Can you provide information about education loans for studying abroad, including terms, conditions, and benefits compared to loans in India?

Education loans for studying abroad offer higher amounts, broader coverage, and flexible repayment compared to domestic loans in India.

- Loan amount: Up to ₹1.5 crore or more (with collateral); unsecured loans available for smaller amounts, but at higher interest rates.
- Coverage: Tuition, living expenses, airfare, visa fees, travel insurance, and study materials.
- Interest rates: Typically 8.5% - 14% per year; public sector banks usually offer lower rates.
- Repayment: Moratorium covers course duration plus 6 - 12 months; repayment period up to 15 years.
- Tax benefit: Interest paid is eligible for deduction under Section 80E for up to 8 years.

Lenders require confirmed admission, a co-applicant (usually a parent/guardian), and collateral for larger loans. Policies and rates are subject to change.