Get the Best Study Abroad Education Loan with GradRight

Discover unbeatable education loans for abroad studies from leading banks and financial institutions.

Begin Your Study-Abroad Journey With The Best Education Loan

An education loan for studying abroad covers tuition, accommodation, and living expenses—offering low interest rates, flexible terms, fast approval, and full support to help you achieve your academic goals.

Get access to loans from 15+ trusted lenders
Save up to ₹23 Lakhs in interest
Receive your loan approved in 48 hours
Access via a 100% online application process
Stake your claim to win scholarships and freebies worth ₹4 crore

A collateral-based education loan for studying abroad requires you to pledge assets like property or fixed deposits as security.

No need to pledge assets; get funding for studying abroad without property or fixed deposit security.

Plan Your Repayments With Our EMI Calculator

Enter your loan amount, interest rate, and tenure, and instantly see your estimated monthly installments. Our calculator tool helps you decide your loan amount and repayment schedule.

Enter Loan Amount (in INR)* Loan tenure in years

0 yrs 20 yrs

10 yrs

Interest Rate (%)

6% 15%

8.5 %

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EMI Amount: ₹0

Total cost of education loan: ₹0

Total interest paid: ₹0

Loan Amortization Schedule (Yearly/Monthly)

Compare Loan Providers for Your Abroad Education Loan

Apply

Fill out a brief application with your details and loan requirements.

Compare

Compare loan offers from multiple lenders based on several factors.

Secure the Best Loan

Choose the best loan option and secure funding for your studies abroad or in India.

Bank Name

Loan Amount

Interest Rate

Processing Time

Processing Fee

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%

Eligibility Criteria for Study Abroad Education Loan

To obtain a study abroad education loan, students must meet multiple criteria. These can vary slightly between banks and NBFCs granting education loans for studying abroad.

The applicant must be an Indian citizen.

Admission at a recognized institute abroad is mandatory.

A good academic record helps but is not essential.

The age limit is between 18 and 35 years.

Loans cover undergraduate, postgraduate, doctoral courses.

A parent, guardian, or sibling must always be a co-applicant.

FundRight Student Loan Success Stories

Behind every Indian student studying abroad, there is a story of determination and the right financial support. Our students have secured the best loan deals. They have been able to unlock opportunities without financial stress. Here are the best education loans available to students.

200,000+

students assisted

₹16,300 crore

loan requests processed

₹2,000 crore

disbursed in loans

Don’t settle for anything less than the best education loan

Frequently Asked Questions

What are the eligibility requirements for a study abroad education loan?

There are multiple eligibility requirements for a study abroad education loan. These vary between banks but usually include the following:

The applicant must be an Indian citizen.
The age limit is between 18 and 35 years.
The applicant must have secured admission to a recognized college or university abroad.
Some lenders prefer a good academic record for Class X and XII board exams.
For loans above a certain amount collateral may be required.
Co-applicant may be necessary for higher loan amounts.

Is collateral always necessary for securing a study abroad education loan?

While collateral is usually required for securing a study abroad education loan, it’s not always mandatory. Many banks offer education loans for study abroad without collateral. For instance, ICICI Bank offers collateral-free loans up to ₹ 1 crore. SBI Global Ed-Vantage offers collateral free loans of ₹ 50 lakhs for select institutions. Of course, the need for collateral depends on the specific lender and their loan policy.

What's the usual wait time for a study abroad education loan?

Usually, banks take several weeks to grant a loan. It is a complex process with verification of security and interviews. However, GradRight’s loan bidding platform has a unique single-window approach which ensures you can secure a loan in 48 hours, with offers from 15+ lenders.

How much loan amount can I get for studying abroad?

You can get substantial loans for studying abroad. ICICI bank lends up to ₹ 3 crore and SBI education loan for abroad does the same. Many banks such as Punjab National Bank do not explicitly state the quantum of finance. Instead, they have made education loans need-based i.e. students will receive the amount they require.

Are there tax benefits on an education loan for studying abroad?

Under Section 80E of the Income Tax Act,1961, you receive a deduction for the interest paid on your loan. There is no upper limit and you can claim the entire amount of interest as a deduction. You can also claim ₹ 150,000 deduction under Section 80C for tuition fees paid.

How do you choose the best education loan for study abroad?

To find the best education loan for study abroad, compare interest rates, repayment terms, and processing fees. Use a platform like GradRight to see multiple abroad education loan offers side by side. Look for flexible prepayment options and check if it’s a study abroad loan with minimal hidden costs.

What steps are involved in applying for an education loan for abroad studies?

First, shortlist lenders offering a study abroad loan. Gather your admission offer, academic transcripts, passport, and income proof. Complete the lender’s online form, upload documents, and schedule a verification call. Finally, sign the sanction letter to disburse your education loan for abroad studies.

What interest rates should you expect on an abroad education loan?

Interest rates on an abroad education loan typically range from 8% to 13% p.a. depending on the lender and your profile. Premium institutes or strong co-applicant credentials can secure lower rates. Always compare rates across education loan for study abroad and study abroad loan options before you decide.