Home > Loan > Available Banks
Star Loan Eligibility

Study abroad with
Financial Confidence

Check your loan eligibility and discover exclusive
benefits customized specifically for your needs.

Lady
head

Fast Approval Process

head

Low-Interest Rates

“Find Your Perfect Student Loan Match”

Explore personalized loan options, multiple lenders, and expert guidance, all in one place!

Service 1
Icon

Multiple Lenders

As a student, managing finances for tuition, living expenses, and other educational costs can be challenging. One option to help you secure the funds you need is a Multiple Lenders Loan, which allows you to access loans from several different lenders, giving you more flexibility and better financial options.

Service 1
Icon

Multi-Currency Loan

Flexibility Across Borders In today’s interconnected global economy, managing finances across multiple countries requires solutions that are as flexible as your ambitions. A Multi-Currency Loan is designed to provide businesses and individuals with the flexibility to borrow in the currency that best fits their needs.

Service 1
Icon

No-collateral Needed

As a student, securing financing for your education can sometimes feel overwhelming, especially when you’re asked to put up collateral—like property or assets—to secure a loan. Fortunately, No-Collateral Loans offer a solution that allows you to access the funds you need without risking your personal assets.

Service 1
Icon

Expert Advice

Financial experts can help you understand the various loan products available, from federal student loans to private options, ensuring you select the best one for your situation. Maximize Your Financial Aid: Advisors can guide you in applying for scholarships, grants, and other forms of financial aid that reduce the amount you need to borrow.

How Our Loan Process Works

We’ve made our loan process simple and straightforward. Here’s a quick overview of each step, so you know what’s ahead.

1

Apply Online

Fill out our simple application form with your basic details and study preferences

2

Document Upload

Upload required documents securely through our encrypted portal

3

Loan Assessment

Our experts evaluate your application and match you with the best loan options

4

Loan Approval

Receive approval notification and funds disbursed directly to your institution

Plan Your Finance With Ease

Easily manage your money. Budget, save, and plan with simple tools that make finance stress-free.

Icon
95% Success Rate

Check Your Eligibility

Fund your study abroad journey with confidence. We help you to check your eligibility results in just a few steps.

Icon
Instant Results

EMI Calculator

Estimate your monthly loan repayments with ease. Enter loan details, and our tool will do the math.

Icon
95% Success Rate

Know More About Banks

Explore detailed information on bank options for international education loans, including interest rates, andcollateral vs. non-collateral loans.

Our Trusted Loan Partners

We’ve partnered with top banks to bring you the best student loan options. Compare and choose the one that fits your needs.

Partner 1

ICICI Bank

Interest Rate: Starting at 10.5% APR

Explore
Partner 2

Axis Bank

Interest Rate: Starting at 11.0% APR

Explore
Partner 3

IDFC

Interest Rate: Starting at 10.8% APR

Explore
Partner 4

Union Bank

Interest Rate: Starting at 9.9% APR

Explore
Partner 5

Avanse

Interest Rate: Starting at 11.3% APR

Explore
Partner 6

Credila

Interest Rate: Starting at 10.2% APR

Explore
Partner 7

Incred

Interest Rate: Starting at 10.5% APR

Explore
Partner 8

Auxilo

Interest Rate: Starting at 11.0% APR

Explore
Partner 5

MPower

Interest Rate: Starting at 3.4% APR

Explore
Partner 6

Salli mae

Interest Rate: Starting at 3.4% APR

Explore
Partner 7

prodigy

Interest Rate: 10.5% APR

Explore
Partner 8

Abe

Interest Rate: 11.0% APR

Explore

NOTE: APR stands for Annual Percentage Rate. It’s the yearly cost of borrowing money, including interest and fees.

Our Happy Stories!

Success stories from students who achieved their dreams of studying abroad.

Country-Specific Loan Requirements

Learn what it takes to qualify for an education loan in different countries and find the best option for your study abroad journey.

USA
UK
New Zealand
Germany
France
Ireland
Canada
Singapore
USA Flag USA
Processing Time 2-4 Weeks

The USA offers numerous loan options for students, including federal and private loans. International students typically need a U.S. co-signer. Understanding your financial health is key, as lenders assess your credit score, income, and repayment ability.

Requirement details

  • ✓ A credit score of at least 600 is required; higher scores improve approval chances and lower interest rates.
  • ✓ Proof of income is needed, such as pay stubs, tax returns, or recent bank statements, to show the ability to repay.
  • ✓ Verification of employment status or a job offer letter may be required, especially for recent graduates.
  • ✓ A debt-to-income (DTI) ratio below 43% is preferred, as it indicates better financial stability.
  • ✓ A cosigner may be necessary for international students, ideally someone living in the U.S.
  • ✓ Proof of university enrollment or admission is required.

Choose Your Loan Option

Compare loan options side by side to find the perfect fit for your financial situation

Icon

Co-Signer Required

Team Up for Better Terms

Loan Type

If you have a limited credit history, a co-signer with a strong credit profile can help you secure the loan. The co-signer will be responsible for repayment if you fail to pay.

Icon

No Co-signer Required

Go Solo with Independence

Loan Type

If you have a strong credit score or income, you may be able to apply for a loan without the need for a co-signer. This gives you the freedom to manage the loan on your own.

Icon

Collateral Required

Asset-Backed Security

Loan Type

Some loan providers may require collateral (such as property, savings, or other assets) to secure the loan. This can help reduce the risk for the lender and may lead to better loan terms.

Icon

Non - Collateral

No Assets Required

Loan Type

If you have a strong credit score or income, you may be able to apply for a loan without the need for a co-signer. This gives you the freedom to manage the loan on your own.

Frequently Asked Questions

Find answers to the most common questions about our loan services.

Can I apply for a loan with a cosigner? Toggle
Yes, you can apply for a loan with a cosigner. A cosigner with a strong credit history can improve your chances of approval, especially if you have limited or no credit.
Can I get a study abroad loan without collateral? Toggle
Yes, unsecured education loans are available up to ₹7.5–40 lakhs (depending on lender and student profile).
However, interest rates may be higher compared to secured loans.
What types of courses are eligible for an education loan abroad? Toggle
• Undergraduate programs (Bachelors)
• Postgraduate programs (Masters, MBA, MS)
• Professional courses (Medicine, Engineering, Law)
• Diploma and certificate courses (in select cases)
What is the difference between an education loan from banks vs NBFCs for studying abroad? Toggle
• Banks: Lower interest rates, government subsidy schemes, but stricter rules and longer processing.
• NBFCs: Faster approval, flexible repayment, higher sanction amounts, but higher interest.
How much loan amount can I get for studying abroad? Toggle
• Up to ₹1.5 Cr with collateral-based loans.
• Unsecured loans generally range between ₹7.5 lakhs to ₹40 lakhs.
Loan amount depends on country, university ranking, and course expenses.
What is an SOP for a study abroad loan? Toggle
A Statement of Purpose (SOP) for a loan is a document where you explain:
• Why you want to study abroad
• Your career goals
• Your repayment plan after studies
A strong SOP can improve your chances of loan approval, especially for unsecured loans.
How do I write a convincing SOP for an education loan? Toggle
• Mention course details, university, and why you chose it.
• Highlight your academic and career achievements.
• Explain financial background and need for the loan.
• Show repayment capability (future job opportunities, salary expectations).
What are the interest rates for overseas education loans? Toggle
• Public banks: 9% – 12% (with collateral, can be lower).
• Private banks/NBFCs: 11% – 15% (unsecured).
• Female students may get concessions of 0.5%.
Do I need to show collateral for every study abroad loan? Toggle
No. Collateral is mandatory only for secured loans.
For unsecured loans, income proof and credit history of the co-applicant are crucial.
Can I apply for a study abroad loan online? Toggle
Yes, most banks and NBFCs allow online applications.
You can check eligibility, upload documents, and get pre-approval digitally.
How does the moratorium period work in an education loan abroad? Toggle
The moratorium is a holiday period where you don’t need to repay EMIs.
It usually includes your course duration + 6–12 months after graduation.
Can I get a study abroad loan if my co-applicant has a low CIBIL score? Toggle
Yes, but lenders may reduce the loan amount, increase interest rates, or ask for collateral.
In such cases, NBFCs are often more flexible.
What are the common reasons for education loan rejection? Toggle
• Low academic performance
• Unrecognized university/course
• Weak financial background of co-applicant
• Poor CIBIL score
• Incomplete documentation
How to improve chances of getting a study abroad loan approved? Toggle
• Maintain a strong academic record.
• Apply to recognized and reputed universities.
• Arrange a financially stable co-applicant.
• Submit a detailed SOP for the loan.
• Provide collateral if possible.
Are there government schemes for study abroad loans? Toggle
Yes, schemes like Vidya Lakshmi Portal and Padho Pardesh (for minority students) provide subsidized interest rates and easy access to education loans.
Can I transfer my existing education loan to another lender? Toggle
Yes. Loan refinancing or balance transfer allows you to shift to a lender with lower interest rates or better repayment terms.
Can I get a study abroad loan if I don’t have an admission letter yet? Toggle
Some lenders provide in-principle sanction letters which can be used to strengthen your visa application.
Final loan disbursement needs admission proof.
Is health insurance covered in a study abroad loan? Toggle
Yes, most lenders include medical insurance, travel insurance, and visa-related expenses under the loan.
How do lenders decide the education loan amount? Toggle
Loan amount is based on:
• University ranking and country
• Tuition + living cost
• Co-applicant’s financial profile
• Student’s academic record
Can I work part-time abroad to repay my education loan? Toggle
Yes, but repayment is expected primarily from post-study employment.
Some countries have restrictions on part-time work hours for international students.
Can I apply for a study abroad loan if my parents are retired? Toggle
Yes, but lenders may ask for another co-applicant with a steady income or collateral security.
Some NBFCs accept retired parents if there are strong collateral assets.
What is the minimum percentage required to get an education loan for studying abroad? Toggle
Generally, students should have at least 55–60% marks in their last academic qualification.
However, for reputed universities, even average scores may be accepted if other factors (SOP, collateral, co-applicant) are strong.
Can I get a study abroad loan for diploma or short-term courses? Toggle
Yes, but most lenders prefer degree or professional courses.
Some NBFCs and private banks do provide loans for diplomas, vocational, and language programs abroad if the institute is recognized.
Can I apply for multiple education loans from different banks? Toggle
You cannot take multiple loans for the same course, but you can apply to different banks/NBFCs to compare offers and choose the best one before finalizing.
What happens if I am unable to repay my education loan abroad? Toggle
Defaulting affects both the student’s and co-applicant’s CIBIL score,
leading to legal action or collateral seizure (if applicable).
It also impacts future loan eligibility.
Can I get an education loan if I already have a personal loan or home loan? Toggle
Yes, but lenders will check your existing liabilities and repayment capacity.
Too many loans can reduce eligibility or increase interest rates.
Is GRE/GMAT/IELTS/TOEFL mandatory for study abroad loans? Toggle
Not mandatory for loans, but required for admission to certain universities.
If the course/university doesn’t demand these tests, banks/NBFCs generally do not insist on them.
Do banks provide foreign currency loans for studying abroad? Toggle
Yes. Many banks disburse loans in foreign currency directly to the university’s account to avoid conversion charges.
NBFCs also offer forex-based loans.
What is the maximum repayment tenure for a study abroad loan? Toggle
Repayment tenure can go up to 15–20 years, depending on the lender, loan amount, and whether collateral is provided.
Can I get a study abroad loan if I have a gap year in my studies? Toggle
Yes, but lenders will ask for justification (SOP or explanation letter).
Strong reasons like preparing for entrance exams, internships, or work experience are acceptable.

Contact Study Befikar

Have questions about your student loan? Our team is here to help you every step of the way.

Chatbot

close
send