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Gold, Education & Business Finance

Education Loan for Studying Abroad: Collateral vs Non-Collateral Financing

Get A Loan Editorial Team 22/9/2026

Pursuing higher education at premier global universities requires substantial funding for tuition fees, accommodation, and living expenses.

1. Secured Education Loans (With Collateral)

Secured against residential property, commercial land, or fixed deposits. Offers lowest interest rates (8.5% to 9.5%), loan amounts up to ₹1.5 Crore, and longer repayment tenures up to 15 years.

2. Unsecured Education Loans (Without Collateral)

Approved based on the student's academic profile, GRE/GMAT/IELTS scores, and university ranking. Loan limits typically range between ₹25 Lakh to ₹50 Lakh at 10.5% to 13.5% interest.

Calculate your education loan EMIs with our Education Loan Calculator.

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Frequently Asked Questions (FAQ)

Common questions about EMI and loan calculations

What is EMI and how is it calculated?

EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month using the standard reducing-balance EMI formula.

Does loan prepayment really save interest?

Yes! Prepaying your loan directly reduces your outstanding principal balance, which exponentially lowers the interest calculated for remaining months.

What is FOIR in Loan Eligibility?

FOIR stands for Fixed Obligation to Income Ratio. Most banks limit your total EMIs to 50%-60% of your net monthly income.

Are the calculation results guaranteed by banks?

Calculations on Get A Loan are accurate estimates based on standard mathematical formulas. Actual bank quotes may vary slightly due to processing fees, taxes, or credit score ratings.