{"id":10121,"date":"2025-02-17T17:17:01","date_gmt":"2025-02-17T11:47:01","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=10121"},"modified":"2025-02-17T17:17:03","modified_gmt":"2025-02-17T11:47:03","slug":"rbi-guidelines-on-collateral-free-education-loans","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/","title":{"rendered":"RBI Guidelines on Collateral Free Education Loans"},"content":{"rendered":"\n<p>The <strong>RBI guidelines on collateral-free education loans<\/strong> help students secure financial support without unnecessary hurdles. The Reserve Bank of India (RBI) ensures that banks follow fair practices, making education loans accessible to all. To regulate this, banks follow the <strong>Model Education Loan Scheme (MELS)<\/strong> set by the <strong>Indian Banks&#8217; Association (IBA)<\/strong>.<\/p>\n\n\n\n<p>If you plan to apply for an education loan, knowing the <strong>RBI guidelines on collateral-free education loans<\/strong> is essential. These rules define loan eligibility, collateral requirements, and student rights, ensuring a smooth loan approval process.<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-what-are-the-rbi-guidelines-on-collateral-free-education-loans\" data-level=\"2\">What are the RBI Guidelines on Collateral Free Education Loans?<\/a><\/li><li><a href=\"#h-latest-rbi-guidelines-on-unsecured-education-loans\" data-level=\"2\">Latest RBI Guidelines on Unsecured Education Loans<\/a><\/li><li><a href=\"#h-rbi-guidelines-for-interest-rate-on-unsecured-education-loan\" data-level=\"2\">RBI Guidelines for Interest Rate on Unsecured Education Loan<\/a><\/li><li><a href=\"#h-benefits-of-collateral-free-education-loans\" data-level=\"2\">Benefits of Collateral-Free Education Loans<\/a><\/li><li><a href=\"#h-limitations-of-collateral-free-education-loans\" data-level=\"2\">Limitations of Collateral-Free Education Loans<\/a><\/li><li><a href=\"#h-alternatives-to-collateral-free-education-loans\" data-level=\"2\">Alternatives to Collateral-Free Education Loans<\/a><\/li><li><a href=\"#h-faqs-on-rbi-guidelines-on-collateral-free-education-loans\" data-level=\"2\">FAQs on RBI Guidelines on Collateral Free Education Loans<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-the-rbi-guidelines-on-collateral-free-education-loans\"><span id=\"what-are-the-rbi-guidelines-on-collateral-free-education-loans\">What are the RBI Guidelines on Collateral Free Education Loans?<\/span><\/h2>\n\n\n\n<p>The Reserve Bank of India is the central bank of the country. It is a regulatory body that\u00a0is responsible for the regulation of the Indian banking system. All the RBI-regulated entities providing education loans to the students work as per the guidelines set by RBI. <\/p>\n\n\n\n<p>All the banks are required to follow the Model Education Loan Scheme formulated by the IBA (Indian Banks\u2019 Association). You must be informed while <a href=\"https:\/\/fly.finance\/blog\/education-loan\/how-to-apply-for-an-unsecured-education-loan\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>applying for unsecured education loans<\/strong><\/a>. Check more details below:<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>RBI Guidelines on Collateral-Free Education Loans<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>1. Education Loans Up to INR 4 Lakh<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No collateral or security is required.<\/li>\n\n\n\n<li>The loan can be availed without a guarantor.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>2. Education Loans Between INR 4 Lakh and INR 7.5 Lakh<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A third-party guarantor is mandatory.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>3. Education Loans Above INR 7.5 Lakh<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tangible collateral is required.<\/li>\n\n\n\n<li>The collateral can be immovable property, fixed deposits, or other eligible assets.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong><em>Also Read: Applying for an education loan to study abroad? Read this blog and know the <\/em><\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/rbi-regulations-on-credit-report\/\"><strong><em>latest guidelines issued by RBI on credit report<\/em><\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-latest-rbi-guidelines-on-unsecured-education-loans\"><span id=\"latest-rbi-guidelines-on-unsecured-education-loans\">Latest RBI Guidelines on Unsecured Education Loans<\/span><\/h2>\n\n\n\n<p>All the scheduled commercial banks regulated by RBI are directed to provide education loans as per the Model Education Loan Scheme formulated by the Indian Banks\u2019 Association. The IBA keep revising the MELS from time to time and the last revision was made in 2022. <\/p>\n\n\n\n<p>Hence, as of now, all the scheduled commercial banks are following the Model Education Loan Scheme 2022. Check the latest guidelines on unsecured loans by RBI as per the MELS 2022:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>No collateral or guarantor is required for loans up to INR 4 lakh<\/strong> for studies in India or abroad.<\/li>\n\n\n\n<li><strong>Banks cannot reject an education loan application<\/strong> based on the borrower\u2019s residence location.<\/li>\n\n\n\n<li><strong>Students can file a complaint<\/strong> if a bank denies a loan application due to location issues.<\/li>\n\n\n\n<li><strong>If the bank does not respond within one month<\/strong>, students can escalate the issue under the <a href=\"https:\/\/fly.finance\/blog\/education-loan\/rbi-ombudsman-scheme\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>RBI Ombudsman Scheme<\/strong><\/a>.<\/li>\n\n\n\n<li><strong>No margin is required<\/strong> for loans up to INR 4 lakh. For higher amounts, the margin is:<br>&#8211; 5% for studies in India<br>&#8211; 15% for studies abroad<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong><em>Also Read: Credit report showing DPD mark? Check out this blog and know what is <\/em><\/strong><a href=\"https:\/\/fly.finance\/blog\/student-budget\/days-past-due-in-cibil-report\/\"><strong><em>Dues Past Day in CIBIL Report<\/em><\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-rbi-guidelines-for-interest-rate-on-unsecured-education-loan\"><span id=\"rbi-guidelines-for-interest-rate-on-unsecured-education-loan\">RBI Guidelines for Interest Rate on Unsecured Education Loan<\/span><\/h2>\n\n\n\n<p>RBI has deregulated interest rates on education loans, allowing banks to determine rates internally. However, banks must comply with the following regulatory guidelines:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Interest rates should be based on <strong>the base rate and the spread.<\/strong><\/li>\n\n\n\n<li>Banks can offer <strong>fixed or floating interest rates.<\/strong><\/li>\n\n\n\n<li>Interest rates on floating loans must be linked to an internal benchmark rate.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-benefits-of-collateral-free-education-loans\"><span id=\"benefits-of-collateral-free-education-loans\">Benefits of Collateral-Free Education Loans<\/span><\/h2>\n\n\n\n<p>The RBI guidelines on collateral-free education loans make it easier for students to finance their education without the stress of pledging assets. Here are some key benefits:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>More accessible for students from low-income backgrounds<\/strong> \u2013 Students who lack assets for security can still access an education loan without collateral.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>No risk of losing personal assets<\/strong> \u2013 Since no collateral is required, students and their families do not have to pledge property or other valuables.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Faster loan approval process<\/strong> \u2013 Without the need for collateral evaluation, banks process and approve loans more quickly.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-limitations-of-collateral-free-education-loans\"><span id=\"limitations-of-collateral-free-education-loans\">Limitations of Collateral-Free Education Loans<\/span><\/h2>\n\n\n\n<p>While an <strong>education loan without collateral<\/strong> offers many benefits, it also comes with certain limitations:<\/p>\n\n\n\n<p><strong>Loan amount restrictions<\/strong> \u2013 Collateral-free loans usually have a maximum limit (typically INR 7.5 lakh), which may not cover all expenses for studying abroad.<\/p>\n\n\n\n<p><strong>Higher interest rates<\/strong> \u2013 Banks charge higher interest on unsecured loans due to the increased risk.<\/p>\n\n\n\n<p><strong>Stricter eligibility criteria<\/strong> \u2013 Banks may require a strong academic record, a reliable co-applicant, or a stable income source to approve the loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-alternatives-to-collateral-free-education-loans\"><span id=\"alternatives-to-collateral-free-education-loans\">Alternatives to Collateral-Free Education Loans<\/span><\/h2>\n\n\n\n<p>If you do not qualify for an <strong>education loan without collateral<\/strong>, here are some alternative financial options:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Income-share agreements<\/strong> \u2013 Some private institutions offer funding in exchange for a percentage of future earnings.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Government education loan schemes<\/strong> \u2013 Programs like the <strong>Vidya Lakshmi Portal<\/strong> offer student-friendly loans with government support.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Scholarships and grants<\/strong> \u2013 Many universities and government bodies provide scholarships that can reduce dependency on loans.<\/li>\n<\/ul>\n\n\n\n<p>Understanding RBI guidelines on education loans is crucial before applying for financial assistance. If you are applying for an unsecured education loan, make sure to check the latest MELS regulations. Always compare different banks, verify interest rates, and be aware of your rights in case of loan rejection.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs-on-rbi-guidelines-on-collateral-free-education-loans\"><span id=\"faqs-on-rbi-guidelines-on-collateral-free-education-loans\">FAQs on RBI Guidelines on Collateral Free Education Loans<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1707994636630\"><strong class=\"schema-faq-question\">What is the maximum loan amount for a collateral-free education loan under RBI guidelines?<\/strong> <p class=\"schema-faq-answer\">According to RBI guidelines, you can obtain a collateral-free education loan up to INR 4 lakhs for domestic studies and up to INR 7.5 lakhs for studies abroad, provided you have a guarantor.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1707994661182\"><strong class=\"schema-faq-question\">Is the MELS, 2022 applicable to all banks and financial institutions?<\/strong> <p class=\"schema-faq-answer\">No. As of now, the Model Education Loan Scheme, 2022 (MELS) is applicable only to the scheduled commercial banks regulated by the Reserve Bank of India. As the scheme is formulated by the Indian Banks\u2019 Association (IBA), it is currently not applicable to private banks, NBFCs and other financial institutions.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1707994670590\"><strong class=\"schema-faq-question\">How to raise a complaint against the bank if my education loan is rejected without any reason?<\/strong> <p class=\"schema-faq-answer\">If the bank is not approving your education loan despite fulfilling all the eligibility criteria, you must file a complaint on the bank\u2019s portal. If you do not receive any response from the bank within one month or the response is not satisfactory, you can file a complaint with RBI Ombudsman.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1707994689246\"><strong class=\"schema-faq-question\">What is the interest rate on education loans to study abroad?<\/strong> <p class=\"schema-faq-answer\">The interest rate on education loans to study abroad depends upon various factors such as loan amount, repayment period, net monthly income of applicant etc. Usually, the bank charges interest rates ranging from 8% to 16%.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1707994719597\"><strong class=\"schema-faq-question\">Can I get an INR 6 lakh education loan without collateral?<\/strong> <p class=\"schema-faq-answer\">Yes. Most of the public sector banks in India offer collateral-free education loans up to INR 7.5 lakhs. However, you must have a guarantor for you in order to get the loan approved as any amount above INR 4 lakhs to INR 7.5 lakhs will require a guarantor.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1739792782017\"><strong class=\"schema-faq-question\">Can I get a collateral-free education loan for a diploma course?<\/strong> <p class=\"schema-faq-answer\">Yes, as per RBI guidelines, you can get collateral-free education loans for diploma courses as long as the loan amount does not exceed INR 4 lakhs.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1739792811463\"><strong class=\"schema-faq-question\">Is there a minimum age requirement for collateral-free education loans?<\/strong> <p class=\"schema-faq-answer\">Yes, applicants must be at least 18 years old to qualify for collateral-free education loans as per RBI guidelines.<\/p> <\/div> <\/div>\n\n\n\n<p>To know more about the loan application process, the best <a href=\"https:\/\/fly.finance\/blog\/student-account\/\"><strong>bank accounts for students<\/strong><\/a>, forex and banking experience for global students or <a href=\"https:\/\/fly.finance\/blog\/money-transfer\/\"><strong>international money transfers<\/strong><\/a>, reach out to our experts at 1800572126 to help ease your study abroad experience.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background\"><tbody><tr><td><strong>Related Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-payback-time\/\"><strong>Education Loan Payback Time<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/scholarships\/pravasandhra-bharosa-bima-scheme\/\"><strong>Pravasandhra Bharosa Bima Scheme<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/minimum-family-income-requirements-for-education-loan\/\"><strong>Minimum Family Income Required for Education Loan<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Follow Us on Social Media <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-social-links is-layout-flex wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-instagram  wp-block-social-link\"><a href=\"https:\/\/instagram.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12,4.622c2.403,0,2.688,0.009,3.637,0.052c0.877,0.04,1.354,0.187,1.671,0.31c0.42,0.163,0.72,0.358,1.035,0.673 c0.315,0.315,0.51,0.615,0.673,1.035c0.123,0.317,0.27,0.794,0.31,1.671c0.043,0.949,0.052,1.234,0.052,3.637 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class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-facebook  wp-block-social-link\"><a href=\"https:\/\/www.facebook.com\/Flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12 2C6.5 2 2 6.5 2 12c0 5 3.7 9.1 8.4 9.9v-7H7.9V12h2.5V9.8c0-2.5 1.5-3.9 3.8-3.9 1.1 0 2.2.2 2.2.2v2.5h-1.3c-1.2 0-1.6.8-1.6 1.6V12h2.8l-.4 2.9h-2.3v7C18.3 21.1 22 17 22 12c0-5.5-4.5-10-10-10z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Facebook<\/span><\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The RBI guidelines on collateral-free education loans help students secure financial support without unnecessary hurdles. The Reserve Bank of India (RBI) ensures that banks follow fair practices, making education loans accessible to all. To regulate this, banks follow the Model Education Loan Scheme (MELS) set by the Indian Banks&#8217; Association (IBA). If you plan to &#8230; <a title=\"RBI Guidelines on Collateral Free Education Loans\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/\" aria-label=\"Read more about RBI Guidelines on Collateral Free Education Loans\">Read more<\/a><\/p>\n","protected":false},"author":24,"featured_media":17680,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-10121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>RBI Guidelines on Collateral Free Education Loans<\/title>\n<meta name=\"description\" content=\"This blog includes the details about the topic &#039;RBI Guidelines on Collateral-Free Education Loans&#039;. To know more read the blog.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI Guidelines on Collateral Free Education Loans\" \/>\n<meta property=\"og:description\" content=\"This blog includes the details about the topic &#039;RBI Guidelines on Collateral-Free Education Loans&#039;. 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With expertise in crafting informative blogs on study abroad and finance, Shekhar helps readers navigate the complexities of education and financial planning. Most of his writings blend the practicality of finance and the beauty of language, making a meaningful impact in both spheres. Beyond his professional pursuits, he finds solace in the writing Shayari.","sameAs":["https:\/\/in.linkedin.com\/in\/thahankmoody","https:\/\/www.tumblr.com\/blog\/dhanlabh"],"url":"https:\/\/fly.finance\/blog\/author\/shekhar\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1707994636630","position":1,"url":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1707994636630","name":"What is the maximum loan amount for a collateral-free education loan under RBI guidelines?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"According to RBI guidelines, you can obtain a collateral-free education loan up to INR 4 lakhs for domestic studies and up to INR 7.5 lakhs for studies abroad, provided you have a guarantor.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1707994661182","position":2,"url":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1707994661182","name":"Is the MELS, 2022 applicable to all banks and financial institutions?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"No. As of now, the Model Education Loan Scheme, 2022 (MELS) is applicable only to the scheduled commercial banks regulated by the Reserve Bank of India. As the scheme is formulated by the Indian Banks\u2019 Association (IBA), it is currently not applicable to private banks, NBFCs and other financial institutions.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1707994670590","position":3,"url":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1707994670590","name":"How to raise a complaint against the bank if my education loan is rejected without any reason?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"If the bank is not approving your education loan despite fulfilling all the eligibility criteria, you must file a complaint on the bank\u2019s portal. If you do not receive any response from the bank within one month or the response is not satisfactory, you can file a complaint with RBI Ombudsman.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1707994689246","position":4,"url":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1707994689246","name":"What is the interest rate on education loans to study abroad?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The interest rate on education loans to study abroad depends upon various factors such as loan amount, repayment period, net monthly income of applicant etc. Usually, the bank charges interest rates ranging from 8% to 16%.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1707994719597","position":5,"url":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1707994719597","name":"Can I get an INR 6 lakh education loan without collateral?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes. Most of the public sector banks in India offer collateral-free education loans up to INR 7.5 lakhs. However, you must have a guarantor for you in order to get the loan approved as any amount above INR 4 lakhs to INR 7.5 lakhs will require a guarantor.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1739792782017","position":6,"url":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1739792782017","name":"Can I get a collateral-free education loan for a diploma course?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, as per RBI guidelines, you can get collateral-free education loans for diploma courses as long as the loan amount does not exceed INR 4 lakhs.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1739792811463","position":7,"url":"https:\/\/fly.finance\/blog\/education-loan\/rbi-guidelines-on-collateral-free-education-loans\/#faq-question-1739792811463","name":"Is there a minimum age requirement for collateral-free education loans?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, applicants must be at least 18 years old to qualify for collateral-free education loans as per RBI guidelines.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=10121"}],"version-history":[{"count":5,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10121\/revisions"}],"predecessor-version":[{"id":17681,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10121\/revisions\/17681"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/17680"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=10121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=10121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=10121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}