InCred is a major NBFC that offers personalised education loans to students who wish to study abroad or in India. The hallmark feature of InCred loans lies in their flexible terms that allow students of different profiles to secure an education loan. Interest rates on InCred Education Loans depend on a student’s academic records, academic course, type of institution, co-borrower’s financial strength and collateral offered. An InCred Education Loan will cover not only your tuition fees but also living, travel expenses, and other education-related expenses.
Features Of InCred Abroad Education Loan
| Sr. No | Features | Education Loan Details |
|---|---|---|
| 1 | Loan amount | ₹1,00,00,000.00 (Collateral) ₹50,00,000.00 (Without Collateral) |
| 2 | Margin money | Nil |
| 3 | Processing fee | 1.0% to 1.25% |
| 4 | Processing time | Login to Decision is 48 working hours, Decision to disbursement is 7 working days |
| 5 | Loan tenure | 15 Years |
| 6 | Prepayment charges | Nil |
| 7 | Repayment holiday | NIL (Partial repayment mandatory, it can go as low as 2000 per month) |
| 8 | Countries covered | USA, Canada, UK, Ireland, New Zealand, Australia, Germany and others |
| 9 | Payment study period | Simple Interest or Partial Simple Interest, depending on the student’s profile and the target course. |
Benefits of InCred Abroad Education Loan
1. Up to 100% finance. 2. Flexible repayment options. 3. No margin money. 4. Digitized process with UniCreds. 5. Express approvals. 6. Customised education loan solutions. 7. Education Loans that cover living expenses, caution deposit/building fund/refundable deposit and travel expenses for students going abroad. 8. Online account management post disbursement of education loan.
Benefits Of Getting Your InCred Abroad Education Loan Through UniCreds
Higher Chance Of Approval
Online Service
No Cost To You
Quicker Sanctions
Eligibility Criteria For InCred Abroad Education Loan
| Sr. No | Type | Requirement |
|---|---|---|
| 1 | Eligibility For An Incred Abroad Education Loan | 1. Indian citizens/Indian passport holders who are currently registered or are planning to enrol in a qualified course can apply. 2. The co-borrower should also be an Indian national or passport holder. 3. 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. |
Documents Required for InCred Abroad Education Loan
For an InCred Education Loan, UniCreds provides you with a customized documents list that depends on your profile, your co-applicant’s profile and any property/asset, which you may offer as collateral. However, at a higher level, the following documents will be needed:
| Sr. No | Type | Documents Required |
|---|---|---|
| 1 | Applicants | Identity Proof Address Past Academic Record |
| 2 | Co-Applicants | Identity Proof Address Financial |
How To Apply For InCred Abroad Education Loan?
1. Apply online and upload all your documents. 2. Wait for your application to be processed. Once your application and documents are verified, your InCred Education Loan will get approved. 3. Get your loan sanctioned and wait for disbursal of funds!