Education and Career Forum

I can get education loan because I got in 12 th only 56%. Now I would like to go abroad for my further study? Then I can get education loan yes or no?

There is no limit set by the banks for offering education loans to students wanting to study abroad. It depends from bank to bank.

The majority of the banks offer loans of up to INR 20-30 lakhs. Also, if the loan amount is more than INR 20 lakhs then the interest rate also increases.

Yes, you can get an education loan to fund your further studies abroad. Many banks and financial institutions in India offer education loans specifically for students who wish to pursue higher education abroad.

To be eligible for an education loan, you must meet the following criteria:

Admission to a recognized university or college abroad: You must have secured admission to a recognized university or college abroad for a course that is approved by the bank or financial institution.

Once you meet the eligibility criteria, you can approach any bank or financial institution that offers education loans for studies abroad. You will be required to fill out an application form and provide supporting documents such as admission letter, fee structure, academic transcripts, and identity proof.

The bank or financial institution will review your application and, if approved, will disburse the loan amount directly to the university or college where you are studying. The loan will have to be repaid over a period of time, along with interest.

It is important to note that the interest rates and repayment terms may vary between banks and financial institutions. Therefore, it is advisable to research and compare the different loan options available before applying for an education loan for studies abroad.