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  • Category: Banking

    Bank loans for Diploma courses abroad

    Need an urgent Bank loan to pursue a diploma course abroad? Find out quickly from our experts which banks in India offer education loans to study a diploma course in a foreign country.

    I have secured admission for diploma in Mechanical Engineering (2 yr course) in New Zealand. But when I approached some banks for an educational loan, they are rejecting the application saying that no loans are given for diploma courses.

    Please can you suggest me some banks that will provide educational loan for the above course. Its urgent, as the course starts in February and I should finish off all formalities before that.

    Thanks in Advance.
  • Answers

    4 Answers found.
  • As far as I know State Bank of India offers a term loan to Indian Nationals for pursuing job oriented degree and diploma courses in professional or technical field in India or abroad but the admission has to be secured there.

    As you have very short span of time, go through the link mentioned in reference first and contact to the nearest SBI branches immediately for the discussion to settle down everything accordingly if you are eligible one for the educational loan. But it is advised that before taking any loan, check the terms and conditions very carefully.

    Editor, ISC

    "Respect should be earned instead of demanding."

  • Hi,

    I enquired at SBI. They are not providing loan for diploma in Mechanical Engineering. Is Credila approachable? or Please suggest me some bank which provide loan for the diploma course i opted.

  • No Bank in India offers loan for diploma courses abroad. However loans for diploma courses leading to degree are considered on merit. But Bank's ensure that the name of the institute or University does not appear in fake universities, the details of which are available at UGC and RBI sites.

    Ashok Goyal

  • hi,

    Sorry For the repeated questions. but i am doubtfull how to make the bank know that my diploma course leading to degree? I want an advise on that.
    And also i searched for the list approved by RBI/UGC , but i didn't get any details. Could you please share me the link.

    And it will usefull if you can share the doccuments i should present to bank telling that the diploma is leading to a degree.


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