Choose the Right Bank to Fulfill Your Study Abroad Dreams

Studying abroad IS a life-changing endeavor, offering opportunities and exposure to diverse cultures and knowledge. However, financing your international education can be a significant challenge. Fortunately, many Indian banks offer education loans tailored to support students pursuing their dreams of studying abroad. In this blog, we will compare the top Indian banks that provide overseas education loans, enabling you to make an informed decision.

State Bank of India (SBI):

The SBI is a well-regarded name in the Indian history of loans and banking. It offers an array of education loan schemes for students planning to study abroad. SBI’s “SBI Global Ed-Vantage” loan covers tuition fees, hostel expenses, and other educational-related costs. The SBI education loan to study abroad can go up to INR 1.5 crores, with attractive interest rates and flexible repayment options. The bank provides a hassle-free application process and requires minimal collateral for loans up to INR 7.5 lakhs.

HDFC Bank:

HDFC Bank, another leading financial institution in India, offers the “HDFC Credila Education Loan” specifically designed for students seeking international education. The loan covers a wide range of courses and institutions across the globe. HDFC Credila provides 100% financing, making it simpler for students to zero in on their ambitions without financial stress. The bank also offers competitive interest rates, easy application processes, and quick approval timelines.

ICICI Bank:

ICICI Bank’s “Education Loan for Abroad Studies” is a popular choice among students planning to study overseas.  The bank offers overseas education loans up to INR 1 crore with convenient repayment terms. ICICI Bank’s education loan covers tuition fees, travel expenses, and other necessary expenditures.

Additionally, the bank provides customized loan solutions based on the student’s course, institute, and financial requirements.

Axis Bank:

Axis Bank’s education loan for study abroad aims to support students in achieving their educational goals without any financial burden. The bank offers loans with flexible repayment options, allowing borrowers to start repaying the loan six months after completing their studies. Axis Bank also provides competitive interest rates and quick loan processing, making it a reliable option for aspiring international students.

Punjab National Bank (PNB):

PNB’s “PNB Udaan” scheme is specifically designed to deliver financial assistance to students pursuing higher education overseas. The bank offers  overseas education loans without additional margins for loans up to INR 7.5 lakhs, ensuring that students can cover their tuition fees and related expenses. PNB’s education loan also has convenient repayment options and minimal processing charges.

Comparing Education Loan Providers

Here’s the table distinction the top educational loan provides. The actual overseas education loan amounts, interest rates, collateral requirements, and repayment tenures may vary based on the applicant’s profile and the bank’s policies at the time of application. 

Education Loan Provider	Maximum Loan Amount (INR)	Interest Rates	Collateral Required	Repayment Tenure	Additional Benefits
State Bank of India (SBI)	Up to 1.5 Crores	Competitive and Attractive	For loans up to 7.5 lakhs: No collateral is required	Up to 15 years	The hassle-free application process, quick approval
HDFC Bank	Up to 100% Financing	Competitive	Based on the loan amount and the applicant’s profile	Up to 15 years	Wide range of courses and institutions covered
ICICI Bank	Up to 1 Crore	Customized rates based on the applicant’s profile	Varies based on loan amount	Up to 15 years	Tailored loan solutions for different courses and institutes
Axis Bank	Based on applicant’s profile	Competitive	For loans up to 4 lakhs: No collateral required	Up to 15 years	Flexible repayment options
Punjab National Bank (PNB)	Up to 7.5 Lakhs	Attractive	No margin for loans up to 7.5 lakhs	Up to 15 years	Minimal processing charges

How Can Eduloans Help?

Eduloans can be your pathway to fulfilling your study abroad dreams. With attractive interest rates, flexible repayment options, and quick approvals, we connect you to the right lenders and provide the financial support you need. Take the first step towards your international education today and secure your future. Register now and open doors to endless opportunities!