Home Loan and Study-abroad
Education Loan made easy
With Peaceful-Loans, you get the best advice on loans.
Pick from a wide range of options, understand your loan terms, get answers to your burning questions, and get a loan that suits you.
Making life easy for the top 1% of India
We help families and students make an informed choice on “the most cost effective” loan across banks and NBFCs.
Say Goodbye to pushy sales people
Say Goodbye to half-information
Say Goodbye to WhatsApp University
Talk to real experts now!
Advice and execution you can count on.
When you book a call with Peaceful-Loans, you get access to the best education loan experts.
No selling, we side with you
You won’t be talking to pushy salesmen. You’ll only be engaging with exceptional advisors.
Personalised consultation
Good advice takes time. We will understand your problems throughly before solving it. We will do the leg work and jump the bureaucratic and mathematical hurdles to get you intelligently processed options to pick from.
No spam, no identity compromise
Peaceful-Loans comes with a spam-free guarantee. We won’t even allow the lenders to call you without your consent or appointment. We will never call you without your consent.
It’s financially beneficial
Our consultations always in your favour.
We assist top 150 university admits in making informed financial decisions
Students Counselled
Value of Loan Sanctioned
In Countries
From States
What our students say about us
Our 15+ lending partners
Featured in
We were recently covered in an Economic Times article. The article captures insights shared by Mangesh Zope, founder of Peaceful-Loans on education loan market trends.
Meet the Founder
Mangesh Zope
Founder
- Mangesh Zope availed an education loan for his MBA from IIM Calcutta.
- He is IIM Calcutta Alumnus of 2012 Batch.
- Peaceful-Loans is his third venture, having previously created two solid ventures around solving consumer problems.
- He has held various leadership roles in industry leading corporates and fast growing startups.
Frequently Asked Questions (FAQs)
We have our free consultation call with students and their parents to understand their requirements, family’s financial background and student’s academics. We give them a brief about study abroad education loan options in the market. And Most importantly answer any queries they may have from earlier research conducted by them.
A whatsapp group is created where students and their parents can share documents through the group or on email or a document upload link as per students’ convenience. Data is stored in a secured manner and only shared with relevant bankers for loan applications.
Upon receiving the documents, a member of our loan processing team discusses strategy with students. The strategy includes which financial institutes are best suited for the student and timelines.
Peaceful-Loans team helps with operationalising applications with selected financial institutions.
Peaceful-Loans team will follow up regularly regarding loan applications with the lender. Regular updates on their application are shared with the students and their parents.
Once loan offer letter/s come in, our team assesses the information and explains the offers to students and their parents. We guide them to take the best loan suited for their individual needs.
Our team will help in securing sanction letters and disbursements as well once the decision is made on which financial institute to go ahead with.
“You can click here to register for free consultation and our team will guide you towards making the financial aspect of your study abroad dream Peaceful.”
Privacy: Your information is only shared with the financial institutions which are likely to approve your education loan based on our expert understanding.
Guidance: Our loan experts guide the student and their parents from day one on various instances.
Understanding of education loan options
Creating a customised plan of action based on requirement and situation.
Helping with the process.
Regular updates on the progress of loan application.
Comparing and choosing the final loan offers.
Transparency: Our team focuses on an open conversation about the loan process, pros and cons involved and student centric guidance.
“We don't charge students for our service”.
“You can click here to register for free consultation and our team will guide you towards making the financial aspect of your study abroad dream Peaceful.”
- For a non-collateral loan the average time taken to get the sanction letter is 14 working days.
- For collateral based loans the average time taken is 2 months.
Any direct blood related family member is allowed to co-applicant.
Father
Mother
Brother
Sister
Additional co-borrowers possible to strengthen the profile:
Uncles
Other relatives
Friends who are co-borrowers are not entertained by any financial institution.
Introduction:
Should I be taking unsecured or secured education loan for my study abroad? This is a common question students face when they are choosing a loan.
Education loans without collateral / non-collateral loan, often referred to as unsecured education loans in financial institutions' terminology,
They offer several advantages and disadvantages.
Understanding these can help you make an informed decision about your education financing. Let's delve into the details:
Advantages of Unsecured Education Loans:
1. Faster Processing Time:
Unsecured / non-collateral education loan typically boast a quicker processing time, usually around 2-3 weeks.
2. Lower Processing Fees:
Compared to secured / collateral based loan, unsecured / non-collateral education loan generally come with lower processing fees.
3. Inclusive Processing Fees:
Some NBFCs incorporate processing fees into the loan amount itself, making the upfront costs more manageable.
Disadvantages of Unsecured Education Loans:
1. Lower Loan Limits:
Unsecured / non-collateral education often come with lower loan limits, potentially limiting your funding options.
2. Government Bank Restrictions:
Government banks like State Bank of India and Bank of Baroda typically do not offer unsecured education loans exceeding 7.5 lakhs.
An exception is Union Bank of India, providing up to 40 lakhs in unsecured loans at a 9.8% interest rate for the top 150 universities globally.
3. Higher Interest Rate:
Generally, unsecured education loans entail higher interest rates, with a typical difference of about 1%.
While top-quality private banks like IDFC First, Axis Bank, and ICICI Bank offer lower interest rates than secured loans from leading government banks, loans from NBFCs such as HDFC Credila, Avanse, and InCred tend to be more expensive than secured loans.
1. Admission to Top-Tier University and Course:
Securing admission to a renowned university and course is a crucial prerequisite.
2. Strong Academic Background:
Excellent academic performance in 10th, 12th, Graduation, and GRE/IELTS/TOEFL scores enhances your eligibility.
3. Co-Borrower with Healthy Income:
A co-borrower with a higher monthly income and minimal or no existing EMIs strengthens your loan application.
4. High CIBIL Score:
A robust CIBIL score for the co-borrower is essential to secure a favourable unsecured loan.
Unsecured Loan Amounts We've Secured for Our Students:
1. ICICI Bank:
75 lakhs - 1 crore at 10.85% interest rate, with no loan insurance and a processing fee of 30,000 INR + GST.
2. Union Bank of India
Up to 40 lakhs at a 9.8% interest rate, without loan insurance or processing fees.
3. IDFC First Bank:
50 lakhs - 75 lakhs at 10.5% interest rate, with a 1% processing fee and 1-1.5% loan insurance coverage.
4. HDFC Credila:
50 lakhs at 11.5%-12% interest rate, with 0.75%-1% processing fees and 0.5-1% loan insurance.
5. InCred:
62 lakhs at 12-12.7% interest rate, with a 1% processing fee and 1-1.5% loan insurance.
6. Avanse:
25 lakhs at 12% interest rate, accompanied by a 1% processing fee and 1.5% loan insurance.
Seeking Guidance on Education Loan Options?
There are 20+ parameters we assess before advising you on the optimal loan term offer.
We have attempted to simplify the understanding of non-collateral education loan / unsecured education loan for you.
If you're a student who has secured admission to a foreign university and is in search of education loan guidance, feel free to reach out to us in case you want to know more. www.Peaceful-Loan.com or Mangesh@Peaceful-Loan.com
You can also book a free consultation call by clicking here.
You should plan on avg salary out of campus, avg expenditure during job to understand how much EMI you can afford. Take loan amount only upto the EMI which you can afford.
For an education loan, you repay only the amount that you disburse + interest accrued on the same..
For example: If you get a sanction for 40L and use only 10L you will only have to repay 10L + the interest component.
Repayment of the loan is done as per your loan terms.
If you get a moratorium period then you start repaying the loan in instalments post that.
If you are compelled to pay simple or partial simple interest during moratorium, You might have to start paying interest component from month 1 of disbursement and then pay the overall emi post your moratorium period is completed.
You can also work part time during your education and start repaying early.
There are no foreclosure charges for education loans: so you can repay the loan earlier than tenure without worrying about additional charges.
Lending institutions in India are divided into 4 main categories: Public Sector banks, Private Sector banks, Non Banking Financial Institutions (NBFCs) and Non INR lenders.
Public Sector banks:
Public banks are great if you are going for a collateral based loan
They do not allow for non-collateral loans above INR. 7.5L
They are highly trusted by Indians to keep their collateral safe.
Key education loan schemes from Public Sector Banks
SBI State Bank of India education loan for abroad studies - https://sbi.co.in/web/student-platform/sbi-global-ed-vantage-scheme
Bank of Baroda BOB education loan
Punjab National Bank PNB education loan
UBI Union Bank of India education loan
Private banks
Private banks are better if you want a non-collateral loan
They don’t have a limit on the loan amount they can provide as a non collateral loan.
The interest rates are good and in many cases similar to public banks.
ICICI Bank ranks high in trust factor and is the largest private bank in India that provides education loans.
NBFCs
NBFCs in India provide collateral as well as non-collateral loan.
HDFC Credila is the highly trusted and the largest student loan NBFC in India. It is trusted due to being the first education loan NBFC as well as their association with HDFC Bank.
NBFC in general are preferred when students are short on time as the processing time generally is the lowest.
The interest rate may be higher than public and private as NBFCs aren't restricted under repo rates decided by RBI Reserve Bank of India
Loan amount that you can get is dependant on many factors, some of them include:
Country, University / College, Course that you are applying for.
Applicants’ current income (if your work experience exceeds 2 years)
Applicants’ past academic records.
Co-applicants financials and credit history.
Property / FD Valuation (If its a collateral based loan)
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