Bank Software


We At Provides You With The Best Education Loan Management Software And Services.We Will Give Our 100% And Make Sure You Will Achieve Your Dream. 


A financial loan taken out to cover costs associated with higher education or postsecondary education is known as an education loan.Education loans are intended to cover living expenses, tuition, books, and supplies while the borrower is obtaining a degree.Payments are frequently postponed while students are enrolled in school, and depending on the lender, they may occasionally be postponed for an additional six months after receiving a degree. A “grace period” is another name for this time frame.


Education loans are given out so that students can pursue academic degrees at recognised universities and colleges.Government agencies as well as private lending organisations both offer student loans.Federal loans frequently have reduced interest rates, and some even have interest that is subsidized. The application process for loans from the private sector tends to be more conventional, and the interest rates on these loans are frequently higher than those on loans from the federal government.


There are many different types of educational loans available for many different kinds of educational programmes. Depending on the sort of education a student is pursuing, there are student loans for diploma and certificate programmes, student loans for skill-based programmes, student loans for studying abroad, and other choices.a person wants to pursue.

Regardless of the course, there are two significant categories of geography-based student loans.

Domestic Education Loan

for academic programmes offered within the nation's boundaries. The lenders will sanction the loan if the student has a guaranteed seat in an institution that satisfies the lenders' requirements after the borrower meets a variety of eligibility requirements.

Study Abroad Education Loan :

for educational programmes offered outside the nation's borders. Similar to domestic education loans, the borrower must have a guaranteed spot in a college or university on the list of approved educational institutions in order for the loan to be approved.

Performing Arts & Music

With professionals on board, we take pride in training our students in art forms like dance, drama, painting and more.

There are a couple more subcategories on top of this where the debt from student loans can be further divided.They consist of the following:

On the basis of course of education:

Additionally, loans are given by financial organisations based on the sort of course the borrower chooses. The several kinds of course-based education loans are as follows:

Graduate Student Loans :

Those who want to continue their education in Indian colleges will have access to these student loans. These loans are specifically available to students who intend to pursue postgraduate degrees. To qualify for this loan, students must have completed their undergraduate degree.

Undergraduate Education Loans:

These loans provide the funding necessary for students to finish their undergraduate degree programmes. Three to five years can be spent completing an undergraduate degree, following which there are numerous job opportunities.

Professional Education Loans:

Many NBFCs and banking institutions offered loans to students who wanted to pursue careers in education.

On the basis of security of collaterals and/or guarantee:

Loan against deposits:

You can apply for an education loan against fixed or gold deposits, recurring deposits, or both.

Loan against property:

In addition, banks and NBFCs offer student loans secured by immovable properties including houses, apartments, farms, and other real estate.

Loan against securities :

The borrower may use college loans secured by debentures, bonds, or stock.


There are several prepayment options available even though the repayment period for an education loan does not start right away after loan disbursement (educational loans often contain a moratorium period of up to one year after completion of the course for which they are intended). With educational loans, students also have the option to continue paying interest on the principal amount before the EMIs are scheduled to start. Of course, prepaying the loan or a portion of the loan after the EMIs have started is by far the most typical choice. This significantly shortens the length of the loan repayment cycle or the EMIs


By managing the whole loan lifecycle, from lead processing, assessment, and servicing through collections management, you can streamline the operations involved in managing student loans. Give students access to customer self-service web portals and mobile applications to start the process at any time, anywhere. Utilize the process’ built-in, rule-based risk assessment engine, which is powered by artificial intelligence (AI). Utilizing the general ledger, you may also streamline several disbursal and post-disbursal procedures including loan settlement, scheduling changes, and closing services.


Wish to know more about our services and software? Contact Us Now

We aim at inspiring students to dream more, learn more, do more, and become more in their respective journeys of life.

Jonathan Doe — Headmaster
Got software service from him. Its a excellent working experience. staff is very polite and educated. I must suggest suggest everyone to take service from them only.
Good work is done here regarding software, registration, compliance and Kalpna mam so caring for our clients
kajal thakur
kajal thakur
It was a great experience to work with onick experts. staff was very polite, responsive, and professional, overall I am very happy to work with onick experts and also willing to work with them. Thanks a lot to onick experts
sakshi sakshi
sakshi sakshi
Excellent services, supportive team,
Ruby Dubey
Ruby Dubey
Excellent followup and ownership of onick experts. Team is very polite or highly qualified. Amazing software they are provided.
rajput priya
rajput priya
advisor 2578
advisor 2578
Best consulting firm. Best software solution good service providers. Especially Sunita mam very talented consultant ever. Good experiences with them.
vimal singh
vimal singh
Wonderful experience with there software. My work became very easy after using Nidhi software. Great job of all team. Well done.
sakshi sharma
sakshi sharma
Thank you for helping in registration of nbfc company. Right guidance. Thanks taxhint, thank onickexperts. Doing great job. Finding a genuine and qualified consultant is difficult these days when everyone is running about money. Recommended services. RBI approval was very smooth due to good planning, suggestions and guidance of Amna ji and Sunita Ji.
Radhika chawla
Radhika chawla
Best place to start your fintech business. Specialized solutionsb taxhint group.


Ans.Banks provide education loans to students so they can finance higher education, such as graduation and postgraduate degrees, both in India and abroad. The education loan may also be used to pay for costs not directly related to tuition, such as hostel fees, equipment purchases, and other course-related expenses. A return ticket’s cost is frequently factored into the education loan amount when students are studying abroad.

Ans. All UGC-recognized courses in India and all regular courses taken abroad are eligible for an education loan. Each lender has a list of the colleges and programmes that they would lend money towards, whether they were in India or abroad.

Ans. Banks can finance up to 100 percent of the loan depending on the amount of MBA admission Education Loan and the category of the institute

Ans.Yes, a co-applicant is necessary for all full-time programmes. A parent/guardian or spouse may co-apply (if-married).

Ans. Yes, because student loans are just like other loans and must be returned in order to maintain a good CIBIL score, they can have a significant impact on your score. The only distinction might be that it will be paid once the student finishes the programme (education) and finds a job.

Ans. For the majority of lenders, the average loan term is between 5-7 years. For larger loan sums, certain lenders may provide a longer term of up to 15 years.

Ans. Banks typically lend money to cover up to 90% of educational costs, and some even do so for the full amount. However, a number of factors, such as the parent’s or legal guardian’s monthly income, the value of the offered collateral, the applicant’s academic standing, and others, determine the precise loan amount that an applicant is qualified for.

Ans. On school loans of up to or less than Rs. 4 lakhs, the majority of lenders don’t impose a margin. Banks and NBFCs have a margin of about 5% for larger loans up to 7.5 lakhs, which means they only lend money to cover 95% of the cost of the course and the applicant is responsible for the remaining 25%. Higher loan amounts may require the lender to impose margins on an individual basis in accordance with corporate standards.

Ans. Although each bank has its own requirements for qualifying, the following are some typical standards:

The applicant must be a citizen of India.

At the time of the loan application, the applicant must have received written confirmation of enrollment in a college or other educational facility.

The applicant should fall within the 16–35 age range.

A co-borrower, such as a parent, who serves as a guarantee for the loan should be included with the applicant.

For loans beyond Rs. 4 lakh, collateral in the form of a fixed deposit, etc., is required.

Q10.What documentation does the lending bank require?

Ans.  Documents that are to be submitted with the education loan application include:


Letters and documents confirming admission and attesting that the candidate is eligible for any scholarships.

A list of the course’s costs, including tuition and additional costs, is provided.

Score report for the prerequisite exam (s).

copies of the student visa or foreign exchange permission for studies abroad.

Last six months’ worth of bank account statements. (May be held jointly with a parent or legal guardian)

Statement of Borrower’s Assets and Liabilities

Age verification

a residency permit and two passport-size photos

For student loans over Rs. 4 lakhs, collateral-related documentation is necessary.

Ans. Loans for education can be used to pay for:


Tuition fees and hostel expenses

Exam, library, and lab fees if applicable

Any refundable caution deposits paid to the educational institute

Cost of books, uniforms, and other essentials for completion of course

Travel expenses (return fare for international flights.

Ans.  Banks typically lend money to cover up to 90% of educational costs, and some even do so for the full amount. However, a number of factors, such as the parent’s or legal guardian’s monthly income, the value of the offered collateral, the applicant’s academic standing, and others, determine the precise loan amount that an applicant is qualified for.

Ans. The amount of collateral required varies from bank to bank, however the general norm is as follows:


No collateral or third party guarantee is needed for loans under Rs. 4 lakh.

Collateral is not necessary for loans between Rs. 4 lakh and Rs. 7.5 lakh, but a third-party guarantee is.

Collateral is required for loans worth more than Rs. 7.5 lakh. LIC/NSC/KVP, Fixed Deposits held with the Lender, Property Documents Owned by the Applicant or Co-Signor are a few of the major types of Collateral accepted by Banks.


Ans. Some banks carry out independent verification of the cosigner’s employment history, which often consists of the student’s parent or guardian or spouse (if they are married). The prospective lender may reject the loan application if the submitted information cannot be verified.

Ans.  Under Section 80E of the Income Tax Act, loan borrowers can receive tax benefits on interest paid on school loans. This advantage is available in addition to the Section 80C deduction of Rs. 150,000. Once the borrower begins repaying the interest on the college loan, tax benefits may be obtained. Additionally, the deduction is accessible for a maximum of 8 years or until the borrower pays off the entire loan’s interest amount.

Ans.  The majority of banks don’t charge prepayment penalties for student loans. But before you put your name on the dotted line, it is best to check with the bank.

Ans.  An significant requirement in the past was having a bank account with the institution from whom the borrower hoped to obtain a loan. It’s no longer a criteria that must be met. It is typically simpler to obtain the loan approved if you have an account with the specific bank. Your prior contact with the bank makes it possible to analyse your financial history and past transactions more quickly for decision-making.

Ans. This is indeed feasible. You can take out a loan for your bachelor’s and then a loan for your master’s without having to pay back the previous debt. This loan may be used as a top-up loan for an existing loan, however doing so is at the discretion of the lending bank and is subject to any internal rules and regulations of the lender.

Ans. The student repays the loan directly to the educational institution in local currency, such as dollars, pounds, or euros. According to RBI guidelines, the lender may add a further currency conversion fee to the loan amount granted.

Ans. The eligibility requirements and loan margins for students from Scheduled Castes and Scheduled Tribes in India are indeed lowered. For SC/ST category students seeking education loans for graduate and post graduate degrees, the qualifying requirements are dropped from first/second class to pass class, while margin money is occasionally lower than the standard % or none.

Ans. Requests from NRIs may be taken into consideration :


If Student is an Indian passport holder and meets all the eligibility requirements


Documents such as security or any collateral which is enforceable in India can be handed over to the bank.

Ans.  Banks typically prefer that borrowers obtain life insurance coverage equal to or more than the loan amount. The insurance policy serves as a security measure and is considered collateral. In the event of the borrower’s untimely death, the bank gets reimbursed for the outstanding loan balance from the student’s life insurance policy, and any residual balance is given to the policy’s beneficiary.

Ans.  The majority of students who apply for student loans have no history of borrowing money or using credit cards. As a result, lenders who specialise in education loans have a unique credit scoring algorithm that evaluates loan applications depending on the university, college, and course of entry. They base their choice on the co-credit borrower’s history as well as the student’s academic background.

Ans.  You can indeed prepay your debt at any moment. There are no fees associated with prepayment.

Ans. Candidates taking postgraduate courses who have three or more years of experience may submit a loan application with a non-financial co-applicant.

Ans. Within 15 working days of receiving the required documentation, the loan will be disbursed.