Apply for Instant Loan

Download Our App

Apply for Instant Loan

Download Our App

Play Store

Apply for Instant Loan

Download Our App
Arrow Arrow

Can I Get Education Loan without Interest?

62566bc669a05_360x240-50.webp
First, no education loan comes without interest or zero interest. When it’s a personal loan, an interest rate is bound to follow. Education in India is expensive, and not every student can afford it. If you are planning for a higher study in a reputed institute, then be prepared to pull out the education cost throughout the course.

However, an education loan is a constrained loan. And there is so much analysis for students' loans from the lender's side. It requires specific paperwork like your academic records, collateral documents if taking a secured education loan by mortgaging an asset. Moreover, an unsecured education loan is a collateral-free loan, and therefore, the interest rate will be probably higher.

Taking an education loan supports basic educational expenses. But apart from educational costs, there are other expenses that students have to bear despite taking an education loan with low interest.  

Till date, there is no such scheme introduced for getting an education loan without any interest. But there are government schemes to provide a 1year moratorium period to the students.
 

What is the moratorium period in an education loan without interest?

 
The lender usually decides the moratorium period and is a grace period of 1 year from completing your course or 6 months from you joining a job. The borrower does not have to repay the lender during the moratorium period. Hence, it is impossible to get an education loan without any interest.
To Avail Personal Loan
Apply Now

What will be the education loan interest?

 
The education loan interest rate may vary from lender to lender. It can be higher as well as lower based on your credit ratings. As a result, a lender will not risk giving the loan to those borrowers who have low creditworthiness.

Moreover, a personal loan for education is a better option as the interest rate is lower and can use the money not only for education but also for other related expenses that are not related to education. Nowadays, the personal loan procedure is entirely digitized, and the required documents are minimal.

Besides, a personal loan for education provides more seamless features and benefits than an education loan without interest.

HeroFinCorp, an instant cash loan app a trusted non-banking financial company, offers an instant cash loan for education from Rs.50,000 up to Rs.1,50,000 at a very competitive interest rate. You can quickly get an instant personal loan for education with minimum eligibility criteria and documentation. 
 

Why HeroFinCorp instant personal loan for education?


The HeroFinCorp loan app is a user-friendly app when it comes to applying for an instant loan for education or any other reason. HeroFinCorp instant personal loan app can be downloaded anywhere and anytime. There is no restriction involved while applying for a personal loan for education.   You can use the money for not only paying off the fees but also for other miscellaneous expenses. The seamless features and benefits make HeroFinCorp an exceptional loan app.


Features and benefits of online instant personal loan for education

 
  • No Collateral is required in an unsecured personal loan for education
  • Affordable interest rate based on your profile
  • Real-time Instant approval 
  • Disbursal on the same day within a few working hours
  • Flexible tenure up to 24 months
  • The loan EMI calculator will help to plan instalments in advance
  • Paperless documentation like your AADHAR and PAN Card are mandatory documents
  • Simple Eligibility criteria include your age, income, six months bank statement, stable employment status, which should meet the lender’s requirement.


How to apply for a personal loan for education?


HeroFinCorp has servedlocations in and around India, along with disbursing 20K+


Let’s begin the simple journey for loan application via HeroFinCorp for education

 
  • Install the loan app via Google play store on your smartphone
  • Register your mobile number or email id
  • Next, customize your loan amount, tenure, and EMI on the loan EMI calculator
  • Fill out the application form with personal and professional details
  • Mention the purpose of the loan
  • Finally, the loan will get disbursed once your documents get verified and approved

Most importantly personal loan does not require the academic record of the student. With the above features, you can get a personal loan for education without any hassle.

To Avail Personal Loan
Apply Now
Did You Know

Disbursement

The act of paying out money for any kind of transaction is known as disbursement. From a lending perspective this usual implies the transfer of the loan amount to the borrower. It may cover paying to operate a business, dividend payments, cash outflow etc. So if disbursements are more than revenues, then cash flow of an entity is negative, and may indicate possible insolvency.

Exclusive deals

Subscribe to our newsletter and get exclusive deals you wont find anywhere else straight to your inbox!