What are the loan options available for study abroad, and how does the repayment work if I am working while studying?
You have several education loan options for studying abroad, and repayment terms can vary depending on the lender and your work situation while studying.
- Public banks (like SBI, Bank of Baroda): Offer loans up to ₹1.5 crore, with interest rates typically around 10.5 - 11.5%/year. - Private banks (such as HDFC Credila, Axis Bank): Loans up to ₹45 lakh, with interest rates starting from 11%/year. - NBFCs (e.g., Avanse, Prodigy Finance): Flexible loan amounts, often no collateral, interest rates from 11.5 - 12.75%/year.
Repayment usually starts after your course ends, with a moratorium period (course duration plus 6 months). During studies, some lenders require only interest payments or small EMIs, especially if you are earning. Full EMI repayment typically begins after the moratorium, over 5 - 15 years.
Loan terms, interest rates, and repayment rules are subject to change.
What will studying in the USA actually cost you?
Tuition, living costs and loan options in one clear plan you can show your parents.
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