What are the education loan requirements, such as maintaining a bank balance, for studying abroad?

You do not need to maintain a fixed minimum bank balance to apply for an education loan to study abroad.

For the loan, banks typically require:
- Indian citizenship and age 18 - 35 years
- Admission to a recognized foreign university
- A co-applicant (usually a parent/guardian) with stable income
- Collateral for loans above ₹7.5 lakh (amount subject to change)
- Documents such as identity/address proof, academic records, admission letter, co-applicant’s income proof, and recent bank statements

However, for your student visa, you must show proof of sufficient funds - this can be via your bank balance, an education loan sanction letter, or a scholarship. The exact amount and required duration in your account depend on your destination country and are subject to change.

If you need help with your loan or visa financial requirements, connect with your LeapScholar counsellor.