Getting a collateral free loan in India

Question

Where did you get this information? Because my brother is working in a State Bank of India and he said that you need to provide collateral or security. If your information is true, then this will be good for Indian students.

shameekv1989 · Answer

grad202  :- Do you have some links that you can share for more information on this? Very interesting to know.

Additionally, your first post mentions 75 lacks and the second mentions 7.5 (which is nothing compared to what you need as tution fees abroad) - can you clarify and if possible share some links. It would be a great help!

prateekchugh · Answer

Hey  sanyaswain . Its look like your post is just to promote Gradright. I Understand this, but you should know that we are students and we can easily know who is writing a genuine review or who is not. You may be right but at least you need to prove that you are a genuine student in the Gmatclub.

Nikhil · Answer

It doesn't look purely promotional to me. The user was sharing her personal experience with the mentioned company which is reasonable

We have a mechanism to verify whether a review is genuine or not but we don't need to go that route here, IMO.

Nikhil · Answer

Hi, welcome to the forums. Are you done with your GMAT/GRE and will you be applying this year's intake or the next year's?

GyanDhan_Finance · Answer

Hi,

We want to make it clear that not all education loans require collateral. Unsecured education loans are designed for this purpose, meaning you don't need to offer any assets as security. Instead, what you'll typically need is a financial co-applicant.

In India, various lenders, such as private banks like AXIS, ICICI, and IDFC, offer unsecured education loans. To qualify, you must meet their eligibility criteria and ensure that your chosen university or college is on their list of approved institutes. The maximum loan amount you can get from these lenders can go up to 50 lakh INR.

There are also Non-Banking Financial Companies (NBFCs) like HDFC Credila, Avanse, Auxilo, and InCred that provide unsecured education loans. These loans may have a slightly higher interest rate compared to private banks. However, they have more flexible eligibility criteria and a broader list of approved universities and colleges. With NBFCs, you can secure education loans of up to 65 lakh INR.

We hope this helps. To apply for an education loan you can click on the link in our signature to this post. We will assign you a dedicated education loan counselor who will help you get an abroad education loan without collateral. Also, we will not charge you anything.

Getting a collateral free loan in India

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