Typically, an education loan is available to students who are enrolled in an accredited college or university, or a vocational or trade school. Eligibility for an education loan may also depend on the student's/Co-applicant's credit history, income, and other financial factors. Some loans may have additional requirements, such as being an Indian citizen or permanent resident, or being enrolled in a specific program or field of study.
It is best to contact your lender or financial institution directly to inquire about the processing fee for your education loan. They should be able to provide you with the exact amount and any other relevant information. You can also ask about any potential ways to reduce or waive the processing fee, such as applying for financial aid or scholarships. It's always important to know all terms and conditions of the loan before signing the loan agreement.
It is possible to increase the tenure of an education loan, but it depends on the lender's policies and the borrower's qualifications. Some lenders may offer an extension of the loan term based on the borrower's income, credit score, and other factors. Additionally, some loan programs may have a maximum loan term that cannot be exceeded. It is best to check with the lender directly to see what options are available.
EMI stands for "Equated Monthly Installment." It is a fixed amount of money that you need to pay to your lender each month to pay off a loan. The EMI includes both the interest and the principal amount of the loan. The amount of the EMI is determined by the loan amount, the interest rate, and the loan tenure (the number of months you have to repay the loan). Your lender will provide you with a schedule of EMIs that you need to pay each month until the loan is fully paid off.
Yes, Auxilo offers unsecured education loans without the requirement of collateral. However, the terms and conditions of the loan, including interest rates and repayment terms, may vary depending on the borrower's creditworthiness and financial situation.
