jayaprakash2253 wrote:
Mayank2711 wrote:
Hi all,
I had a query regarding student loan from India.
Did you have to provide collateral ? Is it needed above a certain threshold ?
If none was needed, which provider did you go ahead with ?
It depends on where you are taking loan from. For HDFC we can get with or with our collateral, but interest rate changes, for SBI you need Rs100 Collateral for Rs 70 loan. You can also try
prodigy finance, they don't need any collateral and they do provide loans for IVEY, low-interest rate compared to Indian Banks. All the best
Thanks a ton for the speedy response !
I was checking in for a friend who is looking at Schulich.
He saw that
Prodigy and MPower Finance are recommended by Schulich too.
But he also came across a list which says for visa approval student loan should be from banks governed by RBI. And HDFC and IDBI are clear that they need collateral for above 25l.
So he was wondering if going with
Prodigy or MPower might create visa approval issues. (basically looking to get examples of people who finance through them and got visas approved)
I am not sure about the list. But I know people who took loan from
and got visa for IVEY and USC. Your friend can talk to college people they would best answer this question of its a college related guideline.