Get an Instant Personal Loan for Education in Just 10 Minutes with Minimal Documents

It is said that there is no substitute for hard work. Similarly, there is no substitute for education. It teaches you how to communicate, behave, and socialise—overall shaping your life so you become a much better human being and contribute significantly to the growth of society, state and ultimately the nation.

However, recent years have seen the cost of education skyrocketing, making things pretty complex for parents. School/coaching/tuition fees, cost of purchasing books/uniforms, bus fare, hostel fees—everything has constantly been soaring by leaps and bounds. Evidently, it is not a child’s play for parents to finance their kid’s education expenses.

SalaryOnTime offers Personal Loans for Education Fee in just 10 minutes with minimal documents, including PAN, Aadhar, Bank statements, etc, without asking for any collateral as security. Being a parent, if you’re stressed and contemplating how to pay your child’s school/college fee or admission/exam fee, SOT’s education personal loan online can be of great help. Let’s scroll down to learn more about this personal loan.

What is an Education Personal Loan?

A personal loan for education is classified under unsecured personal loans, allowing individuals to access funds instantly, generally in a matter of minutes or hours. Since Personal Loan for Education Fee is unsecured, it relieves us from the obligation of providing collateral. So, such a type of loan is fittingly appropriate for those who don’t possess any valuable assets or are not in favour of risking their assets.

Another key point is that no collateral means a short, easy and hassle-free documentation process, helping us escape the lengthy and tiring documentation process in secured loans where providing collateral is a must. One can utilise the funds to meet educational expenses, such as paying school/college/tuition fees, paying admission/examination/hostel fees, buying books/study materials/softwares/laptops, covering travel/relocation costs, to fulfill educational aspirations.

Key Features of a Personal Loan for Education

Let’s take a quick glance at the key features of an Education loan for a salaried person by going through the pointers below.

• No Collateral Required (Unsecured Loan): Compared to secured loans, payday loans for education don’t require collateral, security, or a guarantor. Such loans are highly suitable for salaried professionals who don’t have assets to pledge.
• Flexible Usage of Funds: Funds can be used to cover any education-related expense, including:
  • Tuition fees/Monthly fees
  • Exam/Registration fees
  • Buying study materials (books, laptops, software)
  • Travel & accommodation
  • Certification courses, skill development courses & online programs
• Quick Approval & Disbursal: Compared to secured loans, Personal loans for education are processed faster, often within hours or minutes. Minimal documentation is required, making it an easy, convenient, and hassle-free option.
• Based on Creditworthiness: Approval highly depends on:
  • Credit Score (should be satisfactory enough)
  • Income stability (for salaried/self-employed applicants)
  • Repayment ability
• Apply from Anywhere: As the entire loan process is generally 100% digital, you have the flexibility to apply from anywhere, from the comfort of your room, office, etc. No need to visit branches. Just a few taps on your phone ensure your wallet is cash-rich.

FAQs

How can I apply for an education personal loan from SalaryOnTime?

Follow the steps below to apply for a payday loan for education effortlessly.

• Step 1. Visit our website or download the official SalaryOnTime app from the App/Play Store. Next, register your mobile number as a new user by entering the OPT.
• Step 2. The next step is to fill out the application form by entering your personal, residential, employment, and income details. Make sure that all information you have entered is accurate.
• Step 3. Further, upload the required documents, such as identity proof, address proof, and income proof.
• Step 4. After you submit your loan application, our team carefully reviews your eligibility by evaluating every detail. If you fit our eligibility criteria, your loan is instantly approved and the amount is disbursed directly into your bank account.

What is the maximum loan amount I can get for Education?

From SalaryOnTime, you can obtain an amount of up to ₹1 lakh in just 10 minutes, provided you are handy with all the relevant documents.

What are the Advantages of Availing of an Education Loan without Providing Collateral?

Let’s have a quick look at the advantages of an Education loan for a salaried person from SalaryOnTime:

• Loan up to ₹1 Lakh
• Disbursal in Just 10 Minutes
• 100% Online Procedure (right from application to disbursal)
• Hassle-free Documentation
• Easy Application
• No Hidden Charges
• No Collateral Required
• Apply from Anywhere
• Auto-debit Facility
• On-time Reminders