Everything You Need to Know About Education Loan in India –

Everything You Need to Know About Education Loan in India – Especially for Your MBA Journey

Your job path may be shaped by your decision to pursue higher education, particularly an MBA. Since the cost of tuition at the best business schools in India and overseas can reach several lakhs or even crores, many applicants find that taking out an education loan is not just a choice but also a requirement. This thorough article will explain all you need to know if you're looking into education loan in india, particularly for your MBA studies.

Why Think About Taking Out an Education Loan?

The return on investment (ROI) of MBA programs is renowned for being high. The initial outlay, which can range from ₹5 lakhs to ₹40+ lakhs, may be a deterrent, though. Education loans are useful in this situation. They enable students to work towards their academic objectives without immediately burdening their families with financial obligations.

Essential Components of an MBA Education Loan

Because of the high cost and anticipated significant return on investment after graduation, MBA school loans are a little different from regular education loans. Let's examine some key characteristics:

1. Loan Sum: For prestigious Indian B-Schools, the majority of banks and financial institutions offer up to ₹40–50 lakhs. Loan amounts for overseas MBAs might reach ₹1 crore.

2. Rates of Interest: Depending on the lender, the student's academic history, and the B-school's standing, interest rates might vary from 9% to 15%. Propelld provides flexible terms and competitive interest rates.

3. Tax Advantages: You have up to eight years to claim the interest paid on your school loan as a tax credit under Section 80E.

For your MBA education loan, why choose Propelld?

As a leader in the fintech space, Propelld stands out for offering personalized and flexible education loan solutions tailored specifically for MBA aspirants. What sets Propelld apart and makes it a preferred choice among students is its student-centric approach to financing. One of its key advantages is the availability of zero-collateral loan options, where eligibility is determined based on the applicant’s academic profile and the tier of their institute eliminating the need for traditional security. Top MBA Schools That Qualify for Student Loans

Propelld makes it simpler for students to obtain high-quality education without worrying about money by providing education loans for MBA programs at many of India's most prominent universities. Students enrolled in or admitted to prestigious universities like the Indian Institutes of Management (IIMs), XLRI in Jamshedpur, and SPJIMR in Mumbai can take use of their loan programs. Furthermore, Propelld assists prospective MBA students at the Indian School of Business (ISB) campuses in Hyderabad and Mohali, in addition to other prestigious institutions like FMS in Delhi, MDI in Gurgaon, and NMIMS in Mumbai. For students pursuing these extremely competitive programs, getting an MBA loan through Propelld is a simple and effective experience thanks to streamlined procedures and institute-specific agreements.

Concluding remarks

You can advance your career and increase your earning potential with an MBA. Don't let financial difficulties prevent you from reaching your objectives. In India, education loans are now easier to obtain, more transparent, and more adaptable, particularly thanks to modern lenders like Propelld that are more aware of the needs of students than traditional banks.

Today, make the wise move. Start your MBA education loan adventure with Propelld by determining your eligibility.