Why You Should Take An InCred Education Loan?

Written by Kimberly Linhares

From reading cheesy young adult novels to writing reviews about them. Books, have been an escape from reality. Writing, to capture a little bit of everything about my versatile lifestyle. Let’s talk but first grab some coffee!

February 9, 2022

Do you dream to study abroad but don’t have the right financial resources to support you? Or have you got into an esteemed university and you’re looking for financial aid? If your answer to those two questions is a yes, then an education loan is your way to go. Let’s look into InCred education loan and why it could be the right fit for you.

About InCred Education Loan

InCred is a prominent NBFC that provides individualised education loans to students studying abroad or in India. InCred loans are distinguished by their flexible terms, which enable students of all backgrounds to get an education loan. 

The InCred Education Loan interest rates are determined by a student’s academic records, academic course, institution type, co-financial borrower’s strength, and collateral given. This student loan will cover not only your tuition but also your living expenses, travel expenditures, and other education-related costs.

Vision: To establish a reliable, transparent, and high integrity financial institution that contributes to the socio-economic well-being of lower-middle and middle-class Indian households while safeguarding the interests of various parties.

Mission: By merging cutting-edge technology, data science, and deep financial domain expertise, we will be relentless in instilling and maintaining a culture of continuous innovation and execution excellence, offering the best-suited profitable goods in the most dignified experiences for every customer.

Benefits Of InCred Education Loan 

Up To 100% Finance 

Whether you opt for an InCred Education Loan without collateral or with, you can expect up to 100% of financing. With so many different types of expenses to cover during your stay abroad, you can rest assured with InCreds.

Flexible Repayment Options 

Make use of the repayment choices available with InCred Education Loan, which allows loans to be tailored to the needs of the consumer. If you have any particular criteria for your education loan, please contact UniCreds, and we will pass them to the InCred team, who will then give you the best options that match your needs.

No Margin Money 

Obtaining an education loan with InCred has many advantages of education loans from other banks in that there is no margin money. In a nutshell, margin money is the amount of money that borrowers must pay themselves, with the lender covering the rest. This means that the loan will cover all expenditures except tuition, housing, travel, and the Caution Deposit/Building Fund/Refundable Deposit. As a consequence, you will not have to spend anything out of pocket to support your education and related expenses.

Digitized Process 

UniCreds makes it easy for you to upload documents without having to visit the branch. This helps you save energy, time, and money, as well as avoid the physical labour of dealing with large amounts of paperwork.

Express Approvals 

In the case of an emergency, you can utilise UniCreds to expedite the loan application process. In reality, your student loan should be finalised within two working days. If you need to meet a deadline to get your loan sanctioned, pay the cost, or acquire your visa, contact UniCreds and we will make sure your loan is granted on time.

Customised Education Loan Solutions 

Get tailored options for your education loans, such as tenure, payment during the moratorium period, and disbursement, from InCred to meet your individual needs.

Loan Coverage 

InCred offers education loans that cover living expenses, caution deposit/building fund/refundable deposit, and travel expenses for students going abroad.

Online Account Management 

Following the disbursement of your InCred loan, you will be able to access an online account to examine a comprehensive history of all your transactions, interest and EMI payments, and so on. This helps you to keep an organised and consistent record of transactions while also ensuring transparency.

Eligibility For InCred Education Loan 

You are only eligible to apply for the InCred Abroad Education loan if you meet the following criteria:

For The Borrower & Co-Borrower – 

  • Indian citizens/Indian passport holders who are currently registered or are planning to enrol in a qualified course can apply.
  • The co-borrower should also be an Indian national or passport holder.
  • Non-resident Indians (NRIs) with an Indian passport or with a card from Overseas Citizens of India (OCI) or Persons of Indian Origin (PIO) are also entitled to apply to InCred for an education loan. Such special requirements are expected to be fulfilled on a case-specific basis for certain applicants and co-borrowers.

Eligible Courses – 

You are eligible for the InCred loan if you’re undertaking any of the following courses:

  • Undergraduate Programmes (Bachelor Degrees)
  • Postgraduate Studies (Masters Degree)
  • Doctoral-Level Programmes
  • Certificate And Diploma Programmes

InCred provides financing for any disciplines and courses that have been approved by the relevant regulatory organisations.

Eligible Countries – 

Currently, InCred offers financing alternatives in the USA and Canada. Loan applications for other locations will be processed based on the programme and course.

Also Read: CSS Financial Aid Profile Vs FAFSA

Loan Repayment 

Flexible repayment choices are provided under the InCred loan terms and conditions. However, the most popular method of repaying an NBFC Education Loan is the partial payment of interest while the student is still enrolled in the course.

On average, the monthly payment in the InCred Education loan plan ranges from Rs. 2000 to Rs. 5000. This amount is maintained as low as possible so that the student is not at any inconvenience. Following the conclusion of the course, the EMI payment for the InCred Loan begins. The majority of InCred Loan payments are made online.

PS: If there’s anything more you’d like us to know about. Add it to the comments section!

We hope you enjoyed reading this blog on ‘Why You Should Take An InCred Education Loan?’. Do check out our other blogs. 

  1. Can You Get A Graduate Subsidized Loan For School?
  2. Do Student Loans Count As Income? Here’s What You Need To Know
  3. How To Change Your Student Loan Servicer

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