Education loan from India

[KeerthanaSubash]

Hello All,

I am from India and I got Masters admission at Carleton University for Fall 2020. I am in the process of securing a loan for my Masters.
I do not have collateral and so I am finding it difficult to secure the loan.

Does anyone know the procedure to get non-collateral loans of max 30L from banks.
Please help.

Thanks,
Keerthana Muthu Subash

 

[Simmidas]

Hello All,

I am from India and I got Masters admission at Carleton University for Fall 2020. I am in the process of securing a loan for my Masters.
I do not have collateral and so I am finding it difficult to secure the loan.

Does anyone know the procedure to get non-collateral loans of max 30L from banks.
Please help.

Thanks,
Keerthana Muthu Subash

Hello,
This response is based on my personal experience with education loan so far.
1. Non-secured loan amount is dependent on university profile. When I approach ICICI, I got to know that If I get an admit from league universities like Toronto, UBC, UoM, UVic and so on I can get loan collateral free loan upto 40L. If the university is second to league for e.g. Ryerson, Carleton and so on... The amount will be only 7.5 Lakh.
2. You can try approaching intermediaries for help. They will not charge anything from you. For e.g. WemakeScholars, Yocket, Gyandhan . These intermediaries have ties with banks and NBAs. They can help in putting up your application.
3. There are lots of NBAs who give student loans you can contact them. Their rate of interest is on a higher side but you may get collateral free loan.
Good Luck