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Learning is earning. If that is something you believe in, then don’t let the lack of funds get in the
way of your future. Education is one of the best ways to take one’s career and life goals forward.
Get an Education Loan from Finnable to cover your fees and costs to study further and boost
Apply for an student loan loan online via Finnable and pursue the educational qualification you always wanted,
be it in India or abroad.
Quality education plays a crucial role today for any individual, and students generally go the extra mile to achieve that. But the cost of education has been on the rise lately, and an education loan seems to be the best option. Education costs not only in India but also abroad are rising every day. The ever-increasing college and school fees have become challenging for students to afford quality education. An education loan is one that students apply for to get funds for their education in India or abroad. Giving the best quality education is a top priority for all parents. In keeping in mind, parents also invest their money in mutual funds, unit-linked insurance plans, fixed deposits, etc. long-term. However, despite everything, they might still encounter a shortage of funds. Hence education loan plays a crucial role in such a scenario by helping to bridge the gap between the shortfall and the required amount.
It covers all the essential course fees and related expenses like accommodation, examination and other charges. Additionally, anybody can apply for an education loan as a student is a primary borrower even a sibling, spouse, or parents can apply for the applicant. An education loan from Finnable allows you to realize all your objectives of studying in a good institution at a low-interest rate. You can expect a 100% digital application process and a stress-free experience. Besides, getting admission to your dream college is that easy.
It is not important to pay the amount instantly for those students who apply for the education loan and the repayment tenure starts from the month or day after the completion of the course. In some cases, it can be extended for at least 5 years. The loan amount will be directly paid to the institution or the university at the start of the semester. It includes all the expenses like hostel fees and library fees so that the student does not have to pay any expenses from their pocket or break their bank for any expenses.
EMI’s are all about the interest rate and the interest portions. It is the entire amount that you pay every month till you end up replying to your total loan. The EMI is generally fixed on the entire tenure of your loan. At the beginning of the loan, a significant portion of the repayment would go to the exciting part. As you keep repaying your loan, a significant portion will be adjusted for the principal amount of the loan.
You can use an EMI calculator to know the EMI that you pay monthly for your education loan. The education loan EMI calculator is an online instrument that helps you calculate the amount you must pay every month after borrowing the educational loan. It will give you an estimated schedule showing the EMI break up in terms of the interest paid every month and the principal you have to pay.
It will give you the details of the loan you have repaid every month and how much you have to pay. It will give you a fair idea of how much an education loan will cost you by helping you calculate the total interest amount that needs to be paid over the entire loan tenure.
You will choose to know how much you have to pay every month as you would be giving in to the EMI of the loan if you plan to apply for an educational loan.
Besides giving a quick real-time estimation of the EMI amount and saving time the educational loan EMI calculator offers some amazing benefits mentioned here
There is some possibility of error when you calculate the education loan EMI manually. But with the education loan EMI calculator, you can rest assured that you would get precise estimations on the education loan.
You can easily calculate the EMI amount as you just need to enter the data in the calculator. The piece of information will reflect the weather and by when you can pay the loan amount and it is the probable impact on your finances.
You can use the calculator to estimate the EMIs would be required to pay on the loan. The tool will instantly tell you the amount of your EMI when you just enter the tentative loan amount tenure and the interest rate besides the course duration.
A simple calculator-like interface has only four inputs. You just need to enter the loan amount, interest rate rule, tenure and course duration and you are good to go.
You can change the combination of the 4 inputs to arrive at the amount of EMI that works for you and also you can plan the repayment.
This tool is also 100% free and user-friendly, which means you just have to enter the details mentioned here to get the proper amount. These are the details that you need to enter to calculate the loan EMI accurately:
It is the educational loan amount that you need, and you will have to update the loan amount by just marking it on this calculator.
In the education loan EMI calculator, you have to update on how long you would prefer to extend or shorten the tenure of the loan. It is the timeline that you will be paying your EMI, and you also have to know that the longer the tenure of the EMI, the minimum amount you would be paying, and the shorter the amount of the tenure, the higher the EMI you have to pay.
Finnable Offers different interest rates depending on the loan type and the tenure of your educational loan. In the education loan EMI calculator, you just need to enter the amount and be notified of the EMI amount.
The education loan interest rate ranges from 16% to 28%. It is mainly decided on your income, occupation, credit history, and how much you can shell out. With the help of an interest rate calculator, you can determine the interest rate. You must choose accordingly because you must also make the EMI payments regularly. Finnable Takes pride in announcing that we also offer rewards to our borrowers for on-time payments.
The interest rates also depend on your educational loan type and other factors. Here is a breakdown of the different types of education loans.
This loan is primarily for students who like to pursue education in India. They will get this loan if admitted to the Indian educational institution and meet all the other criteria. The education loan interest rate depends on the institution you are enrolling in, so you must consider this factor before choosing any institute.
These loans help the students realize their dreams of pursuing the course of their desire in a foreign institution. It covers your airfare accommodation and tuition fee for those students who look forward to studying abroad only if they satisfy all the eligibility criteria.
The education loan for undergraduate courses gives the students financial aid to complete the course. The undergraduate degree is for 3 to 4 years under different specializations. The undergraduate degree will help students to get a decent job so that they can start earning.
plenty of undergraduate students look forward to continuing their education with a postgraduate degree. It is ideally a two-year-long course in India, and students want to get admitted to this course because they get more profound knowledge in the interest area.
Several professionals who work for years in corporate jobs prefer to pause their careers and take a professional training course to improve their employment prospects. Such people strive hard to get in the reputed business and technical skills to Polish the skills and reach better heights in their career.
It is important for you to submit the correct documents to get the education loan from Finnable. Documents required for such alone might vary depending on your situation. You have to submit all the documents including identity proof address proof and of course income proof in case the parents of the students are applying for the loan. It is important to connect with the financial institution firstly to understand the documents required before you start the loan application process.
After loan sanctioning you need to submit the loan agreement which is signed by the applicant and the Co-applicant. Security PDC should be submitted in case of payment is SI and ACH.
Finnable is your best bet if you want to apply for an education loan in India. Applying for an education loan is easy because the process is simple and quick. You just need to follow the steps mentioned there. If you want an education loan, you should apply online because the process is easy, and you can do it from the comfort of your house.
Once you are done with the application form there is also a round of personal discussion with the financial institution expert where you would be asked questions relating to the academic performance of the course or the subject that you have selected and probably the institute. This round basically ensures that you are completely interested in studying and the loan amount sanctioned to you would be worth it.
Furthermore, you need to ensure that you have a guarantor for your loan and your parents or guardians can also become your guarantor. Before sanctioning the loan the experts will do a thorough check of the guarantee and their credit history. The institute can deny or sanction your application after the completion of this process.
This is how you can apply for an education loan.
The education loan eligibility criteria are mentioned here, and you must ensure that you meet these criteria to avail of a loan.
If you are a salaried borrower then the basic criteria for you are as follows
Education loan eligibility criteria are different, and you can connect with the experts to know more.
Enjoy lower EMI’s with interest charged on reducing balance method. As opposed to Flat rate of interest, Reducing balance ensures EMI amount remains low.
Apply for a personal loan in a few clicks by submitting only a few basic documents and get the loan money transferred in your account as quickly as 2 hours. The entire process is 100% digital.
Apply for personal loans with minimum documentation and get high loan amounts of upto Rs.10 Lakhs. The loan tenure can be anywhere between 6 and 60 months.
Please write to your personal loan assistant at firstname.lastname@example.org for any support. We aim to provide you a seamless and hassle-free experience.
Apply for personal loans with minimum documentation and get high loan amounts of up to Rs.10 Lakhs. The loan tenure can be anywhere between 6 and 60 months.
Personal loans can be used for multiple purposes- to fulfil your desires or meet urgent financial needs. This is why we bring you a range of products to suit your needs and desires.
You can either apply using the Finnable website or the Personal loan app. You need to fill out your profile information, submit the required KYC documents, and apply for the education loan.
To be eligible for a study loan in India the individual should:
We offer student loans with a tenure of up to 60 months or 5 years.
Yes, all education-related expenses can be covered using the funds from an student education loan. This study loan amount can be later utilized to pay course fees, buy study materials, exam fees, the cost of a laptop, and any other costs that you might incur throughout your education.
We at Finnable look at only your employment history & cibil score to sanction an education loan.
We at Finnable, offer education loans of up to Rs. 10 lakhs.
At Finnable we don’t have any restrictions on courses or the period of study for an education loan. Students from all streams can apply for student loan. As an applicant, you can be a student studying for graduation or a parent looking to fund your child’s school fees. One can also avail an education loan for abroad studies too.
Yes, Finnable also offer education loans without collateral.
Education loans can be a way out when looking to fund your own or your child's education without having to worry too much about money.
In such a case, since the study loan is already sanctioned, you will need to repay the loan. In case you wish to pay the loan quickly, you will not incur any foreclosure charges.
An education loan is commonly known as a student loan interest amount that you borrow from a financial institution to pay for your academic fees or your loved ones.
Yes, there are tremendous benefits of taking an education loan from Finnable, as you can get a flexible amount and, at the same time, refinancing options.
Yes, it is easy to get an education loan from Finnable. You must follow the steps mentioned to apply for the loan and start. The processes are all the more seamless provided you have all the documents handy.
Yes, the parents and the guardian are treated as Co-applicant in the student loans, so their role is crucial.
Anybody who looks forward to studying ahead can apply for an education loan. You can refer to the eligibility criteria before applying for the loan.
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Finnable is one of the fastest growing financial technology (Fintech) start-up with an NBFC license from RBI providing hassle free loans. Our mission is to make Personal loans available in less than 24 hours
Example of Personal Loan for Salaried Professionals✓ Loan Amount from ₹50,000 to ₹10,00,000✓ Repayment period (loan tenor) options vary from 6 to 60 months ✓ Annual Interest Rate (APR) is 16% to 26% (on a reducing balance basis) + processing fees of 3 to 4% on the principal loan amount ✓ For Example – a loan of ₹1,00,000 with an APR of 16% (on a reducing balance basis), repayment tenure of 12 months, processing fee of 3%. The processing fee will be ₹3,000 + ₹540 GST with monthly EMI will be ₹9,394. The total loan amount will be ₹1,03,540. Total interest payable over 12 months will be ₹9,191. Total loan repayment amount is ₹103540 + ₹9191 = ₹1,12,731 *These numbers are for representation only and the final interest rate or processing fee may vary from one borrower to another depending on his/her credit assessment.✓ Loan Prepayment Charges: 3 to 6% charge + 18% GST on the remaining principal amount (allowed after 6 EMI payments)Why is Finnable the best personal loan app?Instant Loans within 48 hours: Gone are the days when you had to wait weeks & months to get a loan approved.Completely Digital/Paperless: Finnable instant loan app offers a complete digital service to help save time as well as paper!
Contact Us: Drop us an email: email@example.comAddress: IndiQube Lakeside, 4th Floor Municipal No. 80/2 Wing A, Bellandur Village Varthur, Hobli, Bengaluru, Karnataka 560103
Responsible LendingFinnable has partnered with RBI authorised & regulated NBFCs/Financial Institutions.Our policies and services are fully regulated and legally compliant.
Personal loan in Ahmedabad| What Is Unsecured Loans | Education Loan For MBBS | Types Of Personal Loan | Difference Between Secured And Unsecured Loans | How To Apply For A Student Loan | Difference Between Credit Score And Cibil Score | Types Of Unsecured Loans | Home Loan Vs Personal Loan | How To Repay Loan Faste
Example of Personal Loan for Salaried Professionals✓ Loan Amount from ₹50,000 to ₹10,00,000✓ Repayment period (loan tenor) options vary from 6 to 60 months ✓ Annual Interest Rate (APR) is 16% to 26% (on a reducing balance basis) + processing fees of 3 to 4% on the principal loan amount ✓ For Example – a loan of ₹1,00,000 with an APR of 16% (on a reducing balance basis), repayment tenure of 12 months, processing fee of 3%. The processing fee will be ₹3,000 + ₹540 GST with monthly EMI will be ₹9,394. The total loan amount will be ₹1,03,540. Total interest payable over 12 months will be ₹9,191. Total loan repayment amount is ₹103540 + ₹9191 = ₹1,12,731 *These numbers are for representation only and the final interest rate or processing fee may vary from one borrower to another depending on his/her credit assessment.✓ Loan Prepayment Charges: 3 to 6% charge + 18% GST on the remaining principal amount (allowed after 6 EMI payments)Why is Finnable the best personal loan app?Instant Loans within 48 hours: Gone are the days when you had to wait weeks & months to get a loan approved.Completely Digital/Paperless: Finnable instant loan app offers a complete digital service to help save time as well as paper!Why is Finnable the best personal loan app?Instant Loans within 48 hours: Gone are the days when you had to wait weeks & months to get a loan approved.Completely Digital/Paperless: Finnable instant loan app offers a complete digital service to help save time as well as paper!CIBIL Score Not Required for Taking a Loan: Unlike other personal loan apps online, you can take a loan even without an existing CIBIL ScoreNo Hidden Charges: A key feature that makes Finnable one of the best loan apps available is transparency. There are no hidden charges whatsoever, making the entire process a smooth one.Finnable instant loan app offers a wide range of EMI plans. You can also use our personal loan EMI calculator to help you choose the perfect plan.Loan Eligibility Criteria for Salaried Individuals (No Blue-Collar Employees)•The net in-hand salary of the individual has to be ₹25k and above in metros or ₹15k and above in tier 2 & other cities•He/she should have worked for more than six months•First-time borrowers need to have a Finnable score of 650•The individual should have valid Aadhaar, Pan & Address proof•Finnable Loan is currently available in 23 citiesHow to Apply for Instant Personal Loans Online?• Register with OTP• Ensure that you have the documents listed on the Web/App• Provide details of amount required, net monthly salary & any other EMIs• Do KYC & profile setup• Validate address with pin code verification• Select amount & tenure• Provide bank details
APR ChargesThe APR (Annual Percentage Rate) charges differ from person to person as it considers the different products availed and the risk profile of the customer. However, it generally ranges between 16%-26%.
Contact Us: Drop us an email: firstname.lastname@example.orgAddress: IndiQube Lakeside, 4th Floor Municipal No. 80/2 Wing A, Bellandur Village Varthur, Hobli, Bengaluru, Karnataka 560103Responsible LendingFinnable has partnered with RBI authorised & regulated NBFCs/Financial Institutions.Our policies and services are fully regulated and legally compliant.
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