Applying for education loan to study abroad? 5 things to keep in mind

CIBIL Score
Make sure you have a high CIBIL score. A high credit score, which reflects responsible financial behaviour, guarantees better loan terms and increased approval chances.
Choose wisely
Select your course and university carefully. Choosing respectable universities and relevant courses improves future employment opportunities and the likelihood that a loan will be approved by your bank.
Avoid multiple applications
Do not submit applications to several lenders. Applying for several loans at once can lower your credit score and give the impression that you are not stable financially to lenders.
Check interest rates
Pay attention and keep a check on the interest rates of different banks. Understanding interest rates helps you to choose the best loan option at the lowest possible cost, resulting in long-term financial savings.
Don't submit incomplete, fake documents
Refrain from sending fraudulent or incomplete documents. To ensure credibility and trustworthiness in the application process, genuine and complete documentation is essential for loan approval.