Loan Margin: NIL
Processing Fees: 1.0% to 1.5% of Loan Amount
Features Of Credenc Abroad Education Loan
|Features||Education Loan Details|
|Loan amount||Upto ₹1Cr (Collateral)
Upto ₹50Lac (Without Collateral)
|Interest rate||The university of choice, the course, the destination country, GRE scores, overall academic excellence, the student's job experience, loan tenure, and other factors all have an influence on the Credenc education loan interest rate. The interest rate varies from 11% to 14% for a Credenc Education Loan depending on the course and country chosen by the applicant.|
|Processing fee||1.0% to 1.5%|
|Processing time||2 Working Days|
|Loan tenure||12 Years|
|Countries covered||USA, Canada, UK, France, New Zealand, Australia, Germany and others|
Benefits of Credenc Abroad Education Loan
A Complete Digital Process
Quick Loan Approval
No Collateral Required
Competitive Interest Rates
Benefits Of Getting Your Credenc Abroad Education Loan Through Wecare Capital
Higher Chance Of Approval
By applying for your education loan through Wecare Capital, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With Wecare Capital, we will immediately reach out to Credenc officials and find the best solution.
Online Submission Of Documents
With Wecare Capital, you can submit all the required documents from home! There won’t be any need to visit the branch. Simply head over to our website and submit all the documents there. There won’t be a possibility of not submitting an essential document, as our system is designed to ensure all essential documents required For a Credenc Student Loan are submitted. You also get stepwise updates via notifications.
No Cost To You
Eligibility Criteria For Credenc Abroad Education Loan
- The applicant must be an Indian national.
- Students seeking admission to master’s programmes must have completed a three-year graduate degree in any field. Several Indian master’s degrees, such as the M.A. and M.Sc., are also approved for postgraduate enrollment. He or she should also have a legitimate scorecard (GRE, GMAT, TOEFL, IELTS, etc).
- According to RBI standards, there is no upper age limit for applicants, but some banks may impose one. As a result, the candidate must be between the ages of 16 and 35.
|Eligibility For Credenc Education Loan||1. An applicant should be between the age of 17-35 years to apply for Credenc Education Loan|
2. The applicant should be an Indian Citizen or Overseas Citizen of India (OCI)/Person of Indian Origin PIO Card Holder
3. An applicant’s co-borrower can be a parent, sibling, spouse, uncle, aunt, or any other blood relative
|Eligible Countries for Credenc Student Loan||The eligible countries for Crendenc student loans are listed below. These are the prime destinations where students choose to study abroad. Check them out!
5. New Zealand
7. Germany and more
Documents Required for Credenc Abroad Education Loan
|For Students||1. Pan Card / Aadhar Card|
2. ID Proof
3. Proof of Address
4. Academic documents such as mark sheets, certificates of 12th exam, and certificates of Subsequent Years of Education e.g. BE, B. Com, and BSc.
5. Proof of Admission
|For Co-applicant||Pan Card / Aadhar Card|
Proof of Address
|If salaried||1. 3 months' latest salary slips|
2. 6 months' latest salary account statements
3. 1-year latest Form 16 or ITR
|If self-employed||1. Relationship proof (with the applicant)|
2. Business proof (GST certificate, or Business registration copy)
3. 2 years latest ITR with computation
4. 6 months saving account statement & current account (if the person has one)
5. Contact details
6. Ownership proof (address verification)
|For Parents||1. Identity Proof (Pan card, or Aadhar card) |
2. Contact details
Loan Repayment For Credenc
- Whether you accept an Indian or overseas education, the repayment period is fixed at 15 years from the onset of repayment.
- Education loan payments typically begin one year after the completion of the six-month term after employment, whichever comes first.
- The loan’s first instalment will be paid, and interest repayment will begin immediately.
How To Apply For Credenc Abroad Education Loan?
- Once you’ve verified your eligibility, you may start your application. Students can apply online or request a call from one of our expert student loan consultants.
- Our skilled counsellors can help you get a Leap Finance loan. Prior to submitting the form, our counsellors will thoroughly review your profile depending on your eligibility.
- Wecare Capital lets students submit documents online, eliminating the need to submit your documents at the bank and allowing you to do so from the comfort of your own home.
- Furthermore, Wecare Capital provides you with a customised set of documents depending on your profile and the loan you’ve applied for in order to expedite the process.
- Once the documentation and application are verified to be free of errors, the loan is accepted and ready for sanction.
- After obtaining the permission letter, the student and co-applicant must execute the loan agreement within the 6-month validity term of the sanctioning letter.
- After signing an agreement, the student is authorised to receive loan payments.
- Wecare Capital ensure that the lender will then deposit the funds into your bank account or into the university’s account.