Clear all your doubts about secured overseas education loan and know what are the requirements to apply for an overseas education loan.

1. FAQs about
Secured
Overseas
Education Loans

2. An insight about secured overseas education
loan is given as many countries prefer secured
loan as compared to unsecured loan. Again, it
all depends upon the type of course, the
duration of course, University and country.

3. Any one of the following assists must be
the collateral:
Moveable Collateral – Fixed Deposit,
LIC Policies, Govt. Bonds, Postal
deposits etc.
Immoveable Collateral – Independent
house, apartment, a bungalow, shop or
open plot.
Types of Collateral
that can be offered?

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Why collateral is
required when my co-
borrower has a very
good income?
The risk involved in the credit is mitigated by the
Collateral. The future of the student is not
forecasted as the students has not started
earning yet, hence the collateral. The
collateral enables the students to get a
better interest rates on overseas education
loan, thus it entirely depends on the
students and parents to show the required
collateral.

5. What if a student has
no support system or
surety?
As explained earlier, we do give weightage
to the student's past academic track
record, entrance test scores, future
school, institute, university's reputation
and employability.

6. No, you cannot take loan against
the same property in a
different bank. But there are 2
options available. You can either transfer the existing
loan to the new desired bank
and also apply for education
loan
Or else you can take up a Top Up
Loan in the existing bank itself.
My collateral is mortgaged with another bank and
is of a high value. Can I give the same property as
collateral?

7. Our Address: 'Krishna’, Plot No. 10/2, I.T.
Park, Opp. V.N.I.T, Behind Infotech
Tower, Parsodi Nagpur, Maharashtra,
India- 440022
Email: info@elanloans.com
Contact No: +91 74477 57842
Visit here: www.elanloans.com