Can we get loan without property documents??to study in abroad?

Asked by Yeggina Bhaskar Naga RamMohan about 1 year ago

Answers 1
Prakhar Tyagi

Prakhar Tyagi

MentR-Me
MentR-Me Team

Country Expert : UK

Non-Banking Financial Companies, or NBFCs, play an important role in providing financial assistance to students studying abroad. In contrast to the government and private banks, these are the financial institutions that provide education loans without requiring any security in the shortest amount of time. A non-banking financial institution (NBFC) is a financial institution that does not have a full banking licence and is not supervised by a national or international banking regulatory agency. NBFCs provide bank-related financial services and are allowed to manage transactions similar to those of a bank, such as lending loans, insurance, debentures, securities, education loans, and so on. Eligibility requirements for students and co-applicants seeking an education loan with no collateral. When it comes to eligibility criteria for education loans, NBFCs appear to be more stringent and rigid than public banks. Because NBFCs provide abroad education loans to applicants and co-applicants without requiring collateral, they only lend to those who meet their eligibility criteria. Some of the basic eligibility criteria established by NBFCs are as follows:

The applicant must be at least 18 years old.
The applicant must have been accepted into a master's or postgraduate programme at a reputable university abroad.
The applicant's academic profile must meet the lending NBFC's eligibility criteria.
Before lending unsecured abroad education loans to a student, NBFCs consider the following factors about the student's academic profile:

GRE, TOEFL, GMAT, SAT grades 
Secondary and higher secondary certificates (Xth and XIIth) 
If you have any further questions just ask me or book a free call with our study abroad expert to know more.

 


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