Education Loan
An Education Loan has the incredible ability to shape and redefine lives because it enables access to higher education. The relevant educational degree and qualifications provide you with a myriad of perspectives for personal and professional growth. However, accessing world-class education often entails navigating high competition and meager admission rates at select universities globally.
The associated costs can be overwhelming even if you secure a coveted spot at one of these institutions. At IKCON Inc, we believe in your potential and right to quality education. That's why we offer to cover 100% of your educational expenses, encompassing course fees, living expenses, and travel costs.
Unlocking this opportunity is simple – just get your loan approved. Once approved, the funds will be disbursed within two working days, ensuring a swift transition into your educational journey.
Pre-Admission Sanction
Maximum Loan repayment tenure
Tax Benefit U/s 80(E)
Feature & Benefits
Avail high value loans
Minimum - Rs. 50,000
The loan will cover tuition fees, hostel charges (if any), cost of books, etc.
*The quantum of education loan can be determined, subject to eligibility and cost, for case-to-case approval.
Enjoy attractive interest rates
Get Repo Rate linked Interest Rates
Pre Admission Sanction
Get Sanction letter before admission based on your profile
No margins on education loans
No margin on education loans upto Rs. 4,00,000
5% margin on education loans above Rs. 4,00,000 for studies within India
15% margin on education loans above Rs. 4,00,000 for studies overseas
Avail education loans for a variety of courses
Education Loans are given to worthy students who have obtained admission to career-oriented courses like medicine, engineering, management, etc. either at the graduate or post-graduate level
Easy loan disbursal
Within 15 working days from the date of receipt of the complete education loan application along with all documents required by the bank for a proper appraisal.
Education Loan will be disbursed in full or in suitable instalments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.
*The quantum of education loan can be higher amounts, above these caps, subject to eligibility and cost, for case-to-case approval.
Apply for an Education Loan with a Guardian
The parent(s) or guardian will be treated as a co-applicant on the education loan and his or her role would be that of the primary debtor.
Secure your Education Loan
Third party guarantee and/or collateral security may be asked for appropriate cases
Additional security in the form of an LIC Policy in favour of the Bank with the sum assured being at least 100% of the education loan amount may be required
Annual premium for the same may be included while computing the education loan requirement and future income of the student needs to be assigned in favour of the Bank to meet instalment obligations
Tangible collateral security of suitable value acceptable to bank may be required along with the assignment of future income of the student for payment of installments.