With the help of education loans for medical students, the dream of becoming a doctor may suddenly become a reality.
Many banks provide a moratorium period, little documentation, and a straightforward application procedure that can be done online, making education loans one of the best options to fund your higher studies in the area of medicine in India.
Features and Benefits of Medical Students Loan
- Flexibility Loan Amount – Choose any loan amount starting 5,000 up to Rs. 5 lakhs
- Repayment Term – Borrowers can choose repayment tenure starting 1 month up to 60 months
- 100% Paperless – The entire process from application to disbursal is paperless, online, and hassle-free
- Minimal Documentation – All you need to submit are three documents – ID proof, address proof, and income proof
- Loans with Low Credit Score – Even if you have a relatively low credit score, you can get a loan.
How you can go about getting Medical Students Loan
- Estimate your Expenses
Education is expensive. And study abroad particularly so. When you are calculating expenses consider travel expenses, tuition fees, cost of study material, any special coaching you may need, and cost of lodging and boarding, that is not covered through an education loan. Speak to friends and family who live in the country to understand the cost of living. Once you have an accurate estimate of your costs, you will be able to get an idea of how much Personal Loan you need.
- Decide Tenure and Repayment
Take a Personal Loan for students from a bank that offers flexible tenures, because your monthly repayment amount will depend on the tenure. Remember as a student you may not have the same earnings as you did as a professional. Your biggest requirement is pocket-friendly EMIs. Balance the amount and tenure to arrive at an optimal monthly outgo.
- Make your Application
A Personal Loan requires minimal documentation – ID proof, address proof or income proof. Check with your bank and get all the documents ready. If you are an existing customer, the documentation may not even be required. Find out how you can apply for the loan. Talk to your bank about processing time Personal Loans are disbursed quickly.
Tips to Use a Personal Education Loan Responsibly
- If borrowing for higher education, look at your career options wisely and the possibilities you may have after your course is complete, and judge if you would be able to get a job to pay off the loan.
- Calculate your budget and the loan amount you require at a given period of time.
- For parents, who haven’t saved enough for their kids’ education, plan for the repayment of the loan with EMIs that do not disturb your monthly expenses.
Where to get Medical Students Loan?
Omozing helps make Smart Money Moves for a Lifetime. They strive to get lowest interest rates and best terms for your Online Applications at www.Omozing.com . We’ve made business lending smarter, faster and easier by transforming the approval process from stumbling blocks to stepping-stones. This enables borrowers to not just get access to capital, but also understand what areas they need to work on in order to enhance their credit profile. Omozing ensures that Borrowers get a secure, safe and reliable application process that be tracked online.
5 Reasons to choose Omozing
1. Loans from INR 10k to INR 10 lakhs
Personal Loan Interest Rates starting from 0.8% p.m, and Loan amount ranging from INR 10,000 to INR 10,00,000. The Minimum and maximum repayment period ranges from 1 month to 48 months. CIBIL 600+ all company categories (including LLP, Self Employed, Proprietorship)
2. Cutomised Tailor Options
- Depending on your demands, we may provide quick financing of varying quantities at affordable interest rates.
- You have the freedom to utilise your loan anyway you want, whether for business or for immediate personal needs.
- Flexible repayment options depending on your specific cash flow and budget, as well as conditions that is beneficial to your position.
3. Lower CIBIL
While most lenders require borrowers to have a CIBIL score of over 750, at Omozing.com provide loans even with 600. Besides the CIBIL score, we also considers your age, employment status, and net monthly income.
4. Ways to apply
You can apply for a personal loan through us by 2 ways:
1. You can download our Mobile Application from Google app store.
2. Apply on portal using out Personal Loan link
5. Prompt Loan Disbursal
An easy online application process facilitates speedy verification and disbursal of loan. Get KYC verified from the comfort of your home and have our loan manager take care of an instant transfer of funds to your account.