{"id":3787,"date":"2023-08-28T13:22:22","date_gmt":"2023-08-28T13:22:22","guid":{"rendered":"\/blog\/?p=3787"},"modified":"2024-02-14T14:53:51","modified_gmt":"2024-02-14T09:23:51","slug":"can-you-take-a-study-loan-without-collateral","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-education\/can-you-take-a-study-loan-without-collateral\/","title":{"rendered":"Can you Take a Study Loan without Collateral"},"content":{"rendered":"\n<p>Want to pursue your professional course in your dream university, but\nwondering how will you fund it? Worry not! Opt for an education loan. Yes,\neducation loans are designed by keeping aspiring students like you so that you\nreceive the much needed financial support at the right time. Education loans\ncan be availed to pursue higher professional or technical education such as\nmedicine, engineering, management and the like, in India and abroad. Generally,\neducation loan will cover your college tuition fees, exam and library fees,\nbooks and course-specific equipment including computer, accommodation charges,\ntravelling expense if you have opted for a foreign university, along with other\ncourse-related expenses. It indeed provides the basic financial assistance\nrequired by students.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/education-loan.html\">Know More About Education Loan<\/a><\/div>\n\n\n\n<p>Alike other loans, an study loan is also tagged with eligibility\ncriterions, submission of mandatory documents, interest rate, loan tenure, the\nquantum of loan, loan security, and tax benefits. Among all, loan security is\nsomething that most students are caught unaware of. So, let\u2019s take a quick look\nat this specific aspect of an education loan. According to RBI guidelines, you\ncan avail a maximum of Rs.10 lakhs as a loan if you are opting for an Indian\nUniversity, and a maximum of Rs. 20 lakhs if you are availing the loan for studying\nabroad. These guidelines also put forth the condition of loan security or\nrequirement of collateral. If the quantum of your loan is within Rs. 4-lakh,\nthen you can avail the loan without any security or collateral. But, if the\nloan amount exceeds R. 4-lakh, then you will have to provide collateral and a\nthird party guarantee to the bank which in most cases is the parents of the\nstudent. A security or collateral is nothing but a risk mitigating step taken\nby banks to avoid loss in an untoward situation. But, in rare and special\ncases, banks do try to bend their rules for extraordinary and highly\nmeritorious students by exceeding his or her limit of education loan without\ncollateral. Most banks follow the Rs. 4-lakh slab to decide the requirement of\ncollateral. However, there are a couple of banks which offer education loan\nwithout security for a higher loan amount ranging within Rs. 5-lakh to Rs.\n7.5-lakh. So, if you are facing difficulty in arranging for collateral then you\ncan always look for banks that have higher loan limit without collateral. <\/p>\n\n\n\n<p>On the other hand, if you are a working professional wanting to pursue higher education then you also have the option of availing a <a title=\"Personal Loan\" href=\"https:\/\/tata-blog.osian.dev\/personal-loan.html\">personal loan<\/a> for education.In addition, personal loans do not require any collateral, guarantor or security. In this way, you neither need to take a separate education loan nor need to worry about arranging for collateral.<\/p>\n\n\n\n<p>Well, if the required <a href=\"https:\/\/tata-blog.osian.dev\/education-loan.html\">education loan<\/a> amount falls within the collateral free slab or if you have a personal loan, then you can fund your higher education without having to worry about any kind of security. So, bear in mind, availing a security-free education loan is certainly possible. <\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/online\/loans\/personal-loans\/apply-now-personal-loan#!\">Apply Now<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Education, especially higher education, being a costly affair in present scenario, is pursued by many by taking loans.  <\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/education-loan\/can-you-take-a-study-loan-without-collateral\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":3791,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[28],"tags":[],"class_list":["post-3787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-education"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is It Possible to Get an Education Loan without Security? - Tata Capital<\/title>\n<meta name=\"description\" content=\"Higher studies require a great amount of money. Opting for an education loan helps take off the financial burden for studies. However is it possible to take a study loan without a collateral? Tata Capital answers.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is It Possible to Get an Education Loan without Security? - Tata Capital\" \/>\n<meta property=\"og:description\" content=\"Higher studies require a great amount of money. Opting for an education loan helps take off the financial burden for studies. However is it possible to take a study loan without a collateral? Tata Capital answers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/loan-for-education\/can-you-take-a-study-loan-without-collateral\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-28T13:22:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-14T09:23:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/01\/taking-a-study-loan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-education\/can-you-take-a-study-loan-without-collateral\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-education\/can-you-take-a-study-loan-without-collateral\/\",\"name\":\"Is It Possible to Get an Education Loan without Security? - Tata Capital\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2023-08-28T13:22:22+00:00\",\"dateModified\":\"2024-02-14T09:23:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"Higher studies require a great amount of money. 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