Studying abroad is a life-changing opportunity, but it often comes with a high financial cost. Whether you’re planning to Study Abroad or pursue MBBS Abroad, education loans can ease the financial burden. Here’s a step-by-step guide to help Indian students secure an education loan in 2025.
Education Loan Options at a Glance
| Loan Type | Features | Best For |
| With Collateral | Higher loan amount, lower interest rate | Long-term courses like MBBS |
| Without Collateral | Based on creditworthiness | UG/PG courses under ₹7.5L |
| Government Schemes | Subsidized interest, moratorium period | Economically weaker sections |
| Private Lenders | Fast processing, flexible terms | Time-sensitive applications |
Eligibility Criteria for Education Loans
- Indian nationality with confirmed admission to a recognized foreign university.
- A strong academic background.
- Co-applicant (parent/guardian) with a stable financial background.
- Courses like MBBS Abroad, Engineering, MBA, etc., are eligible.
Documents Required
- Admission letter from a foreign university
- Academic records (10th, 12th, degree mark sheets)
- Income proof of co-applicant
- ID proof and address proof
- Visa and passport copy
- Collateral documents (if applicable)
Want expert help with your education loan for abroad? Contact us today for a free consultation and step-by-step guidance.
Top Banks & Lenders for Education Loans in India
- State Bank of India (SBI Global Ed-Vantage)
- Bank of Baroda
- Axis Bank
- ICICI Bank
- HDFC Credila
- Avanse
- InCred
- Auxilo
Key Loan Features to Compare
- Loan Amount: Up to ₹1.5 crore
- Interest Rates: 9%–13% (varies by lender)
- Repayment Period: 7–15 years
- Moratorium Period: Course duration + 6–12 months
Can You Get a Loan Without Collateral?
Yes. For loans up to ₹7.5 lakhs, many banks provide study abroad loans without collateral, especially for reputed universities. Lenders like HDFC Credila, InCred, and Avanse also offer non-collateral loans based on co-applicant income and student profile.
Tips to Increase Loan Approval Chances
- Apply early – 3–6 months before your course begins.
- Choose recognized universities and accredited programs.
- Maintain a good CIBIL score (for co-applicants).
- Have clear financial planning and purpose of study.
Conclusion
Getting an education loan for abroad studies in 2025 is now easier than ever with a wide range of public and private options. Whether you want to pursue a degree in Engineering, MBA, or MBBS Abroad, timely loan planning and the right documentation can turn your study dream into reality.
