How To Get Non Collateral Education Loan?

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How To Get Non Collateral Education Loan
The following is the list of documents required to avail an education loan without collateral:

  1. University offer letter mentioning tuition fees.
  2. Academic documents.
  3. Employment documents.
  4. KYC documents of both applicant and co-applicant.
  5. Address proof along with electric bill.

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Which bank provides non collateral education loan?

Frequently Asked Questions about Education Loan without Collateral – Ques. What are some top lenders to apply for a loan without collateral for abroad education? Ans. Some of the best lenders to apply for an education loan without collateral for abroad are:

Public banks like SBI, Bank of Baroda Private banks like ICICI Bank, HDFC Bank NBFCs like Incred, Auxilo Foreign lenders like Leap finance, Prodigy finance

Ques. What is the minimum percentage required to apply for an education loan for study abroad without collateral? Ans. While the percentage might differ with different education loan schemes, for a majority of loans, the minimum required percentage is usually observed to be 60%.

Application form for the loan Income proof for the family (income tax returns, property proof, etc) Standardised test scores Academic transcripts Aadhar card Birth certificate Bank statements PAN Card Residential proof Acceptance letter from university abroad Self declaration

Ques. Can I apply for an education loan for MBBS abroad without collateral? Ans. Yes, you can apply for an education loan for MBBS abroad without collateral. Ques. Will I be charged a processing fee? Ans. Public banks do not charge a processing fee for a loan without collateral for abroad education, but private banks are observed to charge upto 1% of the loan amount plus GST.

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Faster processing time Hasslefree paperwork

Ques. What are some reasons for rejection for a study abroad loan without collateral? Ans. Some reasons for rejection are:

Applying for a UG program, as a PG program is of a short duration Age of the applicant or co-applicant FOIR or fixed obligation to income ratio (When co-applicant’s EMIs are higher than affordability)

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Can I get 40 lakhs education loan without collateral?

Frequently Asked Questions – The max. education loan amount offered by Axis Bank is INR 40 Lakhs without collateral and INR 1 Cr. with collateral. Ranges between 11% to 13%. Exact rate depends on the type of loan and applicant profile. The tenure of an Axis education loan is up to 20 years.
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Does SBI provide 100% education loan?

SBI Extends Offer for One-Time Settlement of Education Loan 4,00,000 education loan can avail this offer. Borrowers can be eligible for up to 100% concession in rate of interest and 90% concession on the loan amount borrowed from the Bank.
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Can I get 40 lakhs education loan without collateral?

Frequently Asked Questions – The max. education loan amount offered by Axis Bank is INR 40 Lakhs without collateral and INR 1 Cr. with collateral. Ranges between 11% to 13%. Exact rate depends on the type of loan and applicant profile. The tenure of an Axis education loan is up to 20 years.
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