Education of their own children is always one of the main concerns of the parents. Parents are constantly worried about different aspects of education – including the quality of the education, the attentiveness of the child, whether the child is provided with extra-curricular activities as well, among other topics. This worry intensifies when the child becomes a teenager and is ready for the higher studies.
Education, as we all know, is directly correlated to the price. The cost gets higher for higher education, and keeps on increasing for even further studies. As a result, parents have to constantly provide ample amount of money for it, sometimes, which would not be possible to procure. Parents, therefore, take a huge amount of education loans for their loving children and spend their entire life, piecing it back together to repay. However, repayment schedule of an educational loan differs from that of other loans. EMIs are not required to be paid immediately as there is a moratorium period – which means a period where no EMI’s are needed to be paid. It usually lasts for the length of the course, and during this period, only simple interest is needed to be paid, whereas actual EMI’s begin after the end of the course.
However, the EMI schemes come with hidden costs – interest costs and processing fees and this is when the option of No Cost EMI comes in the picture. It is a type of education loan launched recently by Brainybatch. The students prefer EMIs of specific length of month for repaying their Annual Fee Payment and other expenses related to educational purposes. The interest charged by the bank is offered as an upfront discount, which effectively makes it no effective interest. With no extra money to invest in the repayment, the scheme turns out to be pretty favorable and popular among the students and their parents.
This No Cost EMI scheme has been a boon to almost every student and his or her family. This is because students get the high quality education which they both – the parents and the student had always desired – wanted to have. Also, it is a cheaper option as compared to the normal education loans. The extra money saved can be utilized at a whole lot of other places, saving you from the horror of loan repayment.
This scheme has made studying easy and worry free. It is because of this scheme that parents can finally take a deep, relaxing breath when it comes to providing the best quality education to their children. More especially, the tension, the worry that always claws the parents’ hearts, which actually poses as a mental burden, is drastically lowered – if this scheme of No Cost EMI is taken into consideration and use. If your child wants to study overseas for higher education, this will definitely set you up, as there is always a need for some extra money, which can be arranged through this scheme as well.