Good news for students dreaming of studying at top universities abroad! With education loans becoming more affordable, the high costs of tuition, accommodation, and travel are no longer a barrier. Leading Indian banks are now offering attractive education loan schemes that can help turn your dream into reality.
Major banks such as State Bank of India (SBI), HDFC Bank, ICICI Bank, and Punjab National Bank (PNB) are providing education loans at interest rates starting from just 8.25%. Students with a strong credit profile or a co-applicant (guardian) with a good credit score can even avail of additional interest rate discounts, making the loans even more affordable.
Depending on your course and the university you’re applying to, loan amounts can range from ₹20 lakh to ₹1.5 crore, ensuring that all your education-related expenses are covered — from tuition fees to living costs.
To make the process smooth, students are advised to keep their admission letter, academic mark sheets, identity and address proof, and income documents of the co-applicant ready before applying.
Another key benefit of these education loans is their flexible repayment option. Students are not required to start repaying the loan immediately after completing their course. Banks typically offer a moratorium period of 6 to 12 months to allow time for job placement. Additionally, the Government of India provides interest subsidies for eligible students under specific schemes.
Applying for an education loan has never been easier. You can apply online through the bank’s website or visit the nearest branch to get detailed guidance from the loan officers.
With these new education loan offers, your dream of studying abroad is now well within reach!