Best Education Loan Providers in India to Study Abroad (2026)

Do you know about the top education loan providers in India for studying abroad? Government and private sector banks and some NBFCs are education loan providers in India. Eligible students can apply to get a study loan with the required documents to finance their higher studies in India or abroad.

If you are thinking of moving abroad for higher studies, then you must be looking to arrange funds. Financing is one of the most challenging and important stages of planning to study abroad. Fortunately, many education loan providers in India offer study loans with competitive interest rates. Also, it offers benefits like flexible repayment terms and attractive features to help students.

Leading government banks in India, like SBI or ICICI Bank, and NBFCs offer education loans to study abroad. Terms and conditions vary for every bank. All your higher education expenses, including tuition and living costs, should be covered by the best education loan in India. Additionally, a low interest rate will help you save money in the long run.

Here, we will discuss both private and government education loan providers in India.  So, you can select the most suitable education loan offered by top education loan providers and find the best option for your needs.

Top 10 Education Loan Providers in India for Studying Abroad

Check out the list of the 10 best education loan providers in India. These lenders offer up to INR 2 to 3 crores as a study loan to finance higher studies. The following matrix compares interest rates, maximum loan limits, and collateral requirements for the leading study abroad loan lenders in India.

State Bank of India

SBI offers education loans to pursue postgraduate degrees in nations like Italy, Russia, the United States, the United Kingdom, Finland, Austria, Norway, Poland, Denmark, Germany, Ireland, Spain, New Zealand, Canada, Singapore, etc.

The SBI education loan for abroad studies covers expenses like tuition fees, book costs, and exam fees.

As one of the leading education loan providers in India, institutions like SBI and Credila offer tailored solutions for students. Compare their offers below. The borrower has to submit the college admission letter, completed loan application form, course costs, co-applicant details, and other KYC documents to the bank.

Highlights of SBI Education Loan for Abroad

• Up to INR 1.50 crore in loans, with a minimum loan amount of Rs. 7.50 lakh.
• Favourable interest rate
• Quick online application process
• Loan sanction before I-20/Visa
• Repayment through EMI up to 15 years
• Tax benefit: Under 80(E)
• SBI offers a moratorium period or repayment holiday of 6 months after the course completion.
• The application processing fee is Rs 10,000

Credila Financial Services

HDFC Credila is a popular NBFC education loan provider in India. It specializes in helping students fund their dreams of studying in India or moving across the globe. Credila is known for offering customized education loans that can cover up to 100% of your total costs. This makes it a top choice for a study abroad loan from Credila.

Things Covered Under Credila Education Loan

A Credila education loan is designed to take care of every small and big expense. It covers:

• Full Tuition Fees and examination fees.
• Living Expenses, including hostel and food costs.
• Study Materials like books, laptops, and lab equipment.
• Travel Costs, including airfare to your destination.

If you are looking for an education loan for studying abroad in India, here are the key details for Credila:

Axis Bank Education Loan for Abroad Studies

Axis Bank is a top choice for Indian students dreaming of a degree from a foreign university. Whether you are planning for a Master’s in Canada or an MBA in the USA, Axis Bank offers high-value education loans with a simple process.

Key Highlights of Axis Bank Loan

Under Axis Bank education loan, here are the key details you need to keep in mind:

• Loan Amount: Get loans starting from INR 50,000. For top universities, you can even get up to INR 1 Crore without any collateral (security).
• Total Coverage: The loan covers 100% of your expenses, including tuition fees, hostel stays, books, and even your travel tickets.
• Quick Approval: Once your papers are ready, the bank can approve and send the money in just a few working days.
• Easy Repayment: You get a long time (up to 15 years) to pay back the loan. There are no extra charges if you pay it back early.

Punjab National Bank

PNB Udaan is a special education loan scheme for Indian students with great academic records who are planning to study abroad. The loan is available for students who have been admitted for graduate or post-graduate courses, varying from diplomas, job-oriented professional or technical courses, CIMA/CPA courses, etc. The PNB loan covers university fees, travel expenses, exam fees, lab fees, library fees, book/equipment fees, and other related expenses. 

Highlights

• Fees reimbursement paid within 6 months might be taken into consideration on the individual merits of the case
• Margin: Up to Rs 4 lakh - None, Above Rs 4 lakh - 15%
• Maximum up to 15 years of repayment
• There are no payment charges

Eligibility

• Resident of India
• Should those who have received an admission letter or enrolled in a higher education program in recognised institutions outside India via an entrance exam/merit-based selection process after HSC.

Bank of Baroda

For MBA, MCA, MS, and other recognised courses that promote employment generation, a Baroda Scholar Loan is offered. Students who are heading abroad for professional or technical study have the option to apply for an education loan under the Baroda Scholar Loan programme. The loan limit for specified institutes is Rs 80 lakhs, and for non-specified institutes is Rs 60 lakhs. 

Highlights of the Bank of Baroda education loan for abroad

• Processing fees: 1% (Maximum Rs. 10,000) for loans above Rs. 7.5 lakhs
• For up to Rs 7.50 lakh, there are no processing fees
• No margin on loans up to Rs. 4 lakhs
• Free debit card
• There will be no charges for documentation
• No security up to Rs 7.50 lakh

Repayment Tenure: Loans taken up to Rs. 7.5 lakhs can be repaid within 10 years, and loans above Rs. 7.5 lakhs can be repaid within 15 years 

Borrowers can get a holiday or moratorium period of six months to one year after getting employment. Security is not required for loans below the amount of Rs. 4 lakhs. A third-party guarantee is required for loans between Rs. 4 lakhs and Rs. 7.5 lakhs and tangible collateral security are required for loans above Rs. 7.5 lakhs. 

Eligibility

• Should be an Indian citizen
• Should have obtained admission to professional/technical programs outside India via an entrance exam/merit-based selection procedure

ICICI Bank

ICICI Bank provides high-value commercial credit lines to finance comprehensive international studies, eliminating out-of-pocket expenses for students. ICICI Bank's student loan interest rate​ starts from Repo Rate + 3.75% onwards.

Key loan features:

• High-Value Capital: Disburses up to INR 3 Crores for approved international education programs.
• Base Rate Indexing: Loans are transparently linked directly to the prevailing Repo Rate plus a 3.75% baseline spread.
• Collateral Mandate: Requires 100% tangible collateral security for all loan configurations exceeding INR 7.50 Lakhs.

IDBI Bank

The IDBI education loan covers university fees, travel, exam fees, lab fees, library fees, the cost of computers, book/equipment fees, and other related expenses. IDBI Bank sanctions loan amount according to the requirement of the borrower, with no security on loans below Rs. 4 lakhs.  

Highlights of IDBI Bank for Overseas Education Loan

• Maximum Loan: Up to Rs. 30 lakhs.
• Interest Rate: 9% (up to 7.5 lakhs) and 9.5% (above 7.5 lakhs). 0.5% concession for female students.
• Repayment: Up to 15 years after the moratorium period.
• Documentation: Check that you have all the required documents for the education loan.

Avanse Financial Services

Avanse Financial Services offers Avanse Education Loan to students who want to study in India or abroad. Borrowers must submit their KYC documents, course fees, collateral documents, income documents, etc. to borrow an Avanse education loan. This loan covers expenses like tuition fees, travel costs, living expenses, books /equipment fees, and other related expenses. There are some conditions that you need to follow.

Highlights

• The loan will get sanctioned within 72 hours.
• Students can choose between secured and unsecured loan options.
• Avanse Education loan interest rate starts from 10.25%.
• The repayment option is flexible.

Union Bank of India

The Union Bank of India education loan provides financial support to students holding excellent academic qualifications in order to pursue technical/higher/professional education in India or abroad. It should be noted that it is mandatory for the parent (s) of the applicant to apply as a co-applicant. If the student is married, his/her spouse/parent (s) or in-laws can act as co-applicant (s).

Courses covered include PhD courses, Graduation/post-graduation degree courses, CIMA, London, CPA, USA (and other similar institutes) conducted certified degree courses. Please note that overseas Diploma courses won't be covered.

Eligibility

• Applicant must hold Indian nationality
• Applicant should have been accepted in an Indian institution or abroad for technical/higher/professional education by clearing the relevant exam and selection procedure
• No maximum or minimum age criteria have been set for this

Highlights

• No minimum loan amount has been fixed for the loan that can be approved under the education loan scheme.
• Only after considering the account margin norms will the need-based finance meet the expenses.
• Expenses covered include hostel charges, tuition fees, examination/library/lab costs, the insurance premium for the student borrower, caution deposit/building fund or refundable deposit, books/equipment/uniforms purchase, computer/laptop costs, travel charges, admission acceptance fee, and other expenses.
•  Students will have to repay the loan amount within 15 years (after the course and moratorium period).

Documents Required for an Education Loan

Most banks and NBFCs require documents from both the student and the co-applicant (usually a parent, guardian, or spouse) before approving an education loan.

Student Documents

• Valid passport
• PAN Card and Aadhaar Card
• Recent passport-size photographs
• 10th, 12th, and graduation mark sheets (if applicable)
• GRE, GMAT, SAT, IELTS, or TOEFL scorecards (if required)
• University admission or offer letter
• Course fee structure and expense details
• Scholarship or fee waiver letter (if applicable)
• Gap certificate (if applicable)

Co-Applicant Documents

• PAN Card and Aadhaar Card
• Recent passport-size photographs
• Bank statements for the last 6 months
• Salary slips or income proof
• Income Tax Returns (ITR) for the last 2 years
• Business registration documents (for self-employed applicants)

Collateral Documents (For Secured Loans)

• Property ownership documents
• Fixed Deposit (FD) receipts
• Insurance policies with surrender value
• Government bond certificates

Note: Document requirements may vary by bank, loan amount, and study destination. Always check the latest guidelines before applying.

What to Do if Your Education Loan is Rejected?

Sometimes, you may face rejection. Don't worry, this is not the end of your journey. There are some other issues that you can face in the education loan process. Here is how you can handle it. These tips are used by many students and their parents for selecting the best education loan.

If you have any queries or want to ask anything related to this, feel free to connect with us. Also, you can mention your query in the comment box below. Also, you can apply for education loan through Shiksha Study Abroad.