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Loan Eligibility Checker
At Study Bank, we understand that securing an education loan for studying abroad can be overwhelming. That’s why we offer a Loan Eligibility Checker—a fast and reliable tool designed to assess your eligibility in minutes. With just a few details about your academic background, financial status, and study destination, you can instantly know if you qualify for a loan.
Our smart eligibility checker saves you time by providing accurate results and recommending the best loan options tailored to your profile. Whether you're applying for a collateral-free loan, a cosigner loan, or one without a co-applicant, our tool simplifies the process by matching you with suitable lenders.
No Credit Score Impact
Instant Eligibility Check
Multiple Loan Options
Expert Assistance
Table of Contents
What is a Loan Eligibility Checker?
A Loan Eligibility Checker is an online tool that helps students determine whether they qualify for an education loan to study abroad.
It Analyzes Factors such as:
It Analyzes Factors such as:
- Credit score and financial history.
- Income proof and repayment capacity.
- University and course details.
- Collateral and co-applicant details (if applicable).
Factors that Affect Your Abroad Education Loan Options
Several factors impact your eligibility for an education loan abroad :
| Factor | Description |
|---|---|
|
Academic Profile |
Your academic records, including GPA and test scores, play a role in loan approval. |
|
Country & Course |
Some countries have easier loan approvals, while high-demand courses improve eligibility. |
|
Loan Amount & Tenure |
Larger loan amounts may require collateral or a co-applicant. |
|
Credit Score |
A high credit score increases approval chances and lowers interest rates. |
|
Co-Applicant or Cosigner |
Having a financially strong co-applicant enhances loan approval chances. |
|
Collateral Security |
Providing collateral makes you eligible for lower interest rates. |
Loan Eligibility Checker for Abroad Studies
Our Loan Eligibility Checker is specifically designed for students planning to study abroad. It evaluates:
| Abroad Education Loan Category | Description | Eligibility |
|---|---|---|
|
INR Education Loan Options |
Indian lenders offer Indian citizens these INR options for education abroad. There are mainly two categories – Secured (with collateral) & Unsecured (without collateral). |
– Be an Indian citizen – Get admission abroad – Have collateral or an earning cosigner for the loan guarantee – Minimum 700+ CIBIL score of the cosigner if opting for unsecured options |
|
US Cosigner Education Loan Options heduling |
US banks offer education loan options to international students on the guarantee of a cosigner who must be a US citizen or a permanent resident. |
– Get admission to a US school – Have a US citizen or permanent resident as your cosigner |
|
No Cosigner Education Loan Options |
No cosigner loan options are offered by international lenders for studying abroad. Students do not require collateral or a cosigner for these options. |
– Secure admission to a course & institution listed by the lender – Have a good CIBIL score |
How Does the Loan Eligibility Checker Analyze Your Loan Eligibility?
The Loan Eligibility Checker uses a smart algorithm to analyze your profile :
1
Input Your Details
- Enter your name, contact, course details, and country of study.
- Provide financial information, including income and expenses.
2
Automated Analysis
- The tool verifies your creditworthiness, collateral, and co-applicant details.
- It cross-references with lender criteria.
3
Result Generation
- Displays whether you are eligible or not.
- Suggests the best loan options with interest rates and terms.
How Do You Use the Loan Eligibility Checker?
Using the Loan Eligibility Checker is simple and fast :
- Step-1: Go to the Loan Eligibility Checker page.
- Step-2: Enter your details:
- Full name, Contact Details
- University, course details, collateral or no-collateral type.
- Cosigner Information
- Loan amount and tenure
- Step-3: Submit the form.
- Step-4: Get instant eligibility results with loan options.
How to Find Your Study Abroad Loan Options?
Once you check your eligibility, you can explore multiple loan Options:
- 1. Compare Loan Offers:
- View details of different banks and NBFCs.
- Compare interest rates, tenures, and repayment terms.
- 2. Collateral vs. Non-Collateral Loans:
- Choose between secured and unsecured loans based on your eligibility.
- 3. Get Expert Guidance:
- Consult with our loan experts to select the best loan option.
Trusted Banks
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Study Bank Abroad Education Loan Eligibility Checker Benefits
Instant Loan Eligibility Assessment
- No waiting time – Get immediate results.
- Faster decision-making – Move forward with loan applications confidently.
Personalized Loan Options
- Matches you with lenders that fit your needs.
- Displays loan options with customized interest rates and tenures.
Multi-Lender Comparison
- Interest rates, EMI plans, and tenure comparison.
- Enables you to find the most cost-effective loan.
No Impact on Credit Score
- Safe and risk-free check.
- Suitable for exploring loan options without any consequences.
Time-Saving & Convenient
- Fully online and easy-to-use tool.
- Saves hours of physical visits and paperwork.
Expert Guidance & Support
- Loan experts available to answer your queries.
- Personalized suggestions to help you choose the right loan.
Top Features of Education Loans for Abroad Studies
| Features | US banks | Indian public banks | Indian private banks | Indian NBFCs | International lenders |
|---|---|---|---|---|---|
|
Example Lenders
|
Sallie Mae
Earnest
Union Federal
Abe |
SBI Bank of Baroda UBI |
Axis Bank ICICI Bank |
Credila Auxilo |
MPOWER Financing Prodigy Finance |
|
Maximum loan amount |
15,000 – 220,000 USD (INR 12.5 Lakh – 1.8 Cr Approx.) |
Up to INR 1.5 Cr |
Up to INR 60 Lakh – 1 Cr Approx. |
Up to INR 40 – 60 Lakh Approx. |
100,000 USD (INR 83 Lakh Approx.) |
|
Loan Type |
Unsecured |
Secured & Unsecured |
Secured & Unsecured |
Unsecured |
Unsecured |
|
Interest rates |
5.8% – 15.9% APR (variable rates for graduates) |
9.5% – 10% |
10.28% – 12.5% |
10.5% – 13.5% |
11% – 20% APR
|
|
Processing fee |
00 |
INR 10,000 |
1% of the loan amount |
1% of the loan amount |
5% of the loan amount
|
|
Repayment tenure |
Up to 15 years |
Up to 15 years |
Up to 15 years |
Up to 15 years |
Up to 10 – 20 years |
|
Grace period |
9 months |
6 – 12 months |
6 – 12 months |
6 – 12 months |
6 months |
|
Co-borrower requirement |
A US citizen or a permanent US resident is required as the financial co-borrower |
No financial co-borrower is mandatory for secured loans |
A financial co-borrower with sufficient income is required |
A financial co-borrower with sufficient income is required |
No co-borrower is required
|
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What Documents Are Required for the Loan Eligibility Checker?
To check your loan eligibility, you will need :
- 1. Personal Details: Name, contact number, email.
- 2. Academic Records: Admission letter, previous qualifications.
- 3. Financial Information: Income proof, salary slips, or IT returns.
- 4. Co-Applicant Details: PAN card, Aadhaar, income proof (if applicable).
- 5. Collateral Details: Property papers (if applying for secured loans).
Frequently Asked Questions (FAQs)
How long does it take to check my loan eligibility?
You can check your eligibility instantly within 2-3 minutes.
Does checking loan eligibility affect my credit score?
No, our eligibility checker performs a soft inquiry, which doesn’t impact your score.
Can I apply for a loan without collateral?
Yes, Study Bank offers collateral-free loans based on eligibility.
How accurate is the eligibility checker?
The tool uses real-time lender criteria, making it highly accurate.