• Education Loans
Education Loan Against Property for Studying Abroad
226 Reads
3 min Read
- Loan against property for education abroad offers benefits in terms of tenure, interest rates and more.
- Such loans are offered by public & private banks and NBFCs.
- Eligibility criteria for such loans are the basic requirements to apply for a loan, but the loan amount, interest rate and tenure is decided by the lending institutes based on factors like value of property, income, etc.
What is an Education Loan Against Property?
- with movable collateral like a fixed deposit or bond
- with immovable collateral like a flat, house, bungalow, or non-agricultural land.
A loan against property can be used for various purposes; however, its use for international education falls under the category of loan for personal use.
Why take an Education Loan Against Property?
Criteria | Education Loan without Collateral | Education Loan Against Property |
Loan Amount |
| Up to Rs.10 Crore (some loans may go up to 25 crore) |
University Acceptance | Required | Not Required |
Maximum Interest Rates | 9.95 % | 8.4 % |
Maximum Loan Tenure | 15 Years | 20 Years |
Lending Institutes for Education Loan Against Property
- Government banks
- Private banks
- Non-banking financial corporations.
Government Banks
Lending Institute | Maximum Loan Amount | Interest Rate | Maximum Loan Tenure |
SBI Bank | Rs. 5 crore | 1.45% to 2.5% + 1yr Marginal Cost of Funds-based Lending Rate (MCLR) | 15 years |
Union Bank | Rs. 10 crore | 10.45% - 13.10% | 15 years |
Punjab National Bank | Up to 65% of property value | 9.20% - 9.70% p.a. | 15 years |
Canara Bank | Rs. 7.5 crore | 10.85% - 11.35% | 15 years |
Bank of India | Rs. 7.5 crore | 11.25% per lakh | 15 years |
Private Banks
Lending Institute | Maximum Loan Amount | Interest Rate | Maximum Loan Tenure |
Axis Bank | Rs. 5 crore | 10.50% - 10.95% | 20 years |
ICICI Bank | Rs. 5 crore | 10.85% - 12.5% | 15 years |
HDFC Bank | Up to 65% of property value | 9.50% - 13.30% | 15 years |
Indusind Bank | up to 80% of property value | 8.90% - 13.90% | 20 years |
Kotak Mahindra Bank | Rs. 5 crore | Starts at 9.15% | 5 years |
Citi Bank | Rs. 5 crore | 10.50% - 10.95% p.a. | 15 years |
IDBI Bank | Rs. 10 crore | 9.5% - 11.70% | 15 years |
IDFC First Bank | Rs. 10 crore | 9% - 20% | 25 years |
Non-banking Financial Institutions (NBFCs)
Lending Institute | Maximum Loan Amount | Interest Rate | Maximum Loan Tenure |
Tata Capital | Rs. 7.5 Crore | Starts at 10.10% | 20 years |
Bajaj Finserv | Rs. 10.5 crore | 8% - 14% | 15 years |
Mahindra Finance | Rs. 25 lakh | 6% - 26% | 5 years |
NOTE: Interest rates and other details mentioned in the table depend on the value of the property mortgaged and a range of other factors; rates mentioned here may vary.
Education Loan against Property Eligibility
Documents List for Education Loan Against Property
- Proof of residence in the form of Ration Card, Telephone Bill, Electricity Bill, or Voter’s ID Card
- Proof of identity in the form of Voter’s ID Card, or Employer’s Card
- Bank statement of the past six months
- Salary slip or documents showing deductions for the past six months (if applicable)
- Business profile documents (if applicable)
- Form 16 (TDS deductions) for the previous 2 years
- Documents of concerned property to be pledged for the loan
- Passport-size photographs
How to Apply for a Loan Against Property?
- Consult the international education advisor who helped with the admission process for suitable loan options. This includes checking for eligibility, amount, interest rate and other factors important to you.
- Select a loan option that best suits you.
- Download the application form and fill in the details (with the guidance of the international education expert)
- Submit the form with copies of the required documents
- Wait for application processing and approval
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.
![The University Of Winnipeg - Professional, Applied And Continuing Education (PACE) logo](https://www.canamgroup.com/assets/universitylogos/1711998584-The-University-Of-Winnipeg-PACE-Logo.png)
The University Of Winnipeg - Professional, Applied And Continuing Education (PACE)
Manitoba, Canada • 12 Programmes
Tuition Fee : CAD 14000-18000 / year
![Nottingham Trent University - City Campus logo](https://www.canamgroup.com/assets/universitylogos/1712576237-Nottingham-Trent-University.webp)
Nottingham Trent University - City Campus
England, UK • 106 Programmes
Tuition Fee : GBP 15000-16500 / year
![San Mateo Colleges of Silicon Valley logo](https://www.canamgroup.com/assets/universitylogos/1715059115-San-Mateo-Colleges-of-Silicon-Valley.webp)
San Mateo Colleges of Silicon Valley
California, USA • 59 Programmes
Tuition Fee : USD 9000-10000 / year
![Vancouver Community College - Broadway Campus logo](https://www.canamgroup.com/assets/universitylogos/1709354033-Vancouver-Community-College.webp)
Vancouver Community College - Broadway Campus
British Columbia, Canada • 15 Programmes
Tuition Fee : CAD 16500-28000 / year
![Nottingham Trent University - Clifton Campus logo](https://www.canamgroup.com/assets/universitylogos/1712576254-Nottingham-Trent-University.webp)
Nottingham Trent University - Clifton Campus
England, UK • 95 Programmes
Tuition Fee : GBP 15000-16500 / year
![Leeds Beckett University - Headingley Campus logo](https://www.canamgroup.com/assets/universitylogos/1665828501-Leeds-Beckett-University-Headingley-Campus.png)
Leeds Beckett University - Headingley Campus
England, UK • 81 Programmes
Tuition Fee : GBP 14000-13000 / year
![University of Oregon logo](https://www.canamgroup.com/assets/universitylogos/1715059352-University-of-Oregon.webp)
![Loughborough University logo](https://www.canamgroup.com/assets/universitylogos/1715082748-Loughborough-university.webp)
Popular English Language Proficiency Exams
Blogs and Articles
Curated content to keep you updated on the latest education trends, news and more.
Updated on • Jun 15,2024 11:32 AM IST • Study in Canada
IELTS GT Writing Task 1/ IELTS Letter Writing
Updated on • Jun 14,2024 03:58 PM IST • IELTS
How to Select the Best IELTS Coaching Institute?
Updated on • Jun 14,2024 12:41 PM IST • IELTS
MIM vs. MBA in UK: Which Fits Your Career Goals?
Updated on • Jun 14,2024 11:30 AM IST • UK
Frequently Asked Questions about Study in Canada
Updated on • Jun 12,2024 04:48 PM IST • Study in Canada
Updated on • Jun 12,2024 01:58 PM IST • Australia
Scholarships in Germany for International Students
Updated on • Jun 12,2024 12:44 PM IST • Study in Germany
Increase your CRS Score with 1-year Master's in Canada
Updated on • Jun 11,2024 05:53 PM IST • Study in Canada
Part-time Jobs in Singapore for Indian Students
Updated on • Jun 10,2024 01:16 PM IST • Singapore
Health Insurance in Germany for International Students
Updated on • Jun 10,2024 01:15 PM IST • Study in Germany
Cost of Living in USA for Indian Students
Updated on • Jun 07,2024 05:57 PM IST • USA
Top Undergraduate Scholarships for Indian Students to Study Abroad
Updated on • Jun 07,2024 05:47 PM IST • Scholarships
B tech in USA: Best Universities, Eligibility, Admission Requirements, Courses, Scholarships, Jobs
Updated on • Jun 05,2024 05:38 PM IST • USA
MS in Artificial Intelligence (AI) in USA: Best Universities, Eligibility, Courses, Scholarship, Job
Updated on • Jun 05,2024 05:37 PM IST • USA
Updated on • Jun 05,2024 04:27 PM IST • USA
Updated on • Jun 05,2024 12:36 PM IST • UK
Entrance exams to study in Canada
Updated on • Jun 04,2024 04:47 PM IST • Study Abroad Guidance
How to Study in the UK Without IELTS?
Updated on • Jun 04,2024 04:23 PM IST • UK
Enhance Your IELTS Vocabulary for Environment
Updated on • Jun 04,2024 11:31 AM IST • IELTS
Masters in Marketing in UK: A Complete Guide
Updated on • Jun 03,2024 04:52 PM IST • UK
Related Blogs and Articles
A little effort to provide an authentic and reliable content for keen readers!!
Student Education Loan to Study in Canada - Eligibility, Documents Required, How to Apply
Updated on • 18-05-2024 • Education Loans
Education loan with Collateral to Study Abroad
Updated on • 01-05-2024 • 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