Top Education Loans Providers in India for Studying Abroad
Here are some of the top education loan providers in India for studying abroad:
- HDFC Bank: HDFC Bank provide education loans for studying abroad with a maximum loan amount of up to INR 20 lakhs. The bank provides loans even before the student secures admission to the university, helping to avoid last-minute hassles.
- ICICI Bank: ICICI Bank provide education loans of up to Rs 1 crore for international courses, with interest rates starting at 9.50% per annum. Various collateral options, such as property, fixed deposits, and cross collateralisation with existing mortgage loans, are accepted.
- State Bank of India (SBI): SBI provide education loans for studying abroad with a maximum amount of INR 30 lakhs and a loan margin of 15%. The interest rate is up to 2% on the current base rate of SBI, and the repayment tenure can range from 1 year to 15 years.
- Axis Bank: Axis Bank provides study loans abroad with competitive interest rates. A margin of 15% needs to be arranged by the borrower if the loan amount exceeds INR 4 lakhs. The bank provide a maximum loan amount of INR 20 lakhs, covering various expenses like tuition, accommodation, and books.
- Punjab National Bank (PNB): PNB Udaan is the education loan scheme offered by Punjab National Bank for students going to study abroad. The bank provide loans for graduate, post-graduate, job-oriented professional, and technical courses. Borrowers need to provide a loan margin of 15% for loan amounts above INR 4 lakhs. PNB provide the base rate as the interest rate on loans taken for pursuing education at the top 200 universities worldwide.
Best Education Loan for Studying Abroad in 2024: How to Apply?
Individuals aspiring to pursue higher education abroad, yet facing financial constraints, now have the opportunity to secure funding for their academic pursuits. This article aims to delve into the intricacies of securing the best education loan in India for studying abroad.
From the application process and eligibility criteria to the requisite documentation, we will explore various facets of student loans, including the involvement of Indian banks in providing financial assistance and the significance of a guarantor.
Table of Content
- Advantages of Education Loan
- Eligibility Criteria for Education Loan
- Documents Required for Education Loan to Study Abroad
- Technical Documentation
- Legal Documentation for Education Loan
- Interest Rates of Different Banks for Education Loan
- Steps to Apply for Education Loan
- Top Education Loans Providers in India for Studying Abroad
- Study Abroad Education Loan from NBFCs
- Crowd Funded Companies as Loan Providers
- Loan schemes offered by Indian banks
- UGC’s Educational Loan Scheme