Find the Best Education Loan Interest Rates for Studying Abroad
Get the lowest rates from top lenders to fund your overseas studies without stress.
What Are Education Loan Interest Rates?
Education loan interest rate is the charge you pay to borrow money to finance your studies. These rates determine the extra amount you repay over the principal loan.
Interest rates vary based on the bank, loan amount, tenure, and loan type.
Secured loans (with collateral) usually have lower interest rates than unsecured loans.
Government banks often offer lower interest rates compared to private lenders.
Your co-applicant’s financial profile can impact the interest rate you get.
Comparing multiple lenders helps you find the best student education loan interest rate.
Why Education Loan Interest Rates Matter
Loan Repayment
A lower interest rate means you pay less total interest. This makes the cost of repayment much cheaper.
Loan Affordability
A lower education loan for abroad interest rate results in smaller monthly EMIs . Thus, it makes repayment more manageable and affordable.
Eligibility Impact
Lenders may offer a lower foreign education loan interest rate based on your academic profile, co-applicant, or course.
Key Factors Influencing Your Education Loan Interest Rate
Banks decide education loan interest rates vary based on multiple factors. Understanding these helps you compare education loan interest rates. That’s how you can find the lowest education loan interest rate in India.
- Type and value of collateral
- Loan amount and repayment tenure
- Borrower or co-applicant’s credit score
- Policies of the chosen bank or NBFC
- University ranking and course demand
- Co-applicant’s income and financial stability
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%
How to Secure the Best Education Loan Interest Rate for Studying Abroad?
Build a higher credit score to get a lower education loan interest rate.
Compare education loan interest rate offers from multiple lenders.
Get a collateral-backed loan as it gives lenders security against the loan amount.
Choose a financially strong co-applicant with a stable income and good credit history.
Look for special schemes and discounts for students offered by many lenders.
Success Stories from Students Who Got The Lowest Student Education Loan Interest Rate
200,000+
students assisted
₹16,300 crore
loan requests processed
₹2,000 crore
disbursed in loans
Apply for a loan at the most competitive interest rate today.
Frequently Asked Questions
What is the average education loan interest rate for studying abroad?
The average interest rate for education loans to study abroad is between 7% and 10%. But the rate you get can be different based on the bank or lender, your credit score, and the type of loan.
How can I get the lowest education loan interest rate for studying abroad?
- Build a good credit score.
- Choose a secured loan backed by collateral.
- Choose a co-applicant with a good credit history or a stable job.
And don’t forget to use GradRight to compare interest rates from 15+ lenders to find the best offer.
Which bank offers the best education loan interest rate for abroad studies?
There’s no single bank that always has the best interest rate for everyone. Different banks give different rates depending on your profile. To find the best rate for you, it’s a good idea to compare offers from many lenders. You can do this easily on GradRight, where you can check rates from over 15 lenders.
What’s the difference between fixed and floating education loan interest rate?
A fixed rate stays the same throughout your tenure, so your EMI won’t change. A floating rate links to benchmarks like MCLR, so your education loan interest rates can go up or down. Choose fixed for predictability and floating if you expect rates to fall.
How do you use education loan comparison tools to pick the best rate?
Enter your loan amount, tenure, and preferred rate type into the education loan comparison tool. It shows side-by-side abroad education loan interest rate offers from multiple lenders. You can filter by lowest EMI, best spread over base rate, or lowest study loan interest rate.
Are foreign education loan interest rates different from Indian lenders’?
Yes. Foreign education loan interest rates often reflect international credit benchmarks and may include currency-risk premiums. Indian banks typically price loans on domestic MCLR or RBI repo rates. Always compare both to see which education loan for abroad interest rate gives you the best overall cost.
