Confused Between Education Loan from Bank or NBFC? Clear All Your Doubts Here! | GyanDhan

Financing is a major hurdle in your study abroad dream. As India’s first education loan startup, we have tied up with several banks and Non-Banking Financial Companies (NBFCs) to bring the best education loan options to you.


This is a companion discussion topic for the original entry at https://www.gyandhan.com/blogs/banks-vs-nbfcs

How preferable it is to take a loan from an NBFC?

Is it possible to get an unsecured loan for PG diploma for Canada for more than INR 25 lacs from a private bank?

Ideally, the best loan to opt for is a secured loan from a public sector bank because not only do you have a security backing you, but also the interest rate is comparatively lower. Also, loans from public sector banks are eligible for tax benefits. An NBFC comes to your rescue when you have a low CIBIL score and weak academic profile. In such cases, you can rely on getting an education loan from NBFCs, but you will have to pay higher rates of interest.

No. Private banks do not provide unsecured loans for PG diploma in Canada. You can try for an education loan from NBFC.