InCred Education Loan

Incred Education Loan supports your dreams with up to ₹40 Lacs, 11.5% interest, flexible EMI options, and both secured and unsecured funding paths.

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

Students have to upload their documents on the Subraxo documents portal using the documents uploading link provided by their financial officer, or they can submit their documents, at their nearest Incred branch, here is a brief document checklist: Application form Filled loan application form for Incred education loan attached with 2 passport-size photographs (hardcopy of online application form is also acceptable for submitting in the bank) Basic documents for Borrower and their co-applicant and/or guarantor Identification proof PAN Card or passport of the student (if going to abroad) Address Proof – Voter ID Card/ Student's passport/ Telephone Bill/ Electricity Bill/ Ration card/ Aadhar card/ Bank account statement. (If permanent and current address is different then 2 different proofs will be required) ) For salaried co-applicant last 6 months bank account statements showing the salary getting credited. If the co-applicant is a self-employed then last 1 years business transaction Statement of personal asset & liability (approved by the branch officials) Students must self-attest all the documents Academic documents of the borrower Academic mark sheets of class 10th,12th, and degree passing certificates Entrance exam scorecard (Eg. TOEFL, GRE, IELTS or CAT, etc whichever is applicable) Admission proof for the course (mentioning the total duration of the course) Fee structure as given by the college or university Section 4: Co-applicant Income documents For salaried co-applicant Employers ID card Last 3 month's salary slip Form 16 details of the last 2 years ITR of previous 2 years For self-employed co-applicant Balance sheet of last 3 years Income T

The education loan repayment period in Incred can last up to 10 years after the moratorium period. In the repayment duration, students will have to pay a fixed EMI to repay their loan in the stipulated period. If suppose a student has taken an education loan of Rs 40 lacs from Incred at an 11.5% rate of interest and chose to repay their loan in 10 years after their moratorium period ends, then their EMI calculation as per Subraxo Education loan EMI calculator the following will be the result. Repayment Cycle EMI Interest portion Principal portion Loan Outstanding Start of loan EMI 64322 43844 20479 4554521 End of year 1 64322 41578 22744 4315880 End of year 2 64322 38821 25502 4025340 End of year 3 64322 35728 28594 3699569 End of year 4 64322 32261 32061 3334296 End of year 5 64322 28373 35949 2924729 End of year 6 64322 24014 40308 2465499 End of year 7 64322 19126 45196 1950582 End of year 8 64322 13646 50677 1373228 End of year 9 64322 7501 56822 725863 End of year 10 64322 611 63712 0 Students willing to repay their education loan before their repayment duration can opt for any of the following repayment strategies to repay their loan:

To apply for an education loan from Incred through Subraxo, follow the below steps: Step 1: Speak to your financial officer by requesting a callback or filling up the loan application form Step 2 : Provide your loan profile details, as asked over the call Step 3: Upload your documents on the Subraxo documents portal, using the documents uploading link. As per the documents checklist given by your financial officer Step 4: Your financial officer will look into the process and get your loan sanctioned within 1 week Step 5 : Collect your loan sanction letter from the bank If you will visit the banks directly to get your loan sanctioned, your loan processing will not be as simple as told above, because, then you will have to face the following issues during the process: Multiple visits to the bank Delay in the processing Incomplete information about loan schemes Improper customer services Post-sanction disbursement issues No particular list of required documents No negotiation support Lots and lots of documentation That is why we offer our premium student loan sanctioning services to students so that they can skip the hassle and focus more on their primary goal - ‘studies'. When processing education loans through Subraxo, students can make use of the following benefits: Minimal processing time - If processed through a public bank, your education loan is sanctioned within 15-20 days. If processed through a private bank or an NBFC, your loan will be sanctioned within a week of completing your paperwork. Expert advice - Our financial officers give you full guidance to compare and select from the options of education loan lenders in accordance with your eligibility. Consistent availability - We