Educational Loan

Educational Loan Assistance

We understand that funding overseas education can be challenging, which is why we provide comprehensive Education Loan Assistance. Our dedicated team supports students through the entire loan application process, collaborating with both private and nationalized banks to cover tuition and living expenses abroad. Recognizing that the loan process can be cumbersome, we offer expert guidance and reliable information to make it easier. Additionally, we have strong partnerships with banks, ensuring access to student loans at competitive interest rates.

Types of Loans

When it comes to Study Abroad Financial Support, students can choose between two main types of education loans: Collateral Loans and Non-Collateral Loans. These options provide flexibility in financing your overseas education, ensuring you can select the one that best fits your financial situation.

Definition of Collateral Loans:

Collateral loans require you to pledge an asset, such as property, a vehicle, or other valuables, as security.

Purpose of Collateral:

The pledged asset acts as a guarantee, allowing the bank to claim it in case of non-repayment.

Definition of Non-Collateral Loans:

Non-collateral loans do not require any pledged assets, making them a flexible option for students.

Eligibility Factors:

Approval is based on criteria such as job income proof, six months’ bank statements, past three years’ ITR documents, and support from two higher-income co-applicants.

Interest rates for these two types of loans vary significantly. Overseas Education Funding through collateral loans typically comes with lower interest rates, as they provide more security for the lender. In contrast, non-collateral loans usually have higher interest rates due to the increased risk involved for the lender.

Loan Eligibility in India

Nationality Requirement:
- Only Indian nationals are eligible to apply for educational loans.
Entrance Exam Completion:
- Applicants must have successfully completed all required entrance exams.
Minimum Score Criteria:
- A prominent score in entrance exams is necessary to qualify for a loan.
Admission Confirmation:
- Students must have guaranteed admission to their desired course and institution.

Documents Needed

Admission Documentation:
- Provide the admission letter from the respective course or institution, along with the latest mark sheets from your qualifying examination.
Expense Estimate:
- Submit an estimate of the expenses associated with the course.
Scholarship Confirmation:
- Include a confirmation letter for any scholarships received.
Personal Identification:
- Supply two passport-sized photographs, bank statements covering the last six months, and proof of identity and address if you are not an existing customer of the lending bank.