Education has no limits. Every individual, irrespective of age, gender, and profession, has the right to gain an education at the best educational institute. If you aspire to join a course of your choice in the best institutions across the globe, don’t let lack of funds hold you back. Apply for a personal loan for education and achieve your goals without worrying about the finances.
Now that you have made up your mind to take out a personal loan and follow your dreams, here are a few things you must look for in the lender you select.
Loan Amount
Give attention to the loan amount the lender may provide as a personal loan. The loan amount sanctioned to you depends on your income, eligibility, credit score, and other conditions. But you must know what is the maximum loan amount the lender may offer.
Freedom of Use
Choose a lender that does not pose any restrictions on how you use your loan amount. Whether you want to pay for your education fees, accommodation, travel, or meals, the lender should not ask any questions about how you used the sanctioned loan amount.
Eligibility Criteria
Every lender has differences in eligibility conditions to approve a personal loan for education. For instance, Clix Capital has the following conditions that you must meet:
- 25 to 58 years of age
- Salaried job of at least ₹ 25,000 per month
- Working with the current employer for at least 6 months, and total work experience of at least 12 months
You must not apply for a loan without going through the lender’s eligibility conditions. If you are not eligible, they will reject your loan application straight away and your credit score will be reduced due to your ignorance.
Documentation Requirements
Even if a lender claims to offer document-free loans, they still need some necessary documents to verify your identity and income. For instance, Clix Capital has minimal documentation requirements including the following:
- Duly filled online application form
- Recent passport size photograph
- Identity proof like Aadhaar card or Pan card, or government ID for government employees
- Address proof like Aadhaar card, voter ID, passport, driving license, etc.
- Income proof, including your last month’s payslip or current year’s Form 16
These days, many lenders accept online verification of documents, which means you do not need to submit or upload your paper anywhere. The entire verification process is done online from the comfort of your home and takes only a few minutes. Prefer a lender with such a facility.
Repayment Tenure
Before you apply for a personal loan for education, check if the lender is flexible with the repayment tenure or not. Lenders like Clix Capital can offer you a loan of up to ₹ 25 lakhs, which you can repay in 12 to 48 months of the loan term. You can use the personal loan EMI calculator, select the EMIs you are comfortable with, and choose an appropriate loan tenure as per your repayment capacity.
Loan Application and Approval Process
Make sure that the loan application and approval process are as easy as pie. At Clix Capital, you just need to fill out an online application form here and provide some required details. Once done, just sit back and relax and you may get your loan approval within 15 minutes*.
Looking forward to getting an education at a top college or institute? Get the required funding from Clix Capital and move forward. Apply for a personal loan for education now and fulfil your dream of studying at your desired institute.
For any queries, find us on Facebook, Instagram, LinkedIn, Twitter, or WhatsApp
You can also reach out to us at hello@clix.capital or call us at 1800 200 9898
* T & C Apply
