Who We Are
Student Loan Refinancing Overview
What is Refinancing?
Refinancing is the process of moving an existing education loan to a new lender based on eligibility and policy guidelines, allowing borrowers to manage their loan under one provider.
Student loan Refinancing
So, you’ve taken a loan. What if we have cool options to slash your outstanding?
Different Rates
Fixed Rate, Variable Rate and Hybrid Rate.
Refinancing Calculator
Use our fast and easy student loan refinancing calculator to figure out how refinancing your student loans can improve your finances.
Benefits & Features
Sensitive Solutions
Responsible Borrowing
Account access 24x7
Take the load out of your debt
Eligibility & Documents
Who should opt for Student Loan Refinancing?
- Students with existing student loans who are currently pursuing their studies in India or abroad.
- Students who have completed their studies and are about to start or have already started their student loan repayments.
- Working Professionals servicing an existing student loan.
Co-borrowers
- Indian Nationals /Indian Passport Holders/ NRI Working in India with OCI card
- Relationship accepted for Income Eligibility: Father/ Mother/ Brother/ Sister/ Brother in Law.
- Relationship accepted for Security with Property as collateral: Father/ Mother/ Brother/ Sister/ Maternal Uncle/ Paternal Uncle/ Grand Parents & Friends.
Courses
All accredited courses in India or Overseas
Loan Amount
INR 2,00,000 – Max INR 1,00,00,000
Collateral Accepted
House/ Flat, Residential Plot, Non-Agricultural Land, Fixed Deposit
Ready to Apply
Apply NowHow to Apply
Step 1
Click on Apply to access our online form. Complete the details and submit the application.
Step 2
A Nitstone representative will review your application and contact you to discuss the next steps.
Step 3
Provide the required documents for verification.
Step 4
Loan processing will proceed according to standard verification and approval procedures. T&C*
Fees & Charges
Education loan Service charges and fees are as follows:
| Description of Charges | Charges and Fees |
|---|---|
| Pre-Payment charges | No pre-payment allowed in the first six months of loan disbursement |
| Charges for past due payment of PMII / EMI | 2% per month |
| Cheque/ECS Swap charges | Rs 500/- plus applicable service tax. |
| Cheque/ECS Bounce charges | Rs 400/- plus applicable service tax. |
| Document handling charges (At the time of foreclosure) | Rs 1500/- + taxes as applicable. |
Processing Fee
Zero Processing charges, you pay only for the applicable documentation charges
Repayment
- Minimum repayment tenure: 12 months
- Maximum repayment tenure: 120 months (including course duration)
- Grace period is of six months after the course is complete or three months after getting a job