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Instant Personal Loan for Education
Posted on Monday, February 20th, 2023 | By IndusInd Bank
Do you plan on pursuing higher education? Are you confused about whether to take an education loan or a personal loan? If yes, then you’re at just the right place. Pursuing higher education requires a big financial commitment and there are various miscellaneous expenses that are not covered under the education loan. Moreover, the margin of self-funding and the requirement of collateral in an education loan are one of the biggest factors affecting its accessibility.
A personal loan, on the other hand, is a smart choice as it comes with no usage restrictions and can easily cater to all your higher education requirements.
IndusInd Bank Personal Loan is one such unique offering that comes with unmatched degree of flexibility to serve all your higher education needs.
Let’s take a few instances where an IndusInd Bank Personal Loan has an edge over the education Loan.
IndusInd Bank Personal Loan vs Education Loan for Higher Studies
1. Accommodation
When it comes to pursuing higher education, there might come a challenge wherein you need to relocate and settle away from home. With IndusInd Bank Personal Loan, you can easily manage your accommodation expenses which are not covered under the education loan.
2. Study Material
Apart from the tuition fee, you might need additional supplemental guides to ace your examinations. For such miscellaneous expenses, an education loan does not offer any coverage. On the other hand, you can use IndusInd Bank Personal Loan for education for almost anything and everything.
3. Living Expenses
Another big challenge that comes when you’re pursuing higher education away from home is of living expenses. From groceries to utility bills, no such expenses are covered under the education loan. However, if you take an IndusInd Bank Personal Loan, you are in charge of how and where you wish to spend your money.
4. Visa and Flights
Studying abroad is a dream of many of us, but apart from hefty international tuition fees, flight tickets and visa fees alone are just enough to make a hole in your pocket. Therefore, for all such expenses, you can always use an IndusInd Bank Personal Loan and travel abroad without any hassle.
5. Emergency Fund
Given the uncertain nature of life, during your higher studies, you might land in a situation wherein you need emergency funds instantly. For all such dire situations, you can always count on an IndusInd Bank Personal Loan to have your back.
As you now know why picking an IndusInd Bank Personal Loan over Education Loan is a wiser choice, let’s know more about IndusInd Bank Personal Loan.
Features of IndusInd Bank Personal Loan
- 100% digital application process
- Instant approval
- Quick disbursal
- No collateral or guarantor requirement
- Zero processing fee*
- Best-in-class interest rate
- Loan amount ranging from ₹30,000 to ₹5 lakh
- Flexible repayment tenure ranging from 12 to 48 months
*Limited period offer
Seems perfect, right? Now, let’s get to know how you can apply for it and get your money instantly.
Apply Online for IndusInd Bank Personal Loan
Applying for an IndusInd Bank Personal Loan is a simple 4-step process mentioned below.
- Visit the IndusInd Bank Personal Loan page
- Click on the ‘Apply Now’ button
- Enter personal details and loan requirement
- Check your loan offer, complete Video KYC and digitally sign the loan contract
As soon as you’re done with the online application, funds will be quickly disbursed into your bank account for use.
Bonus Tip
Keep your PAN card and AADHAAR number handy before starting the online application. And most importantly, before signing the loan contract, please read all the associated terms & conditions thoroughly.
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
