Finance your Higher-Ed 100% without collateral

At least one in three Indian students takes a property-backed loan for their international education. What if you could finance your higher education 100% without collateral? Yes, it is possible! With increasingly flexible financing tools at our disposal, loans now go beyond traditional credit scores. 

Your loan eligibility will not be determined by your current financial status. This makes international degrees more accessible and affordable for all Indian students. Hear from Pratham Nigam, Business Head at Propelld, about the revolution in education financing. Learn more about tailored financial outcomes for your study abroad journey. 

Talking points of the webinar:

 

• Various Loans & Financial Schemes
• Affordable UG/PG Programs with Easy Financing Options
• Loan Eligibility Assessment & Collateral Options 
• Interest Rate on Education Loans
• Pre-Visa Loan Disbursement

Summary:

🎓  Pratham, the Business Head at Propelled, in a webinar discussing higher education financing. Pratham explains various financing options for studying abroad without collateral.

Notes:

- Pratham Nigam, Business Head at Propelld | P&L | Fintech | Lending aims to revolutionize education financing.

- They highlight the importance of accessible and affordable education.

- Pratham discusses different types of Education loans, including collateral-free options.

- No-cost EMIs and hybrid EMIs are mentioned as attractive loan options.

- Secured and unsecured loans are explained, with a focus on a strong education background for better terms.

- Scholarship loans and personal loans for education purposes are also discussed.

- Borrowing in foreign currency (USD or Euro) is explored as an option.

- The importance of university ranking for loan approval is emphasized.

- Pratham advises considering public and private sector banks for loans up to 25 lakh rupees and NBFCs for higher loan amounts without collateral.

Note: The provided text contained multiple repeated sections, and some information was highly specific to the Indian education financing context. The response includes essential information from the text while maintaining clarity and relevance. 

- 💰 Interest Rate for banks.

  - Private sector banks may offer rates between 9.5% to 12%.

  - Interest rates on education loans can be 8.5% to 10% for public sector banks.

  - NBFCs and small finance banks can provide loans at competitive rates, often with quicker approval.

- 📊 Loan Eligibility:

  - Credit score plays a significant role in loan approval, with scores above 800 receiving the best rates.

  - Parent's income and stable financial status can positively impact approval.

  - Academic performance, especially in GRE/GMAT/IELTS, can influence eligibility.

  - University credentials and affiliations are considered for loan approval.

- 🏠 Collateral & Documentation:

  - Public sector banks usually require collateral, while NBFCs may offer collateral-free loans.

  - NBFCS and fintech companies often have quicker approval processes with minimal documentation.

- 🌏 Pre-Visa Disbursement:

  - Some countries require pre-visa disbursement of funds. Discuss this requirement with your lender.

  - Pre-visa disbursement ensures a specified amount is in your bank account before visa processing.

- 💡 Tips:

  - Start the loan application process as early as possible, ideally six months before your course begins.

  - Compare interest rates and terms from multiple lenders to secure the best deal.

  - Be prepared and gather required documents to expedite the loan approval process.

Remember, individual circumstances may vary, and it's crucial to consult with specific lenders for the most accurate information and assistance with your education loan application.

- 💡 Start planning for education loans early (around the second year of undergraduate studies).

- 💰 Assess your financial situation, including your parents' income and credit score.

- 📚 Focus on academic performance to secure a seat in your desired university.

- 🌐 Research and apply to universities, and consider your loan approval limits.

- 🕒 Apply for loans as soon as your GRE/GMAT scores are available to get the best interest rates.

- 🦈 Be cautious of applying for loans in a hurry, as it may lead to higher interest rates.

- 📖 Seek guidance from peers who have already gone through the process.

- 💻 Utilize online forums and resources to gather more information.

- 📆 Plan and manage your time effectively to avoid last-minute rushes.