GoStudyLoans has partnered with multiple banks and NBFCs in India for a seamless education loan process. With Education Loans For MBA In The UK through GoStudy, you can give your dreams spread wings and let your career reach the summit. GoStudyLoans education loans through banks can cover 100% of your expenses and have better interest rates. Education will never be hampered when schemes such as Education Loans For MBA In The UK through GoStudy are exclusively crafted to fit your needs.
GoStudyLoans evaluates your eligibility to offer the best education loan for MBA in the UK.
GoStudyLoans has enlisted some of the top-rated UK universities offering quality education to Indian students.
At GoStudyLoans, you just need to go through a simple and quick processing system that helps you avoid delays.
Without any legal formalities, GoStudyLoans can allow you to get quick loan approvals and let you start your dream study in the UK.
GoStudyLoans offers you the chance to get a sanction of your education loan simply based on your KYC!
GoStudyLoans provides Indian students with affordable rates of interest for an education loan in India for MBA in the UK.
At GoStudyLoans, students can get the right guidance from our experts about your academic profile, selection of the university, or financial aid.
GoStudyLoans offers a reduced rate of interest for an education loan for MBA in the UK for Indian students.
GoStudyLoans offers a quick processing system for approving an education loan for any MBA program in the United Kingdom.
When you are on the path to setting your career in motion, just getting an acceptance offer from your dream UK University is not enough. Even before the tedious application procedure of submitting documentation, test scores, and the eagerness to get an acceptance, comes the real deal of managing funds for MBA study in the UK. Of course, brilliant students can be eligible for scholarships and grants, but what can an average student do? This is where the role of an education loan in India for MBA in the UK through GoStudy comes in. No need to worry at all; GoStudyLoans has a plethora of educational loan options for both brilliant and average students. Many Indians are switching to the UK as their favorite study destination because of its education system and the best faculty in their colleges or universities. However, the fee structure comes along with other expenses as the cost of living is not affordable.
To get funds for everything you need, educational loans can support your dreams. From offering a large amount of financial assistance to the lowest interest rate and flexible repayment period, several banks and financial centers compete with each other to give aspirants the smoothest experience in achieving their dreams. Financial institutions have different education loan offerings for Indian students. Two types of education loans are available in the funding market:
At GoStudyLoans, there are flexible and unique educational loans at a lower rate of interest we can provide. With our superlative knowledge and experience, getting the best education loan for MBA in the UK through GoStudy is easier and quicker.
The interest rate also differs based on a public bank, a private bank, or any NBFC. For Collateral-based educational loans,
Generally, in a secured education loan for MBA in UK for Indian students through GoStudy, you can avail up to 1.5 crores in a public bank, up to 50 lacs in private banks depending on collateral value and co-applicants salary, and up to 50 lacs in NBFCs.
If we talk about collateral-free educational loans for pursuing MBA in the United Kingdom, the interest rates for public and private banks, as well as NBFCs are higher than a collateral-based loan. Generally, it is around 13.5% to 16%, depending on the funding partner. In India, many funding partners are available in every corner, helping aspirants for higher studies to make the best pathways for them.
The table listed below gives you an idea of the interest rates charged by different funding institutions with the interest rates offered by GoStudyLoans. One can compare these rates and choose the best option for an education loan in India for MBA in UK through GoStudyLoans.
Type of Education Loan
Education Loan Rate of Interest As Per Market
Education Loan Rate of Interest Through GoStudy
|Secured Education Loan (USA)||9.5%||9.25%|
|Unsecured Education Loan (USA)||10.25%||10.00%|
|Secured Education Loan (Others)||9.5%||9.5%|
|Unsecured Education Loan (Others)||11.75%||11.00%|
Using this formula, you can determine the amount of money you need to pay in terms of EMI once your repayment period starts based on the funding partner you choose. Here is the formula to calculate EMI:
EMI = [Principal Amount x Rate of Interest x (1 + Rate of Interest) ^Tenure in number of months] / [(1 + Rate of Interest) ^Tenure in number of months* - 1]
Make sure you have complete clarity of how much funds are required when it comes to studying MBA in the UK. The education loan for MBA in UK for Indian students through GoStudy covers almost all kinds of expenses during the course. For international students, the cost of studying MBA has been divided into 3 stages. These are mentioned below:
Speaking of the pre-arrival cost of studying MBA in the UK includes fees that an applicant needs to pay for a study visa, standardized tests, health insurance, laptop expenses, English language proficiency tests, travel insurance, and many other miscellaneous charges. The overall pre-arrival cost of studying MBA in the UK can be up to GBP 1900.
When it comes to tuition fees, these are charged by UK universities or colleges to let students study in their respective educational centers. This fee includes the enrolment fees, registration fees, and exam fees. The average fee ranges between GBP 23,800 to GBP 28,570. The tuition fees may vary from university to university, and many other factors.
The cost of living includes transportation, accommodation, utilities, meals, and other household expenses. The average cost of living in the UK is approximately GBP 1334 for up to 9 months.
This is how, at GoStudyLoans, you can get the best education loan for MBA in UK through GoStudy, depending on the tuition fees and other expenses after the selection of the university. Educational loans almost cover all kinds of expenses. Some financial institutions that offer educational loans for MBA courses in the UK are mentioned below:
Things covered under Education Loan through GoStudy
Costs Covered by Education Loan through GoStudy
|Tuition Fees||0 - 65 Lakhs (Approx)|
|Living Cost||6 Lakhs - 15 Lakhs (Approx)|
|Travel Expenses||20,000 - 40,000 Rupees (Approx)|
|Others (Books/Uniforms/Computers)||80,000 - 1,50,000 Rupees (Approx)|
Indian candidates applying for an education loan in India for MBA in UK through GoStudy have the option of getting two types of loans. The first option is a secured loan or loan with security and the second one is an unsecured loan or educational loan without security/collateral. It depends on a student’s profile whether he/she is eligible for a collateral-based or collateral-free loan. To find out this eligibility, there are many factors to keep into account.
Talking about a secured education loan, is a loan where an applicant needs to link the collateral while applying. Collateral can be in any form, such as tangible or intangible assets, including FDs, immovable property, etc. on the other hand, an unsecured education loan for MBA in UK through GoStudy or a loan with no collateral does not demand the attachment of any collateral while submitting the application for a loan.
There are some differences between a collateral and a collateral-free education loan. Collateral educational loans have a lower rate of interest because lenders have some sort of security in terms of collateral. But lenders offer a longer repayment period for secured educational loans. On the other hand, collateral-free educational loans for studying MBA in the UK demand a higher rate of interest because lenders do not have any kind of security. To cope with the recovery, they charge a higher rate of interest and a shorter repayment period. The period of repayment, interest rate, and other eligibility criteria may change from one financial institution to another. To avail the best education loan for MBA in UK through GoStudy, GoStudyLoans can help you understand every educational loan option in detail. Then, you can choose whatever is needed to make your dreams turn into a reality.
Below listed are some documents you need to submit to the bank to apply for an education loan for MBA in the UK without collateral through GoStudyLoans:
GoStudyLoans is known to offer the best-secured education loans to meritorious students. Collateral is a form of security that you need to pledge to the lending institution against the loan amount. In certain cases where your financial portfolio is not strong or is a bit on the weaker side, collateral is required to approve the loan.
The list of accepted documents for the education loan is mentioned below:
A huge number of Indian students prefer overseas study for higher or post-graduate studies like MBA, and UK is on the top number in the list. It is home to most of the leading and top-rated universities of the world, offering unique MBA courses. These universities have many interesting perks to offer. The education system in the UK offers specialization courses in almost all areas of study and provides a hands-on learning experience to students. Unique MBA courses provided by universities in the UK are internationally accepted. After getting an MBA degree from any recognized university in the UK, anyone can secure a great employment opportunity in any part of the world. And the most interesting thing is once you get the best education loan for MBA in UK through GoStudy, the countdown to securing a bright future in the UK starts.
Here is the list of some UK universities offering MBA courses with some pre-approved loans:
List of Universities accepted by unsecured Education Loan for MBA in the UK through GoStudy
GoStudy’s unsecured Pre Approved Education Loan Amount for MBA in the UK Through GoStudy
|Imperial College London||40 Lakhs (Approx)|
|University of Southampton||40 Lakhs (Approx)|
|University of Birmingham||40 Lakhs (Approx)|
|University of Manchester||40 Lakhs (Approx)|
Sanctioning the education loan for MBA in UK for Indian students through GoStudy is not a cup of tea. It involves responsibility as well if you want to reap its benefits. This is why parents or guardians or other co-applicants must take responsibility. When it comes to getting a collateral-free education loan, a co-applicant plays a very important role. It is an additional requirement that an applicant needs to fulfill. A co-applicant can be a father/mother or guardian, paternal/maternal uncle/aunt, or spouse.
NBFCs consider the income of a co-applicant even if it is less than INR 20K. For loans amounting to INR 20 Lakhs, the salary of a co-applicant should be INR 60K per month. Keep in mind that the income requirement and documentation may vary from profile to profile. Documents of co-applicants are also needed to submit to a funding partner.
If you meet the eligibility criteria, then only any overseas education partner can help you to get an education loan in India for MBA in UK through GoStudy without any hassles. GoStudyLoans considers the evaluation of your eligibility criteria at first before proceeding further. The eligibility criteria are common for all banks, and exceptions can be there. Here is the basic checklist a candidate needs to meet when it comes to the eligibility conditions:
The exact list of documentation needed may differ according to the lender and a student’s profile. At GoStudyLoans, we provide the exact info regarding what is required to be submitted. When you are applying for an education loan for MBA in UK through GoStudy with collateral, the documents are needed such as:
It is interesting to know that the process of applying for an education loan for MBA in UK for Indian students through GoStudy is very simple and quick. If you are ready with your documents, then you just need to contact GoStudyLoans. If you can do it on your own, then it will be the best for you. Once you are clear with all the formalities, you can start the process, which is as follows:
The processing time a financial institution can take is 8 to 10 days. Once your loan application is reviewed, a funding institution will take the necessary steps to sanction the loan. Once you meet all the terms and conditions, then the education loan amount will be approved for you and credited to your bank account. For a smooth and hassle-free loan application process, GoStudyLoans can be the best option.
Make sure to follow all the terms and conditions for loan sanction and disbursement. After sanctioning the loan amount, it will be transferred to the UK University. The disbursement method for the best education loan for MBA in the UK through GoStudy may change according to the university. You need to sign the sanction and disbursement letter; only then the funds are transferred. It generally takes 120 to 180 days. With GoStudyLoans, there is no chance of any delay in the loan sanction and disbursement to the candidate.
At GoStudyLoans, students can make sure they know everything related to the repayment process before getting an education loan for MBA in the UK for Indian students through GoStudy. During the moratorium period, you can sit back and relax. The moratorium period is considered a relaxation period. Once you complete your MBA or when you get a job, the repayment period commences. It is generally one year or 6 months.
The repayment period is usually 10 years but can be changed according to the funding partner you have. There are different repayment methods followed by different funding institutions with the applicable rate of interest.
The various categories of repayment options for Education Loan for studying MBA in the UK:
Are you going to take an education loan in India for MBA in UK through GoStudy? Then, there is the most interesting thing to know. You will also receive tax benefits once you complete your studies. If you stay committed to paying EMIs on time, you get a tax benefit under Section 80E of the IT Act. You can claim a deduction. You will be eligible to get a tax benefit if you pay everything on time. Only the interest rate will be credited to you. Co-applicants can also apply for this tax benefit. This claim can be eligible only if you get an education loan from a known financial institution or government bank in India. It can be claimed after you complete your education and the repayment period.
GoStudyLoans aids Indian students in getting their dreams of studying abroad completed in just a few simple steps. We have spread our expert teams throughout India. So, take our guidance!
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