What are the features of an education loan? Education is not cheap, whether we consider it in India or abroad. However, parents can simply decide to switch to education loans that can save their child’s future, irrespective of their financial condition. Buddy Loan serves as a big support system to your dream education.
An education loan is an offer for students to pursue an education in any condition. For the students who are intelligent and are willing to study, Buddy Loan gives them the facility of not just Buddy Loan provides student loan to study abroad also. According to the norms by RBI, a student loan can have a rate of interest varying from 9-10%. The amount of loans could range from a minimum of 10 lacs to a maximum of 15 lacs for studying in India. In contrast, the principal amount for studying abroad could be approximate 20 lacs. However, education loans could only be taken for studies like graduation or post-graduation. It is not valid for schooling. One can also apply for student loans online by simply logging into the website and filling necessary details. Buddy Loan replies within 3 hours of the application. Hence instant education loans are a feature of Buddy Loan. Depending on essential factors such as course and financial status of the family, education loan can be customized that sets a particular interest rate or time duration to pay the debt. Hence you can repay the loan burden-free. In case, more funds are required, negotiations can also be made. The choice, of course, is 100% made by the student, hence applying for a small student education loan as well. Some security amount is taken by the guardian of the parents and is fully retuned once the repayment is made. It could either be a money value or an asset as a guarantee. For small loans by students, even this security is not required. This procedure requires some conditions such as the student should be an Indian, and not even an NRI, basically the one holding an Indian passport. There’s a specific age gap in which the student can apply for an education loan that has an admission letter proof from the college as a proof