Can I get a non-collateral loan from nationalized banks like SBI for studying in New Zealand?
06 Aug 2026 · Answered by Edayachandiran Velmurugan · 1 min read
Yes, you can apply for a non-collateral (collateral-free) education loan from nationalized banks like SBI for studying in New Zealand, but there are key conditions.
- Up to ₹7.5 lakh: Typically available as non-collateral loans under schemes like the Credit Guarantee Fund Scheme for Education Loans (CGFSEL).
- Above ₹7.5 lakh: Usually requires collateral unless your chosen institution is on the bank’s approved list for higher, collateral-free amounts.
Immigration New Zealand often prefers loans secured with collateral as proof of genuine financial support. If you use a non-collateral loan, ensure the sanction letter and fund disbursement meet visa requirements.
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