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FAQs about Secured Overseas Education Loans

Clear all your doubts about secured overseas education loan and know what are the requirements to apply for an overseas education loan.

RitaBiswas
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FAQs about Secured Overseas Education Loans

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  1. FAQs about Secured Overseas Education Loans

  2. An insight about secured overseas education loan is given as many countries prefer secured loan as compared to unsecured loan. Again, it all depends upon the type of course, the duration of course, University and country.

  3. Types of Collateral that can be offered? Any one of the following assists must be the collateral: Moveable Collateral – Fixed Deposit, LIC Policies, Govt. Bonds, Postal deposits etc. Immoveable Collateral – Independent house, apartment, a bungalow, shop or open plot.

  4. Why collateral is required when my co- borrower has a very good income? The risk involved in the credit is mitigated by the Collateral. The future of the student is not forecasted as the students has not started earning yet, hence the collateral. The collateral enables the students to get a better interest rates on overseas education loan, thus it entirely depends on the students and parents to show the required CREDITS: This presentation template was created by Slidesgo, including icons by Flaticon, and infographics & images by Freepik. collateral.

  5. What if a student has no support system or surety? As explained earlier, we do give weightage to the student's past academic track record, entrance test scores, future school, institute, university's reputation and employability.

  6. My collateral is mortgaged with another bank and is of a high value. Can I give the same property as collateral? No, you cannot take loan against the same property in a different bank. But there are 2 options available. You can either transfer the existing loan to the new desired bank and also apply for education loan Or else you can take up a Top Up Loan in the existing bank itself.

  7. Visit here: www.elanloans.com Our Address: 'Krishna’, Plot No. 10/2, I.T. Park, Opp. V.N.I.T, Behind Infotech Tower, Parsodi Nagpur, Maharashtra, India- 440022 Email: info@elanloans.com Contact No: +91 74477 57842

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