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InCred - Education Loan

NBFC

No collateral needed

Loan Margin : NIL

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7 days avg loan processing time

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Margin

NIL

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Collateral

No

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Loan Tenure

Upto 15 Years

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Processing fee

1.0% to 1.0%

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Early Repayment

No

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Living Cost

No

Secured Loan

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Amount

Up To 1Cr

Un-Secured Loan

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Amount

Up To 60Lac

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UniCreds Guarantee

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Quick Loan Sanctions

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100% Transparency

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No Hidden Fees

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24x7 Support

Features of Incred Education Loan

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

FeaturesEducation Loan Details
Loan amountUpto ₹1Cr (Collateral) Upto ₹60Lac (Without Collateral)
Margin moneyNil
Processing fee1.0% to 1.0% 1%
Processing time7 Days Login to Decision 5-7 working days, Decision to disbursement is 7 working days
Loan tenure15 Years (up to)
Prepayment chargesNo charges after six months from first disbursement
Repayment holidayPartial/ SI/Direct EMI.
Countries coveredUSA, Canada, UK, Ireland, New Zealand, Australia, Germany and others
Payment study periodSimple Interest or Partial Simple Interest, depending on the student’s profile and the target course.

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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.

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InCred Abroad Education Loan Eligibility

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

 

TypeRequirement
Eligibility CriteriaFor the borrower & co-borrower - 1. Indian citizens/Indian passport holders who are currently registered or are planning to enroll 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.
Eligible CoursesYou are eligible for the InCred loan if you’re undertaking any of the following courses: 1. Undergraduate programmes (bachelor degrees) 2. Postgraduate studies (masters degree) 3. Doctoral-level programmes 4. Certificate and diploma programmes InCred provides financing for any disciplines and courses that have been approved by the relevant regulatory organisations.
Eligible CountriesCurrently, InCred offers financing alternatives in the USA and Canada. Loan applications for other locations will be processed based on the programme and course.

Benefits Of InCred Education Loan for Abroad Studies

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 InCred
Flexible Repayment Options
Make use of the repayment choices available with InCred Bank 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 a key advantage over 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.

Benefits Of Getting Your Education Loan Through UniCreds

Higher Chance Of Approval
By applying for your education loan through UniCreds, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With UniCreds, we will immediately reach out to InCred officials and find the best solution.
Online Service
With UniCreds, there’s no need to visit the branch to submit your documents. Simply visit the UniCreds website and upload your documents from the comfort of your home. You can also enjoy step-wise updates via notifications.
No Cost To You
All our education loan services are completely free of cost.
Quicker Sanctions
Our strategic partnerships ensure low turnaround time. Expect to have your education loan processed and sanctioned within 5 days.

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.

Need Guidance Faster? Call us at:

phone

18001217661

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Need Guidance Faster? Call us at:

phone

18001217661

How to Apply for an InCred Education Loan

Apply Online & Upload Your Documents:

1. After you've determined your eligibility, you may apply online or contact one of our experienced education loan counsellors and request a callback. Depending on your needs, our skilled counsellors can help you secure an InCred abroad education loan with or without collateral.

2. Once you've provided your profile data, our specialists will thoroughly examine your profile and, based on your eligibility, propose the next set of steps to you.

3. UniCreds allows students to upload documents online, saving you the inconvenience of presenting your documents at the bank and allowing you to do it from the comfort of your own home.

4. Furthermore, to expedite the process, UniCreds provides you with a customised list of documents to submit depending on your profile and the loan that you've applied for.

Processing and Approval:

1. You can send your loan application and accompanying paperwork to InCred for evaluation and real-time approval once you've uploaded/submitted the necessary documents.

2. UniCreds will connect with InCred on a regular basis in order to establish the progress of your application and ensure that it is handled as soon as feasible. Our website will keep you updated on the latest developments if any.

3. Applicants should be aware that the lender may contact them at this time to request more paperwork in support of their loan application. UniCreds will be sending these specific requirements to applicants. If an unreasonable demand is made, we will send it to the appropriate InCred authorities.

4. Once the documentation and application are confirmed to be free of errors or additional loopholes, the loan is accepted and ready for sanction.

Loan Sanction And Disbursal:

1. After your loan is approved, you must pay the processing fees in order to acquire the sanction letter.

2. Following receipt of the sanction letter, the student and co-applicant must complete the loan agreement within the validity period of the sanction letter, which is six months.

3. The student is eligible for loan disbursement after signing the agreement.

4. The lender will deposit the required sum of money into your bank account or university/account. We talk with the InCred team and get it done if the student requires disbursement prior to the visa as per the visa office's guidelines.

5. UniCreds will also guarantee that disbursements are completed on time, and students can contact UniCreds at any time during the loan's term.

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

unicreds

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.

unicreds-scholar-girl

Documents Required for an Abroad Education Loan By InCred

UniCreds supplies you with a personalised document list for an InCred Abroad Education Loan based on your profile, the profile of your co-applicant, and any property/asset you may present as collateral. However, the following documents will be required at a higher level:

TypeDocuments Required
For BorrowersSTUDENT: 1. Pan Card 2. Aadhar Card 3. Passport 4. University Admission Letter 5. Entrance Score Card - GRE/ GMAT/ TOEFL/ IELTS, etc. 6. Academic: 10th, 12th & Degree - All semester Individual Marksheets 7. Resume 8. Name, Address, Contact and Email ID of 2 References (Friends/ Family/ Neighbors) 9. 3 months Salary slips (If Applicable) 10. 6 months Bank Statements (If Applicable) 11. Form 16 / ITR (If Applicable) MOTHER & FATHER (BOTH COMPULSORY): 1. Pan Card 2. Aadhar Card 3. Mobile Number & Email ID
Co-SignerCO-SIGNER (Salaried-Job): 1. PAN Card & Aadhar card 2. Latest 3 months salary slips 3. Latest 1 Year Salary Credited Bank Statements 4. Latest 2 Years Form 16 5. Electricity Bill 6. Mobile Number & Email ID IF CO-SIGNER (Self Employed/Business): 1. PAN Card & Aadhar card 2. Latest 2 year ITR with Computation income, Profit & Loss and Balance sheet 3. Business proof (GST, UDHYAM ADHAR, and GUMASTA) 4. Latest 1 Year Bank Statement (Income Credited) 5. Electricity Bill 6. Mobile Number & Email ID
Collateral LoanCollateral Documents: 1. Registered Sale Agreement (All chains) 2. Share Certificate 3. All Property Related Documents- e.g- Sanction Plan, Tax paid Receipt 4. NA conversion certificate in case of Plot. 5. OC/CC and Approved Building Plan. 6. 7/12 Extract 7. Society NOC 8. Any other Documents associated with Property

Education Loan Repayment for InCred

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 for Abroad Studies 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.

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Years
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The displayed EMI amount is approximate & is subject to change based on various factors.

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Monthly EMI
0
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Principal Amount
1,600,000
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Total Interest
0
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Total Amount
0
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What our Students say about us

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Frequently Asked Questions

No. InCred education loans cover 100% of a student's expenses.
You can get upto 70 lacs unsecured loan and with Collateral you can get upto INR 1 Cr.
The tenure of an InCred education loan is up to 15 years.
No. InCred finance tuition + living + some miscellaneous expenses.
Tuition fees and on-campus housing fee is transferred to the university, whereas other living expenses are transferred to the borrower’s account.