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Choosing between Private and Government Education Loans

Choosing between Private and Government Education Loans

Planning to apply abroad and stressed about your education loan application? Keep reading to find out the difference between private vs government-backed education loans for abroad.   Education loans offered by private vs government-backed banks differ in interest rates, moratorium periods, processing costs, and payout, are different.  Government banks are those where the government itself holds the majority of the bank's stock, as opposed to private banks, where the majority of shares are held by shareholders. State Bank of India, Bank of Baroda, Bank of India, and the Central Bank of India is the government banks whereas ICICI Bank, Axis Bank, and HDFC Bank fall in the category of private banks. Government banks vs. private banks  Quantum of Finance: Secured education loans and unsecured education loans are the two main divisions of overseas student loans. Government banks like SBI and BOB can provide up to 1.5 Crore in financing for secured education loans, but private banks like Axis Bank and ICICI Bank can provide financing ranging from 75 lakhs to 1 Cr. The amount of funding for unsecured overseas education loans is up to 7.5 lakhs for government banks and up to 40 lakhs for private banks.  Rate of Interest: Both public and private banks have different rates of interest. Private banks have a higher return on investment than government banks. The interest rates offered by the State Bank of India and Bank of Baroda for loans for international education are 8.5% to 9.5%. For secured education loans from private banks like Axis Bank and ICICI Bank, the interest rate ranges from 9% to 10%, and for unsecured education loans from 11% to 13%.  Processing Time: Government banks process loans for international education in up to three weeks, whilst private banks process loans in up to ten days. This is one of the reasons we suggest applicants apply for international student loans at least three months before the program's start date.  Processing Fees: Compared to government banks like SBI, BOB, BOI, etc., the processing fees levied by private banks like ICICI Bank and Axis Bank are greater. To be precise, processing fees charged by government banks are 10,000 + GST, whereas fees charged by commercial banks might reach 1% of the total amount of the student loan.  Disbursement: The sum of the education loan is disbursed to the appropriate university's bank account by both public and private banks. These banks send the money into the currency card that is issued by the same institution that provided the loan in order to pay for living expenses.  Repayment Tenure: This refers to the length of time that the applicant has to pay back the financial institution for the student loan in Equated Monthly Instalments (EMIs). After the moratorium period is up, the education loan EMIs start. Government and private banks both provide up to 15 years for repayment.  Moratorium period: The moratorium period is the portion of the loan term during which the applicant for an international education loan is exempt from making any loan payments to the financial institution. In other words, lending institutions provide students with a waiting time of between 6 and 12 months. For government banks, the moratorium term is up to 12 months, whereas it is up to 6 months for private banks.  Serving Simple Interest: After an overseas education loan has been disbursed, serving Simple Interest for government banks is optional, however serving Simple Interest for private banks is required.  Age Restrictions: Applicants between the ages of 18 and 35 are eligible for loans from both public and private banks for international education. To qualify for an education loan from these banks, applicants over 35 must have a solid academic and financial background.  Tax Benefits: Under section 80E, financial institutions of both the private and public sectors are qualified to receive tax benefits.  Conclusion These are some of the key factors that should be taken into account when selecting an appropriate financial institution for an education loan for studying abroad. Both public and private banks have advantages and disadvantages.  Consult an expert advisor to get the right plan TALK TO AN EXPERT
How to manage the rising school fees for your child?

How to manage the rising school fees for your child?

Every year, schools increase their annual fees in India. The average school fees in India range between Rs. 50,000 to 1,00,000 per annum. The increase in response to the rising cost of all goods and services (that is the result of education inflation!). It’s tough to keep up with these costs, especially in a competitive world where your child deserves all the advantages they can amass. Since education is unavoidable and an integral aspect of a child’s development, here are some tips to save for your child’s school fees. 5 ways to save for your kid's dream college! https://www.youtube.com/shorts/N6RKPu_zoY8 1. Cut costs and budget Cost cutting and budgeting is the first step to saving. Create a monthly budget, and find out how much you need to cover your major expenses like rent, utilities, emails, travel, and food. Once you know where your money is going, you will be able to control your expenses and figure out the areas where you overspend and where you can cut costs! Removing small expenses from your budget can make a huge difference in your overall budget. Cost of School Education in India Read More 2. Government schemes and scholarships Another way to deal with the rising school fees is to make use of government scholarships and schemes. Schemes like the PM Young Achievers Scholarship Award Scheme (Yasasvi), Beti Bachao Beti Padhao schemes, and Girls Hostel Scheme for available for young children and encourage them to access quality education. There are other schemes like sibling discounts that private schools may offer if you enroll more than one child at their schools, this can either be in the form of fee waivers or concessions. Apply for Scholarships 3. Passive income Creating passive income is a great way to save up for your child’s school fees. Passive incomes can help you take care of small and big expenses Some quick ways to generate a passive income stream is by renting a spare room, apartment floor, or your car. Take up consultancy jobs or freelancing to create a secondary income that can over time become a passive income for you and your family. 4. Stocks: Indian and US Investing is another option for parents whose children are in school. Investing in stocks can help you expand your savings and beat inflation. Investing in us stocks offers even more benefits – it is an opportunity to invest in big companies with global reach and get returns in dollars. Stocks are risky instruments and the potential to gain is as high as loss – understand the risk and consult professionals before investing your life savings. 5. Mutual Funds Mutual funds are a great way to save up for the future education is a definite event and you need to save for a child’s fees. Mutual funds offer great returns and are highly liquid-able which means you can withdraw your money whenever you want but be aware of the exit fees that may be charged on premature exit. Consult a professional to find out the best mutual funds, and explain your time horizon, risk appetite, and how much you can spare monthly. Once you know these answers, you can invest in the funds based on your financial goals! Start Investing in Mutual Funds 6. Public provident funds It's always good to balance your portfolio. If you are investing in risky instruments then consider tools like PPF, FDs, or RDs to save up some school fees or other expenses. You can use the interest generated on these instruments to pay for certain expenses. These are risk-free investments with fixed interest rates which makes them ideal for long-term risk-averse individuals! To avoid financial worries later, start saving sooner! Connect with the best advisors from EduFund to make saving and investing easier for your child’s higher education. https://www.youtube.com/watch?v=OQlg-E5rhBM&t=4s FAQs How to save for your kid's school fees? There are many ways to save for your kid's school fees. Some of them are investing for your child's education expenses, you can use mutual funds, US stocks, and Indian stocks, and even opt for FDs and PPF schemes. Another is to look for schemes and scholarships that can help you reduce the cost of studying at schools and colleges. Why are school fees increasing rapidly? The reason why school fees are rising is due to education inflation, privatization, lack of government control, demand for private schools, and high competition. As Ashneer Grover said, the demand for coveted schools is higher than the current supply, which gives existing schools an advantage in terms of raising their fees and demanding high annual tuition every year. What is the best way to save for your child's school? The best way is to start a SIP in a mutual fund that can help you manage the costs of your child's education. EduFund offers class-wise buckets for saving for school fees. So if your child is in 5th grade and you want to invest then you can choose the 5th grade investment bucket designed by experts and start saving.
Cost of studying MS in the USA

Cost of studying MS in the USA

The USA is considered one of the most expensive destinations in the world. The most popular course is MS in the USA. In this blog, we've covered all you need to know regarding the cost of studying MS in the USA. The number of credits required for the course and the type of university determines how much an MS in the USA costs (private or public).  An MS program must have 30 hours of credit hours as a minimum. The typical cost of pursuing an MS in the USA ranges from USD 30,000 USD to USD 1,20,000 (INR 22.7 – INR 90.9 Lakhs). Additionally, it differs from one institution to another. Top universities in the USA to pursue MS Top UniversitiesTuition Fee in INRHarvard University41.5 lakhsStanford University28 lakhs- 41 lakhsYale University33 lakhs- 40 lakhsColumbia University28 lakhs- 60 lakhsDuke University43 lakhsMIT64.92 lakhsUniversity of California, Berkeley24 lakhsCornell University14 lakhsCalifornia Institute of Technology46 lakhsPrinceton University36 lakhsUniversity of Chicago42 lakhs 1. Cost of living in the USA  Planning to study abroad requires setting up money for living expenditures including rent or mortgage, food, transport, and shopping, among other things. The incidental costs resulting from your lifestyle choices are what make the most impact when you consider how expensive studying in the US may be. Type of ExpenseCost Per Month in INRHousing Expense70,000 - 1.48 lakhsFood Expenses2,200 - 3,000/ mealTravel Expenses7,398 - 22,194Health Insurance33,000 - 51,000Miscellaneous Expenses22,000 - 44,000 2. Cheap universities to study MS in the USA  There are several economic institutions in the United States for students on a tight budget. Here is a list of a few American colleges that charge master's degree candidates tuition that is relatively reasonable: UniversitiesTuition Fee in INRAlabama State University14.22 lakhsUniversity of North Carolina15 lakhsUniversity of Minnesota21.20 lakhsPurdue University10.88 lakhsFlorida State University15.90 lakhs EduFund Cost Calculator Best MS courses to study in the USA The course you choose to take will rely on a number of variables, including your area of interest, potential career paths, the course structure and content, length, and overall cost for an MS in the USA. The following are some of the top programs to enroll in the USA in 2023. MS in Cyber Security MBA Master of Science in Information Systems MS in Computer Graphics Technology Master of Science in Materials Science and Engineering MS in Information Systems Management Master of Science in Data Science Master of Science in Civil Engineering Master of Science in Computer Science MA in Animation Eligibility for studying MS in the USA Depending on the university and course you want to pursue, there may be different qualifying criteria to study MS in the USA. However, the following requirements must be satisfied generally for you to be qualified to pursue your MS in the USA: The candidates must have completed their master's degree at a reputable school in a related discipline with a minimum average GPA of 3.5. Must have a good GRE score. Students from other countries must have passed one of the English language competency tests. TOEFL and IELTS are recommended. As an undergraduate, the candidate must have had relevant professional experience. Experience is said to be gained through field internships Different investment options to fund your child's cost of studying MS in the USA There are several investment opportunities to help pay for your child's MS studies in the United States. Fixed deposits and other traditional products might not be enough to cover your child's educational costs. It is crucial to take other products into account, such as shares, balanced funds, and equity funds. You can select one of the following investment techniques based on your time frame: If your child will want the money within five years, debt mutual funds are the best choice. Such funds have the ability to produce returns that are higher than the rate of inflation while also supplying liquidity. For long-term objectives, you can combine several financial instruments. US stocks and ETFs, gold, equities, and debt are all investment options available to you. Buying stocks gives investors the chance to eventually generate more money, even if exposure to the stock market may be dangerous. One of the best investment alternatives for supporting a child's education is the PPF. To amass significant wealth, you must begin this early and invest consistently. A variety of child-focused services are offered by several insurance companies. When your kid needs the money to pay for higher schooling, you could opt to set more responsible regulations in place. Children's investment plans can assist you in preparing financially for rising education costs, unexpected illnesses, and unfortunate circumstances. As soon as you can, you should start making plans for your child's future. By doing this, the associated risks are dispersed and your assets have more time to grow. Consult an expert advisor to get the right plan TALK TO AN EXPERT
Scholarships for MBA in India

Scholarships for MBA in India

Specially tailored scholarships for MBA in India have been a blessing for students pursuing the Master of Business Administration degree.  MBA is an advanced degree course with a high fee structure that varies between INR 16 lakh to INR 27 lakh for the entire course. Generally, students studying for an MBA degree need financial aid to pay for their courses.  Applying for an MBA Scholarship will reduce education costs and help learners to avoid significant loan debt to a great extent. What is an MBA scholarship? An MBA scholarship is a type of financial assistance provided to students who are interested in pursuing an MBA degree course.  MBA Scholarships are often based on academic scores, overall performance, and financial circumstances of a family because it is difficult to arrange the required amount of money for a common person.  MBA scholarships and fellowships are generally merit-based or identity-based and do not require repayment from the students. This monetary aid acts as a strong incentive for students who are good at studies and want to follow the MBA course but are unable to do so because of the high fee structure. Types of MBA Scholarships in India 1. Institute-based MBA Scholarship Institute-based MBA Scholarships are offered by the MBA institutes. It is based on merit and considers previous academic results and the overall performance of the student during the ongoing degree course. Some of these scholarships are also merit-cum-need based as it considers both academic records and the need for financial aid of the student pursuing an MBA degree. 2. Corporate-sponsored MBA Scholarship Corporate Sponsored MBA Scholarship is offered by companies at reputed institutes. These are often started by alumni students who want to help aspiring students in getting an MBA degree.  3. Bank-sponsored MBA Scholarship Bank Sponsored MBA Scholarships are offered by specific banks to students who have excelled in their studies and whose family income does not exceed more than INR 6 lakhs per annum.  4. Government-sponsored MBA Scholarship Government Sponsored MBA Scholarships are provided by government-led institutions like IIMs to aspiring MBA students who belong to backward classes like ST, OBC, or SC. MBA scholarships in India: List of Top 5 Scholarships 1. PNB Housing Finance Protsahan Scholarship PNB Housing Finance Protsahan Scholarship, offered by PNB Housing Finance Limited, is a merit-need-based scholarship program for 1st-year students enrolled in MBA/PGDM study courses.  The application timeline is December to February, and the scholarship amount is INR 2 lakhs. Applicants with a family income of less or equal to INR 8 lakh and minimum marks of 65% in class-12 and UG studies who want to study in either BIMTECH (Greater Noida), IMT Nagpur, or Indira Institute of Management, Pune can apply.  2. Aditya Birla Group Scholarship Aditya Birla Group Scholarship is a corporate-sponsored MBA scholarship offered by Aditya Birla Group for students who want to pursue an MBA degree at IIMs Ahmedabad, Bangalore, Calcutta, Lucknow, Indore, Kozhikode, Indore, Shillong, and XLRI Jamshedpur.  The top 20 students, based on the ranking of entrance exams, can apply for this INR 1.75 lakh MBA scholarship. 3. IDFC First Bank Scholarship IDFC First Bank Scholarship is a need-based bank-sponsored MBA scholarship offered by IDFC First Bank to students enrolled in the 1st year of a full-time MBA study course.  Only students with an annual family income of equal to or less than INR 6 lakhs who want to pursue the course in the list of colleges given by the program can apply. The financial aid is INR 1.0 lakh per annum throughout the MBA program.  4. IIM Ahmedabad MBA Scholarship IIM Ahmedabad MBA Scholarship provides several scholarships to aspiring students. IIMA Special Needs Scholarship is for students pursuing a postgraduate program with a family income below INR 15 lakhs.  The financial aid for each applicant is determined by the IIM-A authorities based on several criteria.  5. IIM Bangalore MBA Scholarships IIM Bangalore MBA Scholarships are offered to PGP students with a family income of less than INR 6 lakhs.  Citi Women’s Leader Award is a scholarship program in IIM Bangalore only for girl students studying for the MBA course. Students are selected at the end of 1st year from the top 25% in their class. The final call is taken by CitiGroup after one-on-one interviews with the ambitious students.  Conclusion  An MBA degree is not just a degree course but a promise of a good career for aspiring students, but it comes at a great cost as the degree is very expensive. Scholarships for MBA in India help to fulfill the dreams of many students deserving a better chance at life through the study course.  Consult an expert advisor to get the right plan TALK TO AN EXPERT
Cost of studying medicine in Europe

Cost of studying medicine in Europe

Many students seek out other nations to complete their medical degrees, especially in Europe. The cost of studying medicine in Europe is surprisingly more reasonable than in India. Many private universities in India charge nearly 40 to 50 lakhs per annum for a medical degree. In comparison to this, several European nations with their inexpensive medical education have emerged as promising choices for these students.  European institutions are a popular choice among students due to their cutting-edge facilities and academically outstanding professors. In this blog, we've discussed the cost of studying medicine in Europe. Cost of studying medicine in Europe One of the biggest benefits of studying MBBS in Europe is the ability to save money with European medical education while still receiving an excellent education. The approximate cost of an MBBS in Europe in Indian rupees is as follows. UniversityFees/YearEuropean University5000 USD (INR 3.7 lakhs)Lviv National Medical University4900 USD (INR 3.6 lakhs)Ivane Javakhishvili Tbilisi Medical University6000 USD (INR 4.4 lakhs)Taras Shevchenko National University6000 USD (INR 4.4 lakhs)Bogomolets National Medical University5500 USD (INR 4.07 lakhs)Gdansk Medical University12,000 USD (INR 8.8 lakhs) Now, when it comes to living expenses while studying in Europe, they might change depending on the nation you have selected as well as the place where you will be residing. Following is the average cost of living in Europe. CountryAverage Living Costs to Study in Europe (Per year)Belgium10,200 -11,400 EUR (8.56 - 9.57 lakhs INR approx.)Netherlands9,600 -13,200 EUR (8.6 - 11.8 lakhs INR approx.)Austria11,400 EUR (9.57 lakhs INR approx.)Denmark14,400 EUR (12.9 lakhs INR approx.)Ireland12,000 EUR (10.7 lakhs INR approx.)Finland9,600 EUR (8,6 lakhs INR approx.)France9,900 EUR (8.3 lakhs INR approx.)Germany10,200 EUR (8.56 lakhs INR approx.)UK12,180 EUR (10.22 lakhs INR approx.)SwitzerlandCHF 22,734 (18.02 lakhs INR approx.)NorwayNOK 139,680 (10.78 lakhs INR approx.)Spain10,800 - 13,200 EUR (9.05 - 11.07 lakhs INR approx.)RussiaRUB 242,160 (2.51 lakhs INR approx.)SwedenSEK 96,000 (99,600 INR approx.)Note: The given figures are projections and can be reduced or increased by the universities and countries. Please always cross-check with the official websites at the time of admission. Top courses offered by European medical universities The top programs provided by European medical colleges are listed below. CoursesDurationMBBS/ MD6 yearsDentistry5 yearsPharmacy4 yearsNursing4 years Eligibility criteria for studying medicine in Europe The fundamental qualifying requirements for studying medicine in Europe vary depending on the program; we have listed the basic eligibility criteria for studying medicine in Europe below: You must be at least 17 years old on December 31 of the admittance year or older. The 10+2 standard test must be passed with a scientific degree. You must have Physics, Chemistry, Biology, and English as subjects in 12th grade. Additionally, you must receive at least a 50% on your 12th-grade exam. In order to apply for MBBS in Europe, you must pass the NEET test. At the time of admission, all original documentation must be shown. Top Universities to study medicine in Europe  If you want to enroll in one of the next intakes, these are the top universities in Europe for medical studies: Ivane Javakhishvili Tbilisi Medical University European University Taras Shevchenko National University Bogomolets National Medical University Lviv National Medical University Gdansk Medical University Different investment options to fund your child's cost of studying medicine in Europe There are several investment opportunities to help pay for your child's medical studies in Europe. Fixed deposits and other traditional products might not be enough to cover your child's educational costs. It is crucial to take other products into account, such as shares, balanced funds, and equity funds. You can select one of the following investment techniques based on your time frame: If your child will want the money within five years, debt mutual funds are the best choice. Such funds have the ability to produce returns that are higher than the rate of inflation while also supplying liquidity. For long-term objectives, you can combine several financial instruments. Gold, equities, and debt are all investment options available to you. Buying stocks gives investors the chance to eventually generate more money, even if exposure to the stock market may be dangerous. One of the best investment alternatives for supporting a child's education is the PPF. To amass significant wealth, you must begin this early and invest consistently. A variety of Child-focused services are offered by several insurance companies. When your kid needs the money to pay for higher schooling, you could opt to set more responsible regulations in place. Children's investment plans can assist you in preparing financially for rising education costs, unexpected illnesses, and unfortunate circumstances. As soon as you can, you should start making plans for your child's future. By doing this, the associated risks are dispersed and your assets have more time to grow. Consult an expert advisor to get the right plan TALK TO AN EXPERT
How to use abroad education loans to study abroad?

How to use abroad education loans to study abroad?

Studying abroad can be a life-changing experience, but it can also be expensive. The cost of tuition, accommodation, travel, and other expenses can add up quickly, making it difficult for many students to make the most of this opportunity. Fortunately, there are abroad education loans that can help you finance your study abroad program or gap year. However, you have to understand that these loans are typically designed to support students who are pursuing a degree program, not those who are taking a gap year or participating in a study abroad program. So, if you're looking to use an abroad education loan to fund a non-degree program, you'll need to take a different approach. https://www.youtube.com/watch?v=4gTQkdePOWM The first step in securing an abroad education loan for a study abroad program or gap year is to research your options. Start by exploring different loan programs offered by private lenders, such as banks, credit unions, and online lenders. You may also be able to find scholarships and grants specifically for study abroad programs, so be sure to check with the host institution, study abroad organization, or government agency for information about funding opportunities. Once you have a list of potential loan programs, it's essential to compare their terms and conditions. Look at the interest rate, repayment terms, and any other fees or charges associated with the loan. Make sure you understand what the loan will cost in the long run, so you can make an informed decision. You should also consider any restrictions on how you can use the loan proceeds, such as restrictions on the type of program you can attend or the length of time you can spend abroad. When applying for an abroad education loan, you'll typically need to provide some basic information about yourself, including your name, date of birth, and contact information. You may also need to provide proof of your enrollment in a study abroad program or gap year program, such as a letter of acceptance or a letter from the host institution. You may also be asked to provide financial information, such as your income, expenses, and assets, to help the lender determine your ability to repay the loan. If you're approved for an abroad education loan, it's important to use the funds wisely. Make sure you use the loan proceeds to cover your necessary expenses, such as tuition, travel, and housing. Avoid using the loan for frivolous expenses, such as shopping or dining out, as these expenses can add up quickly and make it more difficult for you to repay the loan. When it comes to repaying your abroad education loan, you have to be proactive. Review your loan agreement carefully to understand your obligations, including the monthly payment amount and the due date. Make sure you have a budget in place that includes the loan payments, so you can stay on track and avoid falling behind. You may also want to consider setting up automatic payments so you never miss a payment. If you're having trouble repaying your abroad education loan, reach out to your lender as soon as possible. They may be able to work with you to find a solution, such as reducing your monthly payment or extending the repayment term. However, keep in mind that taking these steps can increase the overall cost of your loan, so always consider all of your options carefully. Tips for using education loans to fund your study abroad program or gap year Here are a few tips to help you make the most of your education loan and make your study abroad experience a success: 1. Plan ahead Start planning and researching your options as soon as possible to give yourself enough time to find the best loan for your needs and to get your application processed. 2. Be mindful of your budget Make a budget for your study abroad program or gap year and stick to it. This will help you avoid taking out more loans than you need and minimize the amount you need to repay later. 3. Consider a co-signer Some lenders ask you to provide a co-signer for the eligibility of the loan in case you are not qualified for it or there are some discrepancies. Conclusion  In conclusion, abroad education loans can be a valuable resource for students who are looking to fund a study abroad program or gap year. However, the cost of such programs can be a significant barrier for many students. Fortunately, there are education loans available to help you fund your study abroad program or gap year. Be sure to research your options, compare the terms and conditions of different loan programs, and use the funds wisely to make the most of it. In case you need more information or advice, EduFund’s team of financial advisors is always available for help. Consult an expert advisor to get the right plan TALK TO AN EXPERT
Education loan for MBA in India

Education loan for MBA in India

Education loans for MBAs in India can be easily found but applying for them is harder than you think. The process is rigorous and time-consuming. Here is everything you need to know about education loans for MBAs in India before you start preparing for your application.   Want help with your loan application? Click here to connect with our experts and apply for loans with multiple banks with one application!  Why an MBA education loan? MBA is considered one of the most expensive and career-altering courses in the world, it can cost you anywhere between 10 to 40 lakhs! Many students opt for an education loan for this program. This is because an education loan is the easiest and most efficient way to finance your MBA program without any added financial stress. It allows you to complete your education and start paying for the loan after the course is over. The interest rates are reasonably designed to help students and professionals pay off their loans over a period of time. Advantages of taking loans for college  Boost your pocket: An MBA school loan can make it possible for you to complete a degree that you otherwise might not have been able to afford.  Don’t miss opportunities: Without taking out a student loan, many students would be unable to pay the MBA course cost. It is a crucial investment that can boost your professional standing and open up new development prospects for you.  Nearly all of the expenses you'll pay while completing an MBA will be covered by your student loan, which offers almost 100% coverage.  Affordability: An MBA program might cost thousands of rupees. At IIMs, tuition prices range from INR 13 lakhs to INR 23 lakhs. The leading business schools charge between INR 10 lakh and INR 20 lakh in tuition. The cost of the student's personal expenses, project costs, and dorm fees should also be included. Therefore, if you want to feel confident and at peace, while enrolled, paying for an MBA program is just as important as being admitted. Alternative methods of Achieving Dreams  A spot in one of the best MBA colleges in India requires funding the program, which is a difficult task given the high cost of the curriculum. Therefore, whether an MBA is given in India or abroad, managing the program's funding through educational loans is the most common and effective option. List of National Banks that Provide MBA Education Loans  MBA education loans are available from a number of major banking organizations at competitive interest rates. Below are a few of the most important student loan programs offered by various financial organizations that can assist you in paying for your MBA programs:  State Bank of India  Canara Bank  Dena Bank   Punjab National Bank   Union Bank of India   Central Bank of India List of private banks and NBFCs providing loans for MBA education  In addition to the above-mentioned public institutions, one should look at what private banks and NBFCs have to offer. the following have been mentioned:  ICICI Bank   Axis Bank   Kotak Mahindra Bank  Charges paid for by Education Loan  Education loans help you cover a variety of expenses. From lab fees to tuition fees, they can help you cover financial woes easily. However, these loans only cover educational costs and are not for personal use. Some of the expenses paid for by the education loan are:  Fees due to the hostel and the college  Examinee costs  Library fees  Laboratory costs  Traveling costs (if pursuing MBA abroad)  If applicable, the student's insurance premium  Buying a laptop (if required for the course)  Other costs, such as travel for research, project work, or a thesis  Acquisition of books, tools, and instruments  Building fund, refundable deposit, and caution deposit  If you want to know how much loan you need to take and your eligibility, check it out here.  Documents needed to apply for an MBA Education Loan  Address and age verification if you do not already have a bank account  copies of the qualifying exam score reports (CAT, GMAT, IELTS, TOEFL, and others)  A schedule of the course's costs (course prospectus where the course fee is mentioned)  Statement of the borrower's or co-bank borrower's account for the previous six months  Income tax assessment orders for students or parents that are no older than two years  A concise list of the borrower's assets and liabilities  Copy of a passport Loan application in bank format  Evidence of enrollment in the course (in India or abroad)  Passport-sized pictures  Don’t let finances stop you from achieving your dreams, get an education loan to pay for your college with us!
Indian scholarships to study abroad

Indian scholarships to study abroad

Do you intend to study abroad and are an Indian student? There are many financial avenues to achieve this goal. Here are 7 Indian scholarships that help Indian students turn their dream of studying abroad into a reality.  Indian government provides financial aid to Indian students who want to pursue their aspirations of studying abroad. Some well-known Indian government scholarships for studying abroad are given below. Let's start!  1. Fullbright-Nehru master’s scholarships  The Fulbright- Nehru Master’s Fellowships can be claimed by talented and determined Indian scholars with applicable work experience. These scholars need to display significant rates of leadership, in addition to work experience and academic qualifications.  It's a merit-grounded and need-grounded program offered by the United States- India Educational Foundation. Please note that the quantum is variable and can be renewed yearly.  Coverage of accident and sickness costs as per the United States government guidelines. also, this education also funds the round-trip frugality class chow.  scholars who have completed a degree fellow to the United States bachelorette’s degree are eligible to admit this education. This includes the completion of a four-time bachelorette’s program, master’s program, or postgraduate parchment. 2. Great Wall Program  Learn about The Great Wall Program if you're interested in pursuing higher education in China. You can achieve it with the help of this scholarship.  You should be aware of a few things regarding this government scholarship for studying abroad. Among them are:  First, this scholarship will cover the cost of tuition, a regular stipend, health insurance, and housing.  Second, applicants for this scholarship must be under 45 years old and have a bachelor's, master's, or comparable degree.  Last but not least, UNESCO created this government scholarship program for academics and students looking for financial support to study and conduct research in China. 3. The JN Tata Endowment Scholarship  If you want to pursue a degree at a global university, you are eligible for this government award for students.  Depending on whether the student meets the eligibility requirements, the scholarship amount may range from INR 1,000,000 to INR 10,000,000.  A gift scholarship worth INR 75,000 can also be suggested for students. Based on the student's academic standing at their university, gift scholarships may be given. However, you must pay back the scholarship money in equal payments of 20%. Repayment can start if you're a resident between both the third and seventh years of your stay. You will have to start paying back the government scholarship money if you start working before your third year.  4. Aga Khan Foundation International Scholarship Program  Students have a wonderful opportunity to study at institutions in Portugal, France, the United Kingdom, Canada, and the United States thanks to the Aga Khan Foundation Scholarships. As a result, it is among the most sought-after government scholarships offered by India for international study.   Even so, when applying for this govt full scholarship overseas, there are some points to bear in mind. Students who apply for this award will receive a 50/50 loan and grant. Most applicants for the master's programs are given preference. However, you might need to look into other scholarship options for short-term programs like certifications and postgraduate degrees.  The demonstration of continuous intellectual effort and achievement is one of the qualifying criteria for this scholarship program.  5. Lady Meherbai D Tata Education Trust Scholarship  The Lady Meherbai D Tata Education Trust Scholarship stands out since it is designed exclusively for Indian women. Students now have a great chance to continue their academic education at an academic institution abroad.  If you're planning to qualify for this scholarship, read the following information. This scholarship can be used for Masters-level courses in places including the United States, the United Kingdom, and Europe.  You should have at least two years of professional experience in your chosen industry.  Proof of financial status is another crucial document needed to be eligible for this government scholarship FAQs How can an Indian student get a scholarship to study abroad? There are many ways to get a scholarship to study abroad. One of the most common is academic excellence, Many scholarships have eligibility criteria where they evaluate students based on merit and check their overall academic performance before selecting them. The most common selection parameters are 12th board exam results, IELTS/TOEFL scores, extracurriculars, SOP, and LORs submitted by the candidates. Interviews play an important role in the selection process. How can I get a 100% scholarship to study abroad? To win a 100% scholarship to study abroad you need an excellent academic history and an overall high-caliber resume. Many scholarships like Fulbright or Rhodes offer 100% scholarships, you can apply for them and get your ticket to your dream school. Which scholarship is best for Indian students to study abroad? There are many scholarships for Indian students to study abroad such as: Fullbright-Nehru master’s scholarships Great Wall Program The JN Tata Endowment Scholarship Aga Khan Foundation International Scholarship Program Lady Meherbai D Tata Education Trust Scholarship Consult an expert advisor to get the right plan TALK TO AN EXPERT
Abroad education loan process

Abroad education loan process

The abroad education loan process can prove tricky if you are not aware of the intricate details about the steps involved in the procedure, for example, how to apply, the documents that need to be submitted, and the time to get the loan process approved.  Education loans are one of the common sources of funding education abroad in recent times. As education inflation is reaching new heights and education costs are rising day by day, one can consider applying for education loans to support their already existing savings. An overview of the abroad education loan process Each year thousands of students apply for an abroad education loan as they want to pursue further studies at top universities of the world. The biggest challenge is arranging funds through education loans, as the cost of studying and living abroad is very high.  Students in India can apply for secured education loans from government banks, private banks, PSU banks, and unsecured loans from non-banking financial corporations. Students also have the option of getting education loans from foreign banks that offer loans to non-native students for global education. How to apply for an abroad education loan process? Fill out the online application form provided by the bank that you have shortlisted for the education loan. Visit the bank and confirm all the documents that will be needed by the bank for forwarding the loan process further. Gather all the required documents in a file and submit them to the proper authority in the bank. Enquire about the lawyer and valuator and get the legal opinion and valuation report from the lawyer and valuator, respectively, which will be later submitted to the bank by the valuator. The complete documents are then sent to the loan processing cell, and the processing officers go through the submitted documents and verify the loan application. The bank then sanctions the loan, and the loan applicant will have to visit the bank and sign all the necessary documents.  Post visa approval, applicants will have to revisit the bank and complete the property mortgage process if any property has been mortgaged against the loan.  Funds are disbursed after signing a disbursement agreement.  Applying for an abroad education loan through the Edufund app is simple. Submit all the documents and the loan application form once you have received the offer letter from a university. As soon as you clear the eligibility criteria, the loan gets approved, and you can sign the loan agreement. Documents required for applying for abroad education loan process The financial institution where you have applied for the abroad loan application will require details of the applicant and the co-applicant.   Properly-filled application form. Documents confirming identity details and residence proof of the applicant and co-applicant. It can be a passport, voter ID, pan card, driving license, or Aadhar card that would show personal details and current address. Passport-size photographs of both the applicant and the co-applicant Academic documents of the applicant that depicts the total academic and professional experience.  This includes mark sheets and certificates of class – 12, graduation, and the results of the admission test that the applicant has taken, like SAT, TOEFL, LSAT, GMAT, IELTS, or GRE.  The acceptance letter that the applicant has received from the university is the admission proof for studying abroad. Last six months' bank statements of the applicant and the co-applicant. Income proof of the co-applicant that shows that they are capable of fulfilling the terms of loan payment in case the applicant is unable to do so. In the case of collateral, the property title deed, building approved plan and NOC for a mortgage from the builder is needed.  Time required to get the loan process approved It takes nearly 45 days to 2 months to start the processing for the submitted loan application. Edufund has tied up with several top banks in the country and can process the loan in comparatively fewer days. The experts associated with the app will negotiate on your behalf and get the best possible offer on loan rates.  Conclusions  Students who are aware of the various steps involved in the abroad education loan process can plan, prepare and take full advantage of the knowledge so that the application process for the loan procedure is smooth, fast, and quick.  Take the help of the experts on the Edufund app to choose the best possible education loans with top banks. Qualified counselors will help to make the process smooth and easy and ensure that the education loan is available on time at the best possible rates. There are no hidden costs and zero commission, which will help to save on unnecessary fees.  Consult an expert advisor to get the right plan TALK TO AN EXPERT
5 ways you can save up for your child’s education

5 ways you can save up for your child’s education

In this blog, we will explore the best ways to save for your child's education! Education in India is viewed as a stepping stone to a good future. ‍The race to get children into the best colleges is so keenly fought that every Indian parent can qualify for a role of an expert counselor. The “padhai karo, nahi tho achchi Naukri kaise lagegi” line is so often heard that it could very well replace the “so jao, varna gabbar aa jayega” line. ‍The belief that a good education will provide for a good life, is entrenched in the way we think. Indian parents are willing to go to lengths to provide their children with the best education and are ready to spend as much as it takes. Many parents start saving when their child is very young, to prepare for future college-related expenses. ‍In this blog, we will look at 5 avenues where Indian parents can consider investing their hard-earned money. 5 Best ways to save for your child's education Your child's education does not deserve to be compromised and here are some ways in which you can plan ahead and start taking small steps toward your child's college fund. ‍Let's get started. ‍1. Investing in Mutual Funds We're sure you have heard of the phrase 'mutual funds' Sahi hai! And when it comes to saving up for long-term investments, mutual funds definitely Sahi hai! ‍Investing in mutual funds as a way to build a corpus fund for a particular goal has gained a lot of interest in the past decade or so. Building a retirement fund or a home purchase fund is very common and a small percentage of investors are also parents keen on saving up for their child’s education. Investing in mutual funds is viewed as a potentially high-return investment with the risk involved since the returns on mutual funds are market-related. Markets have been extremely volatile in the recent past, but mutual funds should still form a large part of an education fund, considering the longer time horizon involved. It is possible to invest as per your risk preference and redemption is far easier when you need the money. With Systematic Investment Plans (SIPs) that give you the option of investing monthly, there is a possibility of better returns compared to one-time/lumpsum investment mutual funds, especially over longer investment periods.   INVEST IN MUTUAL FUNDS 2. Exchange Traded Funds (ETFs) ‍For those of you who are unfamiliar with the concept of ETF, it is basically a basket of securities that is traded on an exchange. They are similar to mutual funds. ‍Investing in ETFs can prove to be a successful investment option when saving up for your child's education. The reason is, that you will be investing your money in dollars, therefore, if your child aspires to pursue his/ her education abroad, the dollar holds more value than many other currencies. INVEST IN ETFs 3. Buying Insurance Plans Buying an insurance plan to provide income security to your child is also an option. Many of these so-called child plans provide insurance cover and also market-linked returns after a fixed tenure. ‍However, returns on these plans have been volatile and impacted by frequent regulatory changes. Also, child insurance policies may not be the best investment option, because they are bound by various terms and conditions. 4. Buying Real-Estate Yes, this holds true for parents trying to save up for their children even today. Real Estate is considered by many, to be a good long-term investment. Since the time horizon that parents should consider is 15-20 years, real estate investments are good to maintain a diversified portfolio. But, real estate has lost its sheen as an attractive investment option over the past decade or so, due to excess inventory and regulatory impacts. ‍There are a number of hassles when investing in real estate. Other than the declining returns – unreliable deals, possible legal tangles, and a high wait time when one wants to sell are some of the factors to consider if this is an investment option for you. 5. Investing in PPF In India, the Public Provident Fund, or PPF is the go-to option for many parents when investing in their child’s future. It is a low-risk option that is exempt from tax on the withdrawal. The returns are lower but predictable. However, there is a limit to the amount of money one can invest through this route – the upper limit is Rs. 1,50,000, annually. PPFs are also less suited when an investor is ready to take more risk and willing to invest in market-linked funds. FAQs How can we save for children's education? Ans. Investing in mutual funds, exchange-traded funds, buying insurance plans, buying real estate, investing in PPF.  What is a good educational plan? A solid educational plan will give your family and you a road map for your future educational and professional objectives. Although parents and kids are free to start as early as they'd like, planning for college and technical training at the middle school level is not too early.  What is the best savings plan for a child? Ans. Sukanya Samriddhi Scheme, Make Investments in Gold, Invest in Equity Mutual Funds, Investments via Recurring Deposits.   Why save for your child's education? Ans. You can avoid taking on significant debt to pay for your child's higher education by starting a savings plan early, even before they enter kindergarten.  What is the right time to start saving for your child's education? The right to start saving for your child's education is as early as possible. The earlier you begin, the better it will be for your investments, as you'll be able to take advantage of the power of compounding. Conclusion We hope now you have a decent idea of what investment options you could consider, as well as the pros and cons of each. In our next post, we will look at why we think mutual funds - through SIP mode - are a good way to build a corpus fund with the goal of educating your child. With this kind of education fund, you can stop worrying about the finances that are required to send your child to the college of her dreams. ‍Your investment today will gift your child a good life, tomorrow. Consult an expert advisor to get the right plan TALK TO AN EXPERT
What is the cost of studying MBA abroad?

What is the cost of studying MBA abroad?

The cost of studying for an MBA abroad can be high compared to studying MBA in India. Indian students have to pay higher tuition fees than international students and have to manage living costs in a foreign currency. All these factors can affect the overall cost of studying MBA abroad much higher.   Students can choose from any of the foreign nations to complete the MBA program. The cost of an MBA is determined by the area of expertise and study location you choose. The typical tuition cost and daily living expenses for international students are listed below Pre-arrival costs for studying MBA abroad  Even before departing for an MBA abroad, an international student must pay a range of expenditures. The pre-arrival costs associated with admission exam registration fees, application fees, visa application fees, flights, etc., must be included in the MBA fees in foreign countries. Look at the estimated pre-arrival costs included in the MBA abroad tuition for Indian students:  Costs:  IELTS registration fee – INR 18,000-19,000   TOEFL registration fee – INR 14,550   GRE registration fee – INR 15,700   GMAT registration fee – INR 21,000   Airfare (depending on destination) - INR 30,000-120,000   https://www.youtube.com/watch?v=sIJ5VeZQODE Application fees for International MBA  When enrolling for an MBA overseas, you will be required to pay an application fee. This cost is included in the foreign MBA pre-arrival costs. Application costs for MBA at universities abroad:  USA – INR 16,000 to 24, 000   UK – INR 20,000  Canada – INR 3,000 to 20,000   Australia – INR 4,000 INR to 20,000   New Zealand – INR 2,000 INR to 7, 000  These ranges are for a single application. The total cost of applying to multiple business schools can go higher. Some universities do waive application fees for candidates but a huge set of universities do levy these fees on international students.  Application fees for visas for MBAs abroad  The cost of applying for a visa is one of the many pre-arrival fees for overseas students. There are many types of student visas that are required by various foreign nations; applications must be submitted on time and with the required fee. Student visa categories and associated application costs for MBA study abroad:  F-1 student visa (USA) - INR 41,000 to 50,000   Tier 4 student visa (UK) - INR 35,000 to 40,000   Canadian study permit (Canada) - INR 12,000 to 15,000   Student visa subclass 500 (Australia) - INR 36,000 to 37,000   New Zealand student visa (New Zealand) - INR 28,000 to 29,000  Living expenses for international students abroad  The living costs for international students are one of the significant costs associated with an MBA abroad. Keep in mind that living expenses in other countries are much higher than in India and must be taken into consideration. Only a select few of you will be fortunate enough to receive an all-inclusive scholarship that will cover your living costs, so for the rest of you, you will need to properly budget for this when determining the cost of an MBA program overseas.  Before looking at the cost of living for an MBA abroad, you should be aware that the precise amount will depend on the type of housing you select, such as on-campus or off-campus facilities, whether you have a private or shared room, the amenities you desire, and where you are located in the country. When calculating the price of an MBA program overseas, you'll discover that certain places have significantly higher monthly costs than others. So, if money is limited, look for universities in areas with low costs of living. In the majority of foreign nations, international students are also permitted to work part-time, which can be a very helpful source of revenue for your daily expenditures.  Annual living expenses for MBA study abroad:  USA: INR 765,000 - INR 13,80,000   UK: INR 920,000 - INR 18,40,000   Canada: INR 840,000 - INR 12,25,000   Australia: INR 920,000 - INR 16,86,000   New Zealand: INR 765,000 - INR 11,50,000   If you want to calculate the cost of college then you can check this link here.  Conclusion  Yes, the expense of an MBA overseas may seem overwhelming to you, but try not to get discouraged if the price tag is out of your price range. There are many financial aid options available specifically for international students to allay your financial concerns and inspire you to pursue a degree overseas. You can achieve your objective by working harder, taking on part-time jobs, or saving as much money as you can. Once you finish the program, all of your investment will eventually provide fantastic profits.  FAQ Which country is the cheapest for MBA?  Germany is said to be the cheapest country for doing MBA. Is MBA abroad expensive? In India, an MBA will set you anywhere between INR 7,50,000 and INR 25,000. On the other hand, the cost of an MBA will range from INR 20,00,000 to 75,00,000 if you plan to study abroad in a country like the United States, the United Kingdom, Canada, or Australia. Is MBA cheaper in India or abroad? This is a completely different premise, and the solution is straightforward: if you can afford it, an MBA from a mid-level university abroad is preferable to an MBA from a private institute in India. The return on investment is just higher. A few foreign universities provide MBA courses at significantly cheaper costs than anticipated.  Can I study MBA abroad for free?  Search for grants and scholarships if you want to study abroad without breaking the bank. Each year, thousands of overseas students get financial aid from universities, foundations, charities, and government agencies for their living expenses and tuition.  Consult an expert advisor to get the right plan TALK TO AN EXPERT
How to choose abroad education loans?

How to choose abroad education loans?

261,406 Indian students studied abroad in 2022, according to the Ministry of External Affairs, and more students are anticipated to enroll in top-notch programs next year.  The best way to pay for studying abroad is often thought to be through student loans. Loans for studying abroad come in a variety of forms. Let's learn about them and help you choose your best option. Types of education loans  Let's first explore the two major forms of education loans accessible to international students who want to study abroad through collateral-free education loans: 1. Collateral education loan  To get the required loan amount for a collateral education loan, the borrower must pledge collateral (such as a house, property, gold, insurance policies, land, fixed deposits, etc.) as security. Collateral loans can further be divided into three categories; Immovable property: This comprises buildings, flat surfaces, uncultivated land, and areas with well-defined borders. Liquid security: This covers LICs, government bonds, fixed deposits, etc. Third-party collateral: Only government and public banks are covered by this law. In this situation, if a candidate lacks the necessary assets listed above or is unable to provide the value to match the necessary loan amount, they may pledge the asset of a third party as collateral. In essence, the term "third party" refers to those who are not members of the candidate's close family. For instance, the candidate's uncle, aunt, pals, or the major co-applicant, etc. 2. Non-collateral education loan  The borrower of an education loan for international studies without collateral is not required to provide collateral as security, in contrast to an education loan with collateral. In the case of an education loan without collateral for abroad, borrowers are required to submit documentation and fulfill relevant requirements and eligibility criteria. Types of education loans based on lenders The following are the different types of education loans based on lenders:  1. Loans from Public-Sector Banks In India, public-sector banks or government banks give education loans to those who want to study abroad mostly based on collateral that is given as security. Government banks offer unsecured loans to students for INR 7.5 lakh. Applicants must offer collateral as security for sums more than this. Compared to commercial lenders, public sector banks provide lower interest rates. Section 80E offers tax advantages for government bank student loans. Major public-sector banks that provide loans for international schooling include: State Bank of India Bank of Baroda Punjab National Bank Union Bank of India 2. Loans from Private Banks Both secured and unsecured loans for study abroad are available from private Indian banks to students. The amount that may be approved depends on several variables, including the applicant's profile, the co-applicants financial situation, the nation, the course, etc. Private-sector banks provide better interest rates than NBFCs and foreign lenders, but they are higher than government banks. ROI generally begins around 11% annually. Private bank student loans are also eligible for Section 80E tax advantages. Compared to government banks, private banks require less time to approve an education loan. Several of the largest private sector banks providing loans for international schooling are: ICICI Bank Axis Bank 3. Loans from Non-Banking Financial Companies (NBFCs) NBFCs provide unsecured and secured student loans for international studies. The maximum loan amount that can be approved varies depending on several variables, including the applicant's profile and the financial status of any co-applicants. When compared to commercial banks and government banks, the interest rates on loans from NBFCs are on the higher side. The interest rate for NBFC education loans normally ranges from 11.5% to 16% per annum. NBFC education loans do not qualify for Section 80E tax advantages. Compared to government banks and commercial banks, NBFCs require less time to complete an education loan. Some of the largest NBFCs providing loans for international schooling include: HDFC Credila Avanse  InCred Auxilo How to choose the right abroad education loans for higher education?  Research and thorough comparison are necessary while selecting the best education loan for higher education. Before choosing an education loan, compare the interest rates and repayment options offered by several institutions. You may also get in touch with an expert. They can assist you in negotiating a lower interest rate and in organizing your repayment plan to help you save money. Before choosing to take out an education loan, ascertain how much money you require to fund your higher education. Our College Cost Calculator will help you determine how much additional money you'll need to live comfortably in your college city by providing you with information on the tuition and living costs there. In the modern, dynamic world, a good education is crucial because it gives students more self-confidence and gives them the tools they need to live their best lives. Therefore, although taking out a loan first seems scary, as long as the student is dedicated and makes the most of the opportunity, it will ultimately pay off. Consult an expert advisor to get the right plan TALK TO AN EXPERT
Lumpsum investment for child education

Lumpsum investment for child education

Where to invest the lump sum of money that parents have set aside for their child's education is one of the most frequent concerns. Every time a sizable quantity of money is acquired as a bonus, as the sale of real estate, as an inheritance, as a present from grandparents, etc., parents start looking for good investment opportunities. So in this blog, we have discussed how to invest a lump sum investment for your child's education. What is a lump sum investment? The term "lump amount" often refers to a significant sum of money. Financially speaking, investing a big quantity of money all at once as opposed to splitting it up into several payments. Investments made in lump sums include investing all of the investor's funds. For instance, if someone wants to invest all of the money in his possession in mutual funds or other types of investment vehicles, it is referred to be a lump sum investment. A lump sum payout is comparable to that, but it is not an investment but a payment made to others. As the name implies, no installments or partial payments are made. Best ways to invest a lump sum for your child’s education Following are the best ways to invest a lump sum amount for your child's education: 1. Dynamic equity mutual funds They are often referred to as balanced advantage funds or dynamic asset allocation funds. They make both loan and equity investments. The fund manager maintains a balanced asset allocation. In many cases, the exposure to securities ranges from 30% to 80% or even more. Most dynamic equity funds make sure that their equity and arbitrage positions remain over 65%. They are, therefore, qualified for the tax benefits offered to equity mutual funds. Dynamic equity mutual funds are less risky and volatile than stock mutual funds. However, they also provide lower returns than they do. 2. Equity-oriented hybrid mutual funds They are also referred to as aggressive hybrid mutual funds or balanced mutual funds. They devote between 65% and 80% of their resources to ventures involving equity. The remainder is made up of debt instruments. Due to their status as equity mutual funds, they are eligible for tax advantages. Balanced mutual funds have higher volatility and less security than dynamic equities funds. Over time, they offer greater returns than they do. 3. Equity multi-cap mutual funds They are also known as "diversified equity mutual funds." They devote a minimum of 65% of their assets to stock investments and instruments linked to equities. Equity investments are made in large-, mid-, and small-cap enterprises via multi-cap funds. Over time, multi-cap funds outperform hybrid mutual funds in terms of returns. But there is also increased risk and turbulence. 4. Debt mutual funds Fixed-income securities are an investment in debt mutual funds. The ones that give the most safety include liquid funds, ultra-short funds, low-duration funds, and short-duration funds. These funds make investments in highly rated short-term securities. They are safer than funds that take duration calls or invest in bonds with low credit ratings. 5. Public Provident Fund (PPF) PPF investments may be included in your portfolio's debt allocation. If you're seeking a safe investment with tax-free returns, this is a fantastic choice. PPF has a 15-year lock-in period, making it less liquid than a hybrid mutual fund. The rewards on PPF investments are less alluring than those on hybrid mutual funds. PPF, however, is far less risky and volatile than hybrid mutual funds. Additionally, it offers tax-free returns. CALCULATE LUMPSUM INVESTMENT Factors to consider before investing in lump sum investment The following are the top factors to consider before investing in lumpsum investment for your child's education:  1. Investing a large sum of money If you decide to invest in mutual funds in lump amounts, you may put a lot of money into them. As a result, the investment's value increases as the market grows. 2. Mutual funds are the best option for long-term investments Investing in mutual funds will be a better choice if you are able to save a lump sum of money for a longer length of time, such as five years or more; moreover, the rewards will be significant if you are able to preserve it for ten years. 3. Market predictions The best time to invest in mutual funds in a lump sum is when the market is at its lowest point but showing signs of improvement and future growth; however, lump-sum investments in mutual funds should be avoided if the market is performing well and maximizing as you might find yourself in a losing situation. Before investing in the best lump sum investment plan, investors should be aware that the funds they choose should be based on their specific goals and risk tolerance. For instance, simply capital gains, gains plus tax advantages, etc. TALK TO AN EXPERT
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