Interest Rate 10.75% - 15%
Processing Fee 1.1% - 1.2%
Prepayment Charges 0%
Collateral No
Early Repayment Yes
Time Frame Repayment 0%
Margin Amount 100%
Loan Tenure 10 Years
Living Cost Yes
Interest Rate 11.5% - 16%
Processing Fee 1% - 1.25%
Prepayment Charges 0%
Collateral Yes
Early Repayment No
Time Frame Repayment 0%
Margin Amount 0%
Loan Tenure 10 Years
Living Cost No
Interest Rate 10.95% - 12.45%
Processing Fee 1% - 1.2%
Prepayment Charges 0%
Collateral No
Early Repayment Yes
Time Frame Repayment 0%
Margin Amount 100%
Loan Tenure 30 Years
Living Cost Yes
Interest Rate 8.99% - 13.5%
Processing Fee 0.38% - 1%
Prepayment Charges 0%
Collateral No
Early Repayment Yes
Time Frame Repayment 0%
Margin Amount 100%
Loan Tenure 15 Years
Living Cost No
Interest Rate 11.5% - 14%
Processing Fee 1% - 2%
Prepayment Charges 5%
Collateral No
Early Repayment Yes
Time Frame Repayment 0%
Margin Amount 0%
Loan Tenure 10 Years
Living Cost Yes
Despite being a tiny island nation, New Zealand is home to more than 106,000 international students. In fact, one in every five international students in New Zealand is Indian. After China, India accounts for the maximum number of international students in the country. All of New Zealand’s universities offer a broad range of subjects for undergraduate, Masters and Doctoral (PhD) degrees in science, commerce and humanities.
UniCreds offers simplicity in acquiring education loans, unlike any other platform. Here are just a few benefits offered by UniCreds -
In recent years, the cost of college has been rising rapidly and students often struggle to fund their overseas education all on their own. On average, students are graduating with $132,860 (£101,505) worth of debt. This is a sizable amount to pay off for someone who's just about to start their career. Here’s where an education loan comes in. An education loan is the most trusted source of finance for university students. With UniCreds, students can expect up to 100% financing that covers their tuition and living expenses. Moreover, interest paid on education loans from UniCreds is fully eligible for deduction under Section 80E of the Income Tax Act, 1961. This will help ease the financial burden of studying abroad.
An education loan can cover all your educational expenses that include your tuition fees, on-site or off-site accommodation, transportation costs, books, library fees, courseware, and other miscellaneous expenses.
There are hundreds of lenders offering a variety of education loans to study abroad. Finding the perfect education from hundreds of options can be like finding a needle in a haystack. This is why you should start your research much in advance so that you have the time to check out all the options in the market. Apart from this, here are some other parameters that you should consider while choosing your education loan:
Getting an education loan without collateral depends on several factors like loan amount, student’s profile, university, etc. However, if students wish to take an education loan to New Zealand with collateral, they enjoy lower interest rates. This is because the borrower offers security to the bank (if they fail to repay the loan), the risk that the bank takes is moderate.
Bank Type | Lender | Loan Amount | Interest Rate | Processing Fee | Payment During Study Period |
---|---|---|---|---|---|
Public Banks | State Bank of India, BOB | Up to INR 7.5 lakhs | 8.85%-10.5% | INR 11800 | No payment |
Private Banks | Axis Bank | Up to INR 1 Cr | 11.5%-13.5% | NIL for loans below INR 20 lacs. INR 750 on every lac above INR 20 lacs. | Simple Interest |
NBFCs | Avanse, Incred | Up to INR 60 Lakhs | 12%-14.5% | 1-2% of the loan amount. | Simple interest |
Bank Type | Lender | Loan Amount | Interest Rate | Processing Fee | Payment During Study Period |
---|---|---|---|---|---|
Public Banks | SBI, BOB | Only up to 7.5 Lakhs | 10%-11% | NIL | NA |
Private Banks | Axis Bank | Up to INR 40 Lakhs (Masters STEM courses in 5-7 university), for rest INR 7.5 Lakhs | 11.5%-13.5% | INR 0 is the loan is less than INR 20 lacs. INR 750 on every lac above a loan of INR 20 lacs | 5-7 |
NBFCs | Avanse, InCred | Up to INR 25 Lakhs | 12%-16% | 1-2% of Loan Amount | More than 15 |
The general rate of interest on an educational loan to New Zealand ranges between 8.85% to 16%. The exact rate of interest depends on the student’s profile.