Get the Perfect Student Loan to Study Abroad
What Are Student Loans?
Student loans help cover tuition fees, living expenses, travel, and other educational costs.
You can choose from a public sector or private sector bank or an NBFC.
Student loans are secured or unsecured loans based on your financial situation.
Applicants enjoy repayment tenures from 1 to 15 years, with grace periods.
You can save taxes under Section 80E when you repay the student loan.
Various Types of Student Loans
Secured Education Loans
These student loans offer lower interest rates with collateral like property or fixed deposits.
Unsecured Education Loans
These provide funding without collateral but usually charge higher interest rates.
Subsidized Education Loans
Some loans are government-backed and carry interest subsidies.
Loans from NBFCs
NBFCs offer student loans with fast processing and attractive terms.
Eligibility Criteria for Student Loans
- Indian citizens between 18 and 35 years old
- They must have secured admission to a recognized college or university
- Good academic performance in previous exams (preferred)
- Students who have a co-applicant, usually a parent or guardian
- Proof of income or repayment capacity (from the co-applicant)
Bank Name
Loan Amount
Interest Rate
Processing Time
Processing Fee
Upto INR 2 Crore
9.95% - 12%
7 days
0.5 - 1 %
Upto INR 2 Crore
9.50% - 12.50%
10 days
0.75 - 1 %
Upto USD 200K
10.5% - 14%
7 days
100USD+ 5%
Upto INR 1.5 Crore
10.15% - 11.15%
20 days
INR 10,000
Upto INR 1.5 Crore
9.75% - 13%
14 days
0.75%
Upto INR 1.5 Crore
10% - 13%
7 days
0.85 - 1 %
Upto INR 1.5 Crore
10.50% - 13%
7 days
1%
Upto INR 1.5 Crore
10.50% - 13%
7 days
1%
Upto INR 1.5 Crore
11.5% - 13.5%
5 days
0.75 - 1 %
Upto INR 1.5 Crore
9.95% - 12%
7 days
0.5 - 1 %
Upto INR 1 Crore
9.95% - 12%
7 days
0.5 - 1 %
Upto INR 1 Crore
9.95% - 12%
7 days
0.5 - 1 %
Upto INR 2 Crore
9.95% - 12%
7 days
0.5 - 1 %
Upto USD 200K
9.95% - 12%
7 days
0.5 - 1 %
Upto USD 200K
9.95% - 12%
7 days
0.5 - 1 %
Plan Your Repayments with Our Student Loan EMI Calculator
Our Student Loan EMI calculator simplifies your financial planning. Just enter your loan amount, repayment period, and interest rate.
Check Eligibility
See if you qualify for a non collateral education loan based on your academic profile and university.
Compare Loan Options
Use our education loan calculator to estimate your EMI and find the best option.
Submit Documents & Apply
Choose the best loan option and secure funding for your studies abroad or in India.
Secure the Best Loan
Get approved, and the loan amount is disbursed to your university.
How to Apply for a Student Loan?
Here is a step-by-step guide to secure your education loan
Choose the Loan Provider
• Compare interest rates, repayment terms, and processing fees.
• Ensure you meet the age, academic, and co-applicant requirements.
Submit Required Documents
• KYC Documents
• Student Loan Application
• Admission Letter
• Financial Documents
• Collateral Documents
Loan Approval
• The lender reviews your student loan application and documents.
• Once approved, the loan amount is either: Paid directly to the university for tuition fees
• Or Transferred to your account for living and travel expenses.
Instant Loans for Students
Do you need urgent funds for tuition, visa fees, or living expenses? Instant student loans provide fast approvals with minimal paperwork.
Why Choose an Instant Student Loan?
Quick Approvals
Minimal Documentation
No Collateral Required
Flexible Loan Amounts
100% Online Process
Best Student Loan Apps to Apply for Loans Online
SlicePay
PaySense
mPokket
Pocketly
StuCred
Student Loan Options for Studying Abroad
Types of Student Loans for Studying Abroad
- Secured Student Loans – Require collateral
- Unsecured Student Loans – No collateral needed
- Government-Supported Loans – Offered under government schemes
- Loans from NBFCs – Quick processing, minimal documentation
Loan Amounts & Repayment Options
- Loan Amounts – Range from ₹10 lakh to ₹1.5 crore
- Repayment Tenure – Usually up to 15 years
- Interest Rates – Vary between 8% and 14%
Success Stories from our Students
Securing a student loan can be a game-changer for your education abroad. GradRight has helped thousands realize their dreams. Here is what they have to say.
200,000+
students assisted
₹16,300 crore
loan requests processed
₹2,000 crore
disbursed in loans
Compare student loan offers from 15+ lenders
Frequently Asked Questions
What expenses does a student loan cover?
Student loans cover many different types of expenses. These usually include:
- Tuition Fees
- Hostel/Accommodation Fees
- Examination Fees
- Library Fees
- Laboratory Fees
- Study Materials
- Travel Expenses
- Laptop/Computer Purchase
- Miscellaneous Expenses
What is the rate of interest applicable for an education loan?
Education loans for study abroad have two components. They are usually based on what is called the repo rate. It is the rate at which commercial banks borrow funds from the Reserve Bank of India. On top of the repo rate, banks charge an administration cost and profit margin known as spread.
Currently the repo rate is 6.25% and banks charge 3-7% spread making the interest rate about 9 – 14%. Of course there are a lot of variations between banks and the official website will offer the latest interest rates on study abroad loans.
What is a floating interest rate?
Student loans might have a fixed or floating interest rate. A fixed interest rate remains constant throughout the loan tenure. A floating interest rate changes based on market conditions. As the repo rate rises and falls, the floating interest rate varies.
What is the margin for a student loan in India?
Who is eligible for an education loan?
A resident Indian or an NRI is eligible for a student loan in India. Most banks require the applicant to be more than 18 years of age. The applicant also has to fulfill various other criteria such as admission to a recognized course, collateral and a co-applicant.
