What is Student Loan Refinancing?
- Exchanging your current Student Loan with a new Student Loan having a low Education Loan interest rate
When should you refinance your Student Loan?
- Savings opportunity
- Profitable only if you are paying a low interest rate
- Calculate your savings on an Education Loan Refinancing Calculator
- Persistent and stable finances
- Steady financial situation avoids the risk of default
- Basis your credit history and repayment capability, private lenders will decide whether you qualify for refinancing.
- Refinancing criteria for Education Loan
- High credit score
- Stable income
- Existing Education Loan to study in India and abroad
- Completion of studies and initiation of loan repayment
- A Debt-to-Income Ratio of 50% or less
- Diligent credit history
Benefits of Refinancing your Education Loan
- Consolidate your loans into one and pay low interest rate
- Refinance and extend the repayment period
To Know More About Refinancing Student Loan: https://www.hdfcsales.com/education-loan
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