Education loans for studying abroad
Most Indian students fund part of their studies with an education loan from a bank or NBFC. Secured loans need collateral such as property and usually have lower interest; unsecured loans rely on your admission and a co-applicant's income. Apply as soon as you have an offer, because the sanction letter is often used as proof of funds for the visa.
What types of loans are there?
| Type | Collateral | Typical features |
|---|---|---|
| Secured | Property or fixed deposits | Higher loan amounts, lower interest |
| Unsecured | None; co-applicant income assessed | Limited amount, higher interest |
| Government schemes | Depends on scheme | Interest subsidy for eligible students |
Documents usually needed
- Admission letter and fee structure.
- Academic records and test scores.
- KYC documents for student and co-applicant.
- Co-applicant income proof: salary slips, ITRs or business financials.
- Collateral documents for secured loans.
Step by step
- Compare lenders on interest, moratorium and processing fees.
- Apply with your offer letter.
- Receive the sanction letter and use it for your visa file if accepted.
- Disbursement is usually paid directly to the university.
Our role
We explain how loans fit your visa file and timeline. We do not arrange loans or receive commission from lenders unless disclosed to you in writing.
Frequently asked questions
Can I get an education loan without collateral?
Some banks and lenders offer unsecured loans up to a limit, usually at a higher interest rate and based on your admission and co-applicant income.
When should I apply for the loan?
Apply as soon as you have an offer letter, because the loan sanction letter is often used as proof of funds for your visa.