A school loan is also a business category school loan, this loan can be avail by any business owner or any individual who wants to construct a school building to run the school. School loan can be an unsecured loan, that means you can have a loan with any pledge or mortgage. It will help you to save your assets.
The borrower needs to be capable to borrow this loan there are some eligibility criteria for them. Even some documents are required to submit along with your application form for the loan.
- An individual should be Indian or resident of India.
- The age should be between 21 to 70 (may vary from lender to lender)
- Your CIBIL (Credit Information Bureau India Limited) score should be more than 700
- If you are self-employed should have experience of 3 years at least.
You can apply online or offline to apply for the school loan in. Online processing is easier than offline, to apply online you can visit online websites and apply through the portal. On the other hand, to apply offline you need to visit the banks or any other financial institute where you are going to apply for the loan. Submit your application form along with the documents.
In both processes, you can get a school loan interest rate within three days from the banks. Immediate sanction, Easy disbursement, and best offers on the loans provides by the many lenders.