Education Loans for UK Studies | Student Loans

Education Loans for UK Made Easy

Explore the best, most affordable education loan to study in the UK and fund your dreams.

Why Choose the UK for Higher Education?

In 2023-24, over 88,000 Indian students chose the UK for higher education. Here’s why more and more students are applying for an education loan for Indian students in the UK:

The UK is home to globally recognized & affordable universities offering popular degrees.

Students can choose from a range of specialized courses and interdisciplinary programs.

With state-of-the-art facilities and innovative research centers, the UK fosters academic excellence.

A diverse environment helps students build international networks and gain global exposure.

Graduates from UK institutions are highly sought after by top multinational companies.

These factors make it easier for students to manage and repay their UK education loan.

Explore Education Loan Options for UK

The step one of planning your studies in the UK is selecting the right education loan. With GradRight, you can explore loan options designed for Indian students heading to the UK.

Education Loan for Masters in the UK

Special loan plans with flexible terms are available for Master’s students in the UK.

Education Loan for Indian Students in UK

UK education loans created exclusively for Indian students take into account your unique needs.

Collateral-Based Education Loan

Opt for a collateral-based education loan to access higher loan amounts at lower interest rates.

Collateral free education loan for UK

For those who prefer not to pledge collateral, unsecured education loans offer a faster approval process without the need for asset documents.

Compare Education Loan in the UK for Indian Students

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% - 13.50%

10 days

0.75 - 1 %

Upto USD 200K

10.5% - 14%

7 days

100USD+ 5%

Upto INR 1.5 Crore

10.15% - 11.15%

25 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

Upto INR 1.5 Crore

10.50% - 13%

7 days

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 %

Eligibility for UK Education Loan for International Students

Indian citizen with confirmed admission to a UK university

Age: 18-35 years

Strong academic record

Co-applicant (parent/guardian) required

Collateral (Needed for higher loan amounts)

UK Education Loan: Documents Required

Admission letter from a UK university.
Academic transcripts and certificates.
Valid passport, Aadhaar, and PAN card.
Co-applicant’s income proof and bank statements.
Collateral documents (if applicable)

Education Loan Repayment Terms and Other Considerations

Interest Rates

UK education loan interest rates vary depending on the lender. The presence of collateral, and the type of loan selected also affect the rate.

Moratorium Periods

Loan repayment usually begins after the moratorium period. This grace period covers the course duration plus 6 to 12 months post-graduation.

Tax Benefits

Interest paid on an education loan for the UK in India qualifies for tax deductions under Section 80E of the IT Act.

Hear from Students Who Secured Their Loans through FundRight

60,000+ Students Served

9.25% Starting Interest Rate

Up to 23 lakhs Savings on loan

Get a low-interest education loan for Indian students in the UK through a simple and hassle-free application process.

Frequently Asked Questions

Can I get an education loan in the UK?

You can definitely get an education loan to study in the UK. There are several places you can look for loans, like Indian banks, NBFCs, or even lenders based in the UK. If you’re looking for the best deal, GradRight’s loan bidding platform can really help. It lets you compare different loan offers quickly, and you can get offers within 48 hours. Plus, you might save up to 23 lakhs.

What is the education loan rate in the UK?

Interest rates vary depending on who you borrow from. Here’s the breakdown:

Indian banks: Usually charge between 8% and 14%.
Private UK lenders: Rates are typically between 5% and 10%, depending on the deal.

Each type of loan has its own details, so it’s a good idea to see which one fits your needs best. You can also use GradRight’s EMI calculator to figure out your monthly payments.

How much student loan will I get in the UK?

The amount you can borrow depends on things like your course, the university you’re going to, and the lender’s rules. Here’s what to expect:

Indian banks and NBFCs might lend up to ₹1.5 crore if you’re heading to a top university.
Private lenders could cover all your tuition and living costs.

What are the repayment terms for UK education loans?

When it comes to paying back the loan, it varies by lender:

Indian banks usually give you up to 15 years.
Private lenders might offer between 5 and 15 years.

Both these types of lenders also offer a moratorium period of 6 to 12 months post your course completion.

How do I apply for a UK education loan for international students?

Applying for a loan isn’t too complicated. Here’s what to do:

Pick the kind of lender you want (like an Indian bank, an NBFC, or a UK lender).
Gather the paperwork you’ll need, such as your university admission letter, proof of your finances, and your academic records.
Send in your application, either online or at their office.

If it’s approved, the lender will send the money based on the university’s payment schedule.

If you want the best possible deal, GradRight’s loan bidding platform is super useful. It lets you see multiple loan offers side by side so you can choose the one with the best rates.