Are you partnered with banks like ICICI or HDFC for education loans?
LeapScholar works with trusted education loan partners including major banks and NBFCs to help fund your studies abroad. Whether you need a secured or unsecured loan, your counsellor can connect you with lenders matching your collateral situation, target country, and required loan amount.
When it comes to funding your studies abroad, choosing the right lender is as important as choosing the right university. Major banks like ICICI Bank and HDFC Credila are among the most popular options for Indian students, and understanding how their products work will help you apply with confidence.
Key Education Loan Features from Major Indian Lenders
| Lender | Loan Type | Key Feature |
|---|---|---|
| ICICI Bank | Secured and Unsecured | Covers up to 100% of expenses including tuition, travel, and accommodation; Section 80E tax benefit |
| HDFC Credila | Primarily Unsecured | Specialised education lender; flexible repayment during moratorium; fast processing |
| State Bank of India (SBI) | Secured (Collateral Required) | Lowest interest rates; strong for higher loan amounts with property as collateral |
| Avanse / Auxilo | Unsecured NBFCs | Academic-profile-based approval; good for students with strong university admits |
| Prodigy Finance | International Unsecured | Disbursed in destination country currency; no co-applicant required |
Secured vs Unsecured Loans at a Glance
| Loan Feature | Secured Loan | Unsecured Loan |
|---|---|---|
| Collateral Needed | Yes (property, FD, or bonds) | No collateral required |
| Interest Rate | Lower (typically 9% to 11%) | Higher (typically 11% to 14%) |
| Approval Basis | Asset value and income of co-applicant | Academic profile, university rank, and co-applicant income |
| Processing Speed | Slower due to collateral verification | Faster approval timelines |
My Advice
Start your loan application at least three months before your visa deadline, because bank processing, property verification for secured loans, and final disbursements all take time. If you have collateral, go to SBI or ICICI for the best interest rates. If you do not have collateral, Avanse and HDFC Credila have the most flexible approval criteria for strong university admits. Compare at least two lenders before signing anything.
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