An education loan typically covers expenses related to higher education such as tuition, room and board, books, and other related costs. Some education loans may also cover other expenses such as a computer or transportation. The specifics of what is covered in an education loan can vary depending on the lender and the loan program. It's important to carefully read the terms and conditions of any loan you are considering to ensure that it covers the expenses you need it to.
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.
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.
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.
