Top List of Education Loan Providers for Abroad Studies in Chandigarh. Get a Education loan with a low interest rate. Also, get an instant overseas studies loan, study abroad loan, ed loan, and more. Find the best Education Loan Abroad Studies service providers near your location. as on Oct 11, 2024

Loansewa.com

Sector 17, Chandigarh, 160017

+09883030143

Loans Education Loans Education Loan for Abroad Studies

+9 more

Response Time: Within 15 MinsSulekha score: 6.1

Introducing Loansewa.com - your one-stop destination for all your loan needs. We are a leading loan provider in Sector 17, offering a wide range of loan categories including home loans, education loans, mortgage loans, personal loans, and more. Our team of experts will help you secure the best loan option based on your requirements. With years of experience in the industry and a team of dedicated employees, we strive to provide a seamless and has ... less

Chat

Enquire Now

Ishan Mahajan & Associates

Jassur, Kangra, 176201

( Also serves in Chandigarh )

3.0/5 Based on 2 Reviews

+08035428593

Loans Business Loans Car Loans

+24 more

Response Time: Within 15 MinsSulekha score: 4.1

Ishan Mahajan & Associates, based in Jassur, Kangra, offers a wide range of financial and legal services including chartered accountancy, bookkeeping, company registration, and GST consultation. They also specialize in digital signature services, physical verification of fixed assets, and auditing for both businesses and individuals. With over 12 years of experience, they serve clients not only in Kangra but also in nearby cities such as Chandigarh, Ambala, and Baddi. Located near UCO Bank on Talwara Road, the firm is known for providing expert services at competitive rates, ensuring timely and accurate solutions for their clients' financial needs

Available Loan Types:

Offering 50+ different types of loans

Loan Amount Range:

From less than ₹1 Lakhs to ₹1 Crore and above
Depending on the type of loan

Ishan from Kangra

"Excellent service at minimal cost"

Chat

Enquire Now

Invest4edu Private Limited

Vile Parle East, Mumbai, 400047

( Also serves in Chandigarh )

+08069874315

Loans Education Loans Education Loan for Abroad Studies

Response Time: Within 15 MinsSulekha score: 3.5

Invest4edu Private Limited, located in Vile Parle East, Mumbai, is a specialist in education loans, helping students achieve their academic goals both in India and abroad. They offer flexible loan options ranging from ?6 to ?20 lakhs, with a focus on providing quick loan approvals, often within two weeks. Their services are tailored to meet the specific financial needs of students, providing customized loan solutions with competitive interest rates. With a dedicated team of professionals, they ensure a smooth and hassle-free loan process, guiding clients through every step.

Available Loan Types:

Offering 2 different types of loans

Loan Amount Range:

From ₹5 Lakhs to ₹20 Lakhs and above
Depending on the type of loan

Chat

Enquire Now

Lending Pro

Dukhniwaran Sahib, Patiala, 147001

( Also serves in Chandigarh )

5.0/5 Based on 1 Reviews

Loans Business Loans Education Loans

+11 more

Sulekha score: 7.5Working hours: 9:30 AM to 5 PM

less

narendra meena from Patiala

"Fast service "

Enquire Now

Why Choose Sulekha?

Sulekha is your go-to platform for finding a wide variety of loan providers catering to diverse financial needs such as personal loans, car loans, home loans, vehicle loans, mortgage loans, education loans, and more. With Sulekha, you gain access to a comprehensive network of reputable lenders, ensuring you find the perfect match for your specific requirements. The platform simplifies your search process, saving you time and effort by connecting you with trusted professionals who can offer tailored loan solutions. Choose Sulekha for a seamless and efficient loan-seeking experience.

1. When to Consider Taking Out an Education Loan for Abroad?

High-Quality Education and Better Career Prospects: If you’re admitted to a prestigious institution with a strong reputation or specialized programs unavailable in your home country, the investment can lead to better job opportunities and higher earning potential.
Limited Personal Savings: When you lack sufficient savings or family support to cover tuition and living expenses, an education loan can help bridge the financial gap.
Favorable Loan Terms: Consider a loan when it offers low-interest rates, favorable repayment terms, and additional benefits like moratorium periods during your study period or if there are government subsidies.
Return on Investment (ROI): If the projected post-graduation salary significantly exceeds the loan cost, making it a worthwhile investment for your career advancement, it can justify taking out a loan.
Scholarships and Financial Aid: When you have secured partial funding through scholarships or grants but need additional funds to cover the remaining costs, combining loans with these aids can reduce the total amount borrowed.
Financial Planning: Take a loan if you have a clear and feasible repayment plan, considering your potential earnings and other financial commitments post-graduation and if your family can support or co-sign the loan.
Building Credit History: Taking and responsibly repaying an education loan can help build your credit history, beneficial for future financial needs, especially if alternative funding is insufficient.
Urgency and Timing: When admitted to a program with strict deadlines for securing funding and starting studies, an education loan can ensure you meet these deadlines without financial strain.
Tax Benefits: In some countries, interest paid on education loans is eligible for tax deductions, easing the financial burden and making the loan more manageable.

2. Eligibility Criteria for Taking an Education Loan for Abroad?

Academic Qualifications: The applicant must have secured admission to a recognized foreign university, confirmed by an offer letter. A strong academic record is required, often with a minimum percentage or GPA. The eligible courses typically include graduate, postgraduate, or doctoral programs, and sometimes vocational or technical courses with good employment prospects.
Age Criteria: Applicants are generally required to be between the ages of 18 and 35. However, the age limits can slightly vary depending on the lender.
Co-applicant Requirement: A co-applicant, usually a parent, spouse, sibling, or guardian, is necessary. The co-applicant's income and credit history are considered for loan approval, requiring proof of income like salary slips, bank statements, and IT returns.
Creditworthiness: The co-applicant should have a good credit score, typically above 700, indicating financial reliability. They should also have no history of loan defaults.
Loan Amount and Collateral: The loan amount varies based on the course, institution, and country, often covering 80-90% of total expenses. For loans above a certain limit, usually INR 7.5 lakh in India, collateral such as property, fixed deposits, or life insurance policies may be required.
Financial Background: Banks assess the repayment capacity of both the applicant and co-applicant, considering their current income, future earning potential post-study, and other liabilities.
Documentation: Necessary documents include the admission letter, cost estimate of the course, KYC documents for both applicant and co-applicant, previous educational certificates, and financial documents like income proof and bank statements. Collateral documents are needed if applicable.
Country-specific Criteria: Some banks have specific criteria based on the country of study, considering factors like economic stability, visa regulations, and the reputation of educational institutions.

3. What are the Benefits and Advantages of an Education Loan for Abroad?

Access to Quality Education: Education loans enable students to access top-tier institutions and programs globally, enhancing their academic and career prospects. They also provide the flexibility to choose from a wide range of courses and specializations that may not be available in their home country.
Financial Independence: These loans allow students to fund their education independently, reducing the financial strain on their families. They cover comprehensive expenses such as tuition fees, living costs, travel, and study materials, ensuring financial support throughout the study period.
Competitive Interest Rates and Flexible Repayment Terms: Many financial institutions offer education loans with competitive interest rates, making them a cost-effective funding option. Additionally, lenders provide flexible repayment schedules, allowing students to start repaying the loan after completing their education and securing employment.
Tax Benefits: In many countries, the interest paid on an education loan is eligible for tax deductions, reducing the borrower's overall tax liability. This benefit makes education loans more financially attractive by providing significant tax relief.
Credit Score Improvement: Timely repayment of education loans can help students build a strong credit history, which is beneficial for future financial transactions such as applying for credit cards, home loans, or car loans. This positive credit history can enhance financial opportunities in the future.
Focused Learning Experience: With financial aspects taken care of, students can concentrate better on their studies and extracurricular activities, leading to a more enriching educational experience. Reduced financial stress contributes to better academic performance and personal development.
Enhanced Career Opportunities: Studying abroad offers international exposure, cultural exchange, and networking opportunities, significantly enhancing career prospects. Graduates from reputed international institutions often have better job opportunities and higher starting salaries, facilitating easier loan repayment.
Specialized Loan Products: Many lenders offer customized education loan products tailored to the needs of students studying abroad. These may include options for co-borrowers, moratorium periods, and grace periods, providing additional financial flexibility and support.

4. Important Factors to Consider When Taking an Education Loan for Abroad?

Interest Rates: Understand whether the interest rate is fixed or variable. Fixed rates remain constant, providing stability, while variable rates can change over time, potentially affecting your monthly payments. Compare rates from different lenders to find the most competitive option.
Repayment Terms: Check the repayment period and choose one that balances manageable monthly payments with the total interest paid over time. Identify if there is a grace period after graduation before you start repaying the loan, allowing you time to secure a job.
Loan Amount: Ensure the loan covers all necessary expenses, including tuition, accommodation, travel, and other related costs. Be aware of the maximum loan amount you can borrow, which may vary by lender, and ensure it meets your financial needs without being excessive.
Eligibility Criteria: Know your credit score and how it impacts your eligibility and interest rates. Determine if a cosigner is required and understand their financial responsibility, as this can affect your ability to secure the loan and the terms offered.
Repayment Flexibility: Check if you can make early repayments without penalties, which can help reduce the total interest paid. Some loans offer deferred payments while you’re in school, allowing you to focus on your studies without immediate financial pressure.
Lender Reputation: Research the lender’s reputation, including reviews and ratings, to ensure they provide good customer service and support. Verify that the lender is accredited and recognized in the financial market, ensuring reliability and trustworthiness.
Loan Disbursement: Understand how the loan funds are disbursed. Some lenders pay directly to the educational institution, ensuring timely payment of tuition fees, while others might disburse the amount to your account, offering more flexibility in managing funds.
Currency Exchange Rates: Be aware of how currency exchange rate fluctuations can affect the loan amount and repayment if studying in a country with a different currency. This can impact your overall cost and monthly payments, so consider potential changes over time.
Tax Benefits: Investigate if you can avail any tax benefits on the interest paid on the education loan in your home country. These deductions and exemptions can reduce your overall financial burden and provide additional savings.
Financial Planning: Create a detailed budget to understand your financial needs and ensure the loan amount is sufficient but not excessive. Consider your potential future earnings to ensure you can manage loan repayments with your expected salary after graduation.
Loan Insurance: Some lenders offer insurance on education loans that cover the borrower in case of unforeseen circumstances like death or disability. Factor in the cost of insurance into the overall loan expense and consider its benefits for peace of mind.
Exchange Rate Fluctuation: Be aware that fluctuations in exchange rates can affect the value of the loan amount and repayments if dealing with different currencies. This can have a significant impact on your financial planning and overall loan costs.

5. Education Loan for Abroad Interest Rates?

Bank	Interest Rate	Loan Amount	Repayment Tenure
State Bank of India (SBI)	9.55% - 11.15% p.a.	Up to INR 1.5 Crores	Up to 15 years
HDFC Bank	9.00% - 13.86% p.a.	Up to INR 20 Lakhs	Up to 15 years
ICICI Bank	10.50% - 12.00% p.a.	Up to INR 1 Crore	Up to 10 years
Axis Bank	13.70% p.a.	Up to INR 40 Lakhs	Up to 15 years
Punjab National Bank (PNB)	8.90% - 9.55% p.a.	Up to INR 1 Crore	Up to 15 years
Bank of Baroda	9.15% - 11.15% p.a.	Up to INR 80 Lakhs	Up to 15 years
Canara Bank	9.85% - 10.35% p.a.	Up to INR 40 Lakhs	Up to 15 years
IDBI Bank	9.45% - 10.45% p.a.	Up to INR 20 Lakhs	Up to 10 years
Kotak Mahindra Bank	11.50% - 16.50% p.a.	Up to INR 20 Lakhs	Up to 15 years
Union Bank of India	9.30% - 10.80% p.a.	Up to INR 20 Lakhs	Up to 15 years

Please note: Interest rates and fees can vary based on the loan amount, tenure, credit profile of the borrower, and specific bank policies. It is advisable to check with the respective bank for the most accurate and updated information.

Was this article is helpful?

Most Common Questions About Education Loans for Abroad

1. Who are the best Education Loan for Abroad providers in Chandigarh?

Loansewa.com
Ishan Mahajan & Associates
Invest4edu Private Limited
Lending Pro

2. What documents are required for an Education Loan for Abroad?

To apply for an education loan for studying abroad, you typically need your admission letter, academic records, proof of identity and address, passport, income proof of co-applicant, bank statements, and a detailed cost breakdown of your education expenses.

3. What are the eligibility criteria for an Education Loan for Abroad?

Eligibility criteria usually include admission to a recognized university abroad, a good academic record, a co-applicant (parent or guardian) with a stable income, and meeting the minimum age requirement, which varies by lender.

4. How do I apply for an Education Loan for Abroad online?

To apply online, you can apply online with the Sulekha form above with your loan requirements, and connect with the best loan providers that suit your needs. Also you can visit the bank's website, fill out the application form, upload the required documents, and submit the form. After initial assessment, you might need to visit the branch for final verification and approval.

5. How can I get an instant Education Loan for Abroad?

Instant education loans for abroad can be obtained through pre-approved loan offers from your bank, typically for existing customers with a good credit history. Applying through online portals of banks offering instant loan approvals can also expedite the process.

6. What is the percentage rate for an Education Loan for Abroad?

The interest rate for education loans for studying abroad generally ranges from 9% to 14% per annum, depending on the lender, loan amount, repayment tenure, and the applicant's profile.

7. Can I get an Education Loan for Abroad with a low CIBIL score?

While a low CIBIL score may reduce your chances, some lenders might still offer loans at higher interest rates or with stricter terms. Including a co-applicant with a good credit score can improve your chances.

8. What is the processing fee for an Education Loan for Abroad?

Processing fees for education loans for studying abroad typically range from 0.5% to 2% of the loan amount, depending on the lender. Some banks may offer waivers on these fees as part of promotional offers.

9. Can I get an Education Loan for Abroad with a bad credit score?

Getting an education loan with a bad credit score is challenging but not impossible. Lenders may consider the application if there is a creditworthy co-applicant, collateral security, or higher interest rates to mitigate the risk.

Tips & Solutions for Applying Loan View All Blogs

Home Buying Trends 2021 by Jenson

For most people, the primary purpose of buying real estate as an investment is to make a profit. However, there can be...

Important Things That NRIs Should Know About Home Loan In India by Pavithra S

If you are an NRI who wish to buy a residential property in India using a home loan, then it is essential for you to be aware...

Home Loan Agreement- Important clauses to know! by Pavithra S

Buying a house is still considered a big achievement in a person’s life as it entails several processes before one could heave...

How To Avoid Rejection Of Your Personal Loan Application Devi Bhuvanesh

Are you in urgent need of money for personal reasons? To meet the immediate financial requirement, one can apply for a personal loan...

Read all Blogs

4.2

Based on 5 Reviews

Sangeeta Mohali

24 Sep, 2019

Firstly I would like thanks to The World Institute team to help me out to clear my CTET exam in my first attempt n support n boost me in such a wonderful way n the Superb Counselling they provide me to finalize my career. Thanks again for making my career.

Om Parkash Andheri East

03 May, 2017

Looked out for the Educational loan,I have got personal loan from Credila Financial Services Pvt. Ltd..,they have been provided the loan amount for me…I have paying some nominal amount as a interest..the service is very good..the staff member answer for all the queries..we are very satisfied…

Top Education Loan Providers for Abroad Studies in Chandigarh

Where do you want to study?

Find the Top Education Loan for Abroad Providers from Sulekha in Chandigarh

Top List of Education Loan Providers for Abroad Studies in Chandigarh. Get a Education loan with a low interest rate. Also, get an instant overseas studies loan, study abroad loan, ed loan, and more. Find the best Education Loan Abroad Studies service providers near your location. as on Oct 11, 2024

Loansewa.com

Ishan Mahajan & Associates

Invest4edu Private Limited

Lending Pro

Latest User Reviews for Education Loan for Abroad Studies in Chandigarh

Why Choose Sulekha?

1. When to Consider Taking Out an Education Loan for Abroad?

2. Eligibility Criteria for Taking an Education Loan for Abroad?

3. What are the Benefits and Advantages of an Education Loan for Abroad?

4. Important Factors to Consider When Taking an Education Loan for Abroad?

5. Education Loan for Abroad Interest Rates?

Most Common Questions About Education Loans for Abroad

1. Who are the best Education Loan for Abroad providers in Chandigarh?

2. What documents are required for an Education Loan for Abroad?

3. What are the eligibility criteria for an Education Loan for Abroad?

4. How do I apply for an Education Loan for Abroad online?

5. How can I get an instant Education Loan for Abroad?

6. What is the percentage rate for an Education Loan for Abroad?

7. Can I get an Education Loan for Abroad with a low CIBIL score?

8. What is the processing fee for an Education Loan for Abroad?

9. Can I get an Education Loan for Abroad with a bad credit score?

Tips & Solutions for Applying Loan View All Blogs

Home Buying Trends 2021

Important Things That NRIs Should Know About Home Loan In India

Home Loan Agreement- Important clauses to know!

How To Avoid Rejection Of Your Personal Loan Application