SBI Fixed Interest Rate Abroad Education Loan
“I am sorry. The rate of interest has been increased, so you have to pay a higher EMI”, the disinterested branch manager of the NBFC told a student who had taken an education loan in Fall 2017. This was the third time in the last two years that the NBFCs had increased the rate of interest on education loans, totaling up to a hike of 3% (12% became 15% in a matter of 2 years). The above is a... Read more
Disbursement Process of SBI Education Loan
When the 2018 financial year came to a close, the portfolio size of study loan disbursals touched INR 82,600 Crore, climbing 9.25% in twelve months! The average loan amount disbursement to a student went from INR 6.8 Lakh to INR 9.6 Lakh at the same time. These figures have risen even further this year. But is the education loan disbursement process as easy as it appears from these... Read more
A-Z Guide to Student Loans for Studying Abroad
Planning to go abroad for higher studies but concerned about the sky-high tuition fees? Well, student loans for studying abroad will be the best option for you in this case. Keep reading to know the different student loan options available to you and which one is a better way to fund your higher studies abroad than using your personal funds. Studies say that the cost of education is rising... Read more
Education Loan for Foreign Studies: A Complete Guide for Students
Across the world, over 5 million students preferred a foreign country over their home nation to study further in 2016. In India, more than 3,00,000 students picked foreign studies, making it the biggest source of international students right after China. Which Foreign Country Indian Students Picked the Most? Check Your Education Loan Eligibility Apply Here Why such an... Read more
Education Loan Process - Check These 9 Points
How many Indian students got an education loan in 2015? A whopping 3.34 Lakhs. How many students secured a study loan in 2019? A measly 2.5 Lakhs. What does that say to an Indian student hoping to apply for an education loan abroad? The number of applications for student loans being accepted is abysmally low and constantly decreasing. Yet, not all hope is lost. The total loan amount... Read more
How to Save INR 2 Lakhs (or More) With the Right Education Loan?
What if we told you that the rate of interest on an education loan might change post-sanction, would you be surprised? 8 out of 10 loan applicants would say an unequivocal yes. Few, if any, are aware of the complex formula that defines the interest rate of a student loan. Most Indian bank and NBFC loans come with a floating interest rate. What’s a Floating Rate? We explain it here. In... Read more
All you need to Know About Education Loan with Collateral
In the past, if a student planned to go abroad for studies, then they definitely needed to have a fat bank balance to support their education abroad. However, things changed in 1995 when SBI started providing education loan for studying abroad. From 2001, the Indian banking sector started giving out education loans, and since then, Lakhs of education loans in India for study abroad were taken... Read more
Educational Loan Options for MS in New Zealand
For such a small nation, New Zealand is home to more than 106,000 international students. What’s more surprising is that almost one in every five foreign students on the island is Indian. Barring China, India accounts for the maximum number of overseas students in the country. With so many Indian students preferring NZ as their study abroad destination, we thought to give them a leg-up. Within... Read more
Educational Loan Options for MBA in Canada
According to CBIE, 2015 witnessed a whopping 92% rise in the number of international students since 2008 - the number totaling 353,570. And, the number has continued to grow significantly over the past five years. For the thousands of Indian students who are desirous of studying abroad in popular countries such as the U.S., Canada, etc., the tuition fee is a major deciding factor. If you too... Read more
Educational Loan Options for MBA in Ireland
In recent years, Ireland has become a popular study abroad destination for Indian students. In the year 2017, nearly 3,000 Indian students were in Ireland to study undergraduate, Masters, and PhD programs. This number was just 2,000 in the year 2015. Therefore, we can clearly see that the number of Indian students who headed to Ireland in 2017 increased by 50%, and this upward trend is here to... Read more