The loans for students studying abroad has become a very competitive field. We have seeing increased traction among existing lenders and a plethora of new lenders entering the field. It becomes very tough for us to provide you the best lenders for study abroad loan options. However we at Edu loans work with about 15 lenders and hence can let you know the individuals strengths of each lender.
We have categorised the lenders into the best in the categories.
1.Best lender for collateral loan – we would say the best lender for collateral loan is bank of Baroda which has made a special preferential list of universities where in you get hundred percent of the loan amount, hundred percent of the property amount, 0.75% discount on general prevailing education rate, Completely refundable processing fees as well as a complete digital integration with Edu loans.
2.Best lender in terms of reach – SBI is the biggest lender for overseas education loans in the country. The number of branches catering to education loan cannot be matched by any other competitor. As well the loan process is very standardised and rate is same for all eligible applicants.
3.Best lender for USA – HDFC Credila would be our choice for the best lender for USA as it has both secured and unsecured options. HDFC Credila provides unsecured loan up to 40 lakhs for students looking to study masters in USA in the same field. It has been a pioneer in study abroad market.
4. Best lender for the Credit – – Avanse would be our choice as a lender which is most accommodating in terms of the security profile as well as the parental profile. They do consider security which has certain legal issues and retired parents.
5.Best lender for convenience – Prodigy finance is a lender which is completely online and you can get an approval within 15 minutes for your application. We would categorise this as the best lender for convenience and prodigy finance as well does not take into requirement of a co-signer. They have been the market leaders for non-collateral non-co-signer loan
6. Best lender for unsecured loan – ICICI Bank is the latest entrant in the overseas education loan segment. They have categorised universities as A1/A2/A3/A4. They are very rate competitive by providing unsecured loan between 10% to 11%. Hence they would be rated hours as the best lender for unsecured loan.
We at Eduloans have over 12,000 students on our platform and cater to over 1000+ students annually. We are well aware the most suited overseas education loan option for you as a student. Please reach out to us as we are a free platform, have dedicated loan counsellors who can help and guide you for the best available options in the market. It is also worthwhile to note that we have the largest number of lenders on a single platform in India.
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