Education Loan for Masters in Canada Without Collateral Through GoStudy

Kickstart a wonderful career in Canada with the aid of an Education loan for Masters in Canada without collateral through GoStudy.

Are you looking for the best education loans for MS in Canada without collateral to fund your dreams? Look no further than a GoStudy partnered non-collateral education loan for Masters in Canada. Our professionals ensure the process for non-collateral education loans for Masters in Canada through GoStudy is hassle-free. With offices in Coimbatore, Pune, Mumbai, Hyderabad, Chennai, Trivandrum, Cochin, and Delhi, GoStudy is always there for you.


9

Factors That Get You An Education Loan Without Collateral for Masters in Canada through GoStudy

1

Streamlined & Impeccable Academic Credentials

Academic credentials play a crucial role in getting admission at the top universities, so make sure to secure higher academic marks.

2

University Selection

To avail of the most lucrative offers on education loan for Masters in Canada without collateral through GoStudy, select the best universities!

3

Opportunistic Academic Courses

To get you the best employment opportunities, GoStudy has collaborated with the best and popular academic courses.

4

Never-Ending Opportunities in Canada

The huge prospects of career opportunities in Canada makes it important for you to secure a non-collateral education loan for MS in Canada through GoStudy.

5

No Income-Proof Required

GoStudy can offer you impeccable Non-Collateral Education Loans for MS in Canada simply based on KYC.

6

Prompt Sanction & Disbursal

An education loan for masters in Canada without collateral through GoStudy is prompt in disbursal and goes through a faster process.

7

Diverse Education Loans

Based on your financial credentials and profile, GoStudy helps you secure diverse ranges of education loans without collateral.

8

Talented Team

GoStudy consultants are highly skilled and professional advisors with years of experience to help you with everything.

9

Cheapest Interest Rates

GoStudy with the aid of its trusted financial partners are able to offer the cheapest interest rates less than 0.5% to 1% than others.


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Unsecured Education Loan for Masters in Canada Without Collateral through GoStudy

Given the growing number of students who desire to attend their favourite colleges throughout the world while studying abroad, student loans are one of the most essential components of education today. One of the best choices students can make to improve their future prospects is to take out student loans, such as education loans for Masters in Canada without collateral through GoStudy. One of the best destinations for students to pursue their dream occupations and reach the pinnacle of success is Canada, with its limitless opportunities and soaring employment rates.

However, pledging an immovable object as collateral security may be your first thought when applying for student loans. The majority of students lose hope and abandon their aspirations at this point. The good news is that we at GoStudy provide unsecured education loans for Masters in Canada for students. The majority of your costs, including tuition, lodging, transportation, food, and shopping while you're in Canada, are covered by these loans. Choose the best Education Loan Canada for Masters in Without Collateral through GoStudy to fulfil your needs and mould your professional aspirations.

The aforementioned costs are not the only ones you must consider, though. With the right paperwork, you may even be eligible for an education loan for ms in Canada without security through GoStudy, which will cover additional important costs like purchasing electronic devices and books before travelling as well as other travel-related costs to get to Canada.

Education Loan for Masters in Canada Without Collateral
Education Loan for Masters in Canada Without Collateral

Interest Rate For Education Loan To Study Masters in Canada Without Collateral through GoStudy

For each loan sanctioned, monetary lending institutions include an interest rate for the payment of the mortgage. These interest rates tend to be charged by lenders on the real sanctioned Loan amount, against the disbursement of an Education Loan for ms in Canada with no Collateral through GoStudy. The factors mentioned below are some of the factors that will affect the eligibility of your unsecured loan: age, education, co-applicant, credit score, and university. These education loans, with or without collateral, carry an interest rate that is always higher than the interest rate on secured loans in Canada. GoStudy, however, ensures that you get the best possible interest rate on secured loans to help you realize your dream of studying abroad. GoStudy provides you with the best possible answers to all your inquiries concerning Education Loans for masters in Canada Without Security.

The rate of interest for the Non-Collateral Education Loan for masters in Canada through GoStudy is extremely flexible and lower than other loan providers; and can on a regular basis alter or could alter based on your credit rating as well as the system profiling. For these unsecured education loans, the Interest rate is calculated with clear transparency improvising the Simple Interest technique.

Here are the interest rates offered by GoStudy for education loans in Canada without Collateral.

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% 9.25%
Unsecured Education Loan (Others) 11.75% 11.50%

Additionally, the method listed below is utilized to determine the EMI based on the interest rate for an education loan for masters in Canada made possible through GoStudy:

EMI is calculated as [Principal Amount x Interest Rate x (1 + Interest Rate) Tenure*] [(1 + Interest Rate) Tenure* - 1]

*As a reminder, the tenure is determined in months.

What Are The Costs That Are Covered In An Education Loan Without Collateral for MS In Canada through GoStudy?

When you choose an Unsecured Education Loan for Masters in Canada through GoStudy, it addresses all of the required expenses comprehensively when you're in Canada. These costs are namely tuition costs, food, accommodation, travel & various other expenses abroad. Our partner financial institutions make certain all the expenses are looked after, and they serve as your financial friends instead of simply lenders. Below mentioned are the aspects which are discussed for an Education Loan Without Collateral for Canada through GoStudy:

  • Tuition Fee
  • Dwelling Expenses
  • Books
  • Laptops
  • Traveling Tickets
  • Health Insurance
  • Various other Electronic Gadgets
  • Any kind of Application Expenses
  • Competitive Exam Fee
  • Visa Application Charge

An Education Loan Without Collateral for MS in Canada through GoStudy is able to fetch you as much as fifty lacs of INR for admission to the best colleges in Canada. Nevertheless, the quantity of loan sanctioned will rely on the faculty choice, program choice, so the possibility of work after program completion.

Below would be the prospect lists of the Expenses Tackled by Education Loan Without Collateral for Canada through GoStudy:

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)

Education Loan for Masters in Canada Without Collateral Through GoStudy

Non-collateral Education Loan for Masters in Canada through GoStudy conditions may change based on the applicant's profile. But the process is seamless, flawless, quick and convenient, and GoStudy educational professionals will help you to meet all your ends. Here is a list of financial institutions that provide education loans without collateral for Masters through GoStudy in Canada.

  • IDFC First Bank
  • The ICICI Bank
  • Axis Bank
  • HDFC Credila
  • Avanse
  • Auxilo
  • Incred

If you hold an offer letter from a top university in Canada for admission, you are able to make use of GoStudy to get an Unsecured Education Loan for masters in Canada. Additional requirements for an education loan through GoStudy for MS in Canada without security are the chosen course, university of choice and future job prospects after successful completion of the academic course. Based on your financial and academic background, financial institutions may provide you with up to fifty lacs of Unsecured Education Loans for masters in Canada through GoStudy. In the event of a Non-Collateral Education Loan granted through GoStudy for Canada, the creditworthiness of the individual might decide the parameter of disbursal and sanction. The greater your credit score is, the much better the possibilities of sure endorsement of an Education Loan Without Collateral for masters in Canada through GoStudy.

The list of documents below is required by GoStudy to begin a Non-Collateral Education Loan process for Canada.

  • Unconditional / Firm / Confirmed Admission Offer Letter
  • In many cases, a co-applicant Income Proof is not required.
  • PAN Card
  • Academic Documents:
  • IELTS/TOEFL/PTE/English Language Scorecard, if any
  • Appropriate Passport

Collateral for Education Loan for Masters in Canada Through GoStudy

You don't have to deal with the hassles of getting a loan when you make use of GoStudy to get a non-collateral education loan for MS in Canada. Just so you know, the below collateral documents are required in Canada for collateral education loans. Notice carefully.

Any immovable property or asset you keep as a pledge against the mortgage amount disbursed and accepted through the financial lending institution is referred to as collateral. Assets can come in many forms. Collateral loan is also known as secured loan, in which you pledge collateral to secure the loan amount. If you have a poor financial profile and are not eligible for a Canada Education loan through GoStudy because of the Collateral requirement, this is the loan you should consider. If this is the situation in which you're not an eligible candidate for a non collateral education loan for masters in Canada through GoStudy, you might take a look at these accepted collateral documents:

  • House / Flat / Apartment - A private personal home with no dues or existing loan against the property
  • Any other legal private property free from dues or outstanding payments.
  • Fixed Deposit by a recognized NBFC or a nationalized bank accompanied with a note of affirmation from the tail end of the supervisor of the institution working out it in favor of an education loan for masters in Canada with no collateral through GoStudy.
  • LIC surrender value which happens to be comparable to the loan amount which is necessary for sanctioning.
  • A non-agricultural land within legal limits.

University-Wise Pre-Approved Amount For Unsecured Education Loan To Study Masters In Canada through GoStudy

The majority of Indian banks and NBFCs now provide extensive loan programmes for unsecured education loans for masters in Canada through GoStudy because of the increasing demand from students seeking collateral-free education loans. The top 10% of postgraduate institutions are located in Canada, so there are many lenders available to provide you with extensive loan programmes. You won't run out of lenders giving Education Loan To Study Masters In Canada Without Collateral through GoStudy with the staggering numbers of more than 50,000 students approaching Canada each year and that figure also expanding significantly. The universities listed below have had their applications for unsecured student loans to study in Canada through GoStudy pre-approved by the partner banks.

List of Universities accepted Education Loan through GoStudy

GoStudy’s Pre Approved Education Loan Amount by Other Providers

Algoma University 40 Lakhs (Approx)
Dalhousie University 40 Lakhs (Approx)
Acsenda School of Management 40 Lakhs (Approx)
Concordia University 40 Lakhs (Approx)

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Co-applicant for Education Loan for MS in Canada Without Collateral through GoStudy

Keeping a co-applicant is crucial to maximizing your chances of being approved for a GoStudy partnered unsecured education loan to study Masters in Canada. Even if you are wealthy, have a strong financial profile, and have surplus assets, financial institutions will always require a co-applicant. This is done to protect the loan money that has been disbursed because a student who goes to study abroad won't be able to pay back the loan right away and won't have any other income at that point. The primary factors determining a co-loan applicant's eligibility and creditworthiness are their credit score, net worth, source of income, availability of assets, and financial history.

Simply said, a co-applicant's job is to guarantee that the bank loan will be repaid on time in the event that the primary applicant is unable to do so due to unforeseen circumstances.

The list of co-applicants for the GoStudy partnered non-collateral education loan for masters in Canada programme that lenders allow is provided below:

  • Parents's Parents-in-law
  • Spouse's Siblings
  • maternal aunts and uncles
  • Uncles and aunts from mother or father’s side

Eligibility Criteria For Education Loan for Masters in Canada Without Security through GoStudy

GoStudy's Non-Collateral Education Loan for Masters in Canada offers simple requirements that are hassle-free and quick to fulfill. Candidates must have a firm, unconditional, and confirmed offer letter from the Canadian university of their choosing in order to be eligible for an unsecured study loan through GoStudy. This demonstrates that the student has satisfactorily satisfied all admission requirements and that the admission cannot at any time be rescinded. The following are a few other education loans for Masters in Canada without security through GoStudy requirements:

  • A person who is an adult Indian citizen (18+).
  • Have a legitimate co-applicant or co-borrower who is either self-employed in India or working anywhere across the world. The person must be either a parent, parent-in-law, spouse, sibling, or an aunt or uncle from either parent's side of the family.
  • For a Canadian education loan without collateral, you must have a minimum CIBIL score (600-700).

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Documents required for Education Loan for Masters in Canada Without Collateral through GoStudy

The GoStudy documentation procedure for Education Loan for Masters in Canada Without Collateral may differ based on the individual case, but the checklist almost always remains the same. The entire process seems to be a breeze when you work with GoStudy experts, and they make it easy for you personally to get the loan. The list of Education loans for MS in Canada Without Collateral provided through GoStudy documents is as follows:

  • KYC of the student.
  • Educational Documents of a student
  • University Course Details & Fee Structure
  • Firm or Confirmed University Admission Offer Letter
  • KYC of the co-applicant
  • Proof of Income of the co-applicant
  • Student - 3 Year Income Tax Returns (If Applicable)
  • Co-Applicant Income Tax Returns - 3 Years
  • Documents Requiring Proof of Birth
  • Co-Applicant Shows Proof of Relationship
  • Bank Statement for the Last 12 Months of the Co-Applicant

Additional documents might be needed for acquiring a Non-Collateral Education Loan for Masters in Canada through GoStudy, that is determined by the lone discretion from the financial lender and also differs from situation to case.

Process & Procedures For Unsecured Education Loans for Masters in Canada Through GoStudy.

The massive need for Education Loan To study Masters in Canada without collateral through GoStudy each year by a huge number of candidates has opened up several avenues to explore. This led financial institutions to open up several schemes for Education loans through GoStudy for masters in Canada Without Collateral. The Unsecured Education loan for Masters in Canada through GoStudy begins with the student filling in details such as university details, co- applicants, program details, loan amount along with other important information. The bank requires the complete and legitimate identification of the co- applicant.

After completing the initial rounds of financial information checks; a specific loan offer letter is delivered with all the details asking for the documents and information to go on to the next sanction step. The Education Loan To study Masters in Canada Without Collateral through GoStudy might take anywhere between five to seven days to process completely. After successful signing and verification of the agreement, the mortgage amount is delivered by cheque, Demand Drafts or electronic transfer (NEFT) to the applicant or faculty.

Disbursement and Sanction of Education Loan for Masters in Canada Without Collateral through GoStudy

Once the mortgage is approved, a comprehensive sanction letter containing the study course title, faculty name, education loan quantum, applicant's name, co-applicant's name, guarantor's name (if applicable), interest rate, etc., moratorium period, repayment tenure, is released. The letter additionally includes all of its terms and conditions. The sanctioning letter must be an authentic and complete sanction letter, instead of any in principle letter with all the details mentioned in it. The in-principle letters are really not authentic and prove that there are pending documents and that applicants have not fulfilled all the criteria yet.

Following the sanctioning of the Education Loan for Masters in Canada Without Collateral through GoStudy, the money is delivered to the faculty for the payment of tuition costs, in addition to a portion is delivered to the applicant or co-applicant account, whichever is agreed on in the understanding. The payment is done in Indian National Rupee (INR) and can be made either in full or in part payments to the applicant or faculty, as determined by the lender's protocols.

Moratorium Period For Education Loan Without Collateral for MS in Canada Through GoStudy.

The moratorium is actually the grace time period between the authorized date and the first EMI date. Because the student is studying abroad, they don't have to pay EMI during this period and can only make a small contribution towards the interest. Nearly all banks and NBFCs in India offer unsecured education loans through GoStudy for MS in Canada and have a moratorium period. The small fraction of the interest paid during this is usually close to 2000 INR, which has to be paid till the conclusion of the course and employment. By doing so, you should be aware of the moratorium terms and conditions before you actually apply for the loan.

Repayment of Education loan for Masters in Canada Without Collateral Through GoStudy

Education loan for Masters in Canada without collateral through GoStudy includes simple repayment options which can range anywhere between twelve weeks to 180 weeks on average. You can choose your repayment term based on your convenience and likes, but you must pay on time. In some cases, banks and lenders will determine the repayment period and choices for you, depending on your weak financials and credit history.

Different repayment options for a Non-Collateral Education Loan for MS in Canada through GoStudy are:

  • Partial Simple Interest
  • Easy Interest
  • EMI
  • Full Moratorium period

Tax Benefit For Unsecured Education Loan for Masters in Canada Through GoStudy Under Section 80E of IT Act

Students may claim the full EMI amount to be paid for the specific fiscal year when applying for an Education Loan for Masters in Canada Without Security through GoStudy in accordance with Section 80E of the IT Act. These tax advantages are available to applicants, their partners, kids, or any guardians who accepted responsibility for a Canada Masters Education Loan Without Collateral through GoStudy. This tax exemption is valid for any international courses for which the applicant is given a loan. Although the rule makes no reference to a tax exemption ceiling, you must be sure to pay back the money within 8 years of the interest being paid. Only candidates who have made their payback on time are eligible for the tax benefits provided by this section, so be sure you are the one.


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