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Studying abroad can involve significant expenses, including tuition fees, accommodation, travel, insurance and other living costs. An education loan can help Indian students finance these expenses without paying the entire cost upfront.
Education loans for overseas studies are available through banks and NBFCs, with secured and unsecured options depending on the student's academic profile, university, course, loan amount and co-applicant profile.
PayStudy is a trusted partner helps students compare suitable education loan options and assists with documentation, lender coordination and the loan application process.
For students from India, it is ideal for those planning to study in a foreign country and access better education and career opportunities without financial limitations. It supports individuals who are seeking global exposure and the freedom to build their own career path.
Perfect for international students who want to fund their own education and reduce financial burden on family. This approach helps students to manage expenses independently and focus on their academic and career goals.
Suitable for applicants who require assistance with tuition, living expenses, and other study-related costs. along with easy repayment options and manageable EMIs.
Helpful for those aiming for reputed global institutions with higher education costs but strong career outcomes.
Check the required documents for the applicant, co-applicant, and collateral (if applicable).
| Documents | Applicant | Co-Applicant / Parent / Guardian | Collateral (If Applicable) |
|---|---|---|---|
| Proof of Identity | Aadhaar, PAN, Passport, Voter ID, Driving License | Aadhaar, PAN, Passport, Voter ID, Driving License | – |
| Proof of Address | Aadhaar, Passport, Utility Bills, Bank Passbook | Aadhaar, Passport, Utility Bills, Bank Passbook | Property Documents |
| Proof of Admission / Bonafide Certificate | Admission Letter, Bonafide Certificate | – | – |
| Academic Records | 10th & 12th Mark Sheets, Graduation Mark Sheets | – | – |
| Income Proof | – | Salary Slips, Form 16, ITR, Bank Statements | – |
| Collateral / Security Documents | – | – | Property Documents, Fixed Deposit Receipts, Guarantor Documents |
| Passport-size Photographs | 2–4 photos | 2–4 photos | – |
| Loan Application Form | Filled Loan Application Form | Co-applicant signature if required | – |
Submit your profile and loan requirements through our simple online form.
Receive loan offers matched to your profile from top partners.
We help gather and verify all your required documents quickly.
Our experts handle coordination with banks/NBFCs for fast sanction.
Funds are sent directly to the university or your account as needed.
| Lender / Institution | Loan Type | Max Loan Amount | Interest Rate (Approx.) | Special Notes |
|---|---|---|---|---|
| State Bank of India (SBI) | Secured | ₹1.5 Crore | 9.95% – 10.65% | Lower rate for female students |
| Union Bank of India (UBI) | Secured | ₹1.25 Crore | 10% – 10.75% | 15-year repayment available |
| ICICI Bank | Unsecured | ₹50 Lakhs | 10.75% – 12.5% | Faster processing for Tier-1 universities |
| Axis Bank | Unsecured | ₹50 Lakhs | 11% – 12.75% | Pre-visa disbursement option available |
| Credila | Unsecured | ₹60 Lakhs | 11% – 13% | Flexible co-applicant policy |
| Avanse Financial Services | Unsecured | ₹40 – 50 Lakhs | 11% – 13.25% | Quick approval, minimal documentation |
| InCred Finance | Unsecured | ₹40 – 45 Lakhs | 10.75% – 12.75% | Tailored repayment flexibility |
| MPOWER Financing | International (USD) | Up to USD 100,000 | 12% – 14% | No co-applicant or collateral required |
| Prodigy Finance | International (USD) | Up to USD 100,000 | 11% – 13% | No Indian documentation needed |
We make the students' education loan process easy. Our team supports you every step of the way, we are here to give you clear information and a minimal amount of paperwork.
We work closely with leading banks and financial institutions to help students get quicker responses and improve their chances of loan approval.
If you are looking for a secured or un-secured education loan for abroad, we help you find out which banks would fit best with your course and university profile.
Our education loan assistance includes tuition fees, accommodation expenses, travel expenses, visa expenses, insurance expenses, and other study-related expenses overseas.
Along with education loan assistance, we also guide students with university admissions, financial planning, and visa-related documentation support.
We focus on clear communication, genuine guidance, and reliable support throughout your study abroad journey, helping students make informed financial decisions.
Indian students can generally explore two broad types of education loans: secured and unsecured loans for overseas studies.
| Feature | Collateral Education Loan | Non-Collateral Education Loan |
|---|---|---|
| Collateral | Required | Generally not required |
| Loan amount | Can be higher | Depends on lender/profile |
| Interest rate | May be lower | May be higher |
| Property/security | Required | Not generally required |
| Co-applicant | Usually required | Usually required |
| Best suited for | Higher funding requirements | Students meeting lender criteria |
Education loan repayment generally begins after the moratorium period, which usually covers the course duration and may include an additional period as per the lender's terms. After the moratorium, students typically repay the loan through monthly EMIs covering the principal and applicable interest. The repayment tenure and EMI depend on the lender, loan amount and applicant profile. Students should check the interest rate, repayment tenure, moratorium, prepayment terms and applicable charges before choosing a loan. PayStudy helps students understand suitable education loan options and repayment terms for studying abroad.
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