University of Manchester
United Kingdom
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| Interest Rate | Starts at 11.00% |
| Loan Amount (Collateral) | Upto ₹200 Lac |
| Loan Amount (Without Collateral) | Upto ₹85 Lac |
| Processing Fees | starts 1% |
| Processing Time | 3 working days |
| Loan Tenure | up to 13 years |
| Margin | 100% Funding |
| Prepayment Charges | Zero |
| Moratorium Period | Course + 1 year |
| Admit Letter | Not Required |
| Tax Benefits | Yes |
| Type | NBFC |
Tata Capital offers an Unsecured Education Loan of up to ₹85 lakhs for studying a master's abroad, as well as a Secured Loan of up to ₹2 Crore. The interest rate starts at 11% and goes up to 13.50%. With flexible repayment options, they provide a loan tenure of 13 years, including a moratorium period.
They have categorised the universities into different categories, such as Platinum, Gold, etc, based on their World Ranking and post-study job opportunities. As the name suggests, the Platinum category is given higher preference over the Gold-category applications in terms of Approval Rate, Interest Rate, and Processing Fees. Alternatively, the students with a GRE score above 315 or a GMAT score above 650 are considered Platinum Category. A GRE Score between 300-315 and a GMAT score between 600-650 is deemed a Gold Category. The category of Loan Application is determined based on either world ranking or Competitive Exam Scores in GRE/GMAT.
| Unsecured Amount | ₹85 Lacs |
|---|---|
| Secured Amount | ₹2 Crore |
| Processing Fee | 1% + GST (negotiable) |
| Interest Rate | starts at 11% |
| Moratorium Period | Course Duration + 1 year |
| Repayment Duration | 13 years including Moratorium Period |
| Acceptable Co-Applicants | Father / Mother / Sister / Brother / Spouse / Maternal Uncle-Aunt / Paternal Uncle-Aunt / Grand-Parents / Parent-in-Law |
| Repayment Methods | Partial Interest, SImple Interest, Full EMI |
They provide a Secured Loan of up to ₹2 Crore for a Bachelor's degree at universities and Colleges Abroad in multiple areas, and have a limit of ₹50 lakhs for an Unsecured Education Loan. They do not provide a Moratorium period for bachelors, so you have to prepare to pay the Full EMI from the first month of disbursal. The CoApplicant must have a good income and enough financial capacity to pay the EMI smoothly each month.
| Unsecured Amount | ₹50 Lacs |
|---|---|
| Secured Amount | ₹2 Crore |
| Processing Fees | 1% + GST (negotiable) |
| Repayment Method | Full EMI / Direct EMI only |
| Tenure | 13 years |
Tata Capital offers an Unsecured Education Loan of up to ₹50 lakhs for aviation programs, such as the Commercial Pilot License (CPL) in foreign countries. However, the upper limit for secured loans is up to ₹2 Crores. According to banking policy, this loan scheme does not have a moratorium period. You are required to pay the Full EMI from the first month onwards. Therefore, it is expected that your CoApplicant will have sufficient funds to cover the EMI each month. They might consider the request for a Moratorium period for Secured Education Loans only. The maximum duration of the Education Loan is 13 years from the date of the first disbursement.
| Unsecured Amount | ₹50 Lacs |
|---|---|
| Secured Amount | ₹2 Crore |
| Processing Fees | 1% + GST (negotiable) |
| Repayment Method | Full EMI / Direct EMI only |
| Tenure | 13 years |
The Tata Capital covers nearly all expenses expected while studying abroad.
Here is the Eligibility Criteria of the Tata Capital Education Loan for the Study Abroad scheme
Here is the list of basic charges involved in Tata Capital Study Abroad Education Loan
| Description | Charges |
|---|---|
| Processing Fees | 1% + GST (negotiable) |
| Life Insurance | ~2% |
| Travel & Health Insurance | ~2% |
| Stamp Duty | Varies |
| Foreclosure Charges | NIL |
| Prepayment Charges | NIL |
| Legal & Technical Charges (Collateral) | ₹5000 |
The Tata Capital charges a processing fee of 1% of the Sanctioned Loan amount. The amount is negotiable. If you did not take the disbursement for any reason, the processing fees are Non-Refundable.
| Description | Charges |
|---|---|
| Study Abroad Education Loan | 1% + GST (negotiable) |
The Bank/NBFC charges the above-mentioned processing fees for processing the application and for the documentation required. At Abroad Cube, we do not charge any Service Fees for assistance with Education Loan processing. The respective Bank/NBFC is paying us for each application.
Connect with our Education Loan Expert and get your application processed within 3-4 working days*
Check Eligibility For FreeWhen applying for an education loan through Abroad Cube, you can expect higher chances of approval as our expert will verify the documents before submission and suggest better alternatives for higher approval.
Using the latest technology and years of experience, we expedite the application process by 65%, reducing overall processing time. Applying using the exact required documents with the eligible lender is the key to getting an application processed in record processing time.
Our Education Loan Expert will send you a Personalized Document Checklist, removing all unnecessary documents, easing the process and giving you peace of mind.
We will help you get Comparable, Negotiated and best-suited Education Loan deals, saving you up to Rs 3 Lakhs. The major negotiable components are Interest Rate and Processing Fees.
We are not charging any service fees for helping with the Study Abroad Education Loan. Also, there are no hidden fees involved, which is guaranteed. For each approval, we get paid a referral fee by Tata Capital without any additional charge to students.
Here is the standard document checklist for getting an education loan from Tata Capital or other lenders. The bank or NBFC might ask for additional documents or information based on the application to ease the process.
The Education Loan documents may vary based on individual applications. If you are missing any required documents, please contact our Loan Expert for help!
Start by checking your eligibility on Abroad Cube's website or reach out to us via WhatsApp or phone. The Eligibility criteria include Country acceptance, University and course ranking, Academics, Credit Score and history, co-applicant and Collateral requirements, etc.
Once you pass the basic Eligibility Criteria, the next step will be Documentation. Our Education Loan Expert will send you a personalized Document Checklist of Tata Capital and help you arrange, sort and suggest alternatives, if any. Before sending documents to the Tata Capital, we ensure that all documents are in order according to the required Checklist to expedite the application login process.
Our Education Loan Expert will choose the best lenders from the pool of 12+ options to get you the best-suited deal. They will follow up with concerned Lender Relationship Managers for Application Login and further processing. The lender process will include getting consent, address verification, and a small telephonic interview with the Credit Manager before the final decision.
The sanction letter will be released within 24 hours once you pay the processing fee to the Bank via acceptable payment methods. Afterwards, you may proceed with the Study Visa process or request Pre-Visa disbursement. You can also ask for reimbursement if you have already paid the Tuition Fees or Living Expenses via other means. Once you complete the banking formalities, the loan amount will be disbursed into the Bank Account
You may apply for Tata Capital Education Loan by visiting their local bank branch or contacting their customer support team. But Abroad Cube will help you get a hassle-free Education Loan from your comfort at the best Interest Rate and record processing time at Zero Service Charges.
Abroad Cube is an Online Study Abroad Marketplace that has onboarded 12+ Banks and NBFCs to ease the process of getting the best deal for an Education Loan in minimal processing time. To get started, Check your Eligibility and share your Documents by Email or WhatsApp to expedite your application process.
Get your Education Loan Eligibility checked within 5 minutes
Sorting, Verifying and Submitting Documents as per Checklist
Submission of application to top lenders from a pool of 12+ options
Get Sanction Letter in record time and proceed for Disbursement
Are you worried about your Eligibility for Study Abroad Consultancy? Enter your basic details and check your eligibility within minutes in more than 10 Banks and NBFCs.
Get Education Loan EMI Repayment analysis, monthly EMI and Amortization Schedule in a single click without worrying about complex formulas and calculations.
Testimonials
University of Manchester
United Kingdom
University of British Columbia
Canada
Monash University
Australia
New York University
United States of America
University of Melbourne
Australia
King’s College London
United Kingdom
Technical University of Munich
Germany
National University of Singapore
Singapore
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