Study Abroad Loan
An Abroad study loan is a form of financial support that you can combine with your expenses such as tuition fee, library charges, travel and purchase of study material etc. These loans are provided by the public/private sector banks, Non-Banking Financial Companies (NBFCs), and offshore lenders in the form of secured loans or unsecured.
Eligibility Criteria
- Must be an Indian citizen
- Applicant should be over 18 years old
- Good academic record
- A financially stable
- A co-borrower/guarantor residing in India is usually required.
Process
- Total up the amount money you need – include tuition, living expenses and other costs
- Compare lenders
- Check the eligibility requirements
- Gather all the necessary documents
- Submit the application online or at a bank branch
List of Documents Required
Applying for a study abroad loan in 2025, the student and co-applicant (typically a parent or guardian) must have various documents that are needed to complete the application. Eligibility criteria may differ slightly for HDFC Bank to SBI but tend to include the following Navy has just launched two latest personal loan types.
1.Student-Applicant Documents
- Identity Proof: Aadhaar Card, PAN Card, Voter ID, and Driving License.
- Address Proof: Valid Passport (mandatory for study abroad), Aadhaar card, Utility bill.
- Academic History: Marksheets (the latest) and degree certificates of 10th, 12th Standard and Graduation.
- Entrance Exam Scores: Score cards of exams such as GRE, GMAT, IELTS or TOEFL.
- Proof of Admission: Final offer letter (conditional/unconditional) from the international university.
- Study Cost: List of Tuition, housing, etc. costs provided by university.
2. Documents Required from the Co-Applicant
Lenders want to know these details to verify the co-applicant's financial strength.
- KYC:
- PAN Card and Aadhaar Card
- Bank Statements : Personal bank statements for the last 6 to12 months reflecting regular income.
- Income Proof for Salaried Individuals: 1.Salary slips of the past 3 months.
- Copy of Form 16 and Income Tax Returns (ITR) for last 2 years.
- Income Proof for Self-Employed Individuals:
- Income tax returns of the past 2 yrs along with income computation.
- Audited financials (Balance Sheet & P&L) of past 2 years.
- Evidence of business address (which can be in the form of Shop Act License, GST Registration).
3. Collateral Documents (For Secured Loans)
If you are pledging an asset, documentation must be in legal:
- Real Estate: Title Deed, Sale agreement with the latest stamped receipt, Building Plan approved By local authority and last paid tax receipt.
- Encumbrance Certificate: To ensure that the property is free from any legal or financial encumbrance.
- Liquid Assets: The original Fixed Deposit (FD) receipts or insurance papers if these are pledged as security.
4.Additional Documents (Case-Specific)
- Study Gap Certificate (if applicable): Explain in self-declaration or affidavit if there is any gap in education.
- Scholarship Letter: Evidence of any scholarships or grants that you have been awarded.
- Relationship Proof: Records such as a birth certificate or marriage certificate to prove that the student is the co-applicant’s relative.
Bank Education Loan
In 2025, education loans from banks in India offer a complete package of financial support for students to pursue higher studies in India or abroad. The loans are mainly regulated by the Model Education Loan Scheme of the Indian Banks Association (IBA).
Top Lenders for 2025
| Bank | Key benefit |
|---|---|
| Bank of Baroda | Best for school education (Nursery to Class XII) and vocational skills. |
| State Bank of India (SBI) | Lowest interest rates; high coverage for premier institutes. |
| ICICI Bank | Fully online digital application; high loan limits for overseas studies. |
| IDFC First Bank | Doorstep document collection and up to 100% financing. |
| Punjab National Bank | Specialized schemes for meritorious students with disabilities. |
FAQ'S
Q1. What documents are required for an education loan?
Ans. The documents required for an education loan are an aadhaar card copy of the student, letter of student's CET admission letter, letter of Student's NEET admission letter and Student's SSLC / 10 marks card copy.
Q2. What are the documents required for studying abroad?
Ans. Study Abroad Documents Required – Passport, Visa, SOP & LORs to Get Admission To study abroad students need a set of documents such as valid passport, visa, academic transcripts (10th/12th/Degree), language test score card (IELTS/TOEFL) SOP/LORs Resume/CV Financial proof and an offer letter/passport photos that should be divided for admissions use (academic documents, SOP or Tests related) and visa/travel use (passport,financial and health-related). Different countries and universities will have specific requirements, so make sure to check their guidelines.
Q3. How to apply for an education loan abroad from India?
Ans. To apply for an education loan for abroad studies from India in 2025, you must first secure a confirmed admission letter from a recognized international university. Once admitted, you can apply either online through official bank portals like the SBI Global Ed-Vantage portal or the government's unified Vidya Lakshmi Portal, or offline by visiting a branch with a co-applicant.
Q4. Are there any online platforms offering an education loan?
Ans. Yes, Infigon Futures provides educational loans and are affiliated with many various banks offering best options for students. If you need help with your education loan you can contact Infigon Futures through their official website.