Students applying for overseas education loans must provide six months of bank statements from co-applicants if collateral is involved. Interest rates range from 8.64% to 14.25%, with a typical repayment tenure of 12 to 14 years and a moratorium period after course completion.
5 min read6 Feb 2025Typically, education loans of up to ₹7.5 lakh require no collateral but parents must jointly borrow it with the applicant; for loans above ₹7.5 lakh, not only do parents need to be co-borrowers, banks also require “tangible collateral security of suitable value”.
5 min read6 Jan 2025Education loans are vital for Indian students pursuing studies abroad, driven by high aspirations and career goals. Proper financial planning, thorough research of loan options, and timely application are essential for a smooth education financing journey.
4 min read3 Sep 2024In Budget 2024, Nirmala Sitharaman announced to give e-vouchers for loans up to Rs. 10 lakh for higher education in domestic institutions to be given directly to one lakh students each year for annual interest subvention of 3 per cent of loan amount.
1 min read23 Jul 2024The South African-Australian investment firm infused $30 million into the company, with an additional $3-4 million coming in from existing investors Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II. The capital infusion will help Auxilo expand its student lending portfolio.
2 min read15 Jul 2024Mint Money Talks | Balpreet Singh is a Mumbai-based IT professional. Though he’s been investing for a while now, it was only in the last few years that he decided that he had to plan well, to ensure he meets his and his family’s financial goals. One major decision the family made was, that his wife Chanchal Kaur stepped back from her own academic career to help their daughter with her education, making Balpreet the sole earner. So how did the family ensure that they planned well so they could continue with their lifestyle - and also save well for their own retirement, as well as their daughter’s education? Watch!
8 Jul 2024Education loans bridge the gap between available funds and required amounts, covering essential fees and expenses for various courses. Banks offer up to 100% financing based on factors like course type and loan amount.
5 min read23 Apr 2024Although utilising a personal loan for educational pursuits is feasible, it may not offer the most advantageous terms.
4 min read26 Mar 2024In the fiscal year 2023, educational loans offered by NBFCs doubled, rising from Rs 13,000 crore in the previous year to over Rs 25,000 crore, bridging the gap between students and their academic aspirations.
3 min read3 Oct 2023What are interest rates? How do they influence our lives, and economy of the country? Detangle With MINT Explains In A Minute
31 Jul 2023The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared
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