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5 Things You Must Know Before Applying for An Upskilling Loan

Upskilling Loan

Educational loan is a popular funding choice for most learners who wish to pursue higher education or upskill themselves. Upskilling loans offer much-needed relief to learners by helping them pay for their courses without financial help from parents. Upskilling is the future of education. Over the next few years, education will not be about learning from textbooks but developing relevant skills and knowledge to ensure employability in the job market. 

Those willing to upskill will survive and grow leaps and bounds. So are you looking for an upskilling loan to learn relevant skills for your next career move? But before you apply for a loan, please consider these things that you must know about upskilling loans.

Avail Upskilling Loan from Eduvanz:

Many students dream of pursuing higher education from top institutes, and they get financial assistance from banks quickly for the same. But there are rarely any schemes for loans for upskilling. NBFCs like Eduvanz are bridging this gap by offering learners instant loans for upskilling with affordable EMIs.

Choose the Best Loan Option Between Banks & NBFCs 

Many banks and NBFCs offer upskilling loans; however, the key to avail of them is a mortgage or security. Those eager to avail of an upskilling loan or educational loan from the bank should meet know the bank’s eligibility criteria and have all the documents in place. Loans provided by NBFCs like Eduvanz are convenient. They offer zero-cost EMI options with long tenures and instant approvals. No credit score is required, and the amount is disbursed as quickly as approved.

Know your finances before taking an upskilling loan

 Financial planning is one of the most critical elements in today’s time. It helps create a budget within the limits of the earned income. Eduvanz offers loans based on employability rate rather than the credit limit. Therefore, the loan repayment is divided into long tenure with flexible options to ensure ease for the users.

Get a consultation from a loan counsellor 

 A consultation with a mentor will help you steer the course of your upskilling on the right journey towards growth. A loan counsellor /mentor will help you get a clear picture before applying for an upskilling loan. 

Repayment plans

Non-banking financial institutions provide low or interest-free payments during the moratorium period. Therefore, they offer lower amounts than the banks. Easy, affordable EMIs as per convenience for a long tenure are reasons why one should choose Eduvanz for an upskilling loan. Use online EMI calculators to calculate the exact amount before applying for the loan. Eduvanz calculates EMIs based on the employability rate and salary prospects post-course completion.

There’s no limit to upgrading yourself and upskilling. So if you’re planning to upskill yourself and stand out from others, choose the right course and upskill with Eduvanz!  

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Romina Gopalan is a top-notch upskilling advisor & content writer. Her areas of expertise include Digital Marketing, Data Sciences, IoT, RPA, and UX/UI writing. Her sharp research and writing skills allow her to identify futuristic opportunities. Thus, helping you understand how you can leverage expertise in any domain.

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