Which CIBIL score is good for education?

650 and above
provide secured education loans to loan applicants who have a CIBIL score of 650 and above. To get an abroad education loan from SBI which is one of the most prominent government banks functioning in India, it is mandatory for loan applicants as well as their co-applicants to have a CIBIL score of 650 and above.

Can I get loan if my CIBIL score is 700?

Most lenders consider a score of 750 and above as an excellent credit score for availing of hassle-free loans. A credit score of 700 falls in the next category which signifies that lenders consider you a moderate risk category for approving potential loans.

What happens if I Cannot pay my education loan?

If you are unable to make repayment on your education loan, then you will receive notices and warnings from the lender. If you fail to comply with the same, then the lender is legally entitled to the assets you mortgaged. Your property or asset can be auctioned or used by the lender.

What is the basic education loan eligibility?

Find Education Loan interest rate here. Since these loans are offered to brilliant students who are unable to meet the expenses of their higher education, the basic education loan eligibility is the academic excellence and achievements of the students.

How much student loan can I get without collateral in India?

Public banks – Public banks like SBI, BOB, etc according to their policies can only provide up to 7.5 lakhs student loan without collateral irrespective of the course and country. But for some top-tier institutes in India, you can avail up to 40 lakhs of unsecured education loans from SBI.

Can I get education loan from other banks besides SBI?

Yes you can education loan from any other banks if you have eligibility and drawing decent income as the bank wants to look at salary and also not to take the risk on you as you have taken one personal loan. You can try on other banks for education loans. For more information on personal loan get in touch.

Can I get a small loan of 40 lakhs in India?

Nationalised banks, such as SBI, provide loans for huge sums only with proper security (collateral). So, one can opt for NBFCs (Non banking Financial Companies), such as HDFC Credila, Axis (I had a bad experience with this one), etc, which do provide loans of just about 40 lakhs, provided you meet their terms. In short, the answer is YES.