Which bank in India gives education loan without collateral?
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Which bank in India gives education loan without collateral?
Banks offering Education Loans and Collaterals Required
| Bank | Loan Amount and Collateral Required |
|---|---|
| HSBC | Loan up to Rs.5 lakhs do not require collateral |
| State Bank of India (SBI) | Domestic Education – Up to Rs.15 lakhs Foreign Education – Up to Rs.20 lakhs For loans up to Rs.7.5 lakhs no collateral is required |
Can I get education loan without collateral in India?
Lenders you can approach for an education loan without collateral. But for some top-tier institutes in India, you can avail up to 40 lakhs of unsecured education loans from SBI. Private banks – Private banks can offer up to 40 lakhs of education loan for abroad studies without collateral.
What is the maximum amount of student loans you can get in India?
In general, you can get up to 4 lakhs of educational loan for higher studies without any collateral. Under education loan scheme, you can get a maximum of 15 lakhs for studies in India and more 25 lakhs for abroad studies.
Which bank is best for student loan in India?
Compare Top Education Loan Offers 2021
| Name of Bank | Interest Rate (p.a.) | Processing Fees |
|---|---|---|
| Bank of India | 8.95\% to 9.75\% | Nil for courses in India Rs.5,000 + other fees for study abroad |
| Kotak Mahindra Bank | Up to 16\% | Contact the bank |
| ICICI Bank | 10.50\% onwards | Contact the bank |
| Federal Bank | 10.05\% onwards | Contact the bank |
How much student loan can I get without collateral in India?
Public banks – Public banks like SBI, BOB, etc according to their policies can only provide up to 7.5 lakhs student loan without collateral irrespective of the course and country. But for some top-tier institutes in India, you can avail up to 40 lakhs of unsecured education loans from SBI.
What is the maximum loan amount for studying in India?
The maximum loan amount for studying in India is limited to Rs. 20 Lakhs. Whereas, all the cost of education is covered under the loan for foreign education, with no upper limit. But you need to provide collateral in the form of a fixed deposit or immovable property to the bank.
Which is the best bank for education loan in India 2021?
First, let’s check the 11 best banks for education loan in India 2021. #1. HDFC Bank Education Loan Maximum Loan Limit: Rs. 20 Lakhs and above. HDFC Bank grants education loans to study in India and abroad. The maximum loan amount for studying in India is limited to Rs. 20 Lakhs.
What is a non-collateral education loan?
Non collateral education loan – As the name suggests the lenders do not take any collateral for an unsecured/ non collateral education loan but they have a set of requirements and give an education loan without collateral to only those who are deemed eligible for it. Eligibility criteria for an abroad education loan without collateral