I just completed my B.Com (H) with 4 backlogs in total, 3 in the first semester and 1 in the 5th semester. Could these backlogs affect my chances of getting a non collateral loan for studying abroad?

Question

And if they do affect the process, could it be compensated by a good GRE/GMAT score ? Or the only option left would be a collateral loan?

Smoky zz · Answer

Hi Jaijeet
Definitely your chances are less but Not NIL for Non-collateral Loan Because of Your Backlogs as These loans are Provided to you on Basis of your Bachelors scores, Gre/gmat Scores, Your Graduate course ,College and Chances of Job Opportunities in future and Also if You get a loan, The Interest Rate Will be Higher than Avg. If You Have Work Exp your Backlogs might Not be a Hinderance as You are Already Job Ready post Graduation and Even your Non-Collateral Loan depends on Your Co-signer Profile like CIBIL for INR Loans. But For a Collateral loan you'd get your loan based on your Property value and they Don't Base it Much on your Profile as i Have seen a guy getting a Loan From SBI with 2 Yearback because he had a Collateral with 8.5% interest.

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