InCred

Overview of InCred Education Loan

InCred is a technology-driven NBFC that offers education loans for students pursuing higher education in India and abroad. Known for its data-led credit assessment and faster decision-making, InCred focuses on funding quality academic programs with strong employability outcomes. EduFi partners with students to evaluate eligibility, structure the loan correctly, manage documentation, and coordinate end-to-end processing with InCred to ensure a smooth and timely loan journey.

What Is an InCred Education Loan?

An InCred Education Loan is a customized term loan designed for Indian students admitted to full-time undergraduate, postgraduate, professional, and specialized courses. InCred evaluates applications using a combination of academic performance, institution ranking, course outcomes, and co-applicant financial strength. The loan structure allows students to focus on completing their education first, with repayment beginning after the moratorium period.

Why InCred Is a Preferred Choice for Students

InCred is preferred by students who require faster approvals, flexible eligibility assessment, and higher loan coverage for overseas education. Unlike traditional banks, InCred places strong emphasis on future earning potential and course relevance rather than relying only on collateral. Its digital-first approach, structured processing, and availability of unsecured loan options make it suitable for students pursuing premium international programs.

InCred Education Loan Schemes

InCred Education Loan (India & Abroad)
This core offering supports both domestic and international education. Loan amounts are structured based on the total cost of education, institution quality, and student profile. InCred actively funds MS, MBA, medical, engineering, management, and data-focused courses.

Unsecured Education Loans
InCred offers unsecured education loans for eligible students admitted to reputed universities. These loans are approved based on academic strength, employability potential, and co-applicant income, without requiring tangible collateral.

Secured Education Loans
For higher loan requirements, InCred provides secured loans backed by residential or commercial property, fixed deposits, or other acceptable securities. Secured loans generally carry more favorable interest terms and higher funding limits.

Loan Amount & Coverage

Maximum Loan Amounts and Limits
InCred education loans can extend up to ₹1.5 crore or more, depending on the course, country of study, and collateral availability. There is no predefined upper cap for secured loans, making InCred suitable for high-cost international education.

What Expenses Are Covered
Loans cover tuition fees, accommodation, books, equipment, travel expenses, insurance, and other study-related costs. Living expenses for overseas education are included as part of the total cost of education.

Interest Rates & Repayment Terms

Current InCred Interest Rates (as of 2025)
Interest rates generally range between 10.75% and 14.00% per annum, depending on loan structure, academic program, institution ranking, and applicant profile. Rates are floating and may change based on market conditions.

Repayment Options and Tenure
InCred offers repayment tenures of up to 15 years, allowing students to plan EMIs comfortably after course completion. Flexible repayment structures may be available based on projected income.

Moratorium and EMI Details
The moratorium period usually includes the course duration plus 6–12 months. Interest may accrue during this time, with EMIs starting after the moratorium on a reducing balance basis.

Eligibility Criteria

Student Eligibility Requirements
Applicants must be Indian nationals with confirmed admission to recognized institutions in India or abroad. Academic consistency, course relevance, and institution reputation play a key role in eligibility evaluation.

Co-applicant Requirements
A co-applicant is mandatory. Parents, guardians, or spouses with stable income sources are accepted. Co-applicant credit profile and income stability significantly influence loan approval.

Course Types and Countries Covered
InCred supports engineering, management, medicine, law, analytics, AI, and STEM-focused programs across the US, UK, Canada, Australia, Europe, and other major study destinations.

Margin Requirements & Collateral Details

Loan Margin Explained
Margin requirements vary by loan type. Unsecured loans may require moderate margin contribution, while secured loans may involve defined upfront funding from the borrower.

When Collateral Is Required
Collateral is required for higher loan amounts or when unsecured eligibility criteria are not met. Accepted collateral includes residential property, commercial property, and fixed deposits.

Unsecured / Non-Collateral Options
InCred offers unsecured education loans for eligible students admitted to reputed institutions with strong academic and employability profiles.

Documents Required for InCred Education Loan

Checklist for Student Documents
Admission letter, fee structure, academic records, identity proof, passport, visa documents (for overseas education), and standardized test scores where applicable.

Checklist for Co-applicant Documents
KYC documents, income proof (salary slips or ITRs), bank statements, and credit history details.

Additional Collateral Documents (If Applicable)
Property title deeds, valuation reports, and legal documentation are required for secured loans.

Application Process (Step-by-Step)

How to Apply with EduFi
EduFi evaluates your profile, identifies the best InCred loan structure, assists with documentation, submits the application, and coordinates directly with InCred’s processing team.

Timeline from Application to Sanction
With complete documentation, InCred typically processes education loan applications within 7–15 working days. EduFi’s structured approach helps reduce delays and improve approval timelines.

Common Benefits of InCred Education Loans

Interest Concessions
Interest rates may vary based on academic merit, institution ranking, and loan structure.

Flexible Repayment Terms
Repayment options can be aligned with expected post-study income, allowing smoother EMI management.

Coverage of Living and Travel Expenses
InCred loans include international living costs, insurance, and travel expenses as part of total education funding.

How EduFi Supports Your InCred Loan Application

Expert Eligibility Assessment
EduFi reviews academic strength, institution ranking, and co-applicant profile to determine approval probability.

Documentation Assistance
Structured checklists and verification reduce application errors and rejection risks.

Personalized Lender Matching and Follow-Up
EduFi tracks the InCred loan application closely until sanction and disbursement.

InCred Education Loan for Study Abroad

Popular Study Destinations Covered
United States, United Kingdom, Canada, Australia, Germany, Ireland, and other major education destinations.

Country-Specific Loan Tips
Programs with strong employment outcomes and reputed universities improve approval chances and interest terms.

Loan Margin & Disbursement for Abroad Studies
Disbursement is typically made in tranches aligned with university fee schedules and visa approvals.

Frequently Asked Questions (FAQ)

What Is the Maximum Loan InCred Provides?
InCred can fund up to ₹1.5 crore or more depending on collateral, course cost, and eligibility.

How Long Does InCred Loan Processing Take?
Usually 7–15 working days with complete documentation.

Can I Get a Loan Without Collateral?
Yes, unsecured loans are available for eligible profiles and reputed institutions.

How Is the Loan Disbursed?
Disbursement is made directly to the institution in stages as per the fee schedule.

Tools & Resources

InCred provides EMI calculators and repayment planning tools. EduFi further assists with EMI structuring, Section 80E tax benefit guidance, and long-term repayment planning.