How can we take a collateral loan if we don't have property or land?
Yes, you can get an education loan without property or land as collateral.
Many banks and financial institutions offer unsecured education loans for students going abroad. Approval depends on factors like your academic record, admission to a recognized university, and your co-applicant’s (usually a parent’s) financial profile.
- Public banks in India typically offer up to ₹7.5 lakh without collateral for domestic studies.
- Private banks and NBFCs may offer higher amounts - sometimes up to ₹40 - 50 lakh - for studies abroad, but interest rates may be higher.
- Government schemes like the Credit Guarantee Fund Scheme for Education Loans (CGFSEL) and PM Vidyalakshmi Scheme also support collateral-free loans up to certain limits.
Loan terms and eligibility are subject to change.
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