Question 1

What is the Yes Bank education loan interest rate?

Accepted Answer

The Yes Bank education loan interest rate ranges between 11.25% and 12.50%. If you want your ROI to be as low as 11.25%, contact Student Cover, and our loan buddies will ensure that you get the same.

Question 2

Can students get a Yes Bank education loan without collateral?

Accepted Answer

Yes, students can get a Yes Bank education loan without collateral. The unsecured loan amount ranges up to INR 75 Lakh, and if you want the maximum amount, contact Student Cover for the same.

Question 3

When does Yes Bank offer an education loan without requiring collateral?

Accepted Answer

Yes Bank offers an education loan without collateral if you have high academic records, a high credit score, and a co-applicant with a high credit score.

Question 4

When does Yes Bank's education loan repayment start?

Accepted Answer

Yes Bank education loan repayment starts after 1 year of course completion. During this one year, you are expected to find a suitable job that would help you repay the amount.

Question 5

Can I get a lower interest rate if I have good grades?

Accepted Answer

If you have good grades and a good credit score, you will get lower interest rates on your loan. If your co-applicant also has a good credit score, that further helps lower the interest rate. In case of confusion, get in touch with Student Cover's loan buddies, and they will help you lower your interest rate.

Question 6

Is there a flexible repayment option if I'm still looking for a job after graduation?

Accepted Answer

You do not have to worry about loan repayment right after your course completion. Once your education is complete, you get a grace period of 1 more year, after which your repayment journey begins.

Question 7

What makes your education loan better than others?

Accepted Answer

Student Cover offers several advantages: no cosigner is required, so students can apply independently without needing a guarantor; multiple lenders are available on one platform, allowing comparison of offers from various trusted lenders to save time and ensure the best deal; solutions are tailored for students, with customized options that better address student needs; the approval process is faster thanks to streamlined digital processes and partnerships; and rates and terms are competitive, with a wide range of loan options offering better interest rates, flexible repayment terms, and less rigid eligibility criteria.

Question 8

Can I prepay the loan early if I get a good job? Will there be extra charges?

Accepted Answer

Yes, you can prepay your student loan early if you want. In most instances, Student Cover's partner lenders have no or very low prepayment penalties. Conditions may differ based on the lender you select, but in general, early repayment is welcomed to help you save on interest. It is best to verify the specific prepayment policy during the loan agreement period with your Student Cover loan buddy for clear insight.

Question 9

Does making inquiries with many lenders affect the CIBIL score?

Accepted Answer

If you compare several lenders individually, each hard check might decrease your credit score by a small amount. However, when you compare several lenders through Student Cover's platform simultaneously, it tends to be treated as a soft check, which does not affect your credit score. This way, you can explore your options without hurting your credit record.

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