Question 1

Is there a margin on InCred education loans?

Accepted Answer

No. InCred education loans cover 100% of a student's expenses.

Question 2

What is the maximum loan I can get to study abroad?

Accepted Answer

You can get upto 70 lacs unsecured loan and with Collateral you can get upto INR 1 Cr.

Question 3

What is the tenure of an Incred education loan?

Accepted Answer

The tenure of an InCred education loan is up to 15 years.

Question 4

Is there a margin on InCred education loans?

Accepted Answer

No. InCred finance tuition + living + some miscellaneous expenses.

Question 5

Is the loan disbursed in favour of the borrower or the institute/college/university?

Accepted Answer

Tuition fees and on-campus housing fee is transferred to the university, whereas other living expenses are transferred to the borrower’s account.

Question 6

Do InCred education loans have any Income Tax benefits?

Accepted Answer

No, education loans do not have tax benefits if taken from NBFCs like InCred.

Question 7

Is there a prepayment penalty on InCred education loans?

Accepted Answer

No, not after 6 months from first disbursement.