Money Finance
Bangalore 560022 moneyfinanceservice@gmail.com

Office Address

  • No 1503 40/41 MKK Road 11th C Cross 1st Floor Bangalore - 560022
  • moneyfinanceservice@gmail.com
  • +917022573176

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Our Features

Education Loan

Pre Admission Sanction

Maximum Loan Repayment Tenure

Tax Benefit U/s 80 (E)

Quick and Easy Application Process

Explore Education Loans with Money Finance Service

At Money Finance Service, we understand the importance of higher education in shaping futures. Our education loan offerings are designed to support students in pursuing their academic aspirations by providing financial assistance for tuition fees, living expenses, and other educational needs. We strive to make higher education accessible through flexible terms and competitive rates, ensuring that students can focus on their studies without financial worries. Trust Money Finance Service to be your partner in achieving educational success.
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Features Of Education Loan

Grace Period for Repayment

Typically, repayment begins after the course is completed, allowing students time to secure employment.

Option for Co-borrower

Parents or guardians can co-sign the loan to increase eligibility.

Flexible Loan Options

Loans are available for a wide range of courses and institutions, both in India and abroad, with varying requirements for collateral depending on the loan amount.

Tax Benefits

Interest paid during repayment may qualify for tax deductions under Section 80E of the Income Tax Act.

Eligibility Criteria for Education Loans

  • Age Criteria : Lenders typically set age requirements, often requiring applicants to be 18 or older.
  • Program Specificity : Education loans are linked to specific programs and institutions approved by lenders.
  • Admission Proof : Proof of admission to an eligible educational institution is usually required for loan approval.
  • Academic Performance : Some lenders consider previous academic achievements, like grades, in their eligibility criteria.
  • Co-borrower/Guarantor : For applicants with limited credit or income, a co-borrower (often a parent) may be required to share repayment responsibility.
  • Credit History : Strong credit histories for both the student and co-borrower/guarantor can enhance loan approval chances.
  • Financial Assessment : Lenders may assess your ability to repay based on your income or your co-borrower's income.
  • Loan Amount Limits : Lenders often impose maximum loan amounts based on program costs and other factors.
  • Collateral Requirement : Larger loan amounts may require collateral, such as property or investments.
  • Documentation : Applicants typically need to provide identity proof, admission confirmation, income details, and other required documents.

Documents required to apply for Education Loan

Income Proof for Salaried Co-applicant/Guarantor
Documentation showing earnings and employment status for a co-applicant or guarantor who is employed by a company or organization.
Co-applicant/Guarantor
A person (often a parent or guardian) who co-signs the loan agreement with the student, sharing financial responsibility for repayment.
Income Proof for Self-employed Co-applicant/Guarantor
Documentation demonstrating income and business details for a co-applicant or guarantor who is self-employed or owns a business.
Student Applicant
The student applicant is the primary borrower seeking an education loan to cover tuition fees and related expenses during their course of study. They are responsible for meeting lender eligibility criteria and repaying the loan post-graduation.

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