InCred - Education Loan

NBFCs
Loan Margin: NA
No Collateral Needed

⚡Login to Decision is 48 working hours, Decision to disbursement is 7 working days

MarginNA
CollateralNA
Co-applicant RequiredYES
Loan Tenure15 Years
Processing Fee0.75% to 1.25%
Early RepaymentNo charges after six months from first disbursement
Secured LoanAmountUpto ₹1Cr (Collateral)
Un-secured LoanAmountUpto ₹65Lac (Without Collateral)

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Features Of Incred Abroad Education Loan

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

Features	Education Loan Details
Loan amount	Upto ₹1Cr (Collateral) Upto ₹65Lac (Without Collateral)
Margin money	Nil
Processing fee	0.75% to 1.25%
Processing time	Login to Decision is 48 working hours, Decision to disbursement is 7 working days
Loan tenure	15 Years
Prepayment charges	No charges after six months from first disbursement
Repayment holiday	Partial/ SI/EMI. Partial Interest amount can go as low as INR 4k per month(Exceptions case by case)
Payment study period	Simple Interest or Partial Simple Interest, depending on the student’s profile and the target course.

Eligibility

You are eligible to apply for the Incred student loan only if you’ve met the following requirements:

Type	Requirement
For Unsecured / Non-Collateral Loan	Borrower must be an Indian citizen Co-applicants must be an Indian citizen Confirmed admission to the colleges before disbursement Co‐applicant(s) may be any of the following relatives, viz Father / Mother / Brother / Sister (married) /Spouse
For Secured / Collateral Loan	The following types of collateral are accepted Residential Flat Residential House Non-Agricultural Land A Fixed Deposit, assigned in favour of Incred Commercial property – Shop

Type

Requirement

For Unsecured / Non-Collateral Loan

Borrower must be an Indian citizen
Co-applicants must be an Indian citizen
Confirmed admission to the colleges before disbursement
Co‐applicant(s) may be any of the following relatives, viz Father / Mother / Brother / Sister (married) /Spouse

For Secured / Collateral Loan

The following types of collateral are accepted

Residential Flat
Residential House
Non-Agricultural Land
A Fixed Deposit, assigned in favour of Incred
Commercial property – Shop

Benefits Of incred Study Abroad Loan

No margin money required
Up to 100% finance for Course Fee, Living and Other expenses
Tax benefit under Sec 80E
Attractive rate of Interest
No upper limit on loan amount
Long term loans resulting in easy EMIs
Flexibility in collateral security requirements
Loan against property mortgaged with Incred
The loan amount will be disbursed in Indian Rupees

How To Apply for Incred Abroad Education Loan through We Fund Your Future and Benefits You are getting?

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Higher Chance Of Approval
Online Submission Of Documents
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Applicant Documents

PAN, Aadhaar Card, Passport
Marksheet/Certificate of 12th Exam
Marksheet/Certificate of Subsequent Years of Education e.g. BE, BCom, BSc, etc.
Marksheet of Any Entrance Exam Taken e.g. CAT, CET, etc. (If applicable)
GRE/GMAT/TOFEL/IELTS, etc. Marksheets (If applicable)
Scholarship Documents (if applicable)
Proof Of Admission (If available)
I20 (If available)
Applicant Father and Mother PAN, Aadhaar cards, Photos

Type	Documents Required
Co-Applicant Documents	PAN, Aadhaar Card Last 6 Months Bank Statements of Co-Applicant In case of Salaried Employee (All the following) Latest 3 Salary Slips or Salary Certificate on Employer’s Letterhead Last 1 Year’s Form 16 from Employer or Last 1 Year’s Income Tax Returns Any Other Income Proof That is Not Reflected in the Above Documents In case of Self Employed or Professional (All the following) Last 2 Year’s Income Tax Returns Last 2 Year’s Certified Financial Statements or Provisional Financial Statements Duly Certified by CA Proof Of Office (any one of the following, Lease Deed, Utility Bill, Title Deed, etc.) Any Other Income Proof That is Not Reflected in the Above Documents
References	Two References Details – Name, Email, Mobile Number and Address
If, Collateral - Immovable Property (Flat, House, Non-Agriculture Land) (All the Relevant Documents from the Following List)	Property Title Deed 7 / 12 extracts in case of land Registered Sale Agreement Along With Society Share Certificate Original Registration receipt for the above agreement Allotment Letter By Municipal Corporation / Authorized Govt. Authority Like MHADA, CIDCO, etc. Please add HUDA, DDA, JDA, GIDC etc Previous Chain of Sale Deed establishing title Latest Maintenance bill alongwith Receipts issued by builder/ society, Latest Property tax bill alongwith receipts, NOC for mortgage from society/builder, Approved building plan Encumbrance certificates as on date etc

Type

Documents Required

Co-Applicant Documents

PAN, Aadhaar Card
Last 6 Months Bank Statements of Co-Applicant

In case of Salaried Employee (All the following)

Latest 3 Salary Slips or Salary Certificate on Employer’s Letterhead
Last 1 Year’s Form 16 from Employer or Last 1 Year’s Income Tax Returns
Any Other Income Proof That is Not Reflected in the Above Documents

In case of Self Employed or Professional (All the following)

Last 2 Year’s Income Tax Returns
Last 2 Year’s Certified Financial Statements or Provisional Financial Statements Duly Certified by CA
Proof Of Office (any one of the following, Lease Deed, Utility Bill, Title Deed, etc.)
Any Other Income Proof That is Not Reflected in the Above Documents

References

Two References Details – Name, Email, Mobile Number and Address

If, Collateral - Immovable Property (Flat, House, Non-Agriculture Land) (All the Relevant Documents from the Following List)

Property Title Deed
7 / 12 extracts in case of land
Registered Sale Agreement Along With Society Share Certificate
Original Registration receipt for the above agreement
Allotment Letter By Municipal Corporation / Authorized Govt. Authority Like MHADA, CIDCO, etc. Please add HUDA, DDA, JDA, GIDC etc
Previous Chain of Sale Deed establishing title
Latest Maintenance bill alongwith Receipts issued by builder/ society,
Latest Property tax bill alongwith receipts,
NOC for mortgage from society/builder,
Approved building plan
Encumbrance certificates as on date etc

Education Loan Repayment for Incred Bank

Minimum loan repayment tenure – 12 months
Maximum loan repayment tenure – 180 months (including the course duration)
We also offer a grace period of 12 months from the time you complete the course or a grace period of 3 months from the time you secure your first job.

Loan Amount: 1600000

Interest Rate (%): 15

Loan Duration (years): 10

Course Duration (months): 36

Grace Period (months): 0

Loan Details

Monthly EMI: 0

Principal Amount: 0

Total Interest: 0

Total Amount: 0

What our Students say about us

Leela Krishna

2023-11-19

To be honest this is a good consultancy for who are looking to get loan to pursue your masters abroad, their way of handling clients is excellent. It only took me 2 days for a bank to reach me out regarding my loan and the whole process took me around a week. I’d recommend this to anyone who are gonna look for education loans.

Swathi Tammavarapu

2023-11-16

It's a good platform to get easy educational loans.The services is good 👍

Bharathi Ragala