Am I eligible for an education loan, and how much loan can I receive for a Bachelor's/Master's?
Yes, you are eligible for an education loan as an Indian student with a four-year bachelor's degree and no backlogs, planning to pursue a master's abroad.
- Up to ₹7.5 lakh: Public sector banks typically offer collateral-free loans up to this amount.
- Above ₹7.5 lakh: Higher loan amounts usually require collateral, but some private banks and NBFCs may offer larger unsecured loans based on your profile and the institution.
Eligibility depends on your academic record, confirmed admission to a recognized institution, and a co-applicant with a stable income. Loan terms and maximum amounts are subject to change.
More expert answers
Yes, you are eligible for an education loan to pursue a master's degree in the USA with your four-year bachelor's degree and no backlogs.
- Without collateral: Unsecured loans typically range up to ₹40 - 50 lakh.
- With collateral: Secured loans can go up to ₹1.5 crore or more, depending on the lender and your financial profile.
You will need admission to a recognized university and a co-applicant (usually a parent or guardian) with a stable income. Loan terms and interest rates are subject to change based on the lender.
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