Finance your study in foreign country with student loans.
There are few prestigious institutes for higher education in India and therefore, many aspirants are not leaving any stoned unturned to secure their admission in foreign countries. They study hard in higher secondary school, score merits in the entrance exam and ensure to bank an admission in their dream university. However, higher education price is skyrocketing high in today's time and many aspirants have to compromise on their dream studies. Thanks to the Education Loan Abroad that helps millions of aspirants to fund their education in top-notch universities/institutes in the foreign country. You can opt to study in some of the most popular destinations like USA, Canada, UK, Germany, Australia, Singapore, New Zealand, UAE, France, and Ireland.
Educational Loan for Abroad Studies is far more cost-effective and flexible compared to traditional finance or personal loans. You can avail loan at an attractive interest rate of 11-15% and there is a special concession of 0.5% for women applicants on the interest rates. There are many leading public, private sector banks, and non-banking financial institutions that offer customized loan solutions such as a pre-admission loan, pre-visa disbursement loan, score based products, 100% funding for meritorious students, wider course and country coverage, bridge up loan, etc.
Experts suggest the time while preparing for entrance exam should be utilized to compare loans of different lenders. You can visit online aggregator sites and compare apple-to-apple in terms of interest rates, processing fee, principal loan amount, flexible repayment options and loan tenures, and other charges applicable while availing the loan.
Private firms are willing to offer an unsecured loan up to Rs 50 lakhs with instant loan sanction within one day. So, don’t have to worry about the collaterals when approaching government banks when you can easily draw a solution from private finance companies. They are willing to offer 100% education finance and cover entire education expenses such as tuition fees, exam fees, lab and library fees, caution deposit, travel, books and equipment, projects, thesis work, and study tours.
Some common eligibility criteria to apply for Education Loan Abroad:
- You have to be an Indian National between 18 to 35 years
- Should have secured admission to foreign university/institute
- Good academic history
- Good credit history of the co-applicant/ income details/ ITR returns/ bank statements
- University Ranking, course types, and further job/entrepreneurship prospects
- Country & its forex rates
- Collaterals such as plot land, policy equivalent to the loan amount, investment returns
Lenders will evaluate the details and offer loan amount with a particular rate of interest. With good academic history and a credit score of co-applicants with a strong display of income source, you can negotiate with the lenders to lower the interest rates.
You can repay your loan from abroad and you don’t have to start making the payment immediately. Instead, you can wait for the course completion and start your EMIs after six months to one year of the course completion. It is termed as moratorium period. Experts say if you live a sedentary lifestyle, opt for a part-time job you can start making payments to some extent for interest rates. This will significantly bring down your loan costs.
Don’t let financial obstacles ruin your career. Instead, reach out to the reputed private lenders and let them find a customized solution that will take you closer to your educational dreams. Apply for education loan abroad online now!
