Secured Education Loan for Abroad Studies

If you are planning to pursue your study abroad and are unsure about how to manage your finances, then a secured education loan is the perfect way out.

What is Secured Education Loan for Abroad Studies?

Secured Education Loan is a type of student loan for international/foreign education, where collateral is pledged, such as property, fixed deposits, or government bonds, to secure the loan amount. These are often used by students moving abroad for higher studies and offered by several public and private banks in India.

Below are the common types of acceptable collateral:

• Residential Property
• Commercial Property
• Fixed Deposits (FD)
• Life Insurance Policies
• Government Bonds

This type of education loan is ideal for students who have an asset to pledge and want access to higher loan amounts with a lower rate of interest.

Read More: Top Mistakes to Avoid When Taking Education Loan for Abroad Studies

Why Choose Secured Education Loan for Abroad Studies?

Choosing a secure student loan for studying abroad provides multiple long-term advantages:

• Higher Loan Amount: You can secure up to 1.5 cr depending on collateral’s value and your profile.
• Lower Interest Rates: As this type of loan is backed by a security, the rate of interest is comparatively lower than unsecured education loans.
• Better Chances of Approval: Pledging collateral boosts the possibility of approval even with average academic or financial profiles.

Eligibility Criteria

• Admission to a recognized university abroad
• Stable income of Co-applicant
• Valid collateral to pledge

Key Documents Required

1. KYC of applicant and Co-applicant
2. Offer letter from the university
3. Academic Records
4. Collateral property documents
5. Income proof of Co-applicant
6. Visa Copy (Post Sanction)

See Also: Why CIBIL Score Matters for Your Education Loan?

How to Apply for Secure Education Loan?

Below is the step-by-step process to apply for education loan:

• Eligibility Check: Confirm your admission to the university and Collateral.
• Compare Banks: Take a thorough look into rates of interest, repayment plans, and other necessary terms and conditions.
• Prepare Required Documents: Keep the academic, financial, property, and KYC documents handy.
• Submit Application: Make sure to submit the application with the help of dedicated experts.
• Bank Verification: Banks validate the collateral provided and income proof.
• Loan Sanction and Disbursement: Once the education loan is approved, funds are released as per your academic requirement.

Apply Easily Through Study Abroad Loans

• Compare the best options available to suit your financial capacity
• Get help with documentation and eligibility check
• Regular updates from banks on your application status
• Negotiated Bank processing fee.
• Easy approval without any delays
• End to End expert guidance every step of the way

You may like: Education Loan for Studies Abroad

Conclusion

Begin your international journey without any financial roadblocks.

At Study Abroad Loans, we’ve assisted thousands of aspiring students in securing student loans to study in their dream country.

Talk to our education loan experts today!

Reach out to SIEC for Application inquiries and assistance.

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