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Loan Against Property Balance Transfer Top-up for Self-employed for Higher Education

Higher studies can help you reboot your career. A degree like an MBA or MS in entrepreneurship or a degree in International Business can be a real career booster. While many desire to hold a degree in these courses, some might hold back due to finances. A top-up loan can help in these instances and lift your career. Consider our loan against property balance transfer that comes with a top-up of up to Rs. 10.50 Crore*.

Visa and Flights

VISA AND FLIGHTS

Your student loan will cover your tuition, but not your visa, insurance, flight tickets and similar costs. These costs are big and could cause a dip in your savings. It’s easier to get a top-up loan to finance your overhead costs.

Living Expenses

LIVING EXPENSES

When you live on your own, the rent you pay per month isn't the only expense you have. Expenses like groceries, meals, transportation, clothes, phone bills and high-speed internet bills add up over time. These costs can add up quickly and make a big dent in your savings.

Elective Courses

ELECTIVE COURSES

Your total fee goes up if you opt for more courses, and or extra electives. With an education loan, the basic tuition fee is taken care of, but you are responsible for these other costs. In this case, getting more money on top of the loan you already have definitely helps.

Course Material

COURSE MATERIAL

During the course of your studies, you might need to use a computer, software, and textbooks. Expenses like these can come up at any time and are usually not planned for. Consider using a balance transfer to add to your loan against property so you can always be financially independent.

Emergency Fund

EMERGENCY FUND

Emergencies can happen at any time. If you don't have money on hand during these emergencies, it could get hard. Manage these emergencies with a top-up loan on loan against property balance transfer.

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Frequently asked questions

Why should I choose a loan against property balance transfer?

It is recommended that you choose a loan against property balance transfer when your present loan against property lending terms are no longer feasible for you. Transferring your loan against property balance to a different lender may entitle you to competitive interest rates, longer repayment tenure, and a top-up loan.

Who can apply for a loan against property balance transfer?

Anyone with an existing loan against property can apply for a balance transfer with us. Your age, employment status, and city of residence are some of the key criteria for applying for the loan.

Is a self-employed individual eligible for a loan against property?

A self-employed Indian citizen residing in India, between the age group of 25 years* to 85 years* is eligible for the loan. Additionally, you should have a business continuity of over 5 years in the current business.

*Terms and conditions apply

What is the maximum repayment tenure for a loan against property?

You can repay the total sum borrowed over a convenient repayment tenure of up to 15 years*.

What kind of documents are required for loan against property balance transfer?

If you are planning to apply for a loan against property balance transfer, you must be ready with some basic paperwork. A self-employed applicant should have their KYC documents, proof of income (P&L statement), property documents like title deeds, proof of business, and account statements for the past 6 months, etc. handy.

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