Instant Education Loan

Many banks and financial institutions now offer instant education loans that can be approved in just a matter of hours. These loans are specifically designed to cater to the urgent financial needs of students who require an education loan instantly to pursue their academic dreams. Students can get an instant education loan approval letter on successful sanction of the education loan through these schemes.

Individuals can get an education loan of up to 1 Crore instantly at an interest rate starting from 9.55%.

Students have the opportunity to obtain an instant education loan in India of a maximum amount of 2 Crores and obtain it instantaneously with an interest rate that begins  at 9.55%.

State Bank of India offers Education Loan product offers an instant education loan of up to 1.5 Cr with interest rates starting from 8.55%

Instant education loans of up to 1.5 crore for abroad and 80 Lakhs for India are available from Bank of Baroda, with interest rates starting at 9.15% for India and 10.60% for abroad

Students can get an instant education loan of up to 1.5 Crores at an interest rate starting from 10.30% from Karur Vysya Bank. Commercial properties are also acceptable

On going through WeMakeScholars

You can avail an instant education loan of  up to 30 Lakhs at an interest rate starting at 10.90% from Union Bank

From ICICI You can avail of an education loan of up to 2 crores secured and up to 1 crore unsecured at an interest rate starting from 11%.

Students can obtain an education loan instantly from the IDFC First Bank for up to 75 Lakhs at an interest rate starting from 9% with no collateral requirement. 

Avanse doesn’t put an upper cap on the loan amount. The loan amount provided depends on the applicant’s profile. The interest rate rests at a static 14%. 

Overall, an instant education loan online application can be a convenient and efficient way for students to access the funding they need to pay for their education. However, it is important for students to carefully consider their options and choose a loan that is affordable and meets their needs.

Step 1 - If you're planning to take out an education loan, it is important to do your research and carefully choose the lender. You need to consider the following: Interest rates offered by different lenders, Loan amounts offered by different lenders on the basis of your profile, acceptable co-applicants and the repayment tenures.

Step 2 -  You need to then visit the website of the lender you picked and fill in the application form for an education loan. 

Step 3 - Go to the bank and attend an interview/ meeting where a lender representative will check your eligibility and explain the terms and conditions of taking out an education loan.

Step 4 - You’ll again be asked to visit the branch/ lender again to submit the documents required for an education loan. 

Step 5 - The bank then checks all the documents and starts processing your loan. Which can usually take up to a month in some cases!

Step 6 - After you receive your sanction letter, the loan amount will shortly be disbursed into your bank account.

Limited Options: If you go straight to a lender, you may only have access to their specific loan products. This means you may not be able to compare rates and terms from other lenders, which could result in paying more for your loan than you need to.

Manual Application Process: Many lenders still require manual application processes, which can be time-consuming and require a lot of paperwork. This can result in delays and longer processing times.

Limited Customer Support: If you have questions or issues with your loan application, going straight to a lender may not provide you with the level of customer support you need. This can result in delays and frustration when trying to resolve issues.

Limited Loan Options: If you go straight to a lender, you may only have access to their specific loan products. This means you may not be able to compare rates and terms from other lenders, which could result in paying more for your loan than you need to.

Step 1: There are two ways to contact us - you can either ask for a callback or complete the standard application form that will be accessible on our website.

Step 2: You are required to provide all the necessary information to the financial officer assigned to you. After examining your information, they will provide you and connect you with suitable lenders that match your financial requirements.

Step 3: Once the financial officer has found some suitable lenders for you, you can look at their offers and compare them. After considering the different choices, you can pick the lender that works best for you and let the financial officer know your decision.

Step 4: After you have chosen a lender, the financial officer will give you a customized list of documents. It's important that you get and send all the required papers to the WeMakeScholars portal or the bank promptly. This will make the loan application process quick and easy.

Step 5: After you've sent the documents and started the loan process, you can sit back and let the financial officer handle it. You may get calls from the lender or financial officer during the process to keep you informed about the process. 

Step 6: The lender typically takes around 2-6 working days to approve and sanction the loan in case of pvt banks and NBFCs and around 15-20 working days in case of public banks. Once your loan is approved, you will receive a loan sanction letter.

Negotiation: We can help students get their education loan for a lower interest rate. We can reduce the interest rate by up to 2% from the offer given by the lender. 

Experience in solving complex cases: We have expertise in solving complex cases. By going through with WeMakeScholars you can make sure that experienced financial officers who process 1000s of cases on a daily basis 

Transparent process: We will keep you informed of your application progress, ensuring that you clearly understand each stage. We are always available to respond to any inquiries you may have, and our aim is to make the loan application as straightforward and stress-free as possible for you.

Cashback: At WeMakeScholars, we offer a reward to students who take out a study abroad loan through our platform. This reward includes cashback that is added to the first loan disbursement. The maximum cashback amount that can be earned is INR 3000.