Incred Education Loan

Incred Education loan

Incred Finance is an NBFC (Non Banking Financial Company) which provides the much needed education loan without collateral for students planning to study abroad. It was established in 2016 and entered the collateral free education loan segment in 2017. Even though it's fairly new in the market, Incred Education Loan has already emerged as one of the leaders in the Non Collateral Education Loan arena. The terms and conditions of an NBFC education loan vary on a case by case basis. The Incred Student Loan is generally better than other loan providers in the market. However, the financial team at WeMakeScholars negotiates on behalf of the student and makes sure the students end up the best package of education loan without security in Incred for their profile.

Incred Education Loan Eligibility

What are the eligibility criteria for an unsecured education loan from Incred?

According to Incred Education Loan guidelines:

The applicant:

Should be at least 18 years of age

Should be a citizen of India

Should have received admit into a recognized university abroad

Should have qualified the relevant tests like GRE/ GMAT/ TOEFL/ IELTS etc

The co-applicant:

Should be a close blood relative of the applicant- parents or siblings are most preferred

Should be in active service and must be filing Income Tax Returns for the past 2- 3 years

Should have a good CIBIL score

Incred Education Loan Repayment

What is the Incred Loan Repayment Policy?

Incred Education Loan terms and conditions terms and conditions allow for flexible repayment options. However, the most common mode of repaying an NBFC Education Loan is partial payment of interest while the student is still pursuing the course.

This monthly payment in the Incred Education loan scheme is Rs. 2000 to Rs. 5000 on average. This amount is kept to the bare minimum so that the student is not inconvenienced. The Incred Loan EMI payment begins after course completion. The Incred Loan payment is predominantly done online.