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Best Education loan for abroad

Are you looking for the best education loan for abroad in India to help you finance your studies abroad? It is difficult to choose which bank offers the best student loan for studying outside India. Quick Rashi helps you to provide best Education loans for students to borrow money to pay for higher education in India or abroad.

We realise how important your dream is to you, and you want to do all possible to make it come true.In this blog, we will tell you how to find the finest education loan in India for studying abroad.

Quick Rashi the best Loan provider:-

For many students those who are looking for an easy process and terms when choosing an education loan.

Here are some key factors to consider:

1. Loan Amount and Coverage: The loan should cover tuition, living expenses, travel, and other charges. Calculate the total expenses to determine the loan amount required.

2. Interest Rates: Interest rates can have a substantial impact on overall repayment amounts. Look for competitive rates and know if they are fixed or changeable.

3. Repayment conditions: Beneficial repayment conditions, such as post-graduation grace periods, flexible EMI options, and prepayment penalties, are essential.

4. Processing Time: Quick Rashi needs a loan with a quick approval process in order to gain admission and plan ahead of time.

5. Collateral Requirements: Consider if collateral is necessary and the consequences of providing it.

Here we have mentioned a table to help you understand the current rate of interest of Indian Banks.

Banks in India

Education Loan Interest Rate

State Bank of India Education Loan

6.70% onwards

Canara Bank Education Loan

7.30% to 9.30%

Punjab National Bank Education Loan

7.15% onwards

Bank of Baroda Education Loan

7.15% onwards

ICICI Bank Education Loan

10.50% onwards

Axis Bank Education Loan

13.70% to 15.20%

Kotak Mahindra Bank Education Loan

Up to 16.00%

HDFC Bank Education Loan

12.50%

Types of Education Loans for Studying Abroad:

Students in India can choose from various education loans to finance their studies abroad.There are 2 types of loans that are available for study abroad.

Education Loan Types:-

There are two main types of education loans in India.

Secured Education Loan- Banks ask for collateral at the time of offering secured student loans in India. It can be anything such as a fixed deposit, property, etc. Usually, banks offer secured study loans with lower interest rates compared to unsecured loans

Unsecured Education Loan- As you can understand by name, banks offer such loans without any collateral. This results in higher interest rates compared to secured loans.

Eligibility Criteria for Best Education Loan in India:-

The eligibility criteria for education loans vary from bank to bank. However, we have mentioned some generic eligibility criteria for student loans.

Profile of students, such as age, academic background, and nationality.

Course reputation or university selection.

Profile of Co-applicant such as financial stability and creditworthiness of the co-applicant (usually a parent or guardian).

List of Documents Required for Student Loan in India:-

Here is the list of required documents for student loans that students need to keep handy at the time of application.

Valid ID card approved by the government such as PAN/ Passport/ Driver’s License/ Voter ID card

Proof of Residence/ Address (either): Recent copy of utility bill

Income Proof of applicant or co-applicant

Valid Indian Passport

Academic Records

Entrance Exam Results IELTS.

Proof of admission including the offer letter or admission letter from the university

Statement of cost of study/ Schedule of expenses

2 passport-size photographs

In the End:-

Having an education loan for study abroad can be a critical step toward achieving academic and professional goals. Quick Rashi can make an informed decision by first knowing her individual needs because we are the best education loan for abroad. Remember that the correct education loan not only gives financial assistance, but also lays the groundwork for a successful academic adventure abroad.

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