SBI's move to up collateral-free study loans could push other lenders
3 days, 6 hours ago

SBI's move to up collateral-free study loans could push other lenders

Live Mint  

India's largest lender State Bank of India has begun offering collateral-free study loans of up to ₹50 lakh for students heading out to top foreign universities, entering an arena dominated by top private lenders. “SBI's decision to offer loans without collateral for select universities abroad is a progressive step that will significantly ease access to education financing for students. Arjun Chowdhry, group executive and head of retail assets, payments and affluent banking at Axis Bank said that the private sector lender currently offers collateral-free education loans up to ₹1 crore to students eligible for admission into various prestigious institutions like Harvard, Oxford and MIT. Banks charge higher interest rates on collateral-free education loans due to the increased risk associated with lending without any security against the loan amount.

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History of this topic

SBI’s collateral-free education loan for studying abroad: All you need to know
2 days, 20 hours ago

SBI’s collateral-free education loan for studying abroad: All you need to know

Hindustan Times  

State Bank of India has taken a significant step to help students achieve their dreams of studying abroad. SBI’s collateral-free education loan for studying abroad: With flexible repayment terms and coverage for major expenses, this scheme reduces financial hurdles and helps students focus on achieving their academic goals. What you should know about SBI’s collateral-free education loan for studying abroad: …

SBI Ed Vantage scheme's collateral-free loans for up to ₹50 lakh, what it means for students planning to study abroad
Top News
2 days, 21 hours ago

SBI Ed Vantage scheme's collateral-free loans for up to ₹50 lakh, what it means for students planning to study abroad

Hindustan Times  

Are you planning to move abroad for higher studies but worried about your managing finances? You may just be a tad bit closer to your dream of studying abroad as India's premier bank, the State Bank of India is offering collateral-free education loans of up to ₹50 lakhs through the SBI Global Ed Vantage scheme. Check how SBI's Global Ed …

Can students without income apply for personal loans? A complete guide
1 week, 5 days ago

Can students without income apply for personal loans? A complete guide

Live Mint  

Securing a personal loan as a student can be a practical solution to manage unexpected expenses or cover various personal costs. Whether you're facing immediate expenses or need extra financial support, understanding the ins and outs of student personal loans can help you make informed decisions. Students without a steady source of income may be eligible for immediate personal loans …

All about education loans for studying abroad
1 year, 1 month ago

All about education loans for studying abroad

Hindustan Times  

Education loans for studying abroad has evolved significantly since the initiation by the State Bank of India in 1995. Education loans for studying abroad: All you need to know In an exclusive interview, Amit Singh, founder of Unicreds, details all that a student should know before applying for an education loan to study abroad. There are several banks and non-banking …

International education loan: What students should not overlook while applying?
2 years ago

International education loan: What students should not overlook while applying?

Live Mint  

2022 was a year of many ups and downs for students who were looking for an overseas education. In general, government banks accept three different types of assets as collateral security for secured education loans: immovable property, liquid assets, and third-party assets. For instance, public banks require a formality called the education loan disbursement letter which states the method of …

SBI’s personal banking advances cross ₹5 lakh-cr mark; stock nears 1-year high
2 years, 1 month ago

SBI’s personal banking advances cross ₹5 lakh-cr mark; stock nears 1-year high

Live Mint  

Largest lender in India, SBI has touched a new milestone in personal banking advances by crossing the ₹5 trillion mark by end of November 2022. The first time SBI struck a ₹1 trillion mark in personal banking advances was in January 2015. In a matter of 12 months, SBI has managed to clock ₹5 trillion mark in personal banking advances. …

An Indian student's cheat sheet to bagging education loan
2 years, 3 months ago

An Indian student's cheat sheet to bagging education loan

Live Mint  

Are you one of those students who have just gained admission to a college and are looking for an education loan? Interest rates, collateral Many PSBs offer a range of education loan schemes including those specifically targeted at students who get admissions in prominent MBA, engineering, medical and law colleges. For example, State Bank of India provides loans of up …

Digital lending in the education sector: How financial barriers are fading
2 years, 4 months ago

Digital lending in the education sector: How financial barriers are fading

Firstpost  

Based on the creditworthiness and requirements of the students, companies today provide a wide range of loan offers that can cover up to 100 per cent of the finance requirements In a country of nearly 1.3 billion people with a significant young population, financial barriers mustn’t affect the hope of pursuing higher education. In fact, the education loan approval rate …

BHU introduces interest-free loan scheme to support economically weak students
2 years, 8 months ago

BHU introduces interest-free loan scheme to support economically weak students

India Today  

Coming to the aid of students facing challenges in their education due to their weak economic condition, the Banaras Hindu University has begun an interest-free loan assistance scheme for students studying at the varsity. As per the statement, students belonging to families holding a Below Poverty Line care, students who lost their parents to Covid-19 or students whose parents died …

Education Loan for Higher Studies in India, Abroad: Know Eligibility, Documents Needed
3 years, 4 months ago

Education Loan for Higher Studies in India, Abroad: Know Eligibility, Documents Needed

News 18  

Education loan play a vital role in the development of one’s career. For those aspiring learners who want to expand their horizons and study abroad, the education loan acts as an ideal bridge. The lender will look at the placement rates for students from that course, the job prospects and the overall value that course has before they even consider …

SBI Offers Rs 5 lakh Collateral-Free Loan at Low Interest Rate With Moratorium
3 years, 6 months ago

SBI Offers Rs 5 lakh Collateral-Free Loan at Low Interest Rate With Moratorium

News 18  

The State Bank of India has recently announced a new personal loan plan — Kavach Personal Loan. “We are happy to introduce SBI Kavach Personal Loan scheme to help people affected in the wake of COVID -19 crisis. The borrowers do not need to pledge any asset as security while applying for the loans under SBI Kavach Personal Loan plan. …

List of education loans at concession by State Bank of India
3 years, 9 months ago

List of education loans at concession by State Bank of India

India Today  

SBI Education loan interest rate in India has been reduced for students who are planning to study abroad. SBI Student Loan Scheme: Students can take upto Rs 7.5 lakh from SBI at an interest rate of 9.30 per cent. SBI Scholar Loan Scheme: Students who are applying for Indian Institute of Management, Indian Institute of Technology, National Institute of Technology …

Education Loans Dip as Incomes, Opportunities Impacted by COVID
4 years, 3 months ago

Education Loans Dip as Incomes, Opportunities Impacted by COVID

The Quint  

The economic fallout of the coronavirus pandemic continues to get worse with people suffering pay cuts, getting furloughed and even unemployed. The latest sector to have been hit is education loans, as more number of people shy away from opting for it. According to the country’s second-largest education loan company Avanse, business has dipped but lenders are not fearing defaults …

Four study loan eligibility criteria NBFCs go easy on
5 years, 3 months ago

Four study loan eligibility criteria NBFCs go easy on

Live Mint  

In 2013, Vivek Panchpande, who is visually challenged, felt elated when he got accepted for higher studies at four different universities in Canada, New Zealand, the UK and the US. M. Barve, a Mumbai-based independent financial adviser, said, “For most banks, the educational loan interest rate is available at 10.25-11%. Prashant B., head-student loan, Incred Finance, a new-age technology and …

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