Numerous government banks recognize the increasing demand for financial support among students aspiring to pursue their education abroad and have thus introduced comprehensive study abroad education loan schemes.

These offerings cater to a diverse range of applicants by providing both collateral and non-collateral options. Government banks understand that some students may not possess significant assets for collateral, and therefore, they have designed non-collateralized education loans to ensure inclusivity.

On the other hand, for those with assets willing to be pledged as collateral, banks offer secured loans with potentially more favorable terms. This diverse array of study abroad education loan options reflects a commitment to supporting the educational aspirations of students by tailoring financial solutions to their individual needs, thereby fostering a more accessible pathway to international education.

Study Abroad Education Loan Options:

1. State Bank of India

Interest rate:

- 9.30% for males

- 8.80% for females

Maximum loan amount in India: 1.5 Cr

Repayment tenure: Up to 15 years

2. Bank of Baroda

Interest rate:

- Upto 7.5 lakhs: 7.95%

- Above 7.5 lakhs: 7.70%

Maximum loan amount in India:

- Prime: Upto 80 Lakhs

- Non-Prime: Upto 60 Lakhs

Repayment tenure: Up to 15 years

3. Punjab National Bank

Interest rate:

- Upto 7.5 lakhs: 11.40% for males, 10.90% for females

- Above 7.5 lakhs: 11.15% for males, 10.65% for females

Maximum loan amount:

- Upto 10 Lacs in India

- Upto 20 Lacs abroad

Repayment tenure: Up to 15 years

4. Canara Bank

Interest rate:

- Upto Rs 7.5 Lacs: 10.70% for males, 10.20% for females

- Above 7.5 Lacs: 10.50% for males, 9.95% for females

Maximum loan amount:

- Upto 10 Lacs in India

- Upto 20 Lacs abroad

Repayment tenure: Up to 15 years

5. Central Bank of India

Interest rate:

- Upto Rs 7.5 Lacs: 9.00% for males, 8.50% for females

- Above 7.5 Lacs: 9.00% for males, 8.50% for females

Maximum loan amount:

- Upto 10 Lacs in India

- Upto 20 Lacs abroad

Repayment tenure: Up to 15 years

6. Bank of Maharashtra

Interest rate: 8.90%

Maximum loan amount:

- Upto 10 Lacs in India

- Upto 20 Lacs abroad

Repayment tenure: Up to 7 years

7. Bank of India

Interest rate:

- Upto Rs 7.5 Lacs: 10.35%

- Above 7.5 Lacs: 9.85%

Maximum loan amount:

- Upto 10 Lacs in India

- Upto 20 Lacs abroad

Repayment tenure: Up to 15 years

8. UCO Bank

Interest rate:

- Upto Rs 7.5 Lacs: 9.10%

- Above 7.5 Lacs: 9.50%

Maximum loan amount:

- Upto 10 Lacs in India

- Upto 20 Lacs abroad

Repayment tenure: Up to 15 years

9. Indian Overseas Bank

Interest rate:

- Upto Rs 7.5 Lacs: 10.65%

- Above 7.5 Lacs: 11.65%

Maximum loan amount:

- Upto 30 Lacs in India

- Upto 40 Lacs abroad

Repayment tenure: Up to 7 years

10. United Bank of India

Interest rate:

- Upto Rs 7.5 Lacs: 11.40% for males, 10.90% for females

- Above 7.5 Lacs: 11.15% for males, 10.65% for females

Maximum loan amount:

- Upto 10 Lacs in India

- Upto 20 Lacs abroad

Repayment tenure: Up to 15 years

How to Apply for an Education Loan ?

Applying for an education loan independently can be a tedious and time-consuming process, requiring meticulous attention to detail and navigating through various procedures.

At Klassfin, we understand the challenges associated with this endeavor, and we are here to simplify the entire process for you. 

Our dedicated team takes on the responsibility of conducting thorough due diligence on your behalf, streamlining the application process, and ensuring that all necessary documentation is handled efficiently. 

Through our exclusive negotiations with financial institutions, we secure the best possible interest rates for your education loan. 

At Klassfin, our mission is to alleviate the burdensome aspects of the application process, allowing you to focus on your education while we take care of the financial intricacies.