How can I get an education loan to study abroad?

Asked by Aswathy about 1 year ago

Answers 1
Divyakshi  Gupta

Divyakshi Gupta

Study Abroad Expert

I understand getting an education loan might look like a difficult task and getting accurate information about the banks offering study abroad loans, loan amount, interest rate etc. can be a different hassle altogether. Don’t worry. I have mentioned all the key information about education loans to study abroad.  

Axis Bank:

Interest Rate        13.70% p.a. onwards

Maximum Loan Amount        Rs.20 lakh

Maximum Tenure        15 years

Processing Fees        At the discretion of the bank

 

Bank of Baroda:

Interest Rate        Up to 9.85% p.a.

Maximum Loan Amount        Rs.80 lakh

Maximum Tenure        15 years

Processing Fees        Nil


Canara Bank:

Interest Rate        Up to ongoing one-year MCLR+1.50 %

Maximum Loan Amount        As per eligibility

Maximum Tenure        15 years

Processing Fees        Nil


Federal Bank:

Interest Rate        Up to 10.05% p.a.

Maximum Loan Amount        Rs.20 lakh

Maximum Tenure        15 years

Processing Fees        Nil

 

HDFC Bank

Interest Rate        9.55% p.a. onwards

Maximum Loan Amount        Rs.30 lakh

Maximum Tenure        15 years including moratorium period

Processing Fees        Maximum of 1% of the loan amount or minimum of Rs.1,000 whichever is higher

 

State Bank of India (SBI):

Interest Rate        8.65% p.a. onwards

Maximum Loan Amount        Rs.1.5 crore

Maximum Tenure        15 years

Processing Fees        Rs.10,000

 

Documents Required to avail an education loan


Liabilities and assets of all the borrowers.

Proof of identity.

Proof of address.

Income Tax Returns that are less than 2 years old.

Passport-size photographs (two).

Foreign exchange permit.

Letter that confirms the scholarship.

Course expenses.

Admission proof.

Relevant mark sheets.


If you are still confused and want more details on how to apply for a loan, what documents would be required etc., you should directly get in touch with experts for FREE. They will help you with all the information that you need and guide you through the complete loan process. 

Let me know if this helped and if you want any more information from my end. 


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