{"id":16335,"date":"2024-12-04T12:44:27","date_gmt":"2024-12-04T07:14:27","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=16335"},"modified":"2024-12-04T12:44:29","modified_gmt":"2024-12-04T07:14:29","slug":"which-bank-gives-education-loan-without-collateral-for-abroad","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/question-answer\/which-bank-gives-education-loan-without-collateral-for-abroad\/","title":{"rendered":"Which Bank Gives Education Loan Without Collateral For Abroad?"},"content":{"rendered":"\n<p>Studying abroad is a dream for many Indian students. However, financing education overseas can be a major hurdle. Since every student cannot afford collateral so it is important to know which bank gives education loans without collateral for abroad. Several banks in India offer <a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loans-without-collateral-and-co-signer\/\"><strong>education loans without collateral<\/strong><\/a> for studying abroad, making it easier to pursue higher education without pledging assets. Let\u2019s understand all the details about the top banks, their loan features, eligibility criteria, and tips for securing a collateral-free education loan.<\/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-top-banks-offering-education-loans-without-collateral-for-abroad-studies\" data-level=\"2\">Top Banks Offering Education Loans Without Collateral for Abroad Studies<\/a><ul><li><a href=\"#h-state-bank-of-india-sbi-global-ed-vantage-scheme\" data-level=\"3\">State Bank of India (SBI) Global Ed-Vantage Scheme<\/a><\/li><li><a href=\"#h-hdfc-credila-education-loan\" data-level=\"3\">HDFC Credila Education Loan<\/a><\/li><li><a href=\"#h-icici-bank-education-loan\" data-level=\"3\">ICICI Bank Education Loan<\/a><\/li><li><a href=\"#h-bank-of-baroda-education-loan-scheme\" data-level=\"3\">Bank of Baroda Education Loan Scheme<\/a><\/li><li><a href=\"#h-axis-bank-education-loan\" data-level=\"3\">Axis Bank Education Loan<\/a><\/li><\/ul><\/li><li><a href=\"#h-what-is-a-collateral-free-education-loan\" data-level=\"2\">What is a Collateral-Free Education Loan?<\/a><\/li><li><a href=\"#h-eligibility-criteria-for-collateral-free-loans\" data-level=\"2\">Eligibility Criteria for Collateral-Free Loans<\/a><\/li><li><a href=\"#h-faqs\" data-level=\"2\">FAQs<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-top-banks-offering-education-loans-without-collateral-for-abroad-studies\"><span id=\"top-banks-offering-education-loans-without-collateral-for-abroad-studies\">Top Banks Offering Education Loans Without Collateral for Abroad Studies<\/span><\/h2>\n\n\n\n<p>Several leading banks in India offer education loans without collateral to help students finance their studies abroad. Some of the top options include <strong>SBI\u2019s Global Ed-Vantage Scheme<\/strong>, which provides up to INR 7.5 lakhs without collateral for students. You can get collateral-free loans of up to INR 1 crore from ICICI Bank subject to terms and conditions. Some other major lenders are <strong>HDFC Credila education loan<\/strong>, Union Bank of India etc. Check the features of loans from different banks and financial institutions below:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-state-bank-of-india-sbi-global-ed-vantage-scheme\"><span id=\"state-bank-of-india-sbi-global-ed-vantage-scheme\">State Bank of India (SBI) Global Ed-Vantage Scheme<\/span><\/h3>\n\n\n\n<p>The <a href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-global-ed-vantage-education-loan\/\"><strong>State Bank of India (SBI) Global Ed-Vantage Scheme<\/strong><\/a> is a specialised education loan designed for Indian students pursuing higher studies abroad. It offers loans up to INR 7.5 lakhs without collateral for students admitted to reputed foreign universities. It provides competitive interest rates starting, a moratorium period and flexible repayment options. Check the major features of the SBI Global Ed-vantage education loan below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Loan Amount: Up to INR 7.5 lakhs without collateral<\/li>\n\n\n\n<li>Interest Rate: Competitive interest rates starting from 11.15% (floating rate of interest subject to change every quarter<\/li>\n\n\n\n<li>Eligibility: Students admitted to top-ranked foreign universities.<\/li>\n\n\n\n<li>Moratorium Period: Course duration plus 1 year or 6 months after getting a job.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Check out this blog to know the details of <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/what-happens-to-the-education-loan-if-the-borrower-dies\/\"><strong>what happens to education loan if the borrower dies<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-hdfc-credila-education-loan\"><span id=\"hdfc-credila-education-loan\">HDFC Credila Education Loan<\/span><\/h3>\n\n\n\n<p>The <a href=\"https:\/\/fly.finance\/blog\/education-loan\/hdfc-credila-education-loan-to-study-abroad\/\"><strong>HDFC Credila Education Loan<\/strong><\/a> is a popular choice for Indian students seeking financial support to study abroad without collateral. HDFC Credila is known for its flexibility, it offers customised loan amounts to individual requirements and doesn\u2019t mandate security for students admitted to reputed institutions. Check some of the major features of the HDFC Credila education loan below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Loan Amount: Collateral-free loans of up to INR 80 lakh<\/li>\n\n\n\n<li>Key Feature: No collateral is required for reputed institutions<\/li>\n\n\n\n<li>Special Benefit: Pre-approved loans before admission<\/li>\n\n\n\n<li>Interest rate: Competitive interest rate starting from 9.5%<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-icici-bank-education-loan\"><span id=\"icici-bank-education-loan\">ICICI Bank Education Loan<\/span><\/h3>\n\n\n\n<p>The <a href=\"https:\/\/fly.finance\/blog\/education-loan\/icici-bank-education-loan\/\"><strong>ICICI Bank Education Loan<\/strong><\/a> provides a seamless funding solution for Indian students aspiring to study abroad. It offers collateral-free loans of up to INR 1 crore for top-ranked universities and courses. It provides a repayment tenure of up to 15 years and a moratorium. Check the major features of ICIC Bank education loan to study abroad below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Loan Amount: Up to INR 1 crore for select courses.<\/li>\n\n\n\n<li>Repayment Tenure: Up to 15 years post-moratorium.<\/li>\n\n\n\n<li>Moratorium period of course period plus one year or 6 months after getting employed.<\/li>\n\n\n\n<li>Loans sanctioned without collateral for students enrolling in premier global universities.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-bank-of-baroda-education-loan-scheme\"><span id=\"bank-of-baroda-education-loan-scheme\">Bank of Baroda Education Loan Scheme<\/span><\/h3>\n\n\n\n<p>Bank of Baroda is one of the best public sector banks in India and is popular among students for study abroad loans. If you are thinking about which bank gives education loan without collateral for abroad then the Bank of Baroda must be considered. Check the major features of the <a href=\"https:\/\/fly.finance\/blog\/education-loan\/bank-of-baroda-education-loan\/\"><strong>Bank of Baroda education loan<\/strong><\/a> to study abroad below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Loan Amount: Up to INR 7.5 lakhs with up to 15 years repayment period under the Baroda Scholar Loan scheme.<\/li>\n\n\n\n<li>Eligibility: Students gaining admission to top-tier institutions abroad.\u00a0\u00a0<\/li>\n\n\n\n<li>Additional Benefits: Lower processing fees and attractive interest rates starting from 8.5%.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-axis-bank-education-loan\"><span id=\"axis-bank-education-loan\">Axis Bank Education Loan<\/span><\/h3>\n\n\n\n<p>The <a href=\"https:\/\/fly.finance\/blog\/education-loan\/axis-bank-education-loan\/\"><strong>Axis Bank Education Loan<\/strong><\/a> is a reliable option for Indian students pursuing higher education abroad. The bank offers collateral-free loans up to INR 1 crore for eligible courses and institutions. Check the features of Axis Bank education loan below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Loan Amount: Up to INR 1 crore without collateral and a repayment period of up to 15 years.<\/li>\n\n\n\n<li>100% coverage for expenses like tuition fees, accommodation costs, travel and other related expenses.<\/li>\n\n\n\n<li>Interest rate starts from 13.70% (for loan amounts above INR 7.5 lakh)<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Know all about <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/llb-education-loan-to-study-abroad\/\"><strong>LLB education loans<\/strong><\/a><strong> to study abroad and the best public banks, private banks, and NBFCs providing education loans for LLB students.&nbsp;<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-collateral-free-education-loan\"><span id=\"what-is-a-collateral-free-education-loan\">What is a Collateral-Free Education Loan?<\/span><\/h2>\n\n\n\n<p>A collateral-free education loan is a type of financial assistance that allows students to fund their studies without pledging any assets. As per the <a href=\"https:\/\/fly.finance\/blog\/education-loan\/iba-model-education-loan-scheme\/\"><strong>IBA model education loan<\/strong><\/a> the students need to pledge collateral such as property, fixed deposits, or other securities, as a guarantee for loans above INR 7.5 lakh. However, there are banks which provide collateral-free loans based on the student\u2019s academic merit, the reputation of the institution, and the employability prospects of the chosen course.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eligibility-criteria-for-collateral-free-loans\"><span id=\"eligibility-criteria-for-collateral-free-loans\">Eligibility Criteria for Collateral-Free Loans<\/span><\/h2>\n\n\n\n<p>To be eligible for a collateral-free education loan, students must meet certain criteria. Some of the essential eligibility criteria required for collateral-free education loans are admission to a recognised and reputed foreign university or institution and a strong academic record. Check more details on eligibility criteria for collateral-free education loans below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The loan is usually sanctioned based on the student\u2019s profile, with the co-borrower (usually a parent or guardian) having a stable financial background and a good credit score.<\/li>\n\n\n\n<li>Banks also consider the student\u2019s course of study, future employability, and the co-borrower&#8217;s ability to repay the loan when determining eligibility.<\/li>\n\n\n\n<li>The student must be at least 18 years old with a strong academic record.<\/li>\n\n\n\n<li>A strong credit history of the co-borrower (usually a parent or guardian) boosts approval chances.<\/li>\n<\/ul>\n\n\n\n<p>Securing an education loan without collateral for studying abroad has become simpler with the support of leading Indian banks. By choosing the right bank and meeting eligibility criteria, you can unlock your dreams of studying at top international universities without financial stress. Check some common FAQs based on which bank gives education loans without collateral for abroad below:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1733295918582\"><strong class=\"schema-faq-question\">What is a collateral-free education loan?<\/strong> <p class=\"schema-faq-answer\">A collateral-free education loan is a type of loan where no security, such as property or assets, is required. It is granted based on the student&#8217;s academic merit, the institution&#8217;s reputation, and the co-borrower\u2019s financial profile.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1733295931741\"><strong class=\"schema-faq-question\">How much can I borrow for studying abroad?<\/strong> <p class=\"schema-faq-answer\">You can borrow up to INR 1 crore, depending on the bank and the course you choose. Some banks offer higher loan amounts for top-tier institutions.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1733295971916\"><strong class=\"schema-faq-question\">Who can be a co-borrower for the loan?<\/strong> <p class=\"schema-faq-answer\">Typically, a parent or guardian with a stable income and a good credit score can act as the co-borrower for the loan.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1733296023303\"><strong class=\"schema-faq-question\">What are the eligibility requirements for a collateral-free loan?<\/strong> <p class=\"schema-faq-answer\">You must have an admission offer from a recognized foreign university, a strong academic record, and a co-borrower with a good credit history.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1733296034675\"><strong class=\"schema-faq-question\">Can I use the loan for living expenses?<\/strong> <p class=\"schema-faq-answer\">Yes, collateral-free education loans usually cover not only tuition fees but also living expenses, travel, and other academic costs.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1733296045010\"><strong class=\"schema-faq-question\">What is the interest rate for collateral-free education loans?<\/strong> <p class=\"schema-faq-answer\">Interest rates vary between 9-12% depending on the bank and your profile. Some banks offer discounted rates for top institutions.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1733296057911\"><strong class=\"schema-faq-question\">What is the repayment tenure for these loans?<\/strong> <p class=\"schema-faq-answer\">Repayment tenure generally ranges from 5 to 15 years, with a moratorium period covering the course duration plus a few months after completion.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1733296070351\"><strong class=\"schema-faq-question\">How do I apply for a collateral-free education loan?<\/strong> <p class=\"schema-faq-answer\">You can apply online or by visiting the bank\u2019s branch with documents like admission proof, academic records, and co-borrower details.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1733296083346\"><strong class=\"schema-faq-question\">Can I get a loan before securing admission?<\/strong> <p class=\"schema-faq-answer\">Yes, some banks, like HDFC Credila, offer pre-approved loans based on the course and university, even before admission is confirmed.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1733296097644\"><strong class=\"schema-faq-question\">Are there any hidden charges for education loans?<\/strong> <p class=\"schema-faq-answer\">Most banks charge processing fees, which are usually a small percentage of the loan amount. It&#8217;s important to check the terms and conditions for any additional charges.<\/p> <\/div> <\/div>\n\n\n\n<p>To know more about <a href=\"https:\/\/fly.finance\/loans\"><strong>education loans<\/strong><\/a>, the best <a href=\"https:\/\/fly.finance\/international-bank-account\"><strong>bank accounts for students<\/strong><\/a>, <a href=\"https:\/\/fly.finance\/forex\"><strong>forex<\/strong><\/a> and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background has-fixed-layout\"><tbody><tr><td colspan=\"2\"><strong>Additional Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/icici-bank-interest-certificate\/\"><strong>ICICI Bank Interest Certificate<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-interest-certificate\/\"><strong>SBI Interest Certificate<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/idbi-interest-certificate\/\"><strong>IDBI Interest Certificate<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/axis-bank-interest-certificate\/\"><strong>Axis Bank Interest Certificate<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/sbi-education-loan-disbursement-process\/\"><strong>SBI Education Loan Disbursement Process<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/bajaj-finserv-personal-loan-for-education\/\"><strong>Bajaj Finserv Personal Loan For Education<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-interest-rates-of-different-banks-and-nbfcs\/\"><strong>Education Loan Interest Rates of Different Banks and NBFCs<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/karnataka-bank-education-loan-interest-rate\/\"><strong>Karnataka Bank Education Loan Interest Rates<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/canara-bank-education-loan\/\"><strong>Canara Bank Education Loan<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/banks-offering-lowest-interest-rate-on-education-loans\/\"><strong>Banks offering Lowest Interest Rates on Education Loan<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Studying abroad is a dream for many Indian students. However, financing education overseas can be a major hurdle. Since every student cannot afford collateral so it is important to know which bank gives education loans without collateral for abroad. Several banks in India offer education loans without collateral for studying abroad, making it easier to &#8230; <a title=\"Which Bank Gives Education Loan Without Collateral For Abroad?\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/question-answer\/which-bank-gives-education-loan-without-collateral-for-abroad\/\" aria-label=\"Read more about Which Bank Gives Education Loan Without Collateral For Abroad?\">Read more<\/a><\/p>\n","protected":false},"author":24,"featured_media":16336,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[412],"tags":[],"class_list":["post-16335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-question-answer"],"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>Which Bank Gives Education Loan Without Collateral For Abroad?<\/title>\n<meta name=\"description\" content=\"Check best banks for loan and know which bank gives education loan without collateral for abroad. 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It is granted based on the student's academic merit, the institution's reputation, and the co-borrower\u2019s financial profile.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/question-answer\/which-bank-gives-education-loan-without-collateral-for-abroad\/#faq-question-1733295931741","position":2,"url":"https:\/\/fly.finance\/blog\/question-answer\/which-bank-gives-education-loan-without-collateral-for-abroad\/#faq-question-1733295931741","name":"How much can I borrow for studying abroad?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"You can borrow up to INR 1 crore, depending on the bank and the course you choose. 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