Explore Undergraduate Loans by Bank
Compare interest rates, limits, and features from India’s top lenders and global NBFCs with a single, easy-to-use tool.
Why Choose a Bank Education Loan?
Explore reliable student loan options from trusted Indian and global lenders offering structured terms, lower rates, and tailored UG coverage.
More affordable than most private lenders with collateral
Flexible enough to support both secured and unsecured loans
Structured around a co-applicant model to increase approval chances
Aligned with subsidy schemes like CSIS for eligible students
Available from both Indian banks and international lenders .
Top Banks & NBFCs for UG Loans
Studying abroad requires careful financial planning. Here’s a breakdown of how much it costs to get an undergraduate degree in France.
Bank / NBFC
ICICI Bank
HDFC Credila
Avanse Financial
Axis Bank
Union Bank of India
Prodigy Finance
MPOWER Financing
Key Benefits
Secured loans up to ₹2 crore
Covers 5,000+ institutes in 64 countries
Disbursal possible in 3–5 working days
Funding up to ₹2 crore with collateral
Interest rates 8.75 – 10.85%
No collateral/co-signer loans
Fixed rates from 9.99%
Need-to-Know
Processing fee 0.5 – 1 % + GST
An India-based co-applicant is compulsory
Interest typically 12.5 – 13.5% (higher)
15% margin money
Slower sanction window (10-15 working days)
5% admin fee added to principal
5% origination fee capitalized into loan balance
Undergraduate Bank Wise Education Loan
Explore top Indian banks’ undergraduate loan options on GradRight. 200,000 students have already found tailored solutions with low interest and flexible terms.
200,000+
students assisted
₹16,300 crore
loan requests processed
₹2,000 crore
disbursed in loans
Find the best bank or NBFC loan for your undergraduate study abroad journey.
Eligibility Criteria and Documents for Undergraduate Loans
Your eligibility is determined by a combination of academic and financial factors. Prepare your documents in advance as you prepare to apply for an undergraduate education loan.
- Lenders require students to be at least 18 years old at the time of application.
- Admission must be confirmed or conditionally offered at a recognised undergraduate university.
- Most banks expect a minimum of 60% in Class 12, depending on the course and country.
- A co-applicant with steady income, usually a parent or guardian, is typically mandatory.
- Only full-time undergraduate programs in approved institutions are eligible for funding.
- A valid admission or offer letter from your university.
- KYC documents for both the student and the co-applicant.
- Income proof, bank statements, and ITRs of the co-applicant.
- A detailed fee structure from the university or college.
- Passport copy and visa (if already available).
Interest Rates, Processing Fees & Loan Limits
Use this quick comparison to get a sense of interest rates, loan caps, and processing timelines across top lenders. You’ll find options with and without collateral, along with timelines that can help you plan your application better.
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%
Apply for a Student Loan Easily with GradRight
Step 1: Fill Profile
Share your academic goals and funding requirements in one form.
Step 2: Get Matched
We’ll match you with top lenders based on your profile.
Step 3: Compare Offers
Review rates, processing time, and repayment terms before choosing
Step 4: Apply Online
Complete your application with the selected lender through GradRight.
Find the right undergraduate student loan based on your profile.
Frequently Asked Questions
Can I get a loan without collateral?
Yes, many lenders like Avanse, HDFC Credila, and Leap Finance offer non-collateral education loans. However, the amount approved may be lower, and interest rates can be slightly higher than secured loans.
Is my parents' income mandatory?
Yes. For most undergraduate education loans in India, a parent or guardian is required as a financial co-applicant. Lenders evaluate their income and credit profile to assess repayment capacity.
How long does it take for loan disbursal?
If documentation is complete and accurate, private lenders may disburse loans in 5–7 working days. Public sector banks usually take 7–15 days, depending on internal verification and approval cycles.
Can I apply before getting admission?
You can begin the loan process early and receive a pre-sanction letter. But the final loan disbursal typically requires a confirmed admission offer and fee structure from the university.
Are loans available for international UG programs?
Yes. Most Indian banks and NBFCs offer education loans for undergraduate courses abroad, covering tuition, living costs, and travel. Eligibility depends on the course, university, and applicant’s financials.
Which bank gives an education loan without collateral for abroad studies?
Lenders like HDFC Credila, Avanse, and Leap Finance are known for providing collateral-free education loans for studies in countries like the US, UK, and Australia, especially if you’re attending top-ranked universities.
Can I get an education loan with a low CIBIL score?
A low CIBIL score can affect approval. However, if the co-applicant has a strong credit history or if you provide collateral, some banks or NBFCs may still consider your application.
