Loan Margin: NIL
Processing Fees: 0.75% to 1.25% of Loan Amount
Features Of InCred Abroad Education Loan
|Features||Education Loan Details|
|Loan amount||Upto ₹1Cr (Collateral)
Upto ₹65Lac (Without Collateral)
|Processing fee||0.75% to 1.25%|
|Processing time||Login to Decision is 48 working hours, Decision to disbursement is 7 working days|
|Loan tenure||15 Years|
|Prepayment charges||No charges after six months from first disbursement|
|Repayment holiday||Partial/ SI/EMI. Partial Interest amount can go as low as INR 4k per month(Exceptions case by case)|
|Countries covered||USA, Canada, UK, Ireland, New Zealand, Australia, Germany and others|
|Payment study period||Simple Interest or Partial Simple Interest, depending on the student’s profile and the target course.|
Benefits of InCred Abroad Education Loan
Up To 100% Finance
Flexible Repayment Options
Make use of the repayment choices available with InCred Education Loan, which allows loans to be tailored to the needs of the consumer. If you have any particular criteria for your education loan, please contact Wecare Capital, and we will pass them to the InCred team, who will then give you the best options that match your needs.
No Margin Money
Customised Education Loan Solutions
Online Account Management
Benefits Of Getting Your InCred 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 InCred officials and find the best solution.
With Wecare Capital, there’s no need to visit the branch to submit your documents. Simply visit the Wecare Capital website and upload your documents from the comfort of your home. You can also enjoy step-wise updates via notifications.
No Cost To You
Eligibility Criteria For InCred Abroad Education Loan
|Eligibility For An Incred Abroad Education Loan||For the borrower & co-borrower -
1. Indian citizens/Indian passport holders who are currently registered or are planning to enroll in a qualified course can apply.
2. The co-borrower should also be an Indian national or passport holder.
3. Non-resident Indians (NRIs) with an Indian passport or with a card from Overseas Citizens of India (OCI) or Persons of Indian Origin (PIO) are also entitled to apply to InCred for an education loan. Such special requirements are expected to be fulfilled on a case-specific basis for certain applicants and co-borrowers.
|Eligible Courses||You are eligible for the InCred loan if you’re undertaking any of the following courses:
1. Undergraduate programmes (bachelor degrees)
2. Postgraduate studies (masters degree)
3. Doctoral-level programmes
4. Certificate and diploma programmes
InCred provides financing for any disciplines and courses that have been approved by the relevant regulatory organisations.
|Eligible Countries||Currently, InCred offers financing alternatives in the USA and Canada. Loan applications for other locations will be processed based on the programme and course.|
Documents Required for InCred Abroad Education Loan
Wecare Capital supplies you with a personalised document list for an InCred Education Loan based on your profile, the profile of your co-applicant, and any property/asset you may present as collateral. However, the following documents will be required at a higher level:
Past Academic Record
|Co-Applicants||Identity Proof |
Loan Repayment For InCred
How To Apply For InCred Abroad Education Loan?
Apply Online & Upload Your Documents :
- After you’ve determined your eligibility, you may apply online or contact one of our experienced education loan counsellors and request a callback. Depending on your needs, our skilled counsellors can help you secure an InCred education loan with or without collateral.
- Once you’ve provided your profile data, our specialists will thoroughly examine your profile and, based on your eligibility, propose the next set of steps to you.
- Wecare Capital allows students to upload documents online, saving you the inconvenience of presenting your documents at the bank and allowing you to do it from the comfort of your own home.
- Furthermore, to expedite the process, Wecare Capital provides you with a customised list of documents to submit depending on your profile and the loan that you’ve applied for.
Processing and Approval:
- You can send your loan application and accompanying paperwork to InCred for evaluation and real-time approval once you’ve uploaded/submitted the necessary documents.
- Wecare Capital will connect with InCred on a regular basis in order to establish the progress of your application and ensure that it is handled as soon as feasible. Our website will keep you updated on the latest developments if any.
- Applicants should be aware that the lender may contact them at this time to request more paperwork in support of their loan application. Wecare Capital will be sending these specific requirements to applicants. If an unreasonable demand is made, we will send it to the appropriate InCred authorities.
- Once the documentation and application are confirmed to be free of errors or additional loopholes, the loan is accepted and ready for sanction.
Loan Sanction And Disbursal:
- After your loan is approved, you must pay the processing fees in order to acquire the sanction letter.
- Following receipt of the sanction letter, the student and co-applicant must complete the loan agreement within the validity period of the sanction letter, which is six months.
- The student is eligible for loan disbursement after signing the agreement.
- The lender will deposit the required sum of money into your bank account or university/account. We talk with the InCred team and get it done if the student requires disbursement prior to the visa as per the visa office’s guidelines.
- Wecare Capital will also guarantee that disbursements are completed on time, and students can contact Wecare Capital at any time during the loan’s term.