SA_Scholarships & Loans

Students can avail of a loan of up to INR 4 lacs without collateral. For loans, up to INR 7.5 lacs, parents or guardians are made joint borrowers and a third party guarantee is obtained. For a loan exceeding INR 7.5 lacs property or any other asset is required as collateral.

Generally, banks and NBFCs prefer to give loans for undergraduate and postgraduate courses. Also, the majority of banks prefer to give education loans abroad for pursuing job oriented and professional courses. Note that, if the university you are applying is reputated then you will face less issue while applying for loan.

Yes, a 12th-pass student can get a study loan from a bank or NBFC to study abroad. The only condition is fulfilling the eligibility criteria decided by the banks for offering loans. It can vary for different banks and financial institutions. We have mentioned some general eligibility below:

• Secure admission to a recognised foreign university or institution.
• Have a co-applicant.
• Meet the minimum academic requirements.
• Must have all required documents (Academic and personal).

Here is the list of required documents for the education loan application. It can vary slightly depending on the bank or lender you choose:

• Filled application form
• KYC Documents (Know Your Customer) such as ID proof, residence proof, and more
• Academic Transcripts and Mark Sheets
• Co-applicant/Guarantor Documents such as ID proof, income proof and bank statement.