loan for upskilling
Financing Your Upskilling Course – The Ultimate Guide
Many students and professionals in India think twice before choosing an upskilling program because of the exorbitant price of these programs. However, grants, scholarships, bank loans, and, more recently, credit cards and personal loans have changed the scenario. The easy availability of financing options from banks and non-banking financial companies has given students a new lease of learning. In this blog, let’s explore the different types of financial assistance available and which is the best for you. 1. Credit from Financial Institutions (Including Banks and NBFCs) Banks offer loans to students for education. Some banks offer fixed-rate loans with higher interest rates and (you know the exact monthly repayments before applying for the loan) collateral loans (you keep gold or pro...
Loans for Upskilling: Bank v/s NBFC Which is better?
The job market is changing, and the competition is tough. Times are hard, and recession is looming. Moreover, AI and machines threaten to replace humans in their jobs to increase efficiency. In such a bleak scenario, what is the ray of light for survival in the job market You may have heard about upskilling! Definition of Upskilling Upskilling refers to training your skillset to suit your career goals better. However, upskilling is often overlooked because of the crunch of time for balancing work and learning or funding their learning needs. While loans for education are available for students wanting to study abroad or in the country, the lack of options to fund upskilling courses for working professionals has made people reconsider learning or put it on the back burner. Banks Banks are a...
What are the low cost financing options for professional courses?
Learning today is on the go. The young generation is hungry to learn but at their ease and convenience. Therefore, online courses have sprouted and given learning a new lease of life and opportunities galore for everyone to upskill. In addition, young people today are looking to fund their education and want the best deal from school loan providers. A student who wants to pursue an academic course requires financial aid from his family, friends, or a bank or NBFC to fund his studies. Eduvanz low-interest loan rates are available; if you want to finance your learning, click here. Education Loans: Find The Right One For You Banks and Non-Banking Financial Companies (NBFCs) offer one-year and five-year professional course loans. These loans can be repaid monthly or in annual increments over t...
How to convince your employer to pay for your upskilling loan?
Self-financing can be a huge problem if your learning courses run in lakhs. It is even more difficult if your salary is your means of survival. Instead of dashing all hopes to upskill and get the promotion you desperately want for a boost in salary, find ways to finance the course. This blog will reveal the perfect way to pay off your upskilling loan and jumpstart your career in quick steps. Learn about your company’s learning and development (L&D) policy Many companies have policies to offer loans to their employees. Check with your employer or organization and ask for such benefits. Their L&D budget may include an upskilling loan, and they may aid with the application. If not, ask your HR department if there is special financing available. Know your team’s and compan...
Confused About Student Loan Vs Self-Funding? All You Need to Know to Make a Choice
Most students find taking an education loan to be taxing. For one reason or another, students would like to pay for everything up front rather than having to worry about EMIs. However, this would require them to accumulate savings and also sell or pledge assets. So, which among the two – ‘student loan’ or ‘self-funding’ is the best way to go? And how do you know which one is right for you? We’ll help you put this question at rest by explaining all about student loans vs self-funding. Self-funding Student loan Supporting one’s own education by soliciting financial aid from one’s friends, family, savings or other relatives rather than receiving cash from a third party is self-funding your own education. Instead of investing your own money, you might support you...
The Benefits of Taking a Loan for Upskilling
Loans for upskilling are an excellent way to improve your skills and save money at the same time. The best part? It is easy to get an education loan in India. There are numerous benefits of taking loans for upskilling. Apart from learning new skills, you also can manage your finances in an organized manner. The other benefits are: 1. Bring Down the Interest Rates Lower interest rates are charged on upskilling loans. In addition to that, women are offered an extra 0.5 per cent discount from banks and NBFCs on their education loans. Low-interest rates on your loans don’t make you feel the burden of loans. In fact, upskilling loans of Eduvanz are offered with zero to low-cost EMIs. 2. Pay After You Have Finished Your Course One of the key benefits of upskilling loans is this. Education loan...
Credit card v/s Buy Now Pay Later for Upskilling courses
Credit cards have been a boon. A saviour completely! Romina recalls her early college days when lack of cash meant curbing her desires. But now, with a credit card at her disposal, she is free to buy whatever her heart wants. And converting them into easy repayable instalments is the best thing to happen. Earlier credit cards were offered only by banks, but e-commerce companies and even fintech players have entered this lucrative space. As a result, Buy Now Pay Later (BNPL) is an option available for all kinds of your shopping needs, even upskilling courses. Buy Now Pay Later (BNPL) or Credit Card – Which is better? Well, it depends on how you use it. In this article, we will discuss both these modes of payment, their advantages and disadvantages to help you choose the right one for ...
