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    International Student Education Loan

    Education loan or Student loan is a category of loans given specifically to students who wish to pursue a course or a degree in their native country or abroad. Student loans can be both “Secured as well as Unsecured”. A Secured loan is the one where the lender offers loan against any collateral such as land, property or fixed deposits. Unsecured loans on the, other hand, are given without collateral. Such loans are given based on the creditworthiness of the borrower.

    Student Cover Education Loans

    "Easy To Apply, Easier To Get"

    Secured & Unsecured Loan

    Secured Loan

    • Low Rate Of Interest
    • Lower Emi
    • Need Property
    • Risk Of Losing Property In Case Of Default
    • Rigid Loan Repayment Conditions
    • Need Co-Applicants For Id Proof Only
    • Lengthy Loan Approval Process

    Unsecured Loan

    • Higher Rate Of Interest
    • Higher Emi
    • Need Only Stable Income
    • No Such Risk
    • Flexible Loan Repayment Options Available
    • Need Co-Applicants As Financial Guarantors
    • Quick Loan Approval

    Education Loan Schemes

    The rate of interest (ROI) charged on secured loans is around 8-10% per annum. The volume of loan depends on the value of the items shown by borrower as collateral. In case of unsecured loans, commercial banks can lend only up to Rs. 7 lakhs as unsecured loans whereas NBFCs can lend up to Rs. 65 lakhs. The ROI charged on unsecured loans range from 11-15%. Student Cover provides unsecured education loan to students and at most affordable prices. Some of Student Cover’s Education Loan schemes are as follows:

    SC MARVEL SC EXCEL SC CROWN SC BEAT
    65 Lacs ENGG. 75 Lacs MBA 40 Lacs 30 Lacs 25 Lacs
    Country USA USA USA USA
    STEM/NON-STEM STEM STEM STEM non-STEM
    GRE Above 310 305+ 290+ N/A
    CIBIL 650+ 700+ 700+ 650+
    Co-Applicant Salary ₹ 10,000** ₹ 40,000 ₹ 40,000 ₹ 75,000
    ROI 11% Onwards 11.25% Onwards 12.5% Onwards 13% to 14%
    Loan tenure 10 years 10 years 10 years 7 years
    Processing Fees on loan amount 0.90% + 18%GST 1% + 18%GST 1% + 18%GST 1% + 18%GST
    Repayment Mode # PSI – ₹ 2k or ₹5k # Simple Interest # EMI # PSI – ₹ 2k or ₹5k # Simple Interest # EMI # PSI – ₹ 2k or ₹5k # Simple Interest # EMI # EMI # Simple Interest
    * Rest of the world include: United Kingdom, Australia, Germany, Ireland, New Zealand, Singapore
    ** Criteria may vary according to the co-applicant's job profile
    Note: The above table exhibits only the Unsecured Education Loan Options
    SC MARVEL SC EXCEL SC CROWN SC BEAT
    20-25 Lacs 15-20 Lacs $50k 25 Lacs
    Country Canada Canada Canada(Only Universities) Canada
    STEM/non-STEM STEM STEM STEM non-STEM
    CIBIL 650+ 700+ 700+ 650+
    Co-Applicant Salary ₹ 30,000 ₹ 40,000 ₹ 40,000 ₹ 75,000
    ROI 11.75% Onwards 12.25% Onwards 11.99% (Added in the Loan Amount) 13% to 14%
    Loan tenure 10 years 10 years 10 years 7 years
    Processing Fees on loan amount 0.90% + 18%GST 1% + 18%GST 1% + 18%GST 1% + 18%GST
    Repayment Mode # Simple Interest # EMI # Simple Interest # EMI # Simple Interest # EMI # EMI
    * Rest of the world include: United Kingdom, Australia, Germany, Ireland, New Zealand, Singapore
    Note: The above table exhibits only the Unsecured Education Loan Options
    SC MARVEL SC BEAT
    20-25 Lacs 25 Lacs
    STEM/non-STEM STEM non-STEM
    CIBIL 750+ 650+
    Co-Applicant Salary ₹ 55,000 ₹ 75,000
    ROI 11% Onwards 13% to 14%
    Loan tenure 10 years 7 years
    Processing Fees on loan amount 1% + 18%GST 1% + 18%GST
    Repayment Mode # Simple Interest # EMI # EMI
    * Rest of the world include: United Kingdom, Australia, Germany, Ireland, Singapore
    Note: The above table exhibits only the Unsecured Education Loan Options
    01

    Contact student cover

    02

    Profile entry & eligibility

    • Profile entry of client
    • Eligibility assesment for education loan
    • (if student is found legible, student cover will contact the lender bank/financial company and revert back to the client)
    03

    Documentation

    • Student cover loan agent will collect loan documents from the client.
    • (if the client is located outside delhi ncr, then it will be collected by official from the bank within 48 hours)
    04

    Approval & negotiation

    • Profile entry of client
    • Within 7 working days, student cover will update the client with approval/rejection information from the lender.
    • If the client wants to negotiate roi, it can submit request for negotiation with student cover.
    • (student cover will revert back with lender's final offer in 2 working days)
    05

    Processing fee & sanction letter

    • On acceptance of the offer, the client will have to deposit the processing fee in the lender bank's account either through cheque or online transfer.
    • On receipt of processing fee, bank will send the loan sanction letter within 48 hrs.

    Our Partners In Education Loans

    In order to provide the education loan to students and at most affordable rates, Student Cover has partnered with leading banks and NBFCs in India. Our broad network of partner institutions ensures that students not only get education loans at best possible rates but quick and hassle-free processing of loan applications. Some of our partner institutions are as follows:

    HDFC CREDILA

    • Leading NBFC. India's 1st dedicated education loan company
    • Envisions building the nation by delivering customized education loans
    • Aims to contribute in nation building by removing financial hurdles for

    INCRED

    • Uses technology & data-science to make lending quick, simple & hassle-free
    • Focuses on serving borrower's unique needs and circumstances
    • Education loans to students going to US, Canada and Ireland for higher studies

    AVANSE

    • Education focused, diversified, customer-centric NBFC.
    • Offers flexible and tailored financial solutions to Indian students.
    • Provides customized and affordable education loans to students going abroad for higher studies.

    AXIS BANK

    • Leading commercial bank providing education loan for higher studies abroad.
    • Education loans to students pursuing degree in medicine, engineering, management etc. in foreign universities
    • Loans for graduate and post graduate courses in US, Canada, Ireland.

    BANK OF BARODA

    • Leading Public Sector Bank of India
    • Multi-national corporation providing both secured and unsecured loans.
    • Provides affordable education loans to students going abroad for higher education.

    MPOWER FINANCING

    • Leading Providers of Student Financing for Global Citizens
    • Expertise in Study loan for United States and Canada
    • Provides Study loan without a cosigner, collateral

    Student Cover is your one-stop shop for education loans for higher studies abroad. We are committed to providing quality service to our clients and always strive to ensure that students are always “At Financial and Mental Peace with STUDENT COVER.” *Conditions Apply

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