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Here's how you can get the best education loan in India

Education loans help students by offering them financial assistance for the costs of higher studies in India or abroad. But with so many financial institutions and banks providing education loans to students, borrowers need to compare loans to get the best terms.

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Here's how you can get the best education loan in India

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  1. Here’s how you should compare education loans in India

  2. I. Introduction II. Rate of interest III. Fees charged by the lenders IV. Moratorium period V. Expenses covered VI. Customer service VII. Social Links Presentation Outline :-

  3. Education loans help students by offering them financial assistance for the costs of higher studies in India or abroad. But with so many financial institutions and banks providing education loans to students, borrowers need to compare loans to get the best terms. In that context, here is how students should compare education loans in India. INTRODUCTION

  4. Interest rates usually vary among different loan providers. These rates may either be fixed or varied, based on the lender. Even a minor difference in the interest rate can help you save a lot of money. This is why it is important to shop for interest rates and select the lender who offers an education loan at the most affordable rate. You can also use an education loan EMI calculator to understand how the interest rate impacts your monthly installments. Rate of interest

  5. Every lender charges different fees before sanctioning your loan amount. These fees could include a loan processing fee, stamping charges, collection charges, documentation charges, GST, and so on. All these fees add up to the total cost of the loan, which can make the procedure of availing education loans in India expensive. This is why it is important to look for loan providers that offer loans at affordable charges. Doing so will help you save a lot of money and reduce your overall loan amount. Fees charged by the lenders

  6. Lenders usually offer a grace period to students so that they can find a job and become financially stable before their monthly EMIs start. This period begins after the completion of the course period and lasts for about 6 to 12 months depending on the lender. The EMIs does not start until the end of the moratorium period which acts as a great help for students who don’t get a job immediately after their course is completed. Make sure to analyze different lenders on these criteria. Additionally, do go through the terms and conditions related to the moratorium period. Moratorium period

  7. Education loans in India cover almost 90% of the expenses incurred throughout the course period. These costs may include tuition fees as well as other overhead expenses. These expenses include laboratory fees, hostel fees, library fees, transportation fees, food fees, study visits, and tour fees, project expenses, laptop, and so on. Some of the education loans also cover air travel and visa expenses in case the student is going abroad to study. It is advisable for students to check in advance if their chosen lender will cover the required expenses or not to avoid any future inconveniences. Expenses covered

  8. A lender that offers good customer service will always be a priority for students. Flexible and direct customer assistance plays an important role in one’s experience of taking student loans. To have a good customer experience, read online reviews about the lender’s reputation. Select a loan provider that has a lot of happy customers. Customer service Related Blog:- Points to consider while comparing educational loans!

  9. Facebook:- https://www.facebook.com/AvanseEducationLoan/ Twitter:- https://twitter.com/avanseeduloan YouTube:- https://www.youtube.com/channel/UCcsuUx1EH1C08XmX2embpug Instagram:- https://www.instagram.com/avansefinancialservices/ SOCIAL LINKS

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