NBFCs
InCred
InCred Education Loan
Typical processing: Login to Decision is 48 working hours, Decision to disbursement is 7 working days
Check InCred eligibilityNBFC quotes move with the profile. Section 80E applies only if the lender is notified.
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 |
|
| 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 |
|
| For Secured / Collateral Loan | The following types of collateral are accepted
|
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?
- Scan the QR Code to apply
- Higher Chance Of Approval
- Online Submission Of Documents
- No Cost To You
- Quicker Sanctions
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 |
In case of Salaried Employee (All the following)
In case of Self Employed or Professional (All the following)
|
| 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) |
|
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.