Overview Summary
Eduvertex provides Education Loan assistance to our students at free of cost.
- Indian public/private banks typically require a co-applicant (parent/guardian). Collateral-
free loans are available up to certain limits (₹7.5L–₹50L). - NBFCs offer higher unsecured loan(no collateral required) amounts (₹75L–₹1.25Cr) with flexible underwriting.
- International lenders like Prodigy Finance and MPOWER Financing provide no-cosigner,
no-collateral loans for eligible postgraduate programs. - US cosigner-based loans are mainly for studies in the USA.
Lender Comparison Table
| Lender | Collateral Required | Co-applicant / Cosigner | No-Cosigner, No-Collateral Option | Approx. Unsecured Limit (without collateral) | Notes / Country Coverage |
|---|---|---|---|---|---|
| State Bank of India (SBI) | Yes (for large loans) | Yes (Parent/Guardian) | Partial | Up to ₹50L (Premier Institutes) | Strong for UK, Australia, NZ, EU |
| Bank of Baroda | Yes (for large loans) | Yes | Conditional | Up to ₹40L–₹50L | Good for Europe and Australia |
| Bank of India | Yes (above ₹7.5L) | Yes | Limited | Up to ₹7.5L | Covers most destinations |
| Union Bank of India | Yes (for large loans) | Yes | Conditional | Up to ₹40L (premium universities) | Covers UK, Australia, NZ |
| Punjab National Bank | Yes (above ₹7.5L) | Yes | Conditional | Up to ₹7.5L | Covers UK and EU countries |
| ICICI Bank | Optional (Premier Institute based) | Yes | Yes | Up to ₹1 Cr | Covers all major destinations |
| Axis Bank | Yes | Yes | Conditional | Varies | Good digital process |
| HDFC Credila | Optional | Yes | Yes | Up to ₹75L+ | Focused on foreign education loans |
| Avanse | Optional | Yes | Yes | Up to ₹1.25 Cr | Excellent for top-tier institutions |
| InCred | Optional | Yes | Yes | Up to ₹1 Cr | Fast approvals; flexible loans |
| Auxilo | Optional | Yes | Yes | Custom | Flexible; tuition + living coverage |
| Tata Capital | Optional | Yes | Yes | Up to ₹85L unsecured | Covers multiple destinations |
| Poonawalla Fincorp | Optional | Yes | Yes | Up to ₹1 Cr | Competitive rates |
| EdGro | Optional | Case-based | Yes | Custom | Newer lender; tailored funding |
| Prodigy Finance | No | No | Yes | Up to $220K | Covers UK, EU, Australia, NZ |
| MPOWER Financing | No | No | Yes | Up to $100K+ | Covers US, Canada, expanding globally |
| US Cosigner Loans | No | Yes (US Citizen/PR) | No | Varies | For USA-bound students only |