Education Loan for Ireland

An Education loan can offer up to 1.5 Crores at an interest rate starting from 8.55% per annum for your education in Ireland. You can get both secured and unsecured loans for Ireland. In order to apply for a Visa to Ireland, 7000 euros need to be presented as proof of funds towards the living expenses. You also need to pay the first-year tuition fee in order to start the immigration process.

You can avail of up to 75 Lacs for higher education in Ireland, with a repayment period of 10 years. Generally, Unsecured loans are taken from private banks or NBFCs which require total simple interest or partial simple interest to be paid during the moratorium period. 

Tip: Having a good financial co-applicant can help you get the most out of your unsecured loan. Also, try to aim for the top universities in Ireland as it increases your academic credibility.

To know more about the eligibility of your financial co-applicant or to check if your university is on the prime list of institutions of any of the lenders you can reach out to the WeMakeScholars team.

• IDFC First bank 
• Axis Bank 
• ICICI Bank 
• Avanse 
• Auxilo
• Incred 
• HDFC Credila 
• EliteScholars

Step 1: Visit our website and request a callback from our financial officers. 

Step 2: You will shortly be contacted by one of our FOs to analyze your profile to check your eligibility to get an unsecured education loan. 

Step 3: After performing a thorough analysis of your profile, you will be informed about all the lenders you can take an unsecured loan. 

Step 4: After choosing a lender from the list of lenders, you will be provided with a checklist of documents. 

Step 5: You will then be sent a link to the WMS-secured document portal. Upload all the required documents in the encrypted portal. 

Step 6: After you submit your documents your profile will be logged in and you will be told the result of your application in 2-6 days. 

Step 7: You then need to sign the loan agreement and receive your sanction letter.

Issues faced by students when approaching the banks directly for an unsecured loan

• When a lender is approached directly, alternative unsecured education loan products are not explored. 
• A comparison of all the possible lenders is not provided. 
• Students often end up feeling confused about the application process as it is not explained clearly. 
• No help is provided post-loan sanction. 

Here are some benefits you get when you process your unsecured education loan with us!

● Automatic 0.5% reduction in ROI: As, WeMakeScholars is an initiative funded and supported by the Ministry of IT, Govt of India under the Digital India scheme you automatically receive a 0.5% reduction on your ROI on your unsecured education loan.

● Negotiation: We can further reduce the ROI by upto 2% by negotiation in addition to the 0.5% reduction depending on your profile and the university. There have been many cases where the interest rate was reduced from 14% to 12% upon negotiation.

● Cashback: Upon disbursement of your loan you’ll receive a cashback of Rs. 3000 as a thank you for supporting the Digital India campaign. 

● Profile Analysis: You will be provided with a list of all the possible lenders after a thorough analysis of your profile. This won’t be the case when a lender is approached directly. 

Below provided are the documents required to acquire an unsecured education loan for Seeking higher education in Ireland

The rate of interest for an unsecured education loan starts at around 11% and as we already know that for most unsecured loans full simple interest is charged during the moratorium period. Considering these criteria the EMI payment schedule would look the following. 

Loan amount: 22,00,000

Rate of Interest: 11%

Repayment tenure: 10 Years

Grace period: 6 months

You can receive funding of upto 1.5 Crores at an interest rate of 10.25% for your academic expenses by going through secured loans, which are mostly offered by public banks, you don’t have to pay any interest during the moratorium period

• State Bank of India 
• Bank of Baroda 
• Karur Vysya Bank 
• Union Bank of India
• IDFC Bank 
• Axis Bank
• ICICI Bank
• IDFC Bank
• HDFC Credila 
• Incred 
• Avanse 
• Auxilo

Step 1: Start your education loan process by requesting a callback from us.

Step 2: You will shortly receive a call from one of our financial officers who will enquire about your basic details and send you the common application form

Step 3: Based on the details provided by you, the financial officer will analyze your profile and give you a comparison of all the lenders you can get a loan from. 

Step 4: After you pick a lender to process your loan from, you will be given a checklist of documents, according to which you need to submit the documents to the bank branch nearest to you. 

Step 5: Your loan application result will be told to you within 15-20 days. 

Step 6: After which, you need to sign the loan agreement and receive your sanction letter.

Issues faced by students when approaching the banks directly for a secured loan 

• The average sanction time for an education loan in public banks is around 2 months.
• As most public banks are still not very technologically advanced most of the paperwork has to be done manually. 
• Students end up taking numerous trips around the bank as there is no checklist of documents provided. 
• Public banks usually face difficulties when they have to deal with a multi-city case as they do not have the proper expertise to handle it. 

All the services provided by us at WeMakeScholars are completely free of cost as we are an initiative that is funded by the Ministry of IT under the Digital India scheme.

• Convenient Process: From filling in the application form to receiving your letter of sanction, you can finish completing the whole process from the convenience of your own home when you apply for your secured education loan through WeMakeScholars.
• Lesser processing time: We reduce the time it takes for your education loan to get processed from 2 months to 20 working days 
  Expertise: With the expertise of dealing with thousands of cases on a daily basis we are sure to find a solution no matter how complicated the case might seem. 
• Multi-city cases: Multi-city cases are cases where the permanent living address and the current living address are not the same. Banks usually reject these kinds of cases. But don’t worry if that is your case. We have experience dealing with many multi-city cases.
• Competitive interest rates: With multiple lenders on the platform, WeMakeScholars can offer competitive interest rates, which can save you money over the life of your loan.

In order to avail of a secured student loan you need to have all the applicant and co-applicant documents previously mentioned and the following property documents.

1. Property Title Deed 

2. Registered Sale Agreement / Gift Deed / Will

3. The original receipt of registration for the above-mentioned agreement

4. If applicable, a Letter of allotment by the Municipal Corporation / Authorized Govt. Authorities like MHADA, CIDCO, HUDA, DDA, JDA, GIDC, etc. 

5. Link documents for 30 years or Past chain of sale deed establishing title or EC is required.

(If you own the property for more than 30 years, then the previous sale deed is enough.)

6. The newest property tax bill and Latest electricity bill bearing the same address 

7. A Copy of the municipality-approved building plan or plot layout.

Each city has its own list of document requirements. To know more about the city-specific documents required for a collateralized loan contact us by requesting a callback from the WMS team.

Considering that the interest rate for secured loans starts at 8.55% and that you are given an option to not pay anything during the moratorium period the following Amortization table has been made. 

Loan amount: 60,00,000

Rate of Interest: 8.55%

Repayment tenure: 15 years

Tuition fee: In order to receive the confirmation letter for Ireland, the student has to pay the first-year tuition fee before applying for the student VISA. This expense is covered by the student loan 

Living expenses: Living expenses of 7000 Euros have to be shown as proof of funds towards living expenses before applying for the student VISA 

Other expenses covered by the education loan for Ireland Include:

• Accommodation fee 
• Library fee
• Laboratory fee
• Examination fee
• Cost of books 
• Cost of uniform 
• Miscellaneous expenses

Scholarships for studying in Ireland  

Credila education loan for Ireland for girls

HDFC Credila offers Unsecured, secured, and partially secured loans up to 40 Lakhs at interest rates starting from 9.5%. By going through WeMakeScholars you can further reduce the interest rate by upto 2%

EliteScholars

EliteScholars is an initiative started by WeMakeScholars whose aim is to provide students aspiring to pursue their higher education in Ireland. It primarily focuses on financing STEM (Science, Technology, Engineering, Mathematics) courses. 

Key features of Elite Scholars

• No financial co-applicant required 
• You will receive the loan sanction letter 
• 100% of the loan requirement is met

Education loan for MS in Ireland

provides the master’s degree in courses and research-based programs. You will be able to get both secured and unsecured loans for an MS in Ireland at an interest rate of 8.55% p.a.

Education loan for MBA in Ireland

Ireland offers MBAs in many specializations such as HRM, marketing, finance, project management, healthcare, sales, etc. Both secured and unsecured loans which can finance upto 1.5 cr can be taken out for pursuing an MBA in Ireland

All the banks have their list of institutes/ universities for which unique loan products are available. Many institutes from Ireland are on the list. To know if your university is present in any of these lists talk to the financial officers at WeMakeScholars by requesting a callback from us.

You can watch this video to learn more about the eligibility requirements, doucmentation, interest rates and reapyment plans. will have a comprehensive understanding of the entire process of obtaining an education loan for Ireland. From eligibility requirements to documentation, interest rates to repayment plans, we will cover every aspect of the process. By the end of the video you will have a comprehensive understanding of the entire process of obtaining an education loan for Ireland.