The financial expenses related to this transition may become substantially burdensome. Education loans for Canada serve as a pathway to turn this dream into reality. Several banks along with financial institutions introduced these loans through beneficial conditions during 2025.
Why Choose Canada for Higher Education?
Canada ranks as an excellent choice for international students studying abroad. Students can access high-quality education through a multicultural learning experience along with access to work engagements after graduation. Here’s why students prefer Canada:
- Top-Ranked Universities: Home to globally recognized institutions like the University of Toronto, McGill University, and UBC.
- Affordable Education: Lower tuition fees compared to the US and UK.
- Work Opportunities: Students can work part-time and gain work experience after graduation.
- PR Pathway: Canada offers options to settle after completing studies.
Institutions Offering Education Loans For Canada
The cost of Canadian education leads students to take out education loans for Canada as their financial source. Let’s explore the best options available in 2025.
1. State Bank of India (SBI) Global Ed-Vantage Scheme
The Global Ed-Vantage Scheme by SBI provides educational support services to students who want to pursue international studies. The scheme provides competitive interest rates that pay for both education expenses and living expenses. This scheme needs collateral as a necessary condition and benefits candidates enrolled in full-time Canadian courses.
Key Features:
- Loan amount up to INR 1.5 crore
- Repayment tenure up to 15 years
- Moratorium period covering course duration plus six months
2. Bank of Baroda (BOB) Baroda Scholar Loan
Bank of Baroda provides the Baroda Scholar Loan to fund professional and technical education abroad for students. The financial assistance includes payments for tuition fees along with examination fees and travel expenses.
Key Features:
- Loan amount up to INR 150 lakh
- No processing charges up to INR 7.5 lakh
- No documentation charges
- No margin on loans up to INR 4 lakh
For more details, visit the Bank of Baroda official website.
3. HDFC Credila Overseas Education Loan
HDFC Credila specializes in education loans for students planning to study abroad. They offer customized loan solutions with flexible terms. Under certain conditions, HDFC Credila provides unsecured loans, meaning no collateral is required.
Key Features:
- Loan amount tailored to individual needs
- Flexible repayment options
- Quick approval process
Learn more about HDFC Credila’s offerings on their official website.
4. ICICI Bank Education Loan
ICICI Bank offers education loans for students admitted to universities in Canada. They provide unsecured loans for postgraduate courses, making it easier for students without collateral to fund their education.
Key Features:
- Loan amount up to INR 1 crore
- Flexible repayment options
- Interest rates linked to the base rate
5. Axis Bank Education Loan
Axis Bank provides education loans with competitive interest rates and flexible repayment options. They offer unsecured loans for selected courses and institutions in Canada.
Key Features:
- Loan amount up to INR 40 lakh without collateral
- Repayment tenure up to 15 years
- Moratorium period covering course duration plus six months
6. Avanse Financial Services
Avanse is a Non-Banking Financial Company (NBFC) that offers education loans for students aiming to study in Canada. They provide customized loan solutions with quick processing times.
Key Features:
- Loan amount covers tuition and living expenses
- Flexible repayment options
- Unsecured loans for selected courses
7. Credila Overseas Education Loan
Credila, an HDFC Ltd. Company, specializes in education loans for students pursuing studies abroad. They offer loans without the need for collateral under specific conditions, making it accessible for students lacking substantial assets.
Key Features:
- Loan amount up to INR 20 lakh without collateral
- Flexible repayment terms
- Quick approval process
For detailed information, refer to their official website.
Choosing the Right Loan
When selecting an education loan for Canada, consider the following factors:
- Interest Rates: Compare rates to find the most affordable option.
- Loan Amount: Ensure the loan covers all your expenses.
- Repayment Terms: Look for flexible options that suit your future plans.
- Collateral Requirements: Determine if you need a secured or unsecured loan.
It’s essential to research and compare different loan options to find the best fit for your needs.
How Eduloans Can Help
Navigating the various 
options can be overwhelming. Eduloans is here to assist you in finding the best loan tailored to your requirements. We collaborate with multiple banks and financial institutions to offer you a range of choices. Our experts guide you through the application process, ensuring a smooth experience.
Why Choose Eduloans?
- Access to multiple loan options
- Expert guidance throughout the process
- Assistance with documentation and application
- Personalized solutions based on your needs
Start your journey towards studying in Canada with confidence. Visit Eduloans today and let us help you secure the best education loan for Canada.