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Education loan without collateral

WeMakeScholars is an organization funded and supported by the Ministry of IT, Government of India under the 'Digital India Campaign'. Our motive is to offer unbiased support to students with international education finance via scholarships and education loans. It is one of the biggest scholarship aggregators globally with more than 26,000 scholarships on the portal and more than 1.5 million students from 200 countries access it every year. For education loans, we work with 10 banks (public/private) in India/abroad including top banks like State Bank of India. WMS is a Not-just-for-Profit organization which aims to bring out the most reliable and transparent information about everything related to International education funding!

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Education loan without collateral

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  1. Education Loan without Collateral Educational loans are great financial aid to students who want to pursue studies in India or abroad. It helps students pursue their dream of studying and achieving admission to a university.  WeMakeScholars Govt. Funded Organization

  2. Introduction to Education Loan without collateral Non-collateral or unsecured loan is a type of loan where the student does not require to pledge any collateral in order to avail a loan. Non-collateral or unsecured loan is a type of loan where the student is not required to pledge any collateral in order to avail an education loan. Govt. Funded Organization

  3. What if you do not have any collateral? You need not pledge collateral to any Govt. bank if you are availing a loan up to INR 4 lakhs. According to guidelines set by RBI, all banks have provision to provide education loan without collateral up to INR 7.5 lakhs when certain criteria are met. If you want to avail an education loan that is more than INR 7.5 lakhs, private and NBFCs (Non-Banking Finance Corporations) provide loans up to INR 50 lakhs without security.

  4. Which banks can you approach for education loan without collateral? The aforementioned non-banking finance companies (NBFC) provide collateral-free education loans till INR 50 lacs as well. The interest rate ofIncred, Avanse, Auxilo is between 10.5% to 13.5%.

  5. What is the loan procedure for education loan without collateral? Fill the online application form WMS would connect you with the nearest bank Processing officer verifies the application and sanctions the loan. Bank officials verify it and send it to the processing centre. Govt. Funded Organization

  6. What is the loan procedure for education loan without collateral? Disbursement agreement is signed and disbursement of loan amount takes place. After the loan is sanctioned, you will be required to sign the documents.

  7. Why apply via WeMakeScholars? WeMakeScholars WILL NOT collect any documents. Everything will be submitted to the bank itself for confidentiality reasons. This way, you get complete end-to-end support from the WeMakeScholars team with trust.  If u apply directly to any bank/ NBFC, you might get rejection without any proper explanation. Contrarily, if you apply via WeMakeScholars, the team will negotiate with the lender to find other ways/ additional documents which can increase your chance of approving the education loan. 

  8. c Free of cost service Thank You Govt. Funded Organization

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