Top 20 Education Loans in India for Studying Abroad

HDFC Credila Education Loan

HDFC bank provides its service of foreign education loan through the company named Credila Financial Services and is dedicated solely to education loans.

As per the statement from the lender, their foreign education financing includes over 5,200 institutes in 64 countries and close to 950 courses. The loan covers the tuition fee as well as the expenditure related to living, accommodation, traveling, exam fees, books, and computers, among others.

According to HDFC Credila, the education loan can fully fund the cost of education if proper collateral is offered, and the unsecured loan can be availed to an extent of ₹75 lakh. The tenure mentioned in the statement can be up to 14 years.

This loan is suitable for: Students seeking a specialist education lender with broad university and course coverage.

Also read: Education Loans in India - The Complete Student Guide

ICICI Bank Education Loan

Educational loans are provided by ICICI Bank for international education purposes, and the listed international loan amounts currently are up to ₹3 crore.

This bank has secured as well as unsecured products, and the current website shows indicative minimum rates of 9.00% for secured foreign loans and 10.25% for unsecured foreign loans.

ICICI Bank offers services like pre-admission sanctions and online application facilities. The ICICI overseas education loan helps in pursuing both undergraduate and postgraduate studies at selected recognized institutions.

This loan is suitable for: Students looking for high-value financing and a bank with dedicated overseas education offerings.

Bank of Baroda Scholar Education Loan

Baroda Scholar is meant for students who are looking to study professionally and technically in foreign countries. Such courses would be those like MBA, MCA, MS, and other professional courses as well.

Currently, Bank of Baroda is stating that the scheme could offer as much as ₹150 lakh for premier institutions and ₹60 lakh for those institutions that do not qualify as premier institutions. The Bank offers various margins as well as various securities depending upon the institution and the size of the loan.

The scheme can cater to tuition fee, hostel and mess charges, examination fees, books, equipment, computer, insurance, and travel cost, among others.

This loan is suitable for: Students admitted to recognized professional or technical programs abroad.

Axis Bank Education Loan

Axis Bank is yet another private sector banking alternative for those planning to pursue education abroad.

Its education loan products are available for consideration by students intending to pursue higher education through eligible institutions, as per the evaluation of the course, institute, and applicants.

Axis Bank students should take into account the interest rate, processing fees, collateral required, margin amount and mode of repayment when compared to other banks.

This loan is suitable for: Students who prefer private-sector banking and want to compare conventional bank financing with specialized education lenders.

"Education loans changed the trajectory of my own life. I took one to complete my B.Tech, and that support gave me the freedom to focus entirely on learning rather than worrying about how to fund it, a decision that eventually shaped my journey to becoming a faculty member at IIT Bhilai. When it comes to studying abroad, this impact is magnified. International education carries a much higher cost, and for many bright students, an education loan is the only bridge between ambition and opportunity,” says Dr. Rishi Ranjan Singh, Associate Professor, Department of Computer Science and Engineering IIT Bhilai .

“It allows deserving candidates to access world-class universities regardless of their family's financial background, turning merit, not money, into the deciding factor. Education loans are not just financial instruments; they are enablers of dreams, ensuring that talent is never held back by economic constraints. My own experience taught me that timely financial support can unlock a lifetime of possibilities,” he adds.