You don’t need to provide any collateral to avail an unsecured personal loan and you can repay it with EMI spread over a flexible tenor.
In this way, can I get 20 lakhs education loan without collateral?
Collateral Required for Education Loan
20 lakhs. Guidelines show that loan taken up to Rs. 4 lakhs does not require collateral security. It is only when the loan exceeds a specified amount as set by the bank that collateral will be required as well as third-party guarantee.
Besides, can I get 50 lakhs education loan without collateral?
30-50 lakh. For any loans up to Rs. 4 lakh you will not be required to provide any collateral or third-party guarantee.
Can I get education loan without collateral?
Lenders you can approach for an education loan without collateral. Public banks – Public banks like SBI, BOB, etc according to their policies can only provide up to 7.5 lakhs student loan without collateral irrespective of the course and country.
All that a borrower needs to do is have an earning co-applicant and he can apply for an international education loan without collateral directly to the lender.
Banks generally ask for co-applicant details when you apply for a collateral free loan. Not only this, banks also ask for the income documents such as salary slips or income-tax returns (ITR) of the co-applicant before sanctioning the education loan. … However, you can get an education loan without pledging any security.
Titled Restart India Vidya Dhan Gold Loan, the new interest-free loan will be available to up to 1,00,000 applicants on a first-come, first-serve basis through 3,600 plus Muthoot Fincorp branches across India.
Education loans secured with collateral are known as secured loans. Many banks and non-banking financial institutions provide education loans without for collateral which are known as unsecured loans. … All banks and NBFCs require parents to be join-borrowers on an education loan.
Generally, education loans are unsecured in nature.It means you do not have to pledge any asset as collateral. However, education loans with loan amount of Rs. 7.5 lakh or higher, may require collateral. Though there is no cap on the disbursed loan amount, the loan amount can range anywhere between Rs 20-50 lakhs.
A non-collateral loan is also known as an unsecured loan. Here the loan is availed by evaluating the creditworthiness of a borrower bereft of collateral. The lender sanctions such loans to an individual who meets the eligibility criteria set by banks.
The bank filed the present appeal saying candidates who have secured 60% marks and above alone are eligible to get education loan as they alone can be treated as meritorious candidates.
Top Education Loans Providers in India for Study Abroad
- HDFC Bank. HDFC Bank offers education loans with preferential interest rates for reputed universities. …
- State Bank of India. …
- Axis Bank. …
- Punjab National Bank. …
- Bank of Baroda. …
- Canara Bank. …
- IDBI Bank. …
- Avanse Financial Services.
Compare Top Education Loan Offers 2021
|Name of Bank||Interest Rate (p.a.)||Loan Amount|
|Axis||13.70% to 15.20%||Up to 75 Lakh|
|Bank of Baroda||7.85% to 9.85%||Up to 4 Lakh and above|
|HDFC||9.55% to 13.25%||Max Apr|
|Tata Capital||10.99% onwards||Up to 30 Lakh|