As a student, fulfilling your dreams and goals sometimes seems to become a challenging notion, especially if you are not backed financially.
As a student, fulfilling your dreams and goals sometimes seems to become a challenging notion, especially if you are not backed financially. Education loans come as a natural progression in such cases where students get a chance to chase their dreams. However, education loans, more often than not, come with a very tedious and complex procedure to adhere to with much paperwork and legalities involved. Creditap is the custom made answer where student education loan in Indiais concerned. At Creditap, our main aim is to keep the entire process uncomplicated and hassle-free.
Why consider Creditap for financing your education
Statistics point out that education loans in India have shrunk 25% in four years. The number of students who manage to secure loans has fallen to about 2.5 lakh as of March 31, 2019, from around 3.34 lakh students as of March 31, 2015. Yet another worrisome scenario that has cropped up is that banks are now giving loans to fewer students for various reasons and with a lot of collateral, documentation etc. For students looking for loans below the amount of Rs. 4 lakh without collateral, the situation is even more dismal as banks are refraining from providing such loans now. Applying for education loans in India thus is becoming more and more difficult. They are moving away from poorer/ less privileged students and making more and more tie-ups with educational institutes directly.
What are hassle-free educational loans and why are they important
Hassle-free education loan essentially implies that it is a stress-free, easy and instant education loan. Such loans mostly work through a do-it-yourself platform which is usually an app-based digital lending platform. There will be no executive who will visit you for the collection of documentation or providing any other services. As a borrower, you are mainly required to upload your documents for eKYC. The documents required would include a photograph, PAN card, Aadhar card, passport etc. Also, you would be required to upload your income-related documents such as six months’ bank statement, three months’ salary slip, income tax returns etc. A nominal registration or a processing fee might have to be paid to the lending firm. This is usually to ensure that the company is dealing only with a serious borrower who will not back out at the last minute.
Also, Education loan interest rates in such cases are quite flexible. In most cases, those borrowers who come with a higher risk get loans at a higher rate of interest. However, those who are considered likely to repay the loan diligently, get the loan at a much lower rate of interest.
The significance/ implications of Hassle-free loans
The challenges you will face when going for a regular loan involves a lot of documentation, collateral, eligibility etc. Creditap offers several features that amount to making the entire process completely ‘hassle-free’. Some of these features that help a borrower are discussed below.
Paperless Document approval
Going paperless implies exchanging/sharing information digitally rather than through bulky paperwork, letters, pages after pages of credentials etc. This saves you a lot of time that is otherwise spent on filing, organising, searching for paper documents etc. It is an easier method of transferring information and even boosts security.
Quick payment system
Creditap disburses loans directly to the institute funds. The educational institution will receive the payment of the course fee by the company as soon as the session starts.
Coherent Tracking System
When you apply for a higher education loan or even a small education loan, you probably do not want to take any chances where timely payments are concerned. This is to ensure there is no break in the flow of education/training for want of finances. Thus, Creditap provides you with an easy to use app wherein you can easily check on the status of the applied-for education loan at any given point of time with just a tap of a finger or click of a button.
When you borrow from Creditap, you can rest assured to not get fleeced as is the case with various other loan avenues where many hidden costs are not discussed initially and later come up unannounced. There is just a simple one-time processing fee which is extremely affordable along with very competitive interest rates. This will give you peace of mind when it comes to the repayment of your loan. Besides this, there are neither any other hidden costs nor any kind of extra fees.
Discretion in credit history
When it comes to dispensing quality education to aspiring candidates, we try our best to leave no stone unturned. We appreciate the pursuit of good education and want deserving candidates to get the scope they have been looking for. We thus aspire to pave the way that will lead you to the dreams you have seen for your academic life and career and this we do without taking your credit history into account.
When it comes to payment of fees for higher education or any other certification course, we have the best possible solutions for you that will take care of your needs most efficiently. Our solutions are not only simple and swift but very credible too.
The current economic situation in the country requires a future of proficient workers to take it to the next level. A great and robust basic education system is the first step towards this larger goal. Educational loans play a very important role in this regard and in a way serve as investments towards a future of economic development and prosperity of the nation by being a source to nurture young minds. At Creditap, we give you the ease of applying for student loan online and make the entire process simple and hassle-free, because we realise the importance of the role of finances in the life of a student. So, when you have chosen Creditap you can feel relaxed and just go about chasing your academic dreams & ambitions. We make sure to support your academic growth through an uncomplicated loan disbursal system…With Creditap’s support; you can soon become the bright future of the nation!