Education is the key to unlocking opportunities and shaping a better future. However, the financial burden of education expenses can sometimes hinder these aspirations. This is where education loans step in, serving as a bridge that connects students to the world of learning without immediate financial constraints.

An education loan is a powerful financial tool offered by banks and financial institutions, designed to provide students with the necessary funds to pursue their academic dreams. These loans cover a wide range of expenses, including tuition fees, study materials, accommodation, and other educational essentials. What’s remarkable is that education loans recognize the financial challenges students often face while pursuing higher education.

In India, education loans are governed by laws and regulations that ensure fairness and accessibility. The government has introduced initiatives like the Central Scheme for Interest Subsidy (CSIS) and the Vidyalakshmi Education Loan Portal to make education loans more affordable and attainable.

One standout feature is the moratorium period, a period of time after loan disbursement and lasting until after the completion of studies. During this time, borrowers are not required to make any repayments, allowing students to fully concentrate on their studies without financial stress.

According to Indian law, education loans cover various levels of education, including undergraduate, postgraduate, vocational, and professional courses. The loan amount can cover a significant portion of the total course fees and related expenses. Moreover, borrowers often benefit from flexible repayment terms that start after the moratorium period concludes.

Remember, an education loan isn’t just about finances—it’s an investment in your future. By gaining access to quality education, you’re equipping yourself with the tools to contribute to society and reach your full potential. As you embark on your educational journey, consider education loans as your partners in progress, enabling you to embrace knowledge, opportunity, and a brighter tomorrow.

★ Student Documents
1. Passport Size Photo – 1 Copy
2. Passport
3. Pan card
4. Aadhar card (front & back)
5. 10th & 12th Mark sheet
6. Graduate all Semester Mark sheets with Degrees certificate
7. IELTS Score / MOI / PTE / TOFFEL Score card
8. Offer Letter
9. Latest Light Bill of Home
10. Mobile Number & Email ID

★ Co-Applicant (If Business Profile)
1. Passport Size Photo – 1 Copy
2. Pan card
3. Aadhar Card
4. Latest Light Bill (Home & Office)
5. Business Proof
6. Last 2 Years ITR with Balance sheet and profit & loss
7. Last 8 months bank statement(Saving & Current A/C)
10. Mobile Number & Email ID

★ Co-Applicant (If Salaried Profile)
1. Passport Size Photo – 1 Copy
2. Pan card
3. Aadhar Card
4. Latest Light Bill of Home
5. Job Appointment Letter
6. Job ID card
7. Last 3 Months Salary Slips
10. Bank Statement Last 8 Month(Salary A/C)
11. Last 2 Years Form -16
12. Mobile Number & Email ID

★ Father & Mother Documents
1. Pan card
2. Aadhar Card
3. Mobile Number & Email ID

★ Two References
1. Name
2. Full Address with Pincode
3. Occupation (Salaried or Business Profile) 4. Mobile Number & Email ID

★ Resident Documents
1. Latest Light Bill Copy
2. Rent Agreement (If Rented)

1. Citizenship: The student should be an Indian citizen to qualify for an education loan.
2. Age: Generally, the student’s age should fall within a specified range, often between 16 to 35 years. This can vary based on the lender’s policies.
3. Course and Institution: The educational course and institution should be recognized by relevant government authorities or regulatory bodies. Loans are usually available for various courses, including undergraduate, postgraduate, technical, vocational, and professional courses.
4. Loan Amount: The loan amount can cover Tuition fees, examination fees, library fees, laboratory fees, cost of books, equipment, living costs, flight tickets, essential technical equipment (e.g., laptops), insurance for overseas students.
5. Co-Borrower: In most cases, a parent, guardian, or any blood relative, such as a father, mother, brother, or sister, may act as a co-borrower for the loan. The co-borrower should have a stable source of income to support the repayment process.
6. Academic Performance: Some banks may consider the student’s academic performance as a criterion for eligibility. A certain minimum percentage of marks in the qualifying exams may be required.
7. Collateral or Security: Depending on the loan amount, collateral or security may be required. For lower loan amounts, collateral might not be mandatory.
8. Repayment Capacity: The borrower’s and co-borrower’s financial stability and repayment capacity play a crucial role in loan approval. Income and employment stability are often considered.
9. Credit History: The loan amount can cover tuition fees, examination fees, library fees, laboratory fees, cost of books, equipment, and other necessary expenses for the course.
10. Admission Confirmation: Lenders may require a confirmed admission offer from a recognized institution before approving the loan.

✔ Submit Currently Running Loan Statement of account (If Any).
✔ Submit all Documents in Hardcopy Together.

✔ All Above Documents should be in Individual PDF or JPEG

1. Compare and Choose: Obtain loan quotes from different banks and lenders, then analyze and select the best option for you.
2. Listen and Learn: Pay attention to what various vendors have to say. You might discover new insights that you weren’t aware of.
3. Honesty Matters: Be transparent about any negative aspects of your financial history with the vendors. This helps them guide you towards the right choices.
4. Credit History Conversation: Discuss your complete credit history with the vendors. This enables them to provide accurate solutions and avoid potential rejections.
5. Politeness Pays: Maintain a respectful attitude with the vendors. Building a good rapport can lead to more beneficial and lasting relationships.
6. Preparation Pays Off: Gather all your documentation and security cheques before applying for a personal loan. This proactive approach saves you time and ensures a smoother process.
7. Stay Connected: Keep in touch with your vendors until you receive a definitive status update on your loan application. Open communication helps you stay informed.
8. Track Your Progress: Use your application number to monitor the status of your loan application on the bank’s website. This keeps you informed every step of the way.

Unsecured loans offered by banks and NBFCs to entrepreneurs, without requiring collateral, are known as business loans. These loans in Vadodara serve various purposes such as business growth, travel, shopping, medical expenses, and more. Business loans are accessible and can be secured swiftly, offering a convenient cash flow solution.

To apply for a business loan at our City, you need your KYC documents and income records like the last 3 years’ IT Returns, Profit & Loss statements, Balance sheets, and a 12-month current account statement. The process is streamlined and straightforward, typically taking 3 to 7 days for approval based on your profile and the lender’s policies.

Multiple lenders offer varying interest rates, tenures, and loan amounts. The loan value and interest rate depend on factors like annual turnover, business nature, net and gross profit, average bank balance, and CIBIL score. Banks grant business loans ranging from Rs. 3 lakhs to Rs. 50 lakhs.

Every document is verified by authorized verification agencies. Once documents and CIBIL credit are validated, loans are sanctioned and disbursed post-agreement with banks and submission of security cheques.

Repayment begins the following month after loan disbursement. If disbursed after the 15th of a month, EMIs start from the subsequent month, and pre-EMI interest is deducted.

At Numeric Consultancy, we connect you with multiple banks and NBFCs, maximizing your options. Apply here to receive tailored offers, empowering you to select the most suitable loan based on your preferences, loan amount, and interest rate. Negotiate with lenders for the best deal, considering processing fees and prepayment charges before finalizing the loan agreement.

★ KYC Documents
1. Pan Card
2. Aadhar Card
3. Passport Size Photos – 3 Copy

★ Income Documents
1. Last 3 Years IT Returns
2. Balance Sheet – Computatioin & Profit-loss
3. All Bank Statements of 1 Year from Till Date.(Current & Saving)
4. GU-MAT-SA Dhara Certificate, Udhyog Aadhar, GST Certificate
5. Light Bill of Business/Rent Agrement (If Rented)

★ Resident Documents
1. Latest Light Bill Copy
2. Rent Agreement (If Rented)

1. Diverse Options for Business Loans: When seeking a business loan, each bank offers varying interest rates, tenures, and criteria. Your loan amount and interest rate depend on your profile, encompassing factors like your company, take-home salary, average bank balance, designation, and CIBIL score. Banks usually grant loans based on multiples of your net take-home salary, typically ranging from 7 to 18 times.

2. Consider the Balance Transfer Scheme: If you wish to relieve the burden of high interest rates or consolidate multiple EMIs into one, the Balance Transfer Scheme can be a game-changer. This scheme provides a chance to secure a new loan with lower interest rates and processing fees. By utilizing this scheme, you can manage a single EMI despite obtaining new funds.

3. Discover Special Schemes: Every bank and NBFC offers unique policies for business loans, often considering different factors for eligibility. Special schemes cater to diverse situations, even accommodating those who may be overleveraged. These institutions frequently introduce new schemes featuring varying loan amounts, processing fees, and interest rates. It’s advantageous to seize the right scheme promptly.

4. Differentiating Prepayment and Regular Loans: In the market, there are loans with and without prepayment options, each having distinct interest rates. Choose between them based on your loan purpose, repayment capacity, savings strategy, and additional income sources. Deciding if you can make prepayments before the tenure concludes is crucial for optimizing your loan choice.

5. Understanding Flat Rate and Reducing Rate: Differentiating between flat interest rates and reducing interest rates is pivotal. While they yield the same effective interest rate, the calculation method varies. A flat rate multiplied by 1.75 equals the reducing rate. For example, if the flat rate is 10%, the reducing rate would be 10% * 1.75 = 17.5% annually. This understanding ensures informed decisions and prevents misunderstandings caused by misinterpretations.

✔ Submit Currently Running Loan Statement of account (If Any).
✔ Submit all Documents in Hardcopy Togather.
✔ Also Mail US all Softcopy on PDF File

1. Compare and Choose: Obtain loan quotes from different banks and lenders, then analyze and select the best option for you.
2. Listen and Learn: Pay attention to what various vendors have to say. You might discover new insights that you weren’t aware of.
3. Honesty Matters: Be transparent about any negative aspects of your financial history with the vendors. This helps them guide you towards the right choices.
4. Credit History Conversation: Discuss your complete credit history with the vendors. This enables them to provide accurate solutions and avoid potential rejections.
5. Politeness Pays: Maintain a respectful attitude with the vendors. Building a good rapport can lead to more beneficial and lasting relationships.
6. Preparation Pays Off: Gather all your documentation and security cheques before applying for a personal loan. This proactive approach saves you time and ensures a smoother process.
7. Stay Connected: Keep in touch with your vendors until you receive a definitive status update on your loan application. Open communication helps you stay informed.
8. Track Your Progress: Use your application number to monitor the status of your loan application on the bank’s website. This keeps you informed every step of the way.