Education Loans For MBA In New Zealand Through GoStudy!

GoStudy has partnered with the best financial institutions to offer education loans for MBA in New Zealand. Take your career to new heights.

GoStudy is India’s leading education loan provider offering the best education loans for MBA in New Zealand. New Zealand is the 2nd safest country for higher studies, undoubtedly. To study MBA in New Zealand, sufficient funds are needed, which is a restraint for many. This is why GoStudy can offer the best guidance for an education loan for MBA in New Zealand. Avail of the best education loans for MBA in New Zealand through GoStudy.


9

Factors that get you an education loan for MBA in New Zealand through GoStudy

1

Reasonable Interest Rate

Studying for an MBA in New Zealand is easy with the right funding partner. GoStudy can land the best interest rates.

2

Instant Profile Evaluation

GoStudy inspects students’ profiles carefully to let them get the most out of education loans.

3

Affordable Processing Fees

GoStudy ensures fees are minimal and affordable.

4

KYC Based Approval

With GoStudy’s offerings, you can receive an education loan just using your KYC Documents without proof of income!

5

Comparatively Better Repayment Options

GoStudy gives you the guarantee of better repayment options.

6

Funding Aids

GoStudy performs the right profile evaluation and lets students get aid like scholarships, discounts on tuition fees, and grants.

7

Personalized Loan Offerings

After evaluating a student’s profile, customized loan options are offered by GoStudy.

8

Increased Limits With Low-Interest Rates

GoStudy makes it possible for students to get high limits on an education loan in India for MBA in New Zealand.

9

Future-Based Programs

GoStudy is the best in the industry having experience in visa approvals for students.


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Education Loans for MBA in New Zealand Through GoStudy

The education system of New Zealand maintains a fine balance between application and theory. This is why New Zealand is known for its education system in the entire world. They focus on the application of knowledge by aspirants. This country also comes with flexible pathways for international students to avail of their MBA or any other higher education. New Zealand is a major hit among Indian students. After deciding, they start exploring the best pathway in terms of an education loan for MBA in New Zealand for Indian students through GoStudy to begin with the process.

Home to more than 10 Lakhs international students, this country appears to be in a great trend among overseas education destinations. Being a study abroad aspirant in India, you can pursue your MBA from a high-ranked university in NZ. All you need to do is to get the right education loan in India for an MBA in New Zealand through GoStudy and we, at GoStudy, can create a successful pathway for you. Before applying for any educational loan in India, you must gather all the necessary and comprehensive information.

There are private and public banks, as well as NBFCs, which are going to give your career a kick start by offering the best education loan for MBA in New Zealand through GoStudy. Normally, there are 2 kinds of educational loans such as secured and unsecured education loans. When it comes to opting for an education loan, it is always advised to take a loan with security from government banks and a loan without security from private lenders.

Education Loan MBA in New Zealand
Education Loan MBA in New Zealand

Interest rates for education loans to study MBA in New Zealand through GoStudy

When it comes to the best education loan for MBA in New Zealand through GoStudy, it is not easy to pick the right one because different lending institutions have different interest rates, repayment periods, and other things. The main factor that affects the selection of a funding partner is the rate of interest. The rate of interest is applicable to the loan amount that you have to pay back. This is why it is a great investment to consider but with GoStudy, there is nothing to take stress at all. We meet different interest rate needs of students as not every student profile is the same. On the overall, you should compare different interest rates from many different funding institutions so that you can avail the best one. Check out the interest rates from several lenders and compare all of them to opt for the right education loan for MBA in New Zealand through GoStudy.

Type of Education Loan

MBA Education Loan Rate of Interest As Per Market

MBA 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% 11.50%

If you want to get an idea of what amount of money you need to pay as EMI, then you can use this formula.

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]

There is also an EMI calculator that also lets you find the best EMI option at a better interest rate.

What are the costs that are covered in education loans for MBA in New Zealand through GoStudy?

The cost of education in New Zealand comprises the fees for a particular course, living expenses, travel, and other miscellaneous charges. Make sure you know the major expenditure will be on the tuition fees and it may vary from course to course and university to university. If you are planning to study for an MBA in New Zealand, you can expect your tuition fee to be between NZ$19000 to NZ$29000 per year. Keeping all the expenses of international students, GoStudy can provide a full-fledged education loan for MBA in New Zealand through GoStudy. Such educational loans are going to cover all kinds of expenses of an international student right from grocery shopping, travel, meals, social activities, and emergencies.

The total cost of living in New Zealand falls somewhere between NZ$ 13,000 to NZ$ 16,000 per year. But, the actual cost of living in NZ entirely depends on the students according to their living standards and needs. With different expenses in mind, the below-mentioned financial institutions offer a variety of educational loans to Indian aspirants to meet their study goals without any difficulty:

  • SBI
  • BOB
  • Axis bank
  • ICICI Bank
  • Avanse
  • Incred
  • IDFC First Bank
  • HDFC Credila

With the right funding partner at GoStudy, a competitive interest-rate-based education loan for MBA in New Zealand for Indian students through GoStudy can secure your future to a greater extent.

Following are the lists of the Costs Covered by Education Loan for MBA in New Zealand through GoStudy:

Things covered under MBA Education Loan through GoStudy

Costs Covered by MBA Education Loan in New Zealand 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)

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Collateral-Free Education Loan for MBA in New Zealand Through GoStudy

An education loan for MBA in New Zealand through GoStudy can be of 2 types such as secured and unsecured education loans. Before choosing any option, ensure to understand all formalities required. A secured educational loan is simply known as a loan with collateral security. You need to pledge collateral security against a secured education loan. Although government banks do permit education loans on the collateral of third parties, the NZ embassy does not grant it as a funding source. Hence, you should avoid borrowing a loan by pledging an asset of any third party as collateral security. If you are looking forward to borrowing a study loan against Fixed Deposit, you must ensure that your FD is 6 months old. It is the requirement of New Zealand to pledge FD as collateral security, but only if it is 6 months old as a funding option.

Now, talking about an education loan for MBA in New Zealand for Indian students through GoStudy without security or collateral, it does not require collateral for pledging against a study loan. Such loans are offered by NBFCs, which are known to be private lending institutions. But the major thing to understand is that students deal with some problems in getting an education loan with no security in NZ. The reason is that the New Zealand embassy rarely accepts this form of education loan as a funding method for higher education like an MBA. But with GoStudy, nothing is impossible, we make it possible for Indian students.

Below listed are some documents you need to submit to the bank to apply for an education loan for MBA in New Zealand through GoStudy:

  • Unconditional/Firm/Confirmed Offer Letter
  • Co-Applicant’s Income Proof
  • PAN Card
  • Academic Documents
  • Other Relevant Academic Scores - GRE/GMAT
  • IELTS/TOEFL/PTE/English Language Scorecard
  • Valid Passport

Collateral for Education Loan for MBA in New Zealand through GoStudy

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 for MBA in New Zealand through GoStudy is mentioned below:

  • Property Title Deed and Registered Sale Agreement
  • Original Registration Receipt for the above-mentioned agreement
  • Allotment Letter by Municipal Corporation/ Any Authorized Government body like MHADA, CIDCO, HUDA, JDA, GIDC ETC (if applicable)
  • Encumbrance Certificate (EC) to be submitted for the previous 30 years. This collateral document is generally known as Link Document.
  • Valid Copy of the municipality-approved building plan or plot layout.
  • Latest property tax bill or Latest electricity bill bearing the same address.

University-wise pre-approved amount for education loan to study MBA in New Zealand through GoStudy

Master of Business Administration is said to be a premier-level qualification. Being an entry to many career opportunities in the corporate world, it is preferred by millions of students worldwide. New Zealand which houses many top MBA universities and colleges of the world has built a strong status of quality and excellence across the globe. By opting for a top-rated university in New Zealand, students can get lucrative scholarships and secure career prospects in the future. An education loan for MBA in New Zealand for Indian students through GoStudy also makes your opportunity stronger.

In MBA universities in New Zealand, there are different MBA programs available. These include Fresher’s MBA and Executive MBA, you can opt for any MBA program depending on your choice, preferences, and eligibility. To know more about such MBA programs, GoStudy will give you complete information, giving you a direct pathway to success. Some top-rated MBA universities in New Zealand offer pre-approved educational loan offers for Indian students. Check it out before picking up any option of an education loan in India for MBA in New Zealand through GoStudy:

List of Universities accepted by Unsecured Education Loan for MBA in New Zealand through GoStudy

GoStudy’s Pre Approved Education Loan Amount

University of Auckland 25 Lakhs
University of Canterbury 25 Lakhs
Lincoln University 25 Lakhs
University of Waikato 25 Lakhs

Co-Applicant For An Education Loan For MBA In New Zealand Through GoStudy

Before availing of the best education loan for MBA in New Zealand through GoStudy, you must check out the info related to the eligibility and evidence of funds required to show. A student can only show funds from immediate family members like a spouse, siblings, parents, grandparents, and parents-in-law. Apart from that, a co-applicant is also needed in the case of unsecured loans. A co-applicant has to co-sign the loan along with the borrower. This is why the documents of a co-applicant are also needed. You need to show the profile of a co-applicant, as well as the income. GoStudy will let you know if there is any requirement of having a co-applicant after evaluating your financial status and academic profile.

A co-applicant can be your parents or guardians, spouse, paternal aunts/uncles, or maternal uncles/aunts. Make sure you examine the eligibility of a co-applicant if needed before filling out the application form for an education loan in India for MBA in New Zealand through GoStudy.

Eligibility Criteria For Education Loans To Study MBA In New Zealand through GoStudy

Talking about the entry requirements to study for an MBA in New Zealand, they are quite stricter than other study destinations all over the world. Check out some standard eligibility criteria for overseas students before availing of any education loan for MBA in New Zealand through GoStudy:

  • You must have a strong academic profile. A three-year bachelor’s degree from a reputed university in India is needed, which is equivalent to a bachelor’s degree in New Zealand with a minimum of 60%.
  • Most of the top-rated universities in NZ require a minimum of 3-5 years of work experience in the relevant field if you want to secure your place in the Executive MBA program, a higher-level program.
  • A student must have a valid IELTS or TOEFL score with an overall band of 6.5 or equivalent for MBA courses.

Apart from that, Indian citizenship and age-proof details are needed. For co-applicants, their stable income source must be shown.


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Documents required for education loans to study MBA in New Zealand through GoStudy

To meet the eligibility conditions of an education loan for MBA in New Zealand for Indian students through GoStudy, you are needed to submit the below-mentioned documents:

  • Filled application form
  • Valid Indian passport
  • 2 passport-size photographs
  • Statement of purpose
  • Receipt of payment of application fee
  • KYC details
  • Income Tax Returns, Form 16
  • Bank statements of the last six months
  • Standardized English language proficiency tests
  • Proof of previous work and studies if any
  • Proof of funds to cover the tuition fees, as well as the staying expenses
  • Proof of age and residential
  • PAN Card
  • VAC Service Fee

The requirement of documentation may also vary from lender to lender and depending on the type of education loan for MBA in New Zealand through GoStudy.

Process & Procedures for an education loan for MBA in New Zealand through GoStudy

When you are going to apply for an education loan for MBA in New Zealand through GoStudy, it would be good to clarify all the doubts if you have any. The right procedure must be understood and at GoStudy, the team of professionals can explain the application procedure carefully. To process the entire application, it hardly takes 10 to 15 days. Our experts are always there to assist you. Before starting the MBA program, ensure you apply for at least 1 to 2 months. Here is a stepwise procedure that you need to understand for the best education loan for MBA in New Zealand through GoStudy:

  • An acceptance letter from your desired NZ University must be obtained as the first step.
  • Calculate the overall expenses you require for studying higher studies
  • If everything seems fine to you, fill out the loan application online or visit in-person to a lender
  • After that, submit all the documents whenever you ask to do so
  • Sign the documents and get your educational loan approved

A lender will review your application and do the necessary things for securing your student visa. At GoStudy, the expert team can guide students and give them the right educational loan.

Sanction & Disbursement of Education Loan for MBA in New Zealand Through GoStudy

When a loan sanction letter is provided, it can be submitted to secure a student visa while showing proof of finances. While applying for an education loan for MBA in New Zealand for Indian students through GoStudy, in the case of the normal course, the future income of a candidate is taken into consideration. If required, the means of guardians or parents can also be considered to assess repayment capability. The educational loan is sanctioned according to the power of delegation by a lender. The loan is disbursed in stages based on the requirement or demand directly to the university in New Zealand or vendors of instruments/equipment/books to the extent possible.

Moratorium Period for Education Loans for MBA in New Zealand through GoStudy

The repayment procedure process of banks and other financial institutions for an education loan in India for MBA in New Zealand through GoStudy is pretty simple. Every lender or financial institution grants a moratorium period to Indian students who want to study in New Zealand with the support of educational loans. Make sure you know each and everything about the moratorium period. A moratorium period is defined as the duration of the educational loan tenure, in which applicants are not needed to begin their loan repayments. It is a plus point of such a holiday, which gives you an ample amount of time to seek and get employment before the commencement of the loan repayment. This period comprises the course duration along with 6 months before completing the course or when a candidate gets employed, whichever occurs first.

Repayment of Education Loan for MBA in New Zealand through GoStudy

Public banks have a repayment tenure of 15 years. The best part is that the interest payment does not begin until the moratorium period gets completed. Different repayment methods are offered by a wide range of banks and financial centers. The table shows how a particular funding institution gives you the repayment method. Check it out before applying for the best education loan for MBA in New Zealand through GoStudy given below:

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

Tax Benefit for Education Loans for MBA in New Zealand under Section 80E of the IT Act through GoStudy

Now, coming to the next thing, there is a tax benefit for those who are going to avail of an education loan for MBA in New Zealand for Indian students through GoStudy. But there are several terms and conditions associated with this tax benefit. The Indian government has set some rules for those who have paid their EMIs in full along with the preferred rate of interest. According to this tax benefit scheme, a borrower can get a deduction in the interest rate. It means that this tax benefit is applicable on the rate of interest part. Today, in India, the government has started taking the initiative for students so that they can enjoy many perks while studying an MBA program in an overseas nation like New Zealand. You will be eligible for this tax benefit only if you have acquired an education loan from a recognized financial institution or public/nationalized bank in India. For more details about this scheme, one can rely on the experts at GoStudy.

If you are determined or have a will to fulfill your dreams of studying overseas, then GoStudy is the right overseas educational partner with deep roots in different parts of India. We will avoid any issues that come in the way of getting a student visa in New Zealand.


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