The International Student Guide to Financing Your MBA

Hey there,

We know that when you plan to study abroad, arranging proper finances is the most important aspect. Thus we are here to help you understand the different lenders that can provide you with abroad education loans.

There are 2 types of education loans that you can go for i.e. secured education loan and unsecured education loans.

A few secured loan options are as follows -

1. SBI - they can provide you with up to 1.5 Cr INR loan with an interest rate starting at 11.15%. The processing fee for the same is 11,800 INR including GST.

2. UBI - they can also provide you with an education loan with up to 1.5 Cr INR with an interest rate starting at 10%. They charge a processing fee of 5,000 INR which is refundable in case you take disbursement within 3 months of loan approval.

Please Note - For both the cases above, collateral will be required.

Options for getting an unsecured education loan i.e. loan without collateral are shown below -

Lender	Maximum Loan Amount	Rate of Interest
Axis Bank	Up to 50 Lakhs INR	11% - 13.50%
ICICI Bank	Up to 50 Lakhs INR	10.85% - 12.50%
IDFC FIRST Bank	Up to 50 Lakhs INR	11.50% - 13.25%
HDFC Credila	Up to 65 Lakhs INR	11.25% - 13%
Auxilo	Up to 65 Lakhs INR	11.25% - 13%
Incred	Up to 60 Lakhs INR	12.25% - 14%
Avanse	Up to 75 Lakhs INR	12.50% - 13.50%
MPOWER Financing	Up to 100,000 USD	12.99%

Absolutely, the decision ultimately boils down to your individual preferences and requirements. In case you have collateral then you can go for a secured education loan with a public sector bank. In case you do not want to pledge collateral then you should go for unsecured loans from private banks or NBFCs but ensure to have a good financial co-applicant. In case you do not have a financial co-applicant then you may go for international lenders.

To streamline your education loan process, you can proactively check your eligibility through platforms like GyanDhan, India's first and largest education financing marketplace. We specialize in helping students fulfill their dreams of studying abroad, and our services are free.

Hi,

I was trying to get an offer from prodigy to check my loan options. It seems they have changed their model. The schools for which i was getting a prelim offer a month ago, are getting rejected now by them. Anyone else facing the same issue. Any anyone suggest any alternative option. I am an Indian , currently working in Kuwait for past 1.5 years. I am looking for loans for admission in Said or NUS. I have interview schedule for both.