Get the Tata Capital App to apply for Loans & manage your account. Download Now

Blogs SUPPORT
Loans For You
Loans for Business
Investment
Insurance
Apply

Quick Links for loans

Quick Links for Insurance

Investment

Offers Quick Pay
Back

Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure
Know More
Back

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required
Know More
Back

New Commercial Vehicle Financing

  • First time user
  • Retail and strategic Clients
Know More
Back

Used Commercial Vehicle finance

  • Repurchase
  • Refinance
  • Top up
  • Balance Transfer
Know More
Menu  
 
Apply Now

Tata Capital > Blog > Can You Get Education Loan for Online Education?

Loan for Education

Can You Get Education Loan for Online Education?

Can You Get Education Loan for Online Education?

Meeting the towering costs of higher education isn’t easy for anyone these days. An education loan offers a feasible way to pay for expenses without breaking into your savings. However, these loans don’t cover every type of course.

Nowadays, both students and working professionals are choosing online education as an effective means to advance their careers. But, it is typically not possible to get an education loan for online studies in India. In such a scenario, a personal loan can serve your purpose!

Personal finance for online studies

Personal loans are multi-purpose loans that you can use to finance online education with ease. This is an open-ended loan product that you can use to meet pretty much any kind of personal expense. You can typically get such a loan without any security or collateral. It will cover your educational fee and other expenses.

Additional Read: Impact of the Current Pandemic Situation on Education Loans

How to get a loan for online education

These are some general steps to get a personal loan for online education:

1. Specify your requirement

Assess your situation considering your present financial needs and future expenses. Understand the course fee and applicable taxes you will have to pay. You must also take into account your present financial commitments. This will help you determine the right amount you need to borrow.

2. Check your eligibility

Once you’re clear about your requirement, check the eligibility criteria with your lender. Your loan eligibility depends on several factors such as monthly income, CIBIL score, age, nature of employment, work experience, job stability, etc.

3. Calculate your loan tenure and EMIs

It’s a good practice to have a repayment plan in place before applying for a loan. A longer tenure will lead to smaller monthly payouts but a higher average borrowing cost. On the other hand, a shorter tenure will involve bigger EMIs. Strike the right balance so you can comfortably repay the loan. Use an online personal loan EMI calculator to get an estimate of your monthly obligations.

4. Approach the lender

After having a proper understanding of the above, you can now approach your lender. Today, it’s easier than ever to apply for personal finance online. You can visit the lender’s website or visit the nearest branch.

5. Submit necessary documents

Every lender requires you to submit a set of documents. You typically have to provide documents like income proof, address proof, employment certificate, photo identity, salary slips, KYC (Aadhaar Card, PAN Card), etc. The lender will evaluate your application and verify your documents before approving your loan. After this, the amount will be disbursed into your bank account.

Additional Read: Top Factors Affecting Education Loan Eligibility Criteria

Over to you

Looking to fund your online course? Get an easy loan for education at Tata Capital. Our minimal documentation requirements and rapid approval process mean you get quick access to loan amounts as high as Rs. 25,00,000.

With attractive personal loan interest ratesstarting at 10.99%, you can choose a tailor-made solution to access world-class online education from top institutes. Also, you can enjoy easy repayment options by opting for a flexible loan tenure ranging from 12-72 months. Visit our website and apply today!

Apply Now

Add wings to your dream. Apply for an Education loan!

Apply now
Popular Searches
education loan at 0 interest education loan documents education loan eligibility education loan for abroad studies education loan for mba education loan procedure education loan repayment govt education loan application for the loan vidya lakshmi portal
Disclaimer

Most Viewed Blogs

Trending Blogs

Calculator

Personal Loan EMI Calculator

Personal Loan EMI Calculator
Home Loan EMI Calculator

Home Loan EMI Calculator
Business Loan EMI Calculator

Business Loan EMI Calculator
Used Car Loan EMI Calculator

Used Car Loan EMI Calculator
Two Wheeler Loan EMI Calculator

Two Wheeler Loan EMI Calculator
Loan Against Securities Calculator

Loan Against Securities Calculator
Loan Against Property Calculator

Loan Against Property Calculator
More Tools
Our Subsidiaries
Our Other Websites

Useful Links and Resources

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Policies, Codes & Other Documents

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Tata Capital Solutions & Services

Uh oh, something went wrong

Please try again later.