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Studying abroad is a dream for many students, offering a chance to experience world-class education and diverse cultures. However, the costs associated with overseas education can be quite high. A Personal Loan for abroad studies from Hero FinCorp can help manage these expenses effectively.
Personal loans for Abroad Studies are designed to cover not just tuition fees but also other associated costs like travel, housing, books, and day-to-day expenses. This comprehensive coverage helps students concentrate on their studies rather than worrying about finances. One major advantage of Personal Loans is that they usually don’t require collateral, which makes them more accessible to many students.
These loans often come with a competitive interest rate and flexible repayment tenures, making repayment easier. To apply, a minimum monthly income of Rs 15,000 is required. The process is simple, involves minimal paperwork, and offers instant approval in as little as 10 minutes, helping you manage your education-related expenses without stress.
Choosing a Personal Loan for Abroad Studies is not just about funding your education; it’s an investment in your future, opening up international career opportunities and broadening your options.
Personal loans for studying abroad offer ample loan amounts, attractive interest rates, collateral-free options, flexible repayment terms, and instant approvals. Let us have a look at the features and benefits of Personal loans for abroad studies:
You can get a Personal Loan of up to Rs 5 Lakh for various education-related expenses.
You can borrow a Personal Loan for studying abroad at attractive interest rates, starting from 1.58% per month.
Our Personal Loans are unsecured, so you do not need to provide any security or collateral to avail the loan.
Based on your budget, you can choose a repayment tenure of 12 to 36 for your Personal Loan for abroad studies.
You can get loan approval within 10 minutes when you apply for a Personal Loan for studying abroad online.
Understanding the eligibility requirements for a personal loan for studying abroad is essential. Hero FinCorp provides clear criteria to help students secure funding. Key eligibility factors include age, citizenship, work experience, and minimum monthly income. Meeting these criteria ensures a smoother application process and enhances your chances of approval.
You should be a citizen of India.
You must be between 21 to 58 years to be eligible for the loan.
Salaried individuals need 6 months; self-employed individuals need 2 years of experience.
The minimum monthly income required is Rs 15,000.
Whether you are a salaried individual or self-employed, understanding and gathering the documents required for a personal loan beforehand can simplify your application process and improve your chances for quick approval. Here, we provide a detailed list of the required documents for both salaried and self-employed individuals seeking a Personal Loan for abroad studies.
Driver’s Licence, Passport, PAN Card, Aadhaar card
Filled Loan Application Form, Passport Size Coloured Photograph
Six Month Salary Slip & Bank Account Statement, Form 16
Appointment Letter From the Current Employer
Driver Licence, Passport, Aadhaar Card, Utility Bill
Not Applicable
PAN Card (mandatory), Aadhaar, Driver’s Licence, Passport
Filled Loan Application Form, Passport Size Coloured Photograph
Last 6 months' bank statements, ITR for the last 2 years
Tax Registration, Shop Establishment Proof, Company Registration
Aadhaar Card, Voter ID, Utility Bill, Rental Agreement
Maintenance Bill, Utility Bill, Property Documents, Rent Agreement
Before applying for a Personal Loan, it's essential to understand the personal loan interest rates and associated charges to make an informed decision. Here's an overview of the fees and interest rates applicable to our Personal Loan:
| Fees & Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starting from 1.58% per month |
| Loan Processing Charges | Minimum 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST |
| EMI Bounce Charges | Rs 350/- |
| Interest on Overdue EMIs | 1-2% of the loan/EMI Overdue Amount Per Month |
| Cheque Bounce | Fixed Nominal Penalty |
| Loan Cancellation | 1. Online loan app does not charge any cancellation charges |
| 2. Interest amount paid is non-refundable | |
| 3. Processing charges are also non-refundable |
Applying for a personal loan to fund studies abroad is easy and efficient with Hero FinCorp’s instant personal loan service. Follow these simple steps to get started:
Visit the Hero FinCorp website or install the personal loan app
Go to the personal loan page and click ‘apply now’
Enter your mobile number and verify with the OTP received
Choose the loan amount you need
Verify your KYC details to check income eligibility
Click ‘Submit’ to complete your application
If you are 21 to 58 years of age with a monthly income of Rs 15,000 and a good credit score, you can obtain a study loan for international students without parents.
Hero FinCorp does not ask for your percentage to approve your personal Loan for education. Just meet the basic eligibility criteria.