StudySahara Logo StudySahara

InCred Finance Education Loan

Pursue your dreams with InCred’s education loans, offering up to ₹80 lakh unsecured and rates starting at 11.50% p.a.

InCred Finance Logo

Overview

InCred Finance, a leading NBFC, offers education loans for students pursuing higher education in India and abroad. With loans up to ₹80 lakh unsecured and ₹1.5 crore secured, InCred covers 100% of education costs at competitive rates starting at 11.50% p.a.

Key Features & Benefits

  • ✔Loan Amount: Up to ₹80 lakh unsecured; ₹1.5 crore secured.
  • ✔Moratorium: Course duration + 6–12 months.
  • ✔Repayment Tenure: Up to 15 years.
  • ✔No Margin: 100% financing of education costs.
  • ✔Rates: 11.50%–14.00% p.a., concessions for top profiles.
  • ✔No Prepayment Penalty: Foreclose or prepay without charges.
  • ✔Online Process: Quick sanctions in 2–4 days.

Eligibility Criteria

Student:

  • •Indian citizen (or NRI/OCI/PIO with conditions).
  • •Secured admission to a recognized institution.
  • •Completed 10+2 with strong academics.
  • •Age 21–32 years; qualified GRE/GMAT/TOEFL/IELTS (for abroad).

Co-applicant:

  • •Mandatory (parent, spouse, guardian).
  • •Indian citizen with steady income, CIBIL score ≥625.

Documents Required

Student:

  • •Admission letter or proof of application.
  • •Academic records (10th, 12th, graduation).
  • •KYC (Aadhaar, PAN, Passport).
  • •Course fee structure, visa, test scores (GRE/GMAT/TOEFL/IELTS).

Co-applicant:

  • •KYC (Aadhaar, PAN, Passport).
  • •Income proof (3 months’ salary slips, 2 years’ ITR, 6 months’ bank statements).
  • •Credit report, notarized affidavit.

Other:

  • •Loan application form.
  • •Proof of funds (if partial funding), collateral documents (for secured loans).

Interest Rates & Charges

InCred Finance offers competitive interest rates with concessions for strong profiles and no prepayment penalties.

Loan Type Interest Rate (p.a.)* Processing Fee Collateral
Domestic (unsecured, up to ₹80 lakh) 11.75%–14.00% 0.75%–1.5% + GST Not required
Abroad (unsecured, up to ₹80 lakh) 11.75%–13.75% 0.75%–1.5% + GST Not required
Abroad (secured, up to ₹1.5 crore) 11.50%–13.00% 0.75%–1.5% + GST Required

*Rates vary based on profile, course, and institute. Contact InCred for exact rates.

Application Process

  1. Submit Inquiry: Fill out our quick online form.
  2. Expert Guidance: Connect with our loan advisor for InCred options.
  3. Document Prep: Gather documents with our assistance.
  4. Application: Apply online via InCred website, app, or partners, or offline at branches.
  5. Disbursal: Funds released post-approval, typically in 2–4 days.

Frequently Asked Questions