Non collateral education loans for studying in thailand

Education Loans
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Could you recommend some banks that offer non-collateral loans for students planning to study in Thailand?

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When looking for non-collateral loans to fund studies in Thailand, there are several banks and financial institutions in India that can offer assistance. Here are some options for students planning to study abroad, particularly in Thailand:

Banks Offering Non-Collateral Education Loans:

  1. State Bank of India (SBI) – SBI provides non-collateral loans up to ₹7.5 lakhs for studying abroad. For higher amounts, collateral might be required. SBI’s interest rates are competitive, and they offer a moratorium period (course duration plus six months) for repayment.
  2. HDFC Credila – This is a popular choice for non-collateral loans, offering loans up to ₹45 lakhs for abroad education, depending on the student’s profile and the university. HDFC Credila does not mandate collateral for smaller loan amounts but takes a detailed look at your academic and financial background.
  3. Axis Bank – Axis Bank provides unsecured loans for studying abroad, especially for students enrolling in postgraduate programs. Their loan amount can go up to ₹40 lakhs without collateral, depending on the university and the course selected.
  4. Non-Banking Financial Companies (NBFCs) – Institutions like Avanse, InCred, and Auxilo are known for offering non-collateral loans up to ₹40 lakhs, catering to students pursuing higher education abroad. These NBFCs may also have flexible repayment options and faster processing times compared to traditional banks.

Key Considerations:

  • Interest Rates: Interest rates for non-collateral loans can range between 9% and 15% per annum, depending on the lender, your academic profile, and your co-applicant’s financial situation.
  • Repayment Terms: Most banks and NBFCs offer a grace period (moratorium) where repayment starts after completing your course. During this period, you may need to service only the interest.
  • Eligibility: Your eligibility is assessed based on your academic track record, the university, and your co-applicant’s financial stability. It’s important to check if your chosen university in Thailand is listed by the lender for unsecured loans.

Remember to compare the terms, including processing fees and insurance requirements, before choosing the right lender.