Masters in Surgery is one of the most preferred courses in the UK. A lot of international students pursue this course every year. However, the cost of studying surgery in the UK is very high and not all students can afford it without financial support. Some students try to get scholarships to study in the UK but it is not guaranteed that it will be approved easily. Hence, it is an easy way to get an education loan to cover tuition fees and other expenses. To know all about the major features and other information on education loans for Masters in Surgery from UK, continue reading further.
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Why Should You Take an Education Loan for Masters in Surgery from UK?
Taking an education loan for a Master’s in Surgery from the UK will help you pursue your dreams without facing any financial difficulties. After finishing your studies, you will get a plethora of job opportunities with a high salary. With an education loan for masters in surgery in UK, you will be experiencing structured financial support which will allow you to focus on your studies without the immediate financial burden. All the major expenses like tuition fees, accommodation costs, library fees, vehicle expenses etc.
Also Read: Check here some of the most common FAQs on Education Loan Repayment and understand the process
Top Banks For Education Loans for Masters in Surgery in UK
Some of the best banks and financial institutions for education loans for masters in Surgery in UK are Prodigy Finance, Bank of Baroda, Union Bank, Punjab National Bank etc. All these banks provide secured and unsecured loans to study in the UK. You should compare some of the top banks for education loans to study in UK and then finalise one. Check the major features of education loans offered by these banks and financial institutions below:
| Banks and NBFCs | Major Features of Education Loan |
| Bank of Baroda | – Loan offered under the Baroda Scholar Education Loan Scheme – Interest rate starting from 9.70% – Discounts applicable subject to eligibility |
| Union Bank | – Interest rates starting from 8.80% – Collateral-free loans up to INR 40 lakhs – Zero processing fee on education loans |
| Punjab National Bank | – Need-based Finance is subject to margin as per guidelines – Repayment period of up to 15 years – Zero prepayment charges |
| Prodigy Finance | – Need-based financing is available, with up to 100% cover – Interest rate starting from 10.50% – Provides both secured as well as unsecured loans |
Eligibility Criteria
To be eligible for an education loan for a Masters in Surgery in the UK, the students must meet the criteria set by banks or lenders. Always check the eligibility criteria before applying for the loan as it will help you to understand what exactly you require to get the loan. Check the major eligibility criteria below:
- The students must be an Indian citizen between 18 and 35 years of age
- The applicants should have secured admission to a recognised UK university
- They should have a strong academic record
- The students must also provide proof of admission and a detailed fee structure from the institution
- The co-applicant should have a stable income
Also Read: Check here all about early repayment charges on education loans
Documents Required
The documents required for an education loan for Masters in Surgery UK are mainly of 3 types. You need to submit KYC documents, financial documents and academic documents. Check the details of the documents below:
- Aadhaar and PAN card
- Last 6 months’ bank statements and salary slips
- Scorecard of undergraduate and board exams
- ITR details for 2-3 years
How to Apply for an Education Loan to Study in the UK?
Applications for education loans to study in the UK must be submitted through the Vidya Lakshmi portal. If you are applying for a loan from a bank not associated with Vidya Lakshmi, you need to apply on their official website or by visiting the branch. Check the steps to apply below:
- Visit the Vidya Lakshmi portal and register yourself
- Check the various loan schemes available and finalise the best-suited scheme for you
- Fill out the loan application form and upload the relevant documents
- Submit the form and wait for approval
This was all about an Education Loan for Masters in Surgery UK. Always compare different lenders before finalising the loan. Check some FAQs based on the same below:
FAQs
Taking an education loan for a Masters in Surgery from the UK allows you to pursue your academic goals without financial stress. The structured financial support covers major expenses like tuition fees, accommodation, library fees, and even vehicle costs.
Some of the top banks and financial institutions for education loans for a Masters in Surgery in the UK are Prodigy Finance, Bank of Baroda, Union Bank, and Punjab National Bank.
To be eligible for an education loan, students must be Indian citizens aged between 18 and 35 years. They should have secured admission to a recognised UK university and possess a strong academic record.
The students need to submit a variety of documents like KYC documents (Aadhaar and PAN card), financial documents (last 6 months’ bank statements, salary slips, ITR details for 2-3 years), and academic documents (scorecards of undergraduate and board exams).
Applications for education loans can be submitted through the Vidya Lakshmi portal for banks associated with it. For other banks, applications can be made on their official websites or by visiting the branch.
To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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