{"id":3154,"date":"2022-03-04T09:00:26","date_gmt":"2022-03-04T09:00:26","guid":{"rendered":"https:\/\/ieltsnpte.com\/updates\/?p=3154"},"modified":"2023-01-04T12:17:17","modified_gmt":"2023-01-04T12:17:17","slug":"education-loan-for-studying-abroad","status":"publish","type":"post","link":"https:\/\/ieltsnpte.com\/updates\/education-loan-for-studying-abroad\/","title":{"rendered":"Education Loan for Studying Abroad"},"content":{"rendered":"<h1 style=\"text-align: center;\"><span style=\"color: #800080;\"><strong><u>Education Loan for Studying Abroad<\/u><\/strong><\/span><\/h1>\n<ul>\n<li><span style=\"color: #000000;\"><strong>Studying abroad can be a life-changing decision, however, this doesn\u2019t come easy.<\/strong><\/span><\/li>\n<li><span style=\"color: #ff0000;\"><strong>Those who want to pursue higher studies abroad, but find it difficult to arrange for funds.<\/strong><\/span><\/li>\n<li><strong><span style=\"color: #000000;\">For them, Education Loan is the option to make arrangements for funding their education.<\/span><\/strong><\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span style=\"color: #ff00ff;\"><strong>Eligibility criteria for Education loan<\/strong><\/span><\/h2>\n<p><strong><span style=\"color: #000000;\">The applicant should<\/span><\/strong><\/p>\n<ul>\n<li><strong><span style=\"color: #000000;\">Attained the age of 18 else his\/her parents will have to take the loan.<\/span><\/strong><\/li>\n<li><span style=\"color: #ff0000;\"><strong>Have a good academic background.<\/strong><\/span><\/li>\n<li><strong><span style=\"color: #000000;\">Secure admission to a recognized foreign university\/institution\/college.<\/span><\/strong><\/li>\n<li><span style=\"color: #ff0000;\"><strong>Select a technical or professional desired course for study abroad <\/strong><\/span>\n<ul>\n<li><span style=\"color: #ff0000;\"><strong>as banks to give preference to job oriented courses.<\/strong><\/span><\/li>\n<\/ul>\n<\/li>\n<li><strong><span style=\"color: #000000;\">He\/she must be an Indian citizen.<\/span><\/strong><\/li>\n<\/ul>\n<h2><span style=\"color: #ff00ff;\"><strong>Watch the Video:<\/strong> For the complete guide for studying abroad<\/span><\/h2>\n<ul>\n<li><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/RV9YzICizSw\" width=\"650\" height=\"350\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><strong><span style=\"color: #000000;\">\u00a0<\/span><\/strong><span style=\"color: #ff00ff;\"><strong>Things to remember\u00a0<\/strong><\/span><\/h2>\n<ul>\n<li>\n<h3><span style=\"color: #ff0000;\"><strong>Moratorium period:<\/strong><\/span><\/h3>\n<ul>\n<li><strong><span style=\"color: #000000;\">This is the time period during which the borrower need not make any repayment to the bank.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">This period varies from bank to bank.<\/span><\/strong>\n<ul>\n<li><strong><span style=\"color: #000000;\">Also, it could last up to some time after completion of the course.<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span style=\"color: #ff0000;\"><strong>Loan Margin:<\/strong><\/span><\/h3>\n<ul>\n<li><strong><span style=\"color: #000000;\">Usually, banks do not provide the complete amount<\/span><\/strong>\n<ul>\n<li><strong><span style=\"color: #000000;\"> i.e. 100 per cent money needed to fund education.<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong><span style=\"color: #000000;\">The majority of the public sector banks issue 70 to 90% of the total amount.<\/span><\/strong>\n<ul>\n<li><strong><span style=\"color: #000000;\">The remaining 10 to 30 % has to be arranged by the aspirant himself.<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><span style=\"color: #ff0000;\"><strong>Effect of Exchange Rate:<\/strong><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong><span style=\"color: #000000;\">Always calculate the amount which you will be receiving at the time of disbursement.<\/span><\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><strong><span style=\"color: #000000;\">So, any change in the exchange rate can affect the amount you will be receiving.<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span style=\"color: #ff00ff;\"><strong>To know before applying for Education Loan <\/strong><\/span><\/h2>\n<ul>\n<li><span style=\"color: #000000;\"><strong>Ascertain <span style=\"color: #ff0000;\">how much finance<\/span> you need from the bank.<\/strong><\/span><\/li>\n<li><strong><span style=\"color: #000000;\"><span style=\"color: #ff0000;\">Finalize the course<\/span> you plan to pursue and the university you would be studying in.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Identify the <span style=\"color: #ff0000;\">Co-applicant<\/span> or Guarantor.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Check <span style=\"color: #ff0000;\">the documents required<\/span> to be submitted.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Submit the <span style=\"color: #ff0000;\">application form<\/span> duly filled in and complete in all respects.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Apply for the\u00a0Education loan\u00a0<span style=\"color: #ff0000;\">well in advance<\/span>, to ensure timely disbursement.<\/span><\/strong><\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span style=\"color: #ff00ff;\"><strong>The Loan Amount<\/strong><\/span><\/h2>\n<ul>\n<li><strong><span style=\"color: #000000;\">There is <span style=\"color: #ff0000;\">no limit<\/span> set by the banks for offering education loans to students abroad.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">It depends on the bank to bank.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">The majority of the banks offer loans <span style=\"color: #ff0000;\">up to INR 30 lakhs.<\/span><\/span><\/strong>\n<ul>\n<li><strong><span style=\"color: #000000;\">Also, if the loan amount is more than INR 20 lakhs then the interest rate also increases.<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong><span style=\"color: #000000;\">Generally, banks and NBFCs prefer to give<span style=\"color: #ff0000;\"> loans for undergraduate and postgraduate courses.<\/span><\/span><\/strong>\n<ul>\n<li><strong><span style=\"color: #000000;\">Also, the majority of banks prefer to give education loans abroad for pursuing job oriented and professional courses.<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li><strong><span style=\"color: #000000;\">If you want to take the loan with <span style=\"color: #ff0000;\">your immovable property as collateral<\/span>, in that case,<\/span><\/strong>\n<ul>\n<li><strong><span style=\"color: #000000;\">\u00a0The bank\u2019s representative will verify your property and prepare a report on whether it can be mortgaged or not.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Also, the bank\u2019s representative will evaluate your property.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Based on this report, the loan amount will be approved.<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4 style=\"text-align: center;\"><strong><span style=\"color: #000000;\">\u00a0<\/span><span style=\"color: #800080;\">The education loan amount is provided to you by:<\/span><\/strong><\/h4>\n<ul>\n<li><strong><span style=\"color: #000000;\">It is electronically transferred to the designated bank account.<\/span><\/strong><\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span style=\"color: #ff00ff;\"><strong>What is Collateral?<\/strong><\/span><\/h2>\n<ul>\n<li><span style=\"color: #ff0000;\"><strong>A movable or immovable property that can be offered to the banks as security to receive a loan is called collateral.<\/strong><\/span><\/li>\n<li><strong><span style=\"color: #000000;\">Collateral makes sure that if you end up not paying for the student loan, the bank holds rights to seize the property.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Most of the Indian banks require collateral for the education loan.<\/span><\/strong><\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span style=\"color: #ff00ff;\"><strong>Which is accepted as Collateral?<\/strong><\/span><\/h2>\n<p><strong><span style=\"color: #000000;\">Different types of instruments are accepted as collateral. They include:<\/span><\/strong><\/p>\n<ul>\n<li><span style=\"color: #0000ff;\"><strong>Bonds<\/strong><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><strong>FD<\/strong><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><strong>Shares<\/strong><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><strong>Mutual Fund Units<\/strong><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><strong>Gold<\/strong><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><strong>Life Insurance Policy<\/strong><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><strong>Debentures<\/strong><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><strong>Bank Deposits<\/strong><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><strong>House<\/strong><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><strong>Commercial Property<\/strong><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><strong>Non-Agriculture Land<\/strong><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><strong>Agricultural lands are not accepted as collateral<\/strong><\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span style=\"color: #ff00ff;\"><strong><a style=\"color: #ff00ff;\" href=\"https:\/\/leverageedu.com\/blog\/education-loan-without-collateral\/\" target=\"_blank\" rel=\"noopener\">Education loan to study abroad without collateral<\/a><\/strong><\/span><\/h2>\n<ul>\n<li><strong><span style=\"color: #000000;\">There are plenty of education loans available without collateral as for some it is difficult to have such securities.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Many popular finances of the country offer education loans without collateral.<\/span><\/strong><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong>Listed below are the important points you must keep in mind while seeking the same.<\/strong><\/span><\/p>\n<ul>\n<li><strong><span style=\"color: #000000;\">You may not pledge to any government bank for collateral if you are availing <span style=\"color: #ff0000;\">loan up to INR 4 Lakh<\/span><\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">As per RBI, all the banks of the country have provision to grant education loans<span style=\"color: #ff0000;\">\u00a0without collateral up to INR 7.5 Lakh<\/span> when all the criteria are met.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Those seeking a loan of more than INR 7.5 lakh, can opt for private or NBFCs as they provide a <span style=\"color: #ff0000;\">loan of up to INR 50 lakh<\/span> without collateral.<\/span><\/strong><\/li>\n<\/ul>\n<h2><span style=\"color: #ff00ff;\"><strong>Factors to Compare while Selecting Education Loan for Studying Abroad:<\/strong><\/span><\/h2>\n<p><span style=\"color: #000000;\"><strong>Several lenders in the Indian market are there to provide<\/strong>\u00a0<strong>Education Loans for Studying Abroad, including nationalized banks, private banks, and international lenders. But a student must know which one suits his\/her requirements better. For that, they must do thorough research and comparative analysis of various lender institutes on the multiple factors.<\/strong><\/span><\/p>\n<p><span style=\"color: #ff6600;\"><strong>Here are some factors that students should consider before choosing an education loan for studying abroad.<\/strong><\/span><\/p>\n<h4><span style=\"color: #008000;\"><strong>Processing Time: <\/strong><\/span><\/h4>\n<p><strong><span style=\"color: #000000;\">The processing time is the time required for the sanctioning of the loan amount, and they differ for every lender.<\/span><\/strong><\/p>\n<h4><span style=\"color: #008000;\"><strong>Processing Fees: <\/strong><\/span><\/h4>\n<p><strong><span style=\"color: #000000;\">The processing fee is the lender&#8217;s charge to approve the education loan. It is also different for every lender.<\/span><\/strong><\/p>\n<h4><span style=\"color: #008000;\"><strong>Borrowing Limits: <\/strong><\/span><\/h4>\n<p><strong><span style=\"color: #000000;\">The borrowing limit for different lenders for secured education loans is different. Students must look for a suitable financial lender as per their cost project.<\/span><\/strong><\/p>\n<h4><span style=\"color: #008000;\"><strong>Rate of Interest: <\/strong><\/span><\/h4>\n<p><strong><span style=\"color: #000000;\">Students must investigate the rate of interest (ROI) of different lenders before finalizing the bank. The ROI of lenders changes after some time interval.<\/span><\/strong><\/p>\n<h4><span style=\"color: #008000;\"><strong>Moratorium Period: <\/strong><\/span><\/h4>\n<p><strong><span style=\"color: #000000;\">A moratorium refers\u00a0to the delay or postponement of the requirement to make a kind of payment. A moratorium period delays repayment and\u00a0allows the borrower a grace period before they can start repaying the loan via EMI.<\/span><\/strong><\/p>\n<h4><span style=\"color: #008000;\"><strong>Interest during Moratorium Period: <\/strong><\/span><\/h4>\n<p><strong><span style=\"color: #000000;\">There shall be no interest on any amount during the loan moratorium from borrower. But some lenders serve simple interest during the moratorium period, and students have the option of paying both simple and partial interest.<\/span><\/strong><\/p>\n<h4><span style=\"color: #008000;\"><strong>Direct EMI: <\/strong><\/span><\/h4>\n<p><strong><span style=\"color: #000000;\">Direct EMI is the option where the moratorium period is not applicable, and students have to pay EMI from the next month once the loan amount is handover.<\/span><\/strong><\/p>\n<h4><span style=\"color: #008000;\"><strong>Loan Repayment Term: <\/strong><\/span><\/h4>\n<p><span style=\"color: #000000;\"><strong>The loan repayment term of various lenders is between 10 to<\/strong> <strong>15 years.<\/strong><\/span><\/p>\n<h4><span style=\"color: #008000;\"><strong>Pre-Visa\/Post-Visa Disbursement: <\/strong><\/span><\/h4>\n<p><span style=\"color: #000000;\"><strong>It is necessary to check with the bank about pre\/post visa disbursement before submitting the overseas education loan proposal because only selected banks to provide pre-visa disbursal. International lenders provide post visa disbursement after reaching the study abroad destination. <\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\"><strong>Pre-visa disbursement loans are given to students to secure their seats by making a fee deposit to the university\/college before the visa. Once the student secures admission to the university, they can obtain their student visa using a Pre-Visa Disbursement loan. <\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\"><strong>Post-visa disbursement loan is given to the student upon getting the Visa approval. The student must provide the visa copy to the disbursement officer, and accordingly bank officer will disburse the loan.<\/strong><\/span><\/p>\n<h4><span style=\"color: #008000;\"><strong>Remittance:<\/strong><\/span><\/h4>\n<p><span style=\"color: #000000;\"><strong>Students should check the process of remittance of the loan amount with the bank whether they are going to transfer the funds to the student or to the university account.\u00a0<\/strong><\/span><\/p>\n<h2 style=\"text-align: center;\"><span style=\"color: #ff00ff;\"><strong>Click the links of the following Banks for Foreign study Loans.<\/strong><\/span><\/h2>\n<ul>\n<li><strong><span style=\"color: #000000;\"><a href=\"https:\/\/www.hdfcbank.com\/personal\/borrow\/popular-loans\/educational-loan\/education-loan-for-foreign-education\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #3366ff;\">HDFC Bank<\/span><\/a><\/span><\/strong><\/li>\n<li><a href=\"https:\/\/www.federalbank.co.in\/education-and-career-loans\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #3366ff;\"><strong>Federal Bank<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.m-icicibank.com\/education-loan-generic\/index.html?utm_source=sem&amp;utm_medium=search&amp;utm_campaign=icicibank-a2-el-ntb-search-generic-domestic-bmm-may21&amp;utm_content=sem-search-icicibank-a2-el-ntb-search-generic-domestic-bmm-may21-performance-na-cpc-education-loan-na-bank-loan-education-india&amp;utm_term=-bank-loan-education-india&amp;utm_lms=sem-search-icicibank-a2-el-ntb-search-generic-domestic-bmm-may21-performance-na-cpc-education-loan-na-bank-loan-education-india&amp;gclid=Cj0KCQjwnueFBhChARIsAPu3YkQbVgLXdbjZ6BCR50JsGnlf72LRD1rUMmhcSr43u1aTkG9u1d77JxAaAqN6EALw_wcB\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"color: #000000;\"><span style=\"color: #3366ff;\">ICICI Bank<\/span><\/span><\/strong><\/a><\/li>\n<li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.unionbankofindia.co.in\/english\/education-loan.aspx\" target=\"_blank\" rel=\"noopener\"><strong>Union Bank<\/strong><\/a><\/span><\/li>\n<li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.axisbank.com\/retail\/loans\/education-loan\/features-benefits\" target=\"_blank\" rel=\"noopener\"><strong>Axis Bank<\/strong><\/a><\/span><\/li>\n<li><a href=\"https:\/\/www.bankofbaroda.in\/baroda-scholar-loan.htm\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"color: #000000;\"><span style=\"color: #3366ff;\">Bank of Baroda<\/span><\/span><\/strong><\/a><\/li>\n<li><a href=\"https:\/\/sbi.co.in\/web\/personal-banking\/loans\/education-loans\/global-ed-vantage-scheme\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"color: #000000;\"><span style=\"color: #3366ff;\">SBI Bank<\/span><\/span><\/strong><\/a><\/li>\n<li><span style=\"color: #3366ff;\"><strong><a href=\"https:\/\/www.vidyalakshmi.co.in\/Students\/\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #0000ff;\">Vidya Lakshmi Education Portal\u00a0<\/span><\/a> \u00a0<\/strong><\/span>\n<ul>\n<li><span style=\"color: #3366ff;\"><strong><span style=\"color: #000000;\">(Applicable for Indian Students only)<\/span><\/strong><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span style=\"color: #800080;\"><strong><span style=\"color: #ff00ff;\">Documents required<\/span>\u00a0<\/strong><\/span><\/h2>\n<ul>\n<li><span style=\"color: #ff0000;\"><strong>Filled application form<\/strong><\/span><\/li>\n<li><strong><span style=\"color: #000000;\"><span style=\"color: #ff0000;\">Date of Birth proof:<\/span> Any one of the following documents.<\/span><\/strong>\n<ul>\n<li><strong><span style=\"color: #000000;\">Birth Certificate<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Passport<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Voter card with DOB<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">College Passing Certificate<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">PAN Card<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Driving license or Adhar Card<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong><span style=\"color: #000000;\"><span style=\"color: #ff0000;\">Photographs<\/span>:<\/span><\/strong>\n<ul>\n<li><strong><span style=\"color: #000000;\">Passport size photographs of the applicant and the co-applicant.<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"color: #ff0000;\"><strong>Photo ID:<\/strong><\/span>\n<ul>\n<li><strong><span style=\"color: #000000;\">Of both applicant and the co-applicant.<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">It can be a PAN card or driving license or Voter ID card or Adhar Card or Passport.<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"color: #ff0000;\"><strong>Residence proof:<\/strong><\/span>\n<ul>\n<li><strong><span style=\"color: #000000;\">Resident proof of the applicant and the co-applicant<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"color: #ff0000;\"><strong>Academic documents:<\/strong><\/span><\/li>\n<li><span style=\"color: #ff0000;\"><strong>Mark sheet and certificates of the applicant<\/strong><\/span><\/li>\n<li><strong><span style=\"color: #000000;\">Mark sheet (Score Report) of<a href=\"https:\/\/ieltsnpte.com\/\">\u00a0<\/a><span style=\"color: #ff0000;\">IELTS, PTE, TOFEL, GRE,\u00a0<\/span>etc. whichever is applicable<\/span><\/strong><\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span style=\"color: #000000;\"><span style=\"color: #800080;\"><a style=\"color: #800080; font-weight: bold;\" href=\"https:\/\/ieltsnpte.com\/\"><strong><span style=\"color: #ff00ff;\">Click &amp; Register here<\/span><\/strong><\/a><span style=\"color: #ff00ff;\"><strong> to get the best Coaching for IELTS, PTE, TOEFL, GRE, French, Spoken English, Duolingo and SAT<\/strong><\/span><\/span><\/span><\/h2>\n<ul>\n<li><strong><span style=\"color: #000000;\"><span style=\"color: #ff0000;\">Admission proof<\/span>:<\/span><\/strong>\n<ul>\n<li><strong><span style=\"color: #000000;\">Admission letter shared by the university or college.<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"color: #ff0000;\"><strong>Bank statements:<\/strong><\/span>\n<ul>\n<li><strong><span style=\"color: #000000;\">Last six months bank statements of the co-applicant<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"color: #ff0000;\"><strong>Income proof:<\/strong><\/span>\n<ul>\n<li><strong><span style=\"color: #000000;\">Income proof of the co-applicant<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong><span style=\"color: #000000;\">In <span style=\"color: #ff0000;\">the case of collateral<\/span> (immovable property), it can be flat, home, or non-agriculture land the following documents are required:<\/span><\/strong>\n<ul>\n<li><strong><span style=\"color: #000000;\">Property title deed<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">Building approved plan<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000000;\">NOC for a mortgage from a builder or society<\/span><\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span style=\"color: #ff00ff;\"><strong>Education Loan Interest Rates<\/strong><strong style=\"font-size: 22px; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif;\">\u00a0<\/strong><strong style=\"font-size: 22px; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif;\">\u00a0 <\/strong><\/span><\/h2>\n<p><strong style=\"font-size: 22px; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif;\"><span style=\"color: #000000;\"><span style=\"text-decoration: underline;\"><span style=\"color: #ff0000; text-decoration: underline;\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Banks\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0In India and In abroad\u00a0 \u00a0<\/span> \u00a0<\/span> \u00a0 \u00a0\u00a0<\/span><\/strong><\/p>\n<ul>\n<li><strong>Axis Bank\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 13.70% and 13.70%<\/strong><\/li>\n<li><strong>Canara Bank\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 8.50% and 8.50%<\/strong><\/li>\n<li><strong>Central Bank of India\u00a0 \u00a08.50% and 8.50%<\/strong><\/li>\n<li><strong>Corporation Bank\u00a0 \u00a0 \u00a0 \u00a0 \u00a08.80% and 8.80%<\/strong><\/li>\n<li><strong>Federal Bank\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a010.05% and 10.05%<\/strong><\/li>\n<li><strong>IDBI Bank\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a06.90% and 8.40%<\/strong><\/li>\n<li><strong>Indian Bank\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a07.15% and 7.15%<\/strong><\/li>\n<li><strong>Indian Overseas Bank\u00a0 \u00a010.65% and 10.65%<\/strong><\/li>\n<li><strong>Karnataka Bank\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a09.85% and 9.83%<\/strong><\/li>\n<li><strong>Karur Vysya Bank\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 10.75% and 10.75%<\/strong><\/li>\n<li><strong>OBC\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a07.05% and 10.65%<\/strong><\/li>\n<li><strong>PNB\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a07.05% and 10.65%<\/strong><\/li>\n<li><strong>SBI\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a07.00% and 8.80%<\/strong><\/li>\n<li><strong>UCO Bank\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a09.30% and 9.30%<\/strong><\/li>\n<li><strong>Union Bank of India\u00a0 \u00a0 \u00a0 \u00a08.40% and 8.05%<\/strong><\/li>\n<li><strong>United Bank of India\u00a0 \u00a0 \u00a0 10.65% and 10.65%<\/strong><\/li>\n<li><strong>Bank of <\/strong>\n<ul>\n<li><strong>Baroda\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a07.70% and 8.35%<\/strong><\/li>\n<li><strong>India\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 9.05% and 9.05%<\/strong><\/li>\n<li><strong>Maharashtra\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a08.55% and 8.55%<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"http:\/\/www.kumardirect.com\" target=\"_blank\" rel=\"noopener\">Kumar Direct<\/a><\/span> <span style=\"color: #000000;\">is one of the pioneers of international education in India (Since 1995). Our experienced and well-qualified team can help you in every stage of your migration process, from counselling to departure, each and every process at one place. <\/span><\/strong><\/p>\n<h3><span style=\"color: #ff00ff;\"><strong>\ud83d\udc49\ud83c\udffc<\/strong><strong> Our Contact Details<\/strong><\/span><\/h3>\n<p><span style=\"color: #ff6600;\"><strong>Team:<\/strong><\/span> <span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"http:\/\/www.kumardirect.com\" target=\"_blank\" rel=\"noopener\">Kumar Direct<\/a><\/strong><\/span><\/p>\n<p><span style=\"color: #ff6600;\"><strong>WhatsApp:<\/strong><\/span><span style=\"color: #000000;\"><strong> 9687778181<\/strong><\/span><\/p>\n<p><span style=\"color: #ff6600;\"><strong>Email:<\/strong><\/span><strong>\u00a0<span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"mailto:KumarDirect@kumardirect.com\">KumarDirect@kumardirect.com<\/a><\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Education Loan for Studying Abroad Studying abroad can be a life-changing decision, however, this doesn\u2019t come easy. Those who want to pursue higher studies abroad, but find it difficult to arrange for funds. For them, Education Loan is the option to make arrangements for funding their education. Eligibility criteria for Education loan The applicant should &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/ieltsnpte.com\/updates\/education-loan-for-studying-abroad\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Education Loan for Studying Abroad&#8221;<\/span><\/a><\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[270],"tags":[1221,1218,1220,1224,1216,1226,1212,1223,1225,1219,1222,1213,1214,1215],"class_list":["post-3154","post","type-post","status-publish","format-standard","hentry","category-admission-visa-process","tag-apply-education-loan","tag-bank-education-loan-interest-rates","tag-education-loan-for-abroad-studies","tag-education-loan-for-europe","tag-education-loan-to-study-abroad-without-collateral","tag-education-loans-for-australia","tag-education-loans-for-studying-abroad","tag-education-loans-for-uk","tag-education-loans-for-usa","tag-foreign-education-loan","tag-student-loans-for-canada","tag-the-loan-amount","tag-what-is-collateral","tag-which-is-accepted-as-collateral","entry"],"_links":{"self":[{"href":"https:\/\/ieltsnpte.com\/updates\/wp-json\/wp\/v2\/posts\/3154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ieltsnpte.com\/updates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ieltsnpte.com\/updates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ieltsnpte.com\/updates\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ieltsnpte.com\/updates\/wp-json\/wp\/v2\/comments?post=3154"}],"version-history":[{"count":30,"href":"https:\/\/ieltsnpte.com\/updates\/wp-json\/wp\/v2\/posts\/3154\/revisions"}],"predecessor-version":[{"id":4028,"href":"https:\/\/ieltsnpte.com\/updates\/wp-json\/wp\/v2\/posts\/3154\/revisions\/4028"}],"wp:attachment":[{"href":"https:\/\/ieltsnpte.com\/updates\/wp-json\/wp\/v2\/media?parent=3154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ieltsnpte.com\/updates\/wp-json\/wp\/v2\/categories?post=3154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ieltsnpte.com\/updates\/wp-json\/wp\/v2\/tags?post=3154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}