Aadhaar Capital Education Loan: Obtaining a college degree is a costly endeavor these days. If your resources fall short, an education loan might help you support your child’s educational goals.
But don’t worry! Aadhaarcapital.co education loans can help you meet your child’s educational goals, especially if your funds are insufficient. Furthermore, if your child begins working, they can return the loan, relieving you of the load. Isn’t it a good deal?
So, what are the requirements for applying for an education loan? Is collateral required for an education loan? Do you require co-applicants? Are all costs covered? These are presumably the questions you have. Continue reading for the answers.
What is the Aadhaar Capital education loan used for?
Aadhar Capital education loans will cover tuition, test and library fees, book costs, lodging costs, travel expenses for abroad studies, equipment charges such as a laptop, and any other education-related expenditures.
Who is eligible for Aadhaarcapital.co Education Loan?
Any Indian national aged 18 to 35 who wishes to study any graduate/postgraduate/diploma/technical program. A co-applicant is required when applying for an education loan for courses in another country. A co-applicant might be the applicant’s parents, spouse, or sibling.
You can apply for a loan of up to Rs. 90 lakhs to study in India or abroad. The lending institution has complete control over the loan amount.
Education loans in India demand some collateral security depending on the loan amount. The best aspect of Aadhaar Capital is that no collateral is required here.
Documents necessary for student loans
- Admission letter from the relevant college or university
- A thorough breakdown of the course’s cost
- The loan application was completed, and KYC papers as verification of identity and address.
- Academic grade reports
- Student and parent/co-applicant PAN cards
- The co-Form applicant’s 16
- Because the parent or co-applicant will be recognized as the principal debtor, all documentation must be in order.
Section 80E of the IT Act allows for a maximum of eight years of tax reduction on interest paid on an education loan repayment. This deduction is available to persons who pay interest on behalf of themselves, their spouses, their children, or any student for whom they are the legal guardian.
Education loans are typically disbursed within 15 days and have interest rates of up to 9%, depending on the loan length, quantity, and institution. The length of service can be up to 20 years.
We hope that all of this information on college loans is useful. You can go to the Aadhaar Capital (aadhaarcapital.co) if you want financial support.