InCred - Education Loan
NBFC
Collateral free loans available
Loan Margin : NIL
5 days avg loan processing time
Margin
NIL
Collateral
Collateral free loans available
Loan Tenure
Upto 15 Years
Processing fee
1.0% onwards
Early Repayment
Yes(without any charges)
Living Cost
Yes
Secured Loan
Amount
Up To 2Cr
Un-Secured Loan
Amount
Up To 75Lac
UniCreds Guarantee
100% transparent process
Fast loan processing
Free of cost service
No hidden fees
Features of InCred Education Loan For Abroad Studies
Pursuing education abroad cracks open many opportunities, but it also requires careful financial planning. Before taking out an education loan for your study abroad dreams, it's crucial to understand and assess your financial capacity. Scrutinising the key features of any loan is an important step. Here is an overview of the InCred education loan features:
| Features | Education Loan Details |
|---|---|
| Loan amount | Upto ₹2Cr (Collateral) Upto ₹75Lac (Without Collateral) |
| Margin money | Nil |
| Processing fee | 1.0% onwards |
| Processing time | 5 Days |
| Loan tenure | 15 Years |
| Prepayment charges | No charges after six months from first disbursement |
| Repayment holiday | Partial/ SI/Direct EMI. |
| Countries covered | USA, Canada, UK, Ireland, New Zealand, Australia, Germany and others |
| Payment study period | Simple Interest or Partial Simple Interest, depending on the student’s profile and the target course. |
Looking for
Faster and
streamlined Process?
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Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.
Eligibility Criteria to Apply for InCred Student Loan
Once you've understood the InCred education loan eligibility criteria, you're one step closer to fulfilling your dream of studying abroad. Equipped with this knowledge, you can confidently proceed with the application process, ensuring that you meet all necessary requirements. Here are the essential eligibility requirements:
| Type | Requirement |
|---|---|
| Nationality & Age Requirement | Applicants must be Indian citizens and at least 18 years old at the time of application. |
| Academic Requirement | You must have secured an admission in a recognised university. Additionally, you need to demonstrate a consistently strong academic performance |
| Course Accreditation | The loan covers regular graduate/post-graduate courses, diplomas, certificates, or doctorate programmes offered by recognised foreign universities. |
| Co-applicant Eligibility | A co-applicant is required for the loan application, who can be a parent, sibling, spouse, relative, or legal guardian. The co-applicant should have a steady income and a positive credit history. |
| Eligible Countries | As of now, InCred abroad education loan offers financing options both in the United States and Canada. Depending on the course and programme, loan applications will be processed for other locations. |
Benefits of InCred Abroad Education Loan
If you choose InCred, you get the access to flexible repayment options, insurance coverage, and access to InCred education loans without collateral. With these many benefits, you have no reason to say no to studying abroad! Given below are some of InCred’s benefits worth considering:
Benefits Of Getting Your Education Loan Through UniCreds
Get Guidance at every step of your loan application
We ensure 100% transparency throughout the education loan process.Our education loan counsellors will stay by your side every step of the way.
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Need Guidance Faster? Call us at:
18001217661
How to Apply for InCred Abroad Education Loan?
The process of funding your international education is made easier with UniCreds as your partner. Here's how we simplify the application process for InCred student loan programme:
1. Initial Discussion: Contact UniCreds to schedule a free consultation with our loan experts. We'll discuss your educational goals, financial situation, and preferred loan options to better assist you.
2. Document Collection: Our team will provide a clear list of documents needed for your InCred loan application. We'll guide you through gathering these documents efficiently.
3. Application Support: UniCreds helps you complete the InCred education loan application accurately and promptly, ensuring all required information and documents are included to prevent delays.
4. Comparing & Negotiating Loans: While focusing on InCred, we'll explore other lenders and programmes to find the most competitive terms for you. We may negotiate lower interest rates with lenders on your behalf.
5. Submitting & Tracking Application: Once your InCred application is ready, we'll submit it and keep you updated on its progress. We handle all communication with the bank for you.
6. Loan Approval & Funds Disbursement: Upon approval, InCred will explain the loan terms clearly. We'll guide you through the disbursement process to ensure the funds reach your account smoothly.
Looking forFaster and
streamlined Process?
100% Transparency
100% Free
Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.
Documents Required for an InCred Education Loan
Preparing the required documents is essential for a smooth InCred abroad education loan application process. Partnering with UniCreds ensures you have everything you need to avoid delays. Here's a general overview of the documents typically required (please note specific requirements may vary):
| Type | Documents Required |
|---|---|
| Personal Documents | 1. Completed InCred loan application form 2. Passport (first and last page) 3. Proof of Identity (Aadhaar Card, PAN Card, Voter ID, etc.) 4. Proof of Address (utility bills, rental agreement, etc.) |
| Academic Documents | 1. Acceptance letter from your chosen university abroad 2. Most recent academic transcripts (including mark sheets and degrees) 3. Standardised test scores (if required by the university, like GRE, GMAT, TOEFL, IELTS) |
| Financial Documents | 1. Income Tax Returns (ITR) of the applicant and co-applicant (if applicable) for the last 3 years 2. Salary slips of the applicant and co-applicant (if applicable) for the last 6 months 3. Bank statements of the applicant and co-applicant (if applicable) for the last 6 months 4. Estimated cost of attendance document from your university (including tuition fees, living expenses, etc.) |
| Additional Documents | 1. Scholarship letters (if applicable) 2. Proof of any educational loans already availed (if applicable) 3. Co-applicant's employment verification letter (if applicable) 4. Collateral documents (if required for the specific loan program you choose) |
InCred Education Loan Repayment Options
InCred recognises that funding your international education is an investment in your future. This is why they offer flexible repayment options to help you manage your loan comfortably after graduation:
1. Moratorium Period: Take advantage of a grace period of 1 year* after course completion before your regular EMI payments commence. This grace period allows you time to secure employment and adapt to your new financial circumstances.
2. Flexible Repayment Plans: InCred provides various repayment plan options for you to choose from based on your projected income and financial goals. Consult with a UniCreds advisor to find a plan that aligns with your specific requirements.
3. Early Repayment: You have the flexibility to make additional payments towards your loan principal at any time. This can help you save on overall interest costs and become debt-free sooner.
Remember UniCreds can also assist you in understanding the education loan repayment terms and creating a personalised repayment strategy. We'll guide you through the repayment options and ensure a smooth experience throughout your loan journey.
By partnering with UniCreds, you gain a trusted advisor who can guide you through the InCred Study Abroad Loan repayment process.
The displayed EMI amount is approximate & is subject to change based on various factors.
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