Apex International

Education Loan

Education Loan

 Courses ; MBBS / MD/MS /DM/M.CH / Fellowship courses/ Veterinary / BSc ( Agriculture )/ Pharmacy/ BAMS /BHMS/ Para – Medical / Allied Health sciences and all other professional courses both in India and Abroad.

With opportunities growing across the Globe, more and more Indian students are aspiring to study abroad at various universities.

Studying abroad brings in promises of high-flying careers, with the sky being the limit.

Institutions across the world offer a multitude of courses and students have various options to choose. Additionally, most universities offer scholarship programs and financial aid in some cases to students, which only improve their job opportunities.

With growing aspirations, there is another responsibility that has to be fulfilled by students and their parents.

 Funding the foreign education is a major factor that affects the type of course those students enrol for and also the institution selected.

The best form of financing is to avail an education loan for Foreign studies. Banks in India offer various schemes depending on the institution selected and the course of study.

 Most education loan schemes come with flexible repayment options and allow the borrower to plan his finances accordingly.

Education loans carry a moratorium or holiday period which is very beneficial as the borrower is given a period of around six months after the completion of the course.

The education loan repayment can be started after this period or as soon as the borrower has found a job.

Education loans also cover the cost of boarding, lodging, tuition fees, travel and other related costs for the student.

Features of education loans:

  • Any individual aged between 18 and 35 years can avail an education loan to pursue studies at any approved university abroad.
  • Students can procure education loans for management courses, engineering courses, medicine, and graduate and post graduate degrees, arts, architecture, pure science, hotel management, etc.
  • The expenses covered under an education loan include tuition fees, exam fees, lab and library fees, caution deposit, travel, books and equipment, projects and study tours.
  • Borrowers have to bring in a margin of 5% to 15% for loans taken for foreign studies.
  • During the moratorium period, borrowers have to pay the interest, with the principal payment starting when the loan tenure begins.
  • Education loans can be repaid in monthly instalments through ECS or via post-dated cheques to the bank.
  • Generally, banks sanction education loans with tenure to up seven years, inclusive of the moratorium period.
  • A co-applicant has to be selected for education loans taken for full time courses. Co-applicants can include siblings, spouse, parents or other family members.
  • Banks will sanction a maximum of Rs. 20 lakhs with the moratorium period and up to a maximum of Rs. 10 lakhs for loans without a moratorium period.
  • No security has to be submitted for education loans taken up to Rs. 4 lakhs. Third party guarantee has to be furnished for loans between Rs. 4 lakhs and Rs. 7.5 lakhs and tangible collateral security is required for loans above Rs. 7.5 lakhs.
  • The Central Government has also introduced an interest rate subsidy scheme for repayments done during the moratorium period for the benefit the weaker section of the society.

Top education loans providers in India

Given below are the top education loan providers in India aiding students wishing to pursue their education abroad.

Top Education Loan Providers in India for Foreign Education Also studies in Indian colleges; for MBBS / MD/MS /DM/M.CH / Fellowship courses/ Veterinary / BSc (Agriculture )/ Pharmacy/ BAMS /BHMS/ Para – Medical / Allied Health sciences and all other professional courses.

Features of education loans: Any individual aged between 18 and 35 years can avail an education loan to pursue studies at any approved university India and abroad. …

National Securities Depository Limited (NSDSL) e-Governance Infrastructure Ltd., has developed Vidya Lakshmi.  This has facilities of education loan, scholarship and other student friendly facilities. This is gateway to Banks for education loan & also has linkages.

 40 banks have been registered so far and 71 loan schemes have been uploaded in Vidya Lakshmi.   Students may access the same apply online and avail the facilities through our assistance.

State Bank of India / Axis bank / HDFC Bank / Punjab National Bank / Canara Bank / Federal Bank /IDBI Bank / Bank of Baroda / Bajaj Financial Services / Avanse Financial services / Sun trust / Wells Fargo / Citi Bank / Prodigy Finance / Leap Finance / Auxi Lo Finance / InCred / Power Finance / Normed credit / Federal Bank

Avanse Financial Services:

Education Loan Eligibility

Since these loans are offered to brilliant students who are unable to meet the expenses of their higher education, the basic education loan eligibility is the academic excellence and achievements of the students.

In other words, the eligibility of the applicants is assessed on the basis of their academic performance as cited in the mark sheets of previous exams.

The vital education loan eligibility criteria that the candidates need to fulfil to get approval for the loan are listed out here:

  • The candidate applying for the loan must be a resident of India.
  • He/she must have confirmed admission in recognised educational institutes in India or abroad.
  • The age of the candidate must fall within the bracket of 18 to 35 years during loan application.
  • He/she must be undergoing a graduate/postgraduate degree or a PG diploma.
  • The applicant should have a secured admission in a college or university affiliated by UGC/AICTE/Govt. etc.
  • Students pursuing full-time courses need to have a co-applicant who can be either parent/guardian or spouse/parent-in-law (in case of married candidates).

Education Loan Eligibility Tabular representation






Minimum- 18 years Maximum- 35 years

Academic record

Proven- Good


Pursuing graduate/postgraduate degree or a PG diploma.

Income source




University Applied to

Recognised – In India/Abroad

Admission Status



Tangible collateral or guarantor- depending on the loan amount

and income source.

Education Loan Documentation

As told earlier, education loan documentation doesn’t involve any hard-core paperwork.

The process is simple and can be conducted online without paying physical visits to the banks.

 However, the process might vary depending on the criteria set by various banks or lending organisations.

 Also, the banks being very strict in their terms, failure to submit the mandated documents will lead to rejection:

Required Documents

Here are the mandatory documents that a student needs to provide to the banks while applying for a student loan:

  • Duly filled and signed application form with affixed photographs
  • 2 photographs of passport size
  • Copy of exam mark sheets of 10th/12th or latest education certificate
  • Statement of course expenses/cost of study
  • Aadhaar Card and Pan Card of the student and Parent/ Guardian

Age proof

Copy of Aadhaar Card /Voter ID/Passport/Driving License

Identity proof

Copy of Voter ID/Aadhaar Card/Driving License/Passport

Residence proof

Rental agreement/Bank statement of 6 months of the student or co-borrower/guarantor/Copy of Ration card/Gas Book/Electricity Bill/Tel Bill

Income proof

  • Most recent salary slips or Form 16 of the parent/ guardian/co-borrower
  • 6 months bank statement of the borrower or updated passbook of bank
  • Updated ITR (Income Tax Return with income computation) of 2 years or IT assessment order of last 2 years of parent/co-borrower/guardian
  • Documents stating the assets and liabilities of the parent/co-borrower/guardian

What will Improve Your Eligibility for an Education loan?

In order to make sure that the monetary help reaches the worthy students, banks are very strict in assessing the eligibility of the candidates.

 The overall academic excellence of the students, their future course of education and status of current admission are the basic parameters that evaluated before giving a loan approval.

Hence, working on the following areas will improve your eligibility for an education loan:

  • Scoring high grades/ranking in the qualifying exams
  • Displaying good academic record
  • Getting admission in a reputed/top-tier institute or university
  • Strong financial background of parents/guardians/co-borrower
  • Displaying good prospects for future employment/income generation

How to Know Your Eligibility for an Education Loan?

Before applying for an education loan from any of the top banks, you can check your eligibility in advance.

You can know your eligibility by conducting an online check on the Apex International specialist staff. 

all you need to do is provide basic, key background details required to qualify for an educational loan.

Based on this data, results for suitable education loan offers are displayed in an easy-to-compare manner.

Users can then apply online for the most appealing offer and avail unique deals as provided by Apex International to its users through collaborations with its partner institutions.

Frequently Asked Question’s

What documents do I need to submit to avail an education loan?

The list of documents that must be submitted to avail an education loan are mentioned below:


  • Liabilities and assets of all the borrowers.
  • Proof of identity.
  • Proof of address.
  • Income Tax Returns that are less than 2 years old.
  • Passport-size photographs (two).
  • Foreign exchange permit.
  • Letter that confirms the scholarship.
  • Course expenses.
  • Admission proof.
  • Relevant mark sheets.

Documents required

These are some of the documents required to complete your loan application:

  • Fully filled in application form with passport-size photographs affixed as required
  • Admission letter on letterhead of the educational institute
  • Academic certificates of the applicant
  • Mark sheets of entrance examination, if any
  • Scholarship document, if any
  • Declaration that no loan has been availed from another lender
  • Proof of identity such as Aadhar card/passport/driving license/PAN card, etc.
  • Proof of address or residence such as utility bills/ration card/Aadhaar card/passport, etc.
  • Proof of age such as birth certificate or 10th standard certificate

New Education Policy

The New Education Policy was released under the Government of India’s Ministry of Human Resource Development (MHRD) on 30 July 2020.

With the motto of Educate Encourage Enlighten, this is the first education policy to be released in the last 34 years in India.

The aim of the policy is to prepare the children of India with 21st century skills.

 The policy is founded on the three pillars of Research, Innovation, and Quality, with the objective of developing India into a knowledge super power.


The Minimum amount given as study abroad loan is Rs. 1,00,000.00/- At Avanse we do not believe in putting limits to your dream of pursuing higher studies, we look at structuring the study abroad loan to meet your necessary needs and cost of education.


At Avanse we do not ask for any Margin money contribution from our applicants. Our study abroad loans are designed to provide 100% coverage of the cost of education, thus doing away with this burden, leaving you to focus on your studies.

Loan Coverage

  • 100% Tuition Fee as determined by the Institute or University.
  • Living Expenses including purchase of Books, Computers and other expenses essential to complete the course (up to 75% of total living cost though not exceeding 20% of the total tuition fee).
  • Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts but not exceeding 10% of the total tuition fee.
  • Travel expenses / passage money up to Rs. 75000/- for students travelling abroad.
  1. Bridge loan

covers cost of application/Admission Fee / Consultancy fee /your course fee, Living expenses and many more.

  1. Pre- Admission Loan

Help students to obtain a conformation of their admission abroad by showing proof of Funds in the Bank.

  1. Pre visa Disbursement Loan help students to secure their admission

Visa as well as obtain a confirmation of their admission to an Institution / college / university abroad.

  1. Certificate of availability of Funds

this will prove you have sufficient funds for the Tuition fees and your stay in the desired Country.