Education Loan – Complete Guide by Speedy Loan Finance Services

An Education Loan, also known as a Student Loan, helps students pursue higher education without financial constraints. Whether you are planning to study in India or abroad, education loans cover tuition fees, living expenses, books, travel, and other academic costs.

At Speedy Loan Finance Services, we assist students and parents in securing the best education loan options through trusted banks and financial institutions.

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1. Courses & Institutions Covered

Education loans are available for:

• Undergraduate & postgraduate courses
• Professional courses (Engineering, Medical, MBA, Law, etc.)
• Vocational and skill-based programs

Loans can be availed for:

• Recognized Indian institutions
• Approved foreign universities

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2. Credit Score & Co-Applicant Requirement

CIBIL Score Importance:
Education loans are primarily sanctioned based on the co-applicant’s credit profile (usually parents or guardians).

Preferred Score:

• 750+ → Best interest rates & faster approval
• 700–749 → Good approval chances
• Below 700 → Approval possible with conditions

A strong co-applicant profile improves eligibility.

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3. Income & Repayment Capacity of Co-Applicant

Lenders assess:

• Monthly income of parents/guardians
• Employment stability or business income
• Existing loan obligations

This ensures the family can support repayments after course completion.

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4. Collateral & Security (If Required)

Loans Without Collateral:

• Generally up to ₹7.5 lakhs (as per bank policies)

Loans With Collateral:

• Property, fixed deposits, or other approved assets
• Higher loan amounts available

Collateral improves loan limits and interest rates.

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5. Loan Amount & Expenses Covered

Education loans may cover:

• Tuition and examination fees
• Hostel and accommodation charges
• Books, laptop, and study materials
• Travel expenses (for overseas studies)

Loan amount depends on course, institution, and country.

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6. Repayment & Moratorium Period

Moratorium Period:

• Course duration + 6–12 months

Repayment Tenure:

• Up to 15 years after moratorium

This allows students to focus on education before starting repayment.

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7. Documentation Required

Student Documents:

• Admission letter from institution
• Academic records (10th, 12th, graduation)

Co-Applicant Documents:

• PAN Card & Aadhaar Card
• Income proof (salary slips / ITR)
• Bank statements (last 6 months)

Complete documentation ensures smooth processing.

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8. Bank & NBFC Partners for Education Loans

We work with leading lenders, including:

• State Bank of India (SBI)
• HDFC Bank
• ICICI Bank
• Axis Bank
• Punjab National Bank (PNB)
• Bank of Baroda
• Federal Bank
• Tata Capital
• Bajaj Finserv
• IIFL Finance

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Summary Checklist for Students & Parents

Before applying:

• Confirm admission to a recognized institution
• Ensure co-applicant has stable income
• Check credit score of co-applicant
• Arrange required documents

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Why Choose Speedy Loan Finance Services?

• Expert education loan counseling
• Multiple lender comparisons
• Transparent process with no hidden charges
• End-to-end support till disbursal

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Apply for Education Loan Today

Take the first step toward a brighter future with Speedy Loan Finance Services.

📧 Email: loanspeedy@gmail.com
📞 Contact: 7350005590

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Tags

• Education Loan
• Student Loan
• Study Abroad Loan
• Speedy Loan Finance Services

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