The education sector in India is booming, but apart from the colleges and other institutes for higher education, the sector also includes coaching. The coaching sector of India is growing rapidly and has been for the past decade. Still, with the growing heights of coaching, the cost of coaching classes is also rising. In fact, the fee for coaching classes has now surpassed that of some colleges. Thus, to deal with the rising cost of coaching, people have turned to education loan to manage the cost. CDAC is one of the most famous and popular courses offered in the nation. However, it is not offered by a college or educational institution. Thus, it may not be eligible for education loan.
So, let’s find out whether you can apply for education loan for CDAC?
Education Loan for CDAC
You should know that not all banks offer education loan for coaching. Additionally, majority of the loans offered by the bank have high education loan interest rate. One of the reasons is the uncertainty related to education loan repayment if the applicant is pursuing CDAC. Additionally, you also need to realize that the time taken by the bank to process the loan would make pursuing CDAC a hassling process. Moreover, you need to realize that the tenure of education loan is very high while the fee for CDAC is relatively low. It means that even if you wish to pay off the loan earlier then you will need to pay an additional fee.
Instant Loan for CDAC
You now know the pros and cons of applying to a bank for the loan. However, if you were to apply to PaySense for education loan for CDAC, you will not have to deal with a very high education loan interest rate. Moreover, the education loan repayment process will also be easier as you will not have to deal with a very high fee for paying off the loan early. Secondly, PaySense will enable you to avoid the time consuming process of documentation and approval. So, download the PaySense app and apply for the loan now.
Apply for Loans of upto ₹5 Lakhs easily using your phone or laptop, and pay back on low EMIs