Education Loan For Working Professionals

Many individuals pursue their education and professional development through part-time or distance learning programs, even while working full-time. However, not everyone can afford the high costs associated with these programs. Education loans provide a solution for those who want to continue their education but cannot afford the fees. With an education loan, individuals can finance their expenses, such as tuition and course materials, without worrying about paying out of pocket.

Axis Bank

Axis Bank offers an education loan product specifically designed for working professionals in India who want to pursue higher education or professional certification courses.

Under the education loan product offered by Axis Bank for self-employed applicants 

Avanse

Avanse's education loan product is designed to provide financial assistance to individuals who want to pursue higher education or professional certification courses while continuing to work. The loan covers tuition fees, program fees, and other related expenses. The loan amount is determined based on the individual's educational and professional profile, and the repayment tenor can be flexible, with a repayment period of up to 60 months.

HDFC Credila 

Under this education loan product HDFC credila funds up to 100% of the tuition fee/ loan amount for residential and non-residential executive management courses. 

If you decide to take out a secured education loan, you will be required to provide collateral documentation as part of the loan application process. Collateral is an asset, such as property or savings, that is pledged to the lender as security for the loan. The purpose of collateral is to protect the lender in case the borrower defaults on the loan.

1. Property Title Deed 
2. Registered Sale Agreement / Gift Deed / Will
3. The original receipt of registration for the above-mentioned agreement
4. If applicable, a letter of allotment by the Municipal Corporation / Authorized Govt. Authorities like MHADA, CIDCO, HUDA, DDA, JDA, GIDC, etc.
5. Link documents for 30 years or Past chain of sale deed establishing title or EC is required. (If you have owned the property for more than 30 years, then the previous sale deed is enough.)
6. The newest property tax bill and latest electricity bill bearing the same address
7. A copy of the municipality-approved building plan or plot layout.

The following is a general list of collateral documents needed to apply for an education loan. It's important to note that certain states may have additional documentation requirements that are specific to the type of collateral being used. If you would like more information on the city-specific collateral requirements, you can reach out to the lender by requesting a callback. The lender will be able to provide you with a detailed explanation of the specific documents required for your area. 

Free Services: WeMakeScholars provides its services free of charge, as we are funded by the Indian government through the Ministry of IT under the Digital India Campaign.

Reduced Interest Rates: WeMakeScholars partners with various public and private banks in India to offer reduced interest rates, ranging from a 0.5% to a 2% discount to students when obtaining an education loan through them.

Professional Guidance: Students receive support from WeMakeScholars throughout the loan application process, including document preparation and submission. Our financial officers provide regular follow-ups with the lender to track loan processing status, ensuring a smooth and efficient loan experience.

Quick Processing Time: Thanks to our close relationships with banks and NBFCs, we can expedite loan processing, saving students time and effort.

Digitized Loan Processing: The loan application process is convenient, user-friendly, and can be done online, eliminating the need for students to visit a bank in person. Our financial officers are available to assist with any questions or difficulties throughout the process.

End-to-end Assistance: Our financial officers provide end-to-end assistance and keep students informed throughout the loan process, ensuring a smooth and stress-free experience.

Cashback: After loan disbursement, students are eligible for a cashback of up to Rs 3000.