Education Loans in Mumbai

Whether you wish to pursue higher studies abroad or aim to secure an admission in top colleges and universities in Mumbai, the first question apart from the entrance exams is the finance… Studying in high-end colleges or universities requires capital that most students can’t afford. An education loan is an answer for all your worries regarding tuition fees of best-in-class educational institutions.

Almost all banks and financial institutes in Mumbai provide Education Loans. However, availing one is not so easy. This is where SheejiLending comes in. We enable aspiring students to avail education loans in Mumbai at best interest rates. We ensure that your loan amount is disbursed instantly so that you can concentrate on your studies.

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Looking for Education Loan in Mumbai?

Mumbai the Financial Capital City of India is also a home to several big institutes like National Institute of Industrial Engineering (NIIE), Amity University and more.

People come from various corners of the country to seek the best education in this city of dreams.

Shreeji Lending has customized Loan solutions for such aspiring students who are looking forward to fulfilling their dream of getting admissions in these top-notch institutes and create a solid career and raise the standard of living.

Features of Education Loan in Mumbai

Loan Amount

The education loan amount in Mumbai starts from INR 50,000/- and goes up to INR 10 Lakhs for studies in India and goes up to INR 25 Lakhs for studies abroad. The education loan amount depends on various factors pertaining to the college/university and also on the expenses covered under the loan. The Bank’s or NBFC’s policies also determine the loan amount.

Repayment & Moratorium Period

Usually, the repayment period of education loans in Mumbai is pre-decided by the lending institution. The moratorium period starts anywhere from six months to twelve months from when you secure a job. However, both the repayment period and the moratorium period largely depend on the lending institution’s policies.

Security & Margin

Parents or guardians are the primary debtors in education loans as well as co-applicants. No margin is asked and no collateral is required in case the loan amount is up to INR 4 lakhs. However, as a security, the lender asks for collateral if the loan amount is above INR 4 lakhs. Likewise, the margin varies from bank to bank on an amount higher than INR 4 lakhs.

Eligible Courses

Education loans in Mumbai cover almost all mainstream and most sidestream courses including post-graduate as well as graduate courses. These include professional and technical courses offered by universities and colleges that are Government recognized and/or UGC approved as well as autonomous institutes such as IITs, IIMs, etc.

For education abroad, the professional graduate and post-graduate courses that are job-oriented are covered. The courses may vary from MBA to MS and such.

How to Apply for a Education Loan?

  1. Fill out the essential details in the form.
  2. Submit copies of the required documents.
  3. Submit the online application form for education loan.
  4. You will get a call from us to discuss your loan once we review your application.
how to apply

Eligibility for Education Loan

Document Required

  • Indian Citizenship
  • Secured at least 50% marks during HSC & Graduation
  • Who have obtained admission to career-oriented courses e.g. Medicine, Engineering, Management etc
  • Documents displaying regular income is mandatory for the co-applicant
  • KYC documents
  • Bank Statement / Pass Book of last 6 months
  • Optional – Guarantor Form
  • Copy of admission letter of the Institute along with fees schedule
  • Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses

Eligibility for Education Loan

  • Indian Citizenship
  • Secured at least 50% marks during HSC & Graduation
  • Who have obtained admission to career-oriented courses e.g. Medicine, Engineering, Management etc
  • Documents displaying regular income is mandatory for the co-applicant

Documents Required

  • KYC documents
  • Bank Statement / Pass Book of last 6 months
  • Optional – Guarantor Form
  • Copy of admission letter of the Institute along with fees schedule
  • Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses

Benefits Of Applying For An Education Loan In Mumbai With Shreeji Lending

Shreeji Lending is an education loan provider in Mumbai that help you avail instant education loans for studies in India and abroad. We help students from various technical and professional fields avail best education loans at lower interest rates. Our education loan application process is easy, hassle-free and online. Thus, you can apply for education loans from anywhere. Some of the benefits you get by applying for an education loan in Mumbai with Shreeji Lending are –

  • Higher loan amount
  • Quick disbursal
  • Hassle-free procedure
  • Minimal paperwork
  • Lower interest rates
  • Online application

FAQ About Education Loans

Most frequent questions and answers

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