Cost & living - Education loans Questions
511 questions
Expert Answers
When will I have to start repaying my education loan for Germany from a nationalized bank?
→Repayment typically begins after your course period and the moratorium period. It usually commences one year after course completion or 6 months after you secure a job, whichever is earlier. The moratorium varies between loan-providing institutions, so confirm the exact terms with your bank.
Which documents do I need to submit for a Union Bank of India education loan?
→A Union Bank of India education loan typically needs a filled application form, identity and residence proof, photographs, income proof, academic records and an admission letter. Approval often takes around 10 to 20 days, so confirm the exact list with the bank first.
How should I fill out my education loan application form for studying abroad?
→Fill each section of your education loan form carefully: match your name to your passport letter for letter, declare co-applicant income that matches Form 16 and ITR-V, enter exact marks without rounding, copy the course name from your offer letter, and use official cost figures from your I-20 or CAS.
Which interest rate would I pay on a Union Bank of India Premier Abroad education loan?
→Under the Union Bank of India Premier Abroad education loan, Category A institutes typically carry 9.50% up to INR 40 lakh without collateral, 9.25% and 9.00% with more collateral, while Category B starts at 9.75%. Rates change, so check the bank's official page.
What loan amount and interest rate can I get under the NBCFDC education loan scheme?
→The NBCFDC education loan scheme typically offers up to INR 20 lakh at a 4% interest rate for students from backward classes, and female students get a 0.5% concession. Your family income should usually not be more than INR 3 lakh, so confirm terms on the official site.
Do I have to buy SBI Rinn Raksha to get an education loan for studying abroad?
→SBI Life Rinn Raksha is a credit life insurance policy that pays off your outstanding loan balance if the student or co-applicant dies or becomes permanently disabled. It is not legally mandatory under RBI guidelines, but SBI requires your loan to be covered by life insurance.
Who can be my co-applicant for an education loan to study abroad?
→A co-borrower, such as a parent, spouse or legal guardian, with an active PAN card and a CIBIL score of 700 or higher is typically mandatory for an education loan. The student is always the primary borrower. Rules can vary by bank, so confirm them.
Is a collateral-free education loan possible for me if I study MBBS abroad?
→Yes, many Indian banks and NBFCs offer collateral-free education loans for MBBS abroad, especially for reputed universities. The maximum collateral-free limit varies by lender and your eligibility, generally from INR 7.5 lakh to INR 75 lakh. Confirm current terms with your lender.
All Questions (511)
What are the different types of education loans available for Indian students studying in the UK, and what are their respective requirements?
→As an Indian student planning to pursue a master's in Singapore, can I get an education loan that covers both my tuition fees and living expenses?
→How much can I borrow for studying in New Zealand with secured and unsecured education loans from Indian banks, and will they cover both tuition and living expenses?
→Can I use a fully sanctioned education loan to fund my studies in Germany, showing I have access to at least €11,904 for a year, as required for the German student visa?
→Will an Indian education loan cover my tuition and living expenses for a Master's in Germany, including the required visa proof of funds?
→How can I start the educational loan process for my UK master's studies and get connected with a loan agent?
→As an Indian student, what expenses in Australia, New Zealand, or Poland can an education loan cover for me?
→Can Indian students get educational loans from Indian banks to cover tuition fees for studying abroad, including living expenses and other study-related costs?
→As an Indian student, how much of my tuition fees and living expenses can I get covered by an education loan for undergraduate studies in Singapore, starting from July 29, 2026?
→When does interest on student loans in the UAE start accruing, as it varies by lender and specific terms are not widely available?
→Up to what loan amount can I get a study abroad education loan without putting in any margin money?
→What's the maximum loan amount I can get under the PM-Vidyalaxmi scheme without collateral or a guarantor?
→How much education loan can I receive for a two-year Master's program in Germany, given my four-year bachelor's degree, no academic backlogs, and five years of work experience?
→As an Indian student, can I get an education loan to cover both tuition and living expenses for a Master's program in the UK?
→As an Indian student, can I obtain an education loan that will cover both my tuition fees and living expenses?
→Will the agency help me with the education loan process for my studies abroad, including finding suitable loan options and connecting me with reliable lenders?
→How much does the IELTS exam cost in India in June 2026, and what is the approximate range for IELTS tutoring fees?
→