What type of educational loan is suitable, property or non-property?
It depends on your loan amount and financial situation.
- Property-backed (secured) loans are best if you need a higher loan amount (up to ₹1.5 - 3 crore). They offer lower interest rates and longer repayment periods, but you must pledge assets like property or fixed deposits.
- Non-property (unsecured) loans are suitable for smaller amounts (usually up to ₹50 - 75 lakh). They have higher interest rates and shorter repayment terms, but no collateral is needed - approval depends on your academic and financial profile.
With your strong academics and work experience, you may get good terms on an unsecured loan if the required amount is moderate. For larger amounts, a property-backed loan is more cost-effective.
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