Graduates in India can now procure loans for various purposes. You can take a loan from financial institutions or banks to build your dreams with focus. Whether you want to finance a professional diploma or a postgraduate degree, you can apply for loans of this category. Loans for graduates are good as they are typically provided at low rates of interest so that you do not face repayment troubles.
A loan for graduate will help you in specific ways and some of them are:
You can approach banks, financial institutions, or government institutions and compare the various loan options designed exclusively for graduates. Make sure you understand the features of each loan before applying for one. Analyse if the characteristics of a loan will be appropriate for your particular needs.
Let us now take a look at some of the general characteristics of loans offered by banks as well as financial institutions for graduates in India:
Following are the eligibility criteria for all graduate loans:
Following are the mandatory documents required for all graduate loans:
Rate of interest:
Most banks do not ask for a collateral for lower amounts of graduate loans. For higher loan amounts, you may be asked to give an appropriate third party guarantee or a tangible collateral security of a certain value which is equal to your loan amount.
Following are some of the graduate loan providers in India:
There are many other loans that can be taken by graduates for their requirements. You can compare the benefits of various loans and choose the ideal one that is suited to your current financial condition.