Unless you have a large family inheritance or have hit the jackpot, there is every likelihood that you would at some point of your life, require a personal loan. For most parents, there are times when there is no option but to avail a personal loan to fund many needs. Parents know that without money, it is hard to pay for their childrens college fee, fund their travel overseas or pay for unforeseen emergencies. However, there are occasions when a personal loan for higher studies is a wise decision for their wards. The advantages of a personal loan taken for higher studies is that one gets cash when it is most needed and that too at affordable interest rates. Today, a loan for higher studies is widely gaining prominence and can be used for a variety of reasons like tuition, cost of books, accommodation and travel abroad.
Demand for Higher Study Loans
With increasing prosperity In India and rising aspirations, many families in India have opted for a foreign university education for their children. A personal loan for higher studies is more versatile and requires less documentation (for example, no need to offer letter and LORs etc from universities), can be used for a variety of courses that a traditional education loan might not support for example, baking courses, sports academy, etc. There are schools abroad in Europe, US and Australia among others that require an exorbitant amount of application fee and if you get selected, that fee serves as your tuition but if you don’t get in, that money is spent either way. A traditional educational loan, therefore, does not work in this scenario, but a personal loan might.
As a result many NBFCs including Indiabulls Ventures Ltd through its flagship product Indiabulls Dhani have come up with loans for higher education with attractive rates of interest. IB Dhani gives personal loan of up to ₹15 lakh at 11.99%. A personal loan for higher studies is applicable for both study in India and abroad.
Instant Personal Loans
If the insufficiency of funds is the reason you are pushing your dreams away to study abroad or in a prestigious university in India, personal loans for education purposes are here to take care of that! Today, with the option to apply online, personal loans are easily and instantly available. The best part is that personal loans are unsecured loans, that is, there is no collateral required like a security against the loan. They are available quite easily.
Indiabulls Dhani, has been designed to make your personal financial needs easier than ever before and is a first of its kind by Indiabulls Ventures. It offers you personal loans instantly, in a few steps. By downloading the Indiabulls Dhani app or using the web version, you can now get your personal loan for educational purposes anytime and anywhere with 3 simple steps in just 3 minutes:
STEP I – Enter your loan amount.
STEP II – Submit your Aadhaar number.
STEP III – Receive the money directly in your bank account immediately.
With Indiabulls Dhani, you can get personal loan without paperless documentation or any hassle.
How to calculate your EMI using Calculator?
All you need to do is enter the following amounts to find the answers you need:
- Principal Amount (Loan amount you require)
- Interest Rate
- Tenure of the Personal Loan
With the personal loan online EMI calculator, you get a customized solution showing the EMI details, monthly break-up of the interest rates, principal amount, etc. with a diagrammatic depiction of the future payments.
If you find the interest rates and EMI amount to be higher or lower than what you want to pay,you simply have to edit the principal amount and restart.