choice. You can use your approved loan amount to fund books, accommodation, tuition fees, computers, books, and any other education-related expenses.
Flexible Repayment Tenure: Once approved, you have 12 to 48 months of tenure to repay your loan. You may use a personal loan EMI calculator to get clarity about your monthly EMIs.
No Collateral Required: Personal loans are unsecured loans that are approved on the basis of your eligibility and credit score.
Eligibility Requirements for Personal Loans
Before you apply for Clix Capital’s personal loan for education, be sure to meet these eligibility conditions:
- You must be 25 to 58 years of age
- You must be earning minimum ₹ 25,000 per month
- You must be working with the current employer for at least 6 months
- You must have a work experience of at least 12 months in the industry
Documents Required to Apply for a Personal Loan for Education
Keep these documents ready while applying for Clix Capital’s personal loan for education:
- Duly filled online application form
- Recent passport size photograph
- Identity proof like Aadhaar card or Pan card, or government ID for government employees
- Address proof like Aadhaar card, voter ID, passport, driving license, etc.
- Income proof, including your last month’s payslip or current year’s Form 16
You don’t need to upload these documents if your KYC is linked with Aadhaar and PAN. Just provide the needed details and get the documents verified online. However, if your KYC is not updated, you will need to upload your documents while filling your application.
Choosing the Right Personal Loan Tenure
Personal loans for education are one of the best opportunities to get a higher degree in a overseas institute. A good idea would be to use a personal loan EMI calculator and find the most suitable repayment tenure according to your needs and repayment capacity.
A personal loan for education is closer than you think. Clix Capital is a reputed NBFC that specializes in helping students with personal loans for their education needs. Just apply for our personal loan by filling out our form today and upscale your career.
You can also reach out to us at email@example.com or call us at 1800 200 9898
* T & C Apply