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Education Loan to study in New Zealand through GoStudy

Opt for an education loan to study in New Zealand through GoStudy and fund your dream career with the assistance of GoStudyLoans.

GoStudyLoans should be your No.1 destination when it comes to securing the best education loans to study in New Zealand through GoStudy. You can select from a diverse range of education loans. With offices in Mumbai, Chennai, Bangalore, Hyderabad, Pune, Delhi, Trivandrum, etc., we ensure the success of every candidate. GoStudy’s financial partners are well renowned and offer many education loans to study in New Zealand through GoStudyLoans.

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Factors That Can Get You An Education Loan to study in New Zealand through GoStudy

1

Stupendous Academic Profile

Students need to have a spectacular academic profile with proven credentials for fetching an education loan to study in New Zealand through GoStudyLoans.

2

University Choice

University can impact the GoStudyLoans partnered education loan to study in New Zealand, and we at GoStudyLoans have tied up with the best universities.

3

Future Focused Programmes

GoStudyLoans has covered 90% of New Zealand universities' most opportunistic and popular programs in terms of your future job prospects.

4

Extensive Opportunities in New Zealand

Immense opportunities in New Zealand await you, and we assist you by procuring an education loan for New Zealand in India through GoStudyLoans.

5

No Income Proof Required!

Simply depending on your KYC, you can opt for compelling education loans to study in New Zealand through GoStudyLoans.

6

Easy Sanction & Disbursement

You do not need to go through hectic loan processes and legalities as we help you with faster sanction and easy loan disbursement.

7

Comprehensive Education Loan Product

GoStudyLoans brings outstanding education loans to study in New Zealand to help you study abroad with uninterrupted funding.

8

Loan Processing on Priority

GoStudyLoans has a blazing loan processing time since we sort 1000s of loans and our dedicated credit managers sort every intricate detail.

9

Lowest Interest Rates In The Market

With GoStudyLoans, interest rates are generally 0.5% - 1% cheaper than others!

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Education Loan to study in New Zealand through GoStudy

Education loans are ideal for students these days due to the rising academic costs and living expenditure abroad. Education loans to study in New Zealand through GoStudy not just assist you in accomplishing your career goals with proper funding but that too in the most convenient way. Education loans to study in New Zealand through GoStudy are advantageous owing to the benefits from central government schemes and takes care of your funding necessities right on time so you can just focus on studies. Education loan for New Zealand in India through GoStudy is made convenient with GoStudyLoans, thanks to our trusted and responsible financial partners who strive hard to help you out.

Speaking of education loans to study in New Zealand through GoStudy, students can select between secured loans and unsecured loans for education in New Zealand. The higher demands for education in New Zealand and the inclination towards education loans have led many banks and NBFCs to present new opportunities when it comes to New Zealand education loans in India through GoStudy. These loans cover a comprehensive expenses list from your Tuition Fee, Accommodation Costs, Travel, Food, Shopping, etc., while you are pursuing your dream career in New Zealand. An education loan for New Zealand in India through GoStudy can meet all your educational expense needs and help you take the next career leap.

Students pursuing higher education in New Zealand have to incur many expenses alongside academic and university expenses. GoStudyLoans can help you find the best education loans to study in New Zealand, which helps in the purchase of electronic gadgets, study materials prior to traveling & all your traveling expenses for making it to the country.

Interest Rate For Education Loan To Study in New Zealand through GoStudy

Every loan comes with an interest rate levied on the entire repayment of the sanctioned loan. It is similarly implied in the education loans to study in New Zealand through GoStudy, where the lending institution places a rate of interest on the sanctioned loan amount. This interest rate is decided on the basis of the credit score, course selection, co-applicant income, and job prospects, to name a few. Unsecured loans come with higher interest rates compared to secured loans. At GoStudyLoans, you will be able to get the most competitive rates on education loans compared to the entire market, and we do it just for you. Our team of experts ensures that you get all of your queries cleared regarding Education Loan for studying abroad in New Zealand through GoStudyLoans.

Non-Collateral Education Loan for studying abroad in New Zealand through GoStudy comes with flexible rates of interest and may change over time on course profiling and credit dues. A simple interest formula with monthly rest is being improvised to calculate the interest rate on the education loans to study in New Zealand through GoStudyLoans.

Below are the interest rates they are offered on education loan to study in New Zealand through GoStudyLoans without Collateral:

Furthermore, the following mathematical formula is used to calculate the EMI based on the interest rate for Education Loan to study in New Zealand through GoStudyLoans:

EMI = [Principal Amount x Rate of Interest x (1 + Rate of Interest) Tenure*] / [(1 + Rate of Interest ) Tenure* - 1]

*Please note that the tenure is calculated in months.

What are the costs that are covered in an education loan to study in New Zealand through GoStudy?

Education loans to study in New Zealand through GoStudy can cover 90%-100% of the expenses for your education abroad, which comprises education, traveling, and shopping budgets. These expenses cover your tuition fee, accommodation, food, travel & other expenses. Our responsible financial associates ensure that the fund requirements of students are taken care of with extra attention and that the funds are always remitted right in times of need.

Below is the list of the cost covered in an Education Loan Without Collateral for New Zealand through GoStudyLoans:

• Tuition Fee
• Living Expenses
• Books
• Laptops
• Travel Tickets
• Health Insurance
• Other Electronic Gadgets
• Any Application Expenses
• Competitive Exam Fee
• Visa Application Fee

Education loans to study in New Zealand through GoStudy can land you a loan amount of up to 50 lakhs for education in New Zealand depending on certain considerations such as the credit score and academic profile. A few other factors that decide the loan amount are the university choice, course choice, and post-completion job prospects.

Unsecured Education Loan to study in New Zealand Through GoStudy

Acquiring an admission offer letter from one of the most prestigious New Zealand universities gives you a good chance of being eligible for an unsecured Education Loan to study in New Zealand through GoStudy. A few other parameters that impact the eligibility for an education loan to study in New Zealand through GoStudy are the course attended by the student and the future employability prospect. GoStudyLoans always strives hard to bring the most loan amount for your study in New Zealand. However, a sound financial profile and good academic background always help. The loan sanction quantum and disbursal are judged by the creditworthiness of the co-applicant and the candidate. To get a higher loan amount for studying in New Zealand, you need to have a brilliant credit score.

Below listed documents are required to initiate the process of obtaining a Non-Collateral Education Loan to study in New Zealand through GoStudyLoans:

• Unconditional/Firm/Confirmed Offer Letter
• A co-applicants whose Income Proof is also not required in many cases
• PAN Card
• Academic Documents
• IELTS/TOEFL/PTE/English Language Scorecard, if any
• Valid Passport

However, the various parameters for Education Loan to study in New Zealand through GoStudy may vary depending on the student profile. Everything is hassle-free, convenient, and transparent for the students.

Collateral For Education Loan In New Zealand through GoStudy

When GoStudyLoans can help you with the best education loan to study in New Zealand, you need not go through any kind of hectic loan process. As mentioned before, students will find two distinct loan categories for education loans to study in New Zealand through GoStudy and let us now discuss the collateral or secured New Zealand education loans in India.

Collateral loans are secured loans that can save you substantial money on interest rates and can land better deals for you. For collateral loans, you must pledge any form of an asset, such as immovable property, gold, fixed deposits, etc., which the lender accepts as security against the loan. New Zealand education loan in India through GoStudy comes with an easy process, so there is nothing for students to be concerned about. Students who are not qualifying for an education loan to study in New Zealand through GoStudy are also suggested to opt for collateral education loans to be on the safer side. Let us check out a few basic documents that lenders accept as collateral security:

• House/Flat/Apartment - A personal residential property that has no dues/any standing loan on it
• Any other legal residential property with no dues or repayments
• Fixed Deposit by a registered NBFC or a nationalized bank, with a letter of affirmation from the end manager of the institution assigning it in favor of an education loan to study in New Zealand.
• Surrender Value Certifications of Life Insurance that are equal to the amount that is required for sanction
• A non-agricultural land within legal parameters

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

Most Indian banks and NBFCs offering New Zealand education loans in India through GoStudy have introduced fantastic schemes for easy availing of education loans. New Zealand has a thriving economy and some cool universities, which convinces lenders to offer you education loans to study in New Zealand through GoStudy. With the rising number of students, which is now more than 20,000+ wanting to study in New Zealand, you will find many lenders offering unsecured education loans for New Zealand in India through GoStudy.

Below is the list of universities that have been pre-approved by the banks for an unsecured education loan to study in New Zealand through GoStudy

Co-applicant for New Zealand Education Loan in India through GoStudy

Co-Applicants not only increase the chances of approval of your secured and unsecured loans but also fetch you a lot of favorable terms. Having surplus wealth and assets, along with a higher credit score, is not enough to stop the financial lenders from asking for a co-applicant while granting the education loan to study in New Zealand through GoStudy since, during education, the student will have no source of income. The co-applicant's creditworthiness is decided by their age, relation with the applicant, income, credit score, assets value, and financial portfolio.

Co-applicants act as a guarantee to the sanctioned loan wherein if the candidate fails to repay the loan back, the co-applicant will step in to repay the education loan for New Zealand in India through GoStudy.

Below is the list of co-applicants for Education Loan for New Zealand in India through GoStudy that are accepted:

• Parents
• Parents-in-law
• Spouse
• Siblings
• Maternal Uncles & Aunts
• Paternal Uncles & Aunts

Eligibility Criteria For Education Loan to study in New Zealand through GoStudy

The eligibility for an education loan to study in New Zealand through GoStudy is very convenient and transparent for every student. You should have a firm-confirmed unconditional letter of admission offer from any prestigious university to qualify for the best education loan for studying abroad in New Zealand through GoStudy. This proves you have accomplished all the eligibility criteria for admission and that the admission offer cannot be revoked anyhow. Apart from that, there are a few other requirements for an education loan for New Zealand, which are as follows:

• A citizen of India who is at least 18 years old.
• Has a valid co-applicant or a co-borrower, working in India or anywhere in the world, or self-employed in India. The person should be either Parent, Parent-in-law, Spouse, Siblings, Maternal & Paternal Uncles & Aunt.
• The minimum CIBIL score for an education loan to study in New Zealand must be met.

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Documents required for Education Loan to Study in New Zealand through GoStudy

The Simple documentation process for an education loan to study in New Zealand through GoStudy is similar, and that’s what makes the loans so convenient. However, some documents may change depending on the profile of the candidate. At GoStudyLoans, our experts make sure it is a cakewalk where we help you understand what is needed. The list of documents that are required for an Education Loan to study in New Zealand through GoStudy are as follows:

• Student’s KYC
• Student’s Educational Documents
• University Course Details & Fee Structure
• Unconditional/Firm/Confirmed Offer Letter
• Co-Applicant’s KYC
• Co-Applicant’s Proof of Income
• Income Tax Returns of Student - 3 Years (If Applicable)
• Income Tax Returns of Co-Applicant - 3 Years
• Proof of Birth Documents
• Proof of Relationship with Co-Applicant
• Bank Statement for Months of Co-Applicant

Alongside these, you may need some more documents, which are purely based on the sole discretion of the provider of an Education Loan for studying abroad in New Zealand through GoStudyLoans.

Process & Procedures For Education Loan to study in New Zealand through GoStudy

With ever increasing demands for education loans to study in New Zealand through GoStudy, many financial lenders are offering extravagant schemes for education loans to study in New Zealand. To initiate the education loan to study in New Zealand through GoStudy, you first need to inform the lender about the loan amount along with self details, university details, co-applicant details, course name, tenure, and other relevant details. Co-applicant is a very important part in the process, so make sure to check it twice.

A formal letter for the proposed loan will be sent to the applicant once the first round of checks and verifications and document submission are done. The processing time is usually 5-7 days for an Education Loan To Study in New Zealand through GoStudy. When the details are reviewed, and the agreement is signed, the loan amount will be disbursed at the earliest through a DD, Cheque, or Electronic Transfer.

Sanction & Disbursement of Education Loan to study in New Zealand through GoStudy

Post verification and approval of the loan, a formal sanction letter with details such as applicant information, co-applicant information, course, EMI, moratorium, guarantor, if any, interest rate, and tenure, will be handed over to the student. This letter should always be a comprehensive sanction letter but not an in-principle letter because most universities reject an in-principle letter which only signifies that the candidate is yet to qualify for the loan.

Post sanctioning of the Education Loan to study in New Zealand through GoStudy, the funds will be remitted to the university as tuition fees or to the applicant or co-applicant’s bank, whatever was decided while the agreement signing. The disbursement is made in Indian National Rupee (INR), that can be partial or full disbursement based on the requirements and the protocols of both the borrower & the lender.

Moratorium Period For Education Loan for Studying Abroad in New Zealand through GoStudy

A moratorium is the time period where the student does not need to pay any EMI immediately post the sanctioning of the loan and until the completion of the course and securing employment. Most banks that offer New Zealand education loans in India through GoStudy come with a flexible moratorium period. During this period, you just can pay a fraction of simple interest, which may be as low as just 2,000 INR, until the completion of the course and till the time you secure employment. Hence, carefully inquire about the moratorium period before you sign up for the loan.

Repayment for education loan to study in New Zealand through GoStudy

Repayment options for education loan to study in New Zealand through GoStudy are flexible, and you can choose it in accordance with your convenience. You can choose anything between the time ranges from 12 months to 180 months on average, depending on your ability and convenience. In most cases, students are able to choose their repayment period. However, for students who do not have a strong financial portfolio, banks may recommend an ideal repayment period for them.

The various categories of repayment options for Education Loan to study in New Zealand through GoStudyLoans:

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

Tax Benefit For Unsecured Education Loan for New Zealand through GoStudyLoans under Section 80E of IT Act

According to Section 80E of the IT Act, you can claim a deduction on the overall EMI to be paid on an Education Loan to study in New Zealand through GoStudy for the financial year. You, your spouse, your children, or your legal guardian who has partaken responsibility in your Education Loan can claim these benefits. The deduction is applicable to all the courses for which the education loan is granted for your education abroad. The rule does not state how much tax benefit can be claimed, but it is advised to ensure the loan repayment is made within eight years of interest repayment. If you ensure the repayment is within this tenure, you are eligible to claim all the benefits under this section.

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