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Get Education Loan for Study Abroad

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How to get education loan for study abroad? Studying abroad has become more popular at present but it is not possible for everyone to achieve it. The major reason for this impossibility is lack of funds. When people were wondering about how to get education loan for study abroad, this article brings a better knowledge on it. – PowerPoint PPT presentation

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Date added: 8 June 2020
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Title: Get Education Loan for Study Abroad


1
Get Education Loan for Study Abroad
https//www.unikglobalservices.com/get-education-l
oan-for-study-abroad/
How to get education loan for study
abroad? Studying abroad has become more popular
at present but it is not possible for everyone
to achieve it. The major reason for this
impossibility is lack of funds. When people were
wondering about how to get education loan for
study abroad, this article brings a better
knowledge on it. Whatever is the university
chosen by the student, options are high for
getting an education loan to study abroad.
2
  • Financial limitation have vanished the dream of
    study abroad for many students. Being aware of
    education loan for study abroad can make your
    dream come true. Let this article be a
    life-changing moment for study abroad aspirants.
  • Importance of education loan for study abroad
    Money has become the deciding factor for
    everything that happens in our life. Success and
    failure of your efforts mostly depends on money,
    especially for study abroad.
  • Many drop their plan of studying abroad due to
    lack of fund. Financial loan plays the most
    important part in making your dream come true.
    Varieties of financial loans are available for
    study abroad and it is the responsibility of the
    student to explore the opportunities.
  • Features of education loan for study abroad
  • Such loan demands a co-applicant
  • The student should be an Indian citizen
  • Confirmation of admission is very important
  • Various options of collateral are accepted
  • These loans are available only for under
    graduation and post- graduation programs
  • Types of education loan for study abroad
  • Education loan for study abroad is available
    depending on your academic
  • requirements. The terms and conditions for study
    abroad loan is totally different from domestic
    education loan. This article highlights the
    different types of education loan available for
    Indian students
  • Bridge Loan
  • This loan is found to be useful for students who
    struggle to manage their pre- application
    expenses. Pre-application expenses include an
    interview, application, examination, etc. this
    loan demand educational background of the
    students and also the application of the abroad
    universities approved by banks. The rate of
    interest for this loan is quite affordable.

3
  • Pre-visa loans
  • Getting a visa for studying abroad demands enough
    fund in the account. This amount is to prove
    that the candidate is eligible to afford his/her
    expense in a foreign country. To receive
    pre-visa education loans, conditional offer
    letter from the institution is required.
  • Pre-admission Loans
  • Expenses other than academic needs come under the
    pre-admission loan. Travel expenses cost
    involved in admission processes, tuition deposits
    etc can be managed using this loan. This option
    is available only for study abroad aspirants.
  • Refinancing Loans
  • This type of loan can be availed by students who
    struggle to repay their education loans. This
    type of loan demands repayment tag and also the
    availability of fund for repayment. Refinance
    can also be used by students for extending the
    loan tenure.
  • Consolidated Loans
  • This loan includes expenses related to
    accommodation, books, travel, deposits,
    insurance, exam, books, and other related
    expenses. The term consolidated emerged because
    of the possibilities to merge different loans to
    reduce processing fee.
  • Limitation for loan amount
  • The loan amount ranges from 10 lakhs to a maximum
    of 1.25 crores.
  • Rate of interest interest rate ranges from 9.7
    to 16.2 per annum.
  • Loan tenure the minimum duration starts from 5
    years to a maximum of 25 years
  • Moratorium Period there are two options one six
    months after employment or twelve months
  • after completion of the course Processing
    charges processing charges ranges from zero to
    15

4
What is the Courses eligiblity for study abroad
loans
  • Education loan for study abroad is available for
    the following courses
  • Undergraduate degrees
  • Diploma programs
  • Postgraduate course and
  • Doctorate programs
  • Indian Banks offering Education Loans for
    Studying Abroad
  • List of banks providing education loans for study
    abroad
  • State bank of India
  • this bank offers a maximum amount of 20 lakhs as
    education loan at an interest rate of 10.70 per
    annum.
  • HDFC bank
  • the maximum amount that can be availed from this
    bank is 36 lakhs and the interest rate is 14.88
    per annum.
  • ICICI Bank
  • the maximum amount offered by this bank is 3
    crores and the interest rate is 11.50 per annum
  • Canara Bank
  • a maximum amount of 36 lakhs is offered by this
    bank at the interest rate of 10.70 per annum
  • There are still other banks providing financial
    loan for study abroad. The student
  • can choose the bank according to their
    convenience. It is mandatory to provide all the
    required documents while applying for education
    loan for study abroad.
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