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A non-collateral education loan is a type of study abroad loan that enables students to finance their higher education without keeping (pledging) any security or guarantor on stake. Unlike collateral loans, these are unsecured in nature as borrowers do not need to offer assets like:
In raw words, it is just an Ed Loan Without Mortgage.
The lenders evaluate the student’s profile on various criteria to determine eligibility furnished below:
Note: The interest rates may be slightly higher than collateral-backed loans. The loan amount depends on the lender’s policies and the applicant’s credit profile.
At QuickTransMate, we simplify the process with fast approvals, competitive interest rates, and a stress-free application experience through our trusted and completely digitalized platform. Our partnerships with 12+ Banks and NBFCs ensure that students receive the best loan options to fund their study abroad journey, without stressing about collaterals.
It is not just about Collateral vs. non-collateral education loans, but making a smart choice while availing the maximum benefit. If we talk about study abroad costs can leave your head spinning, especially when universities, living expenses, and travel costs add up quickly. Opting for a no-collateral education loan is the perfect solution for students who want to study abroad but may not have financial assets to pledge. Whether you're heading to the USA, UK, Canada, or beyond, this loan gives you the freedom to focus on your studies, not on securing collateral.
| No Security Required | You don’t need to mortgage property, fixed deposits, or any other asset, making it accessible to more students. |
| Quick & Easy Approval | Since no property valuation or legal verification is involved, the loan processing is much faster, ensuring timely funding for your education. |
| Higher Loan Amounts | Depending on your academic profile, university ranking, and future earning potential, you can secure a loan of up to ₹50 lakh or more. |
| 100% Expenses Coverage |
A non-collateral loan can cover:
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| Flexible Repayment Options | Enjoy repayment tenures of up to 15 years, with a moratorium period that allows you to start repaying after course completion. |
| Covers Range of Courses & Countries | These loans are offered for undergraduate, postgraduate, and professional courses in top study destinations like the USA, UK, Canada, Australia, Germany, Ireland, and more. |
| Ideal for High-Potential Students | If you have strong academics, admission to a reputed institution, and promising career prospects, lenders are more likely to approve your loan, even without collateral. |
Several financial institutions offer education loans for studying abroad without requiring collateral. Below is a list of lenders that provide unsecured study loans based on factors such as your academic profile, university ranking, and financial co-applicant's eligibility.
Most lenders do require a financial co-applicant (like a parent or guardian) who meets certain income criteria.
Many students often ask, “Can I get an education loan without a co-applicant or guarantor?” The answer is YES! Some international lenders, like MPOWER Financing and Prodigy Finance, offer study abroad loans without requiring collateral or a financial co-applicant.
The table below outlines the loan amounts and interest rates offered by different lenders for collateral-free study abroad loans. Keep reading to compare your options and find the best financial solution for your education journey.
Many top study destinations welcome students who finance their education through unsecured education loans, eliminating the need for collateral. Here are the leading countries where you can study with a collateral-free loan:
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Now, you must be wondering about how much loan amount you will get without a mortgage. It depends on multiple factors, such as the country, university ranking, and co-applicant’s financial profile.
Just for your idea, here is a rough estimate:
Quick Insight: Universities in the USA, UK, Canada, and Germany have better loan approval chances due to their high employability rates.
Applying for an education loan at Quick Eduloan is simple and hassle-free:
Step 1: Check Your EligibilityFill out our quick loan eligibility form online. Our experts will analyze your profile and provide the best options.
Step 2: Submit Your DocumentsUpload the required documents digitally for faster processing.
Step 3: Get Loan ApprovalOnce verified, you’ll receive loan sanction approval within a few days.
Step 4: Loan DisbursementUpon final approval, the loan amount is directly disbursed to the university as per the fee schedule.
Quick Insight: Students with strong academic records and top-tier university admissions can get pre-approved loan offers within 24-48 hours.
When you think of an education loan for studying abroad, think no further than Quick Eduloan.
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