Studying abroad is a dream for many students, but the cost of education can be a major hurdle. Fortunately, banks offer education loans to help students finance their studies. However, not all banks offer loans without collateral, which can be a challenge for students who do not have assets to pledge. In this article, we will explore the top banks that offer abroad education loans without collateral.
1. State Bank of India (SBI)
SBI is one of the largest banks in India and offers education loans for students who want to study abroad. The bank offers loans without collateral up to Rs. 7.5 lakhs for courses up to 3 years and up to Rs. 30 lakhs for courses longer than 3 years. The interest rate for these loans is competitive and ranges from 8.45% to 10.05%.
2. HDFC Bank
HDFC Bank is another popular bank that offers education loans without collateral. The bank offers loans up to Rs. 20 lakhs for courses in India and up to Rs. 40 lakhs for courses abroad. The interest rate for these loans ranges from 9.50% to 13.50%.
3. Axis Bank
Axis Bank is a private sector bank that offers education loans without collateral up to Rs. 40 lakhs. The bank offers loans for courses in India and abroad and the interest rate ranges from 10.50% to 15.20%.
4. Bank of Baroda
Bank of Baroda is a government-owned bank that offers education loans without collateral up to Rs. 80 lakhs. The bank offers loans for courses in India and abroad and the interest rate ranges from 7.50% to 9.50%.
5. Canara Bank
Canara Bank is another government-owned bank that offers education loans without collateral up to Rs. 7.5 lakhs for courses in India and up to Rs. 40 lakhs for courses abroad. The interest rate for these loans ranges from 7.45% to 9.95%.
In conclusion, these are the top banks that offer abroad education loans without collateral. Students can choose the bank that suits their needs and requirements. It is important to compare the interest rates, repayment options, and other terms and conditions before applying for a loan. With the right education loan, students can achieve their dream of studying abroad and build a successful career.
