Unicorn Capitals Education Loan is easy-to-get, quick and convenient.
We offer up to Rs 3 lakhs as education loans for Indian education. Enjoy the benefits of our education loans for Indian education with a wide range of collateral options, and easy loan repayment terms.
Besides speedy and transparent processing, the firm offers a host of other benefits on its education loan including flexible tenures and competitive interest rates.
These unmatched benefits make our products among the best education loan in the market.
Eligibility:
The following people are eligible to apply for an Education Loan for Indian Education:
- Resident Indians
- Individuals between the ages of 16 and 35
- For Loan amount upto 1 lac: third party guarantee and parent(s) as joint borrower(s)
- For loan amount > 1 lac: Tangible collateral security along with Parents to be joint borrower(s)
Documentation:
The following documents are required along with your Education Loan for Indian Education application:
| Category | Applicant (Student) |
| Academic | Institute admission letter with fee break-up |
| SSC, HSC, Graduation mark sheets | |
| KYC (Know Your Customer) | Age proof |
| Signature proof | |
| Identity proof | |
| Residence proof | |
| Income Documents | Salaried (Parents) |
| Latest 2 salary slips carrying date of joining details | |
| Previous 6 months bank statement of the salary account | |
| Self Employed (Parents) | |
| ITR of previous 2 years along with computation of income | |
| Audited balance sheet of previous 2 years | |
| Bank statement of previous 6 months | |
| Proof of turnover (latest sales/service tax return) | |
| Self Employed – Professional | |
| ITR of previous 2 years along with computation of income | |
| Audited balance sheet/proft and loss statement of previous 2 years | |
| Bank statement of previous 6 months | |
| Proof of Qualification |
Rates & Fees:
Enclosed below are Unicorn Capitals Education Loan Interest Rates & Charges*
| Fee | Amount to be Paid |
|---|---|
| Rate of interest range | 15% to 22% |
| Loan processing charges | 1% of the loan amount subject to a minimum of Rs. 500/- |
| Pre-payment charges | 3% of Principal Outstanding |
| No Due Certificate/No Objection Certificate (NOC) | NIL |
| Duplicate of No Dues Certificate/NOC | Rs. 100/- |
| Solvency Certificate | Not applicable |
| Charges for late payment of EMI | Rs. 500/- or 10% of unpaid EMI whichever is higher to be paid per month |
| Stamp duty & other statutory charges | As per applicable laws of the state |
| Cheque swapping charges | Rs 500/- |
| Amortization Schedule charges | Rs 200/- |
| Loan cancellation charges | NIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.) |
| Cheque bounce charges | Rs. 350/- per cheque bounce |
| Legal/incidental charges | At actual |
| Collection fees | 36% of unpaid balance or Rs. 3000/- whichever is higher for every notice |
* – above charges does not include GST and is applicable as per current government policy.
The above charges and rates are under the sole discretion of Unicorn Capitals, subject to change without prior notice.