Cynapse FAQ Series
In this section we cover the most frequently asked questions around education loan in India
Interest Subsidy for International Education Loan: Here’s how.
Summary: There are 2 major interest subsidy schemes you can avail if you're looking for Interest Subsidy for your education loan for abroad studies. In this article, we have covered both the schemes in detail, their eligibility criteria, who can apply and how to can...
What is FOIR? Why is FOIR important for unsecured education loan?
There are many parameters that go into consideration while deciding the eligibility of an individual for approving a credit limit. One such important parameter is FOIR (FOIR full form is Fixed Obligations to Income Ratio). FOIR is used by the bank to understand the...
How to avail an educational loan with co-applicant abroad?
You can obtain An unsecured education loan for your studies abroad by having a co-applicant with valid income proof. This co-applicant is usually a close blood relative (or spouse). They could either be doing a business or working as an employee. Such a co-applicant...
What are the documents required for a secured education loan?
Secured educational loans are those educational loans where the student attaches a 'security' against the education loan amount that he/she receives from the bank. The security, also called 'collateral', minimizes the risk for the bank. This security would be seized...
All (you need to know) about GIC in Canada.
Summary: This article goes into a deep dive about GIC (Guaranteed Investments Certificates). It tries to cover everything you need to know about GIC when looking to study in Canada. What is GIC in Canada? GIC (Guaranteed Investment Certificate) is a financial...
How do I avail myself an international educational loan without collateral/security (un-secured loan)
Summary: This article helps you navigate the world of unsecured loans, what it is, who provides them, how to qualify for them, and how to increase your odds of getting an education loan for abroad studies without collateral. Are there international education loans...
Education Loan from Banks vs NBFCs: What should I choose?
What is the difference between a bank and an NBFC? Students and parents are often confused between the pros and cons of availing education loans from a Bank or an NBFC. In this blogpost we’ll try and break down the difference between both and then the pros and cons of...
Secured v/s Unsecured loans: What should I choose?
While choosing credit for your studies, students are often faced with a question: what is the type of loan that I should go for, Secured or Unsecured? Let us first understand what we mean by these terms Secured loans are business or personal (including educational)...
What factors determine your Education Loan Interest rate?
Banks often advertise interest rates that are different from the rates they approve. That’s because many factors go into deciding the risk profiling and the subsequent interest rates offered for students. Let’s understand some basics. Banks borrow money from...
Central Guarantee Fund Scheme for Education Loans
Education loans have remained as the product with high scepticism for financial institutions given their high default rate. The government notification issued on September 16, 2015, on Credit Guarantee Fund Scheme for Education Loans (CGFSEL) has opened a world of...