Education is the key to a bright future, but it comes at a cost. As the cost of education continues to rise, many students find it difficult to finance their studies. This is where Aadhaar Cash Education Loan comes in – a financial product designed to help students pursue their dreams of higher education without worrying about the financial burden.
Aadhaar Cash Education Loan Interest Rate
Aadhaar Cash (Aadhaarcash.Limited) offers education loans for both domestic and international studies. The interest rates depend on various factors such as loan amount, repayment tenure, credit score of the borrower, and the type of collateral provided, if any. It is important to note that the interest rates are subject to change from time to time, and borrowers should check the latest interest rates at the time of applying for a loan.
Aadhaar Cash offers you hassle-free financial support up to 50 lakhs at @7.00% ROI with min@7.5% to max@8.5% APR with a repayment period of a min 1 year to a max of 20 years, and zero processing fees.
Suppose,
The Loan Amount is 10,000, Interest Rate is 7% p.a, and Loan Period is 1 Year. Then the total repayment amount after 1 year is 10,000 + 700(7% ROI) = Rs 10,700
Aadhaar Cash Education Loan Eligibility Criteria
To be eligible for an AadhaarCash Education Loan, the borrower must meet the following criteria:
- Age: The borrower should be between 18 to 35 years of age.
- Educational Qualification: The borrower should have secured admission to a recognized course in a recognized institution in India or abroad.
- Credit Score: The credit score of the borrower should be good. A credit score is a three-digit number that represents a borrower’s creditworthiness. A good credit score indicates that the borrower has a history of timely repayment of loans and credit card bills.
- Co-applicant: A co-applicant is required for loans above a certain amount. The co-applicant can be a parent, spouse, or any other family member with a good credit score and income.
- Collateral: Depending on the loan amount and type, Aadhaar Cash (Aadhaarcash.Limited) may ask for collateral or security. The collateral can be in the form of property, stocks, bonds, or any other asset that has a resale value.
Types of Aadhaar Cash Education Loan
Aadhaar Cash offers a range of education loans to meet the diverse needs of students. Some of the popular types Aadhaar Cash Education Loan are:
- Aadhaar Cash Scholar Loan: This loan is designed for students pursuing professional or technical courses in India or abroad. It can be used for tuition fees, hostel fees, purchase of books and equipment, or any other education-related expense. The interest rate on this loan starts from 7.50% p.a. for domestic studies and 8.50% p.a. for international studies.
- Aadhaar Cash Global Ed-Vantage Loan: This loan is designed for students pursuing postgraduate or doctoral studies in foreign universities. It can be used for tuition fees, living expenses, travel expenses, or any other education-related expense. The interest rate on this loan starts from 7.50% p.a.
- Aadhaar Cash Skill Loan: This loan is designed for students pursuing vocational or skill development courses in India. It can be used for tuition fees, purchase of equipment, or any other education-related expense. The interest rate on this loan starts from 7.5% p.a.
Benefits of Aadhaar Cash Education Loan
- Low Interest Rates: Aadhaar Cash Education Loan come with attractive interest rates that are among the lowest in the market. This helps students to save on interest costs and reduces the burden of loan repayment.
- Flexible Repayment Options: Aadhaar Cash (Aadhaarcash.Limited) offers flexible repayment options that allow students to choose a repayment tenure that suits their financial situation. This helps students to manage their finances better and reduces the stress of loan repayment.
- Quick Disbursement: Aadhaar Cash Education Loan are disbursed quickly, usually within a few days of submitting the application. This helps students to plan their finances in advance and pay their tuition fees on time.
