Elan Overseas Education Loan

Getting an education loan for overseas study is an important decision. Based on the country of study, the course, course duration, University/ institution and the location, the loan amount may vary from around 20 Lakhs to more than 1 Cr. In such cases, the right education loan becomes the most important factor in the education process. The financial institution granting Student Loans for Studying Abroad not only check the academic score, reputation of the applied institution, and the co-borrower’s salary,   but also take another factor into account- The Credit Score. This article talks about the credit score and provides the different ways in which your credit score may be improved. What is a Credit Score? A person’s entire borrowing history, from credit card bill repayments, various kinds of loan repayments, and even such things as payment of rent comprises his/ her credit history. This credit history is compiled into what is known as, the cr...

Getting an Overseas Education Loan to finance higher studies is no trivial matter. There’s a huge amount of money involved, covering education fee and cost of living at the destination country which needs to be considered. This money needs to be sanctioned from the financial institution first and later repaid with interest. Hence, a lot of factors need to be considered so as to ensure that the entire process is conducted smoothly. The financial agencies granting Education Loan for Abroad Studies are : Nationalized Banks Private Banks Non-Banking Financial Companies (NBFCs) Here are some examples of each type; Nationalized banks: State Bank of India, Bank of Baroda Private Banks: Axis Bank, ICICI Bank NBFCs: Auxilo, HDFC Credila, InCred Each institution follows a distinct process to evaluate the borrower’s profile and assess the amount to be disbursed on a case-to-case basis. The student is advised to have detailed knowledge about the criteria that the lending...