Ease your Child’s Foreign Education with Loan Against Property

As of 2022, more than 5 lakh Indian students chose to study overseas to expand their knowledge, accumulate experience and increase their chances of securing a high-paying job. Popular locations where most Indian students preferred to go to pursue higher education are USA, UK, Australia, and New Zealand. In such countries, irrespective of the stream your child chooses, the cost of education can go up to ₹20 lakh per annum, combining tuition fees and costs of living. This can be a hefty sum, but you can ease the financial strain by taking a higher education loan. Take a look at the ways through which a loan against property in India serves as a great option to fund your child’s foreign education.

Gives you a High-Value Amount

Compared to an unsecured loan such as a personal loan, you can get a considerably higher sanction with a loan against property. This is because a loan against property is a secured loan with your asset standing as collateral. It is beneficial to have a larger corpus on hand when you are sending your child abroad to study as you will be better prepared to tackle miscellaneous expenses that may crop up only when they set foot on foreign shores.

By taking a Loan Against Property from a financial institution like Bajaj Finserv, you can get a loan amount up to ₹3.5 crore to give your child the best possible education. With competitive interest rates and flexible tenure of 2 to 20 years, repayment is simple and stress-free. Further, if you avail the loan with the Flexi Loan facility then you will be able to further reduce your EMI burden by up to 45% as you can choose to pay interest-only EMIs for your borrowed sum. Further, this facility helps you borrow money in parts, as per your needs.

Offers you a Competitive Interest Rates

Courtesy of the security that you pledge, you are sure to get a loan against property at a competitive rate of interest. Also, loans against properties are long-term commitments and lenders are likely to offer you a better rate on these kinds of loans. Further, if you display multiple sources of income and exhibit a good credit score you have a better chance of negotiating a lower interest rate. This will help you use the loan judiciously, without compromising on your child’s needs.

Makes Repayment Easy

Lenders are likely to offer you an array of value-added benefits on your loan against property so as to make repayment easier on your pocket. So, with lenders like Bajaj Finserv for instance, you can avail a low-interest, high-value top-up loan to pay for the added costs for your child’s education like rent, extra tuition fees or processing fees of official documents in a foreign land. In addition, the long loan against property tenure that stretches up to 20 years gives you ample time to repay the loan amount without you having to compromise on your standard of living. This apart, you can make part-prepayments or foreclose your loan account earlier than its tenure to save on interest paid in the long run.

Additional Read: Can a Female Applicant Apply for the Loan Against Property

Moreover, Bajaj Finserv disburses the amount within 72 hours once you have the loan against property documents are submitted and approved, and the online account management system helps you apply for the loan and monitor it effortlessly. But before you get started, take a moment to check your pre-approved offer from Bajaj Finserv. It is the simplest and fastest way to access the amount you need to do what’s best for your child.

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