Education and its growing importance, benefits of education abroad, global exposure and opportunities have led to many students in the India to continue studies abroad. India is one of the most populated countries, when it comes to students flying overseas for their further studies. However, despite all these benefits, the financial backup remains a major obstacle for many would-be students who want to go abroad for higher studies.
For students to feed their dreams with the financial support of the Government of the India, banks in the private sector and the NBFC have come with varied choices of loans of study that help students financially. The loan from friends or family moneyfrom would lose the relationship if it is not paid on time. In addition, traditional lenders are too costly in terms of interest rates and processing fee. Therefore, any student and their parents would choose a respectable choice of place to take it borrowed from a bank or NBFC, which makes it sufficiently independent student! (Easy loan)
On the other hand, getting a student loan of NBFC also implies great advantages compared to conventional forms of borrowing from relatives, friends or lenders.
The benefits include,
• easy loan application: finding a loan and choose the most suitable is a hectic and confusing task to make it suitable for students of these NBFC provide door step service and consultation to help students choose the right study loan loan.
• Coverage of 100% of the loan: provide a full coverage of the amount of the loan, which also covers the living expenses, including the purchase of books, computers and other essential expenses, as well as the travel costs. (Easy loan)
• There is room for money: money margin refers to the amount that a student has to pay out of their end, while the rest is paid by the Bank, but the few leading NFBCs do not charge money apart from students seeking loans for education to make them focus on studies and release this load of students.
• Low interest rate: charge an interest rate as low as 12.75 percent, which is quite low compared to conventional lending options.
• Flexible depreciation: a student get flexible payment options such that he or she can pay for the course, as well as after the completion of the course.
• Provides a test prerequisite of funds: before the admission of the student loan helps a student to ensure your admission provided the Institute or the University a “proof of funds’ to cover the fees and expenses of maintenance.”
• loan of individualized education plans: NBFC, a student has an advantage of borrowing money from education in a way that is customized from the options of student loans provided by them.
• benefits based score: some of NBFC provide special benefits to deserving students who work hard and earn a good score of GRE of 300 or more, thus helping young students who work hard to get a place in the best university or Institute.
• No amount Cap: NBFC have a quantity limit in the amount of the loan study sanctioned and structured on the basis of the student’s need and the type of course enrolled for.