Planning to study abroad for higher education is one of the most beneficial options for all students from a career perspective. Nowadays, several students are planning to move abroad to pursue their PGDM (Post Graduate Diploma). It is the dream of students to study abroad and obtain an international degree. But sometimes moving abroad is not everyone’s cup of tea because money is the biggest problem for students, which stops them from fulfilling their dreams.
Is a personal loan beneficial for students? Well, yes, a personal loan for students is beneficial to fulfill their dreams with the help of personal loan for students. The interest rate on a personal loan is quite low compared to other loans. For more information on how to get an instant personal loan, let’s have a look at the points below in brief.
Documents Required for a Personal Loan for Students
Before applying for a personal loan from a bank or financial lender make sure that prepare all the relevant documents as per guideline from the RBI (Reserve Bank of India) because documents are the necessary step to follow and provide them to bank to get an instant personal loan for students such as:
- Proof of identity: passport, driving license, voter ID/PAN card (submit any one)
- Proof of residence: electricity bill (Less than 3 months old) or passport
- Latest 3 months bank statement (Passbook for previous 6 months).
- Latest salary slips for 3 months.
- 2 passport-size photographs.
What are the Eligibility Criteria for Personal Loan for Students?
For instant personal loan online, follow below steps:
- Identity proof (copy of passport, Aadhar card, Driving License).
- A good credit score above 700 is essential to getting a quick loan.
- To get a personal loan, you must be between the ages of 21 and 60.
- Make sure to provide all the documents for a personal loan.
- Latest salary slips for the last 3 months and bank statements.
The Benefits of Taking a Personal Loan for Students.
Credit score: You don’t need a very high credit score to obtain this personal loan for students. The credit score for a student personal loan requires more than 750.
No need for collateral: The personal loan for students is easy to get because there is no need to submit property or jewellery to get this loan. Get a personal loan for students without any collateral and fulfil your dream of studying abroad or in India.
Get a high loan amount: The personal loan for students is easy to get to pay their fees, whether they are studying in India or abroad. You will get this loan amount directly into your bank account without any collateral.
Flexible tenure of repayment: You can choose the tenure of the loan repayment amount; this flexible loan tenure means a person can easily repay the loan amount with an easy EMI option.
Fast disbursal of loan amount: After applying on our official website, our executives will verify the entire application and provide instant money directly into your bank account in a few hours at a low interest rate.
Minimal Documentation: The personal loan student’s loan application process is completely hassle-free for the loan borrower. A personal loan is an unsecured loan, and the documentation required, such as Identity proof, Address proof, income proof, employment proof, etc.
Conclusion
A personal loan for students in India will be an advantage in their career, especially in education. Apply for a personal loan with us at a low interest rate to fulfil all your dreams of studying abroad. The above information is beneficial for you if you are looking for a personal loan for students. Also, the interest rate of a personal loan is quite low compared to other loan options, and several people are willing to apply for this loan to send their children abroad for higher studies.
Disclaimers
The information provided in this blog is for informational purposes only and should not be considered financial or legal advice. Loan terms, interest rates, and eligibility criteria may vary based on the lender’s policies. Readers are advised to verify details with financial institutions before making any decisions. We do not guarantee loan approval or endorse any specific lender.
