SA_Scholarships & Loans

Private banks and private lenders like Non-Banking Finance Companies (NBFCs) do cover the full cost of studying abroad. However, public banks may ask the students to cover 10-15% of the cost through self-financing the rest would be taken care of with the education loan. 

Students can avail of a loan of up to INR 4 lacs without collateral. For loans, up to INR 7.5 lacs, parents or guardians are made joint borrowers and a third party guarantee is obtained. For a loan exceeding INR 7.5 lacs property or any other asset is required as collateral.

Usually government banks are considered to be the best for borrowing overseas education loans but if your credit report is good then you can try private banks also. Popular banks providing education loans to students wanting to study abroad include HDFC, State Bank of India (SBI), Axis Bank, ICICI Bank, Punjab National Bank and the Bank of Baroda to name a few. 

Generally, banks and NBFCs prefer to give loans for undergraduate and postgraduate courses. Also, the majority of banks prefer to give education loans abroad for pursuing job oriented and professional courses. Note that, if the university you are applying is reputated then you will face less issue while applying for loan.

As such, there is no limit set by the banks for offering education loans to students wanting to study abroad. It depends from bank to bank. The majority of the banks offer loans of up to INR 20-30 lakhs. Also, if the loan amount is more than INR 20 Lacs then the interest rate also increases.

Yes, a 12th-pass student can get a study loan from a bank or NBFC to study abroad. The only condition is fulfilling the eligibility criteria decided by the banks for offering loans. It can vary for different banks and financial institutions. We have mentioned some general eligibility below:Secure admission to a recognised foreign university or institution.Have a co-applicant.Meet the minimum academic requirements.Must have all required documents (Academic and personal).

Here is the list of required documents for the education loan application. It can vary slightly depending on the bank or lender you choose:Filled application formKYC Documents (Know Your Customer) such as ID proof, residence proof, and moreAcademic Transcripts and Mark SheetsCo-applicant/Guarantor Documents such as ID proof, income proof and bank statement.

Here are the list of eligibility criteria for getting education loans in India.Indian Nationality: You must be a citizen of India.Age: The minimum and maximum age limits can vary depending on the bank, but typically range between 18 and 35 years.Educational Background: Some banks might offer loans for specific programs or streams.Admission Confirmation: You'll need to provide proof that you have got  admission in a university.Apart from this, there are some other criteria that you need to fulfill. You can ask banks for more details.

Yes, one can absolutely get a 100% education loan to study in Spain from private banks and Non-Banking Finance Companies (NBFCs). However, other banks may require students to pay some amount of the costs included in studying abroad by self-financing. 

Yes, you can easily get an education loan to study in Spain. To be eligible to aply for an education loan in Spain, the applicant must be a citizen of India and enrolled with a Spanish higher education institute.