Explore and compare education loan options from top banks to fund your international education.
Banks like ICICI Bank and Axis Bank offer education loans at highly competitive rates.
They provide you with customized repayment plans with long tenures of up to 15 years.
Banks offer a moratorium period that delays EMIs, allowing you time to settle down.
You can get funding for tuition fees, living expenses, travel, and even study materials.
Most banks offer flexible interest rates that are more affordable than other options.
Upto 1.5Cr
10.25% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1.25%
Upto 1.5Cr
10.5% - 13%
Secured: Upto 3 weeks Unsecured: Upto 1 week
0.75% - 1.25%
Upto 85L
11% - 12.75%
Upto 1 week
0.75% - 1.25%
Upto 1Cr
11.25% - 12.75%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1.25%
Upto 75L
11% - 12.75%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.85% - 1%
Upto 1Cr
10.75% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1%
Upto 3Cr
9.25% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1%
Upto 1Cr
9.5% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1%
Upto 75L
11.25% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1%
Upto 1.5Cr
9.25% - 12.5%
Secured: Up to 3 weeks Unsecured: Up to 1 week
0.75% - 1%
Upto 1.5Cr
8.25% - 11%
Secured: Up to 3 weeks Unsecured: Up to 2 weeks
Secured: Rs. 20,000 Unsecured: Rs. 10,000
Upto $220k
8.47% - 13.5%
Automated process
500 USD + 4%
Upto $100k
9.5% & 9.99%
Up to 1 week
1% + 2%
Upto $100k
10.5% - 12.75%
Up to 1 week
200 USD + 2%
Upto $100k
9.99% - 14.99%
Automated process
6.50%
GradRight helps students secure the best education loans for higher education abroad. We simplify the loan application process and connect students with 15+ lenders with tailored financial solutions . Here is what our clients say:
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ICICI Bank education loans offer competitive interest rates. It is one of the largest private sector banks in India and offers loans up to ₹ 3 crore.
Here’s a detailed breakdown of the eligibility criteria:
You may need to offer collateral when you avail of an education loan. A collateral loan requires the pledging of an asset like a house, property, or fixed deposit. Usually, shares, mutual funds, and jewelry are not accepted as collateral.
Some banks offer collateral-free loans. Since it is riskier, banks charge a slightly higher interest rate for lack of collateral. ICICI Bank offers collateral-free education loans up to ₹ 1 crore.
Education loan interest rates are determined by a combination of factors. These include a base rate such as the repo rate and a spread.
The repo rate is the rate at which the Reserve Bank of India lends to commercial banks. Currently, it stands at 6.25%.
The spread means the extra the commercial bank charges its customers on top of the repo rate. The spread is determined by the bank’s operational cost, the customer’s creditworthiness, the type of loan, and other factors.
Non-Banking Financial Companies (NBFCs) are financial institutions that offer educational and other loans. But they do not have a banking license. This doesn’t make any difference to the end user and taking an educational loan from an NBFC is the same as one from a bank.
These are some of the top NBFCs in India that offer educational loans:
The loans they offer have the same features, such as:
A moratorium period is a temporary respite of loan repayments. A postgraduate course abroad typically lasts 1-2 years. The student cannot start repaying the month after the course ends. First, they have to search and find a job, change city, work for a few months, and only then are they in a position to start paying EMIs.
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