• Education Loans
Education loan with Collateral to Study Abroad
667 Reads
3 min Read
• Collateral-based loans are important for any Indian student who aims to study abroad.
• Collateral education loans are preferred as they offer a high amount for a longer time at low interest rates.
• Read this blog to learn about collateral education loans, such as their eligibility, required documents, advantages, features, best loan providers and more.
Table of Contents
- • What is an Education Loan with Collateral?
- • Types of Collateral Required to Study Abroad
- • Features of an Education Loan with Collateral
- • Eligibility Criteria for Collateral-based Education Loan to Study Abroad
- • Documents Required for Education Loan with Collateral
- • Advantages of Education Loan with Collateral
- • Expenses Covered Under Collateral-based Education Loan
- • Best Collateral-based Education Loan Providers in India
- • How to Apply for an Education Loan with Collateral in 2024
What is an Education Loan with Collateral?
Importance of Education Loan with Collateral to Study Abroad
Types of Collateral Required to Study Abroad
Features of an Education Loan with Collateral
Eligibility Criteria for Collateral-based Education Loan to Study Abroad
Documents Required for Education Loan with Collateral
Advantages of Education Loan with Collateral
Higher Loan Amount | Getting the loan with collateral allows the borrower to get a higher loan amount. This is because the lenders get a sense of security that if the borrower defaults, then they can simply sell the asset and get their money back. |
Lower Interest Rates | Students who pledge an asset to a lender can get a lower interest rate on the loan as it reduces the risk of the lender recovering the amount. Students can save a lot on interest by having a lower interest rate. |
Higher Chances of Loan Approval | Securing a loan with collateral increases the chances of the borrower getting the loan to study abroad. This is because the collateral assures lenders that they can recover the money. |
Longer Repayment Tenure | The loans with collateral provide more time for the borrower to return the money. This allows students to pay the money easily once they have enough funds. This also reduces the burden of paying money while studying, and students can study stress-free. |
Flexibility in collateral options | Another benefit of collateral education loans for study abroad is that students can have flexibility in choosing collateral options depending upon the lender. Students can pledge assets such as investments, property or other valuable possessions. The collateral must align with the student’s financial situation and preferences. |
Expenses Covered Under Collateral-based Education Loan
Best Collateral-based Education Loan Providers in India
Name of the Bank | Loan Amount | Repayment Tenure (maximum) |
HDFC Credila | Over 1 Crore | 12 years |
Avanse | Minimum 1 lakh (no cap) | 15 years |
ICICI | 2 Crore Maximum | 14 Years |
Yes Bank | 40 Lakh Maximum | 15 years |
How to Apply for an Education Loan with Collateral in 2024
Conclusion
FAQ
Get great articles direct to your inbox
The latest news, articles, and resources, sent straight to your inbox every month.
Popular Universities to Study Abroad
World class education waiting for you.
![MacEwan University logo](https://www.canamgroup.com/assets/universitylogos/1658989875-macewan-university.png)
![New Zealand Skills and Education College (NZSE) - Auckland CBD Campus logo](https://www.canamgroup.com/assets/universitylogos/1680328477-New-Zealand-School-of-Education.png)
New Zealand Skills and Education College (NZSE) - Auckland CBD Campus
Auckland, New Zealand • 8 Programmes
Tuition Fee : NZD 18000-18500 / year
![Wittenberg University logo](https://www.canamgroup.com/assets/universitylogos/1721995045-whittenberg-university.webp)
![State University of New York - Oswego logo](https://www.canamgroup.com/assets/universitylogos/1691133639-State-University-of-New-York-Oswego.webp)
State University of New York - Oswego
New York, USA • 72 Programmes
Tuition Fee : USD 18000-19000 / year
![Shorelight Group - Western New England University logo](https://www.canamgroup.com/assets/universitylogos/1689765081-Shorelight-Group-Western-New-England-University.webp)
Shorelight Group - Western New England University
Massachusetts, USA • 42 Programmes
Tuition Fee : USD 0-0 / year
![Upper Iowa University - Fayette Campus logo](https://www.canamgroup.com/assets/universitylogos/1691389978-Upper-Iowa-University-Des-Moines-Campus.webp)
Upper Iowa University - Fayette Campus
Iowa, USA • 23 Programmes
Tuition Fee : USD 32589 -32589 / year
![Assiniboine Community College - Victoria Avenue East Campus (Brandon) logo](https://www.canamgroup.com/assets/universitylogos/1718341105-Assiniboine.webp)
Assiniboine Community College - Victoria Avenue East Campus (Brandon)
Manitoba, Canada • 34 Programmes
Tuition Fee : CAD 15000-22500 / year
![New Brunswick Community College - Moncton Campus logo](https://www.canamgroup.com/assets/universitylogos/1658989958-new-brunswick-community-college.png)
New Brunswick Community College - Moncton Campus
New Brunswick, Canada • 52 Programmes
Tuition Fee : CAD 10500-11000 / year
Popular English Language Proficiency Exams
Blogs and Articles
Curated content to keep you updated on the latest education trends, news and more.
Updated on • Jul 26,2024 05:14 PM IST • Study in Canada
CELPIP Writing Section: Email Writing Task 1
Updated on • Jul 26,2024 03:30 PM IST • CELPIP
Updated on • Jul 26,2024 01:06 PM IST • Study in Ireland
Updated on • Jul 25,2024 05:28 PM IST • Study in Germany
Improve IELTS Listening Skills
Updated on • Jul 25,2024 05:22 PM IST • IELTS
Updated on • Jul 25,2024 03:08 PM IST • study in the UK
Complete Undergraduate Admissions Guide to Study in Germany
Updated on • Jul 23,2024 01:59 PM IST • Study in Germany
10 Part-time Jobs in UK for International Students
Updated on • Jul 23,2024 01:47 PM IST • study in the UK
Part-time Jobs in Canada for International Students
Updated on • Jul 20,2024 12:52 PM IST • Study in Canada
IELTS Speaking Part 1 Topics and Questions
Updated on • Jul 16,2024 05:46 PM IST • IELTS
F-1 visa for international students: Eligibility, Application, Requirements and Process
Updated on • Jul 16,2024 04:37 PM IST • USA
Top 10 Benefits of Studying in Australia for Indian Students
Updated on • Jul 15,2024 05:41 PM IST • Australia
How Can Overseas Study Experience Help You In Your Career?
Updated on • Jul 15,2024 03:31 PM IST • Study Abroad
Updated on • Jul 13,2024 05:59 PM IST • Study in Germany
Updated on • Jul 12,2024 05:59 PM IST • USA
Benefits of 1+1 Programs in Canada
Updated on • Jul 12,2024 04:06 PM IST • Study in Canada
Facts to Know Before Studying in Australia
Updated on • Jul 12,2024 03:38 PM IST • Australia
Australian Student Visa Interview Questions and Answers
Updated on • Jul 11,2024 03:26 PM IST • Australia
TOEFL Accepted Universities in USA
Updated on • Jul 08,2024 05:49 PM IST • TOEFL
Why take Study Abroad Counselling?
Updated on • Jul 08,2024 05:30 PM IST • Study Abroad
Related Blogs and Articles
A little effort to provide an authentic and reliable content for keen readers!!
Education Loan Against Property for Studying Abroad
Updated on • 28-05-2024 • Education Loans
Student Education Loan to Study in Canada - Eligibility, Documents Required, How to Apply
Updated on • 18-05-2024 • Education Loans
Study Loan for Canada : A Complete Guide
Updated on • 18-03-2024 • Education Loans
Foreign Education Loan Approval Factors: Program Type and Country
Updated on • 28-02-2024 • Education Loans
Difference between Private banks, Public banks and NBFCs
Updated on • 15-01-2024 • Education Loans
Impact of CIBIL on interest rates, disbursal TAT & Loan Amount
Updated on • 08-01-2024 • Education Loans