The UK remains one of the most preferred study-abroad destinations for Indian students, thanks to its world-class universities, one-year master's programs, globally recognised degrees, and strong job opportunities.
In the 2022–23 academic year, 173,190+ Indian students enrolled in UK universities a 39% increase from the previous year. With tuition and living costs averaging ~GBP 35,000 for a one-year master’s program, a study abroad education loan for UK helps you fund tuition, housing, visa, and other expenses and also strengthens your UK student visa approval chances.
With PayStudy, you can compare lenders, get expert guidance, and secure a low-interest overseas education loan with a fast digital process.
Studying in the UK involves two key expenses which is the tuition fees and living expenses.
| Program | Average Fees (GBP) |
|---|---|
| Undergraduate Programs | £20,500 – £45,000 |
| Master’s / MS Programs | £19,000 – £58,000 |
Tuition varies by course and university. STEM, business, and healthcare programs are typically higher.
| Expense | Estimated Cost (GBP) |
|---|---|
| Accommodation | £500 – £1,000 |
| Utilities | £50 – £100 |
| Groceries | £150 – £250 |
| Transport | £30 – £80 |
| Mobile & Internet | £10 – £30 |
| Miscellaneous | £100 – £200 |
Tip: The UK allows part-time work while studying and helping reduce living expense burden.
There are two primary types of student loans for studying in UK:
Requires collateral such as:
Does not require collateral and is ideal for students without property security.
International lenders also offer UK loans without collateral and without co-applicant.
| Lender | Max Loan Amount | Interest Rate | Margin |
|---|---|---|---|
| SBI Global Ed-Vantage | Up to ₹3 Crore | ~9.65% (girls), ~10.15% (boys) | 10% |
| Union Bank | Up to ₹1.5 Crore | ~9.25% – 9.75% | 10%–15% |
| Lender | Max Loan Amount | Interest Rate | Margin |
|---|---|---|---|
| Axis Bank | Up to ₹50L | 11% – 13.50% | 5% |
| ICICI Bank | Up to ₹50L | 10.85% – 12.50% | 0–15% |
| IDFC First | Up to ₹35L | 11.75% – 13.25% | Nil |
| HDFC Credila | Up to ₹40L | 12% – 13% | Nil |
| Auxilo | Up to ₹40L | 12.50% – 13.50% | Nil |
| InCred | Up to ₹40L | 12.50% – 13.50% | Nil |
| Avanse | Up to ₹40L | 12.50% – 13.50% | Nil |
| Prodigy Finance (Global) | Up to $100,000 | ~12% – 14% | Nil |
PayStudy helps you compare these lender options and choose the best study abroad loan platform experience based on your profile.
Your education loan for international universities can cover:
Tip: Choose partial disbursement so interest applies only on the amount used.
To qualify, students typically need:
Programs with strong career prospects improve approval chances.
Keep these ready for faster approval:
PayStudy provides a personalized digital checklist for smooth uploads.
PayStudy ensures fast education loan approval without running to multiple banks.
| Lender | Tenure | Moratorium | Repayment Type |
|---|---|---|---|
| SBI | Up to 15 years | No payment | Simple Interest |
| Union Bank | Up to 15 years | No payment | Simple Interest |
| Axis Bank | Up to 15 years | SI/EMI | EMI |
| ICICI | Up to 10 years | SI/EMI | EMI |
| IDFC First | Up to 12 years | PSI/SI/EMI | PSI/SI/EMI |
| Credila | Up to 15 years | PSI | PSI |
| Auxilo | Up to 15 years | SI | SI |
| InCred | Up to 15 years | PSI/SI | PSI/SI |
| Avanse | Up to 15 years | PSI/SI | PSI/SI |
| MPOWER | Up to 10 years | SI | SI |
| Prodigy | Up to 15 years | SI | SI |
| Scholarship | Highlights |
|---|---|
| GREAT Scholarship | Up to £10,000 for Indian students |
| Commonwealth Scholarship | Fully funded — tuition + stipend + airfare |
| Chevening Scholarship | Full scholarship for future leaders |
| St Andrews Excellence Scholarship | Merit-based award for high achievers |
Scholarships + low-interest overseas education loan can reduce your total cost significantly.
UK
USA
Ireland
Canada
France
Australia
SBI
Union Bank
BOB
PNB
Yes Bank
Idfc Bank
Icici Bank
Axis Bank
Credila
Avanse
Mpower
Incred
Auxilo
Poonawalla
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