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What student loan options are available for a Master's in the UK?

22 Jul 2026 · Answered by Shairal Pathak · 1 min read
Shairal Pathak
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Since you’re looking to study in the UK for your master’s, an education loan is a practical choice. Start by comparing banks and NBFCs for interest rates, collateral requirements, and repayment terms. Generally, loans over ₹7.5 lakh may need collateral, and a co-applicant with a stable income is required. Focus on gathering your admission letters and documents early, and explore scholarships to reduce your overall loan amount.

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Abhishek Mehta
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Yes, as an Indian student planning a master's in the UK, you have several education loan options:

- Unsecured loans up to ₹7.5 lakh: No collateral needed.
- Loans above ₹7.5 lakh: Usually require collateral like property or fixed deposits.
- Interest rates: Public banks typically offer 8.5%-9.5% p.a.; private banks and NBFCs range from 9.75%-12.5% p.a.
- Repayment: Moratorium covers the course plus 6-12 months; repayment can extend up to 15 years.
- Tax benefit: Interest paid is eligible for deduction under Section 80E for up to 8 years.
- International lenders: Some (like Prodigy Finance) offer no-cosigner, no-collateral loans, usually at higher rates.

A confirmed UK university offer is required for most loans. A loan sanction letter can also be used to meet UK visa financial proof requirements.

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