Aditya Birla Capital Education Loan to Study Abroad: To help aspiring students with limited funds to finance their higher studies, Aditya Birla Capital provides education loans to pursue higher studies in India and abroad. They aim to allow students to secure admission to top-notch universities leaving the financial worries behind. It is one of the top 5 NBFCs (non-banking financial companies) that offers education loans under the personal loan category without collateral.
Let’s understand more about the Aditya Birla Capital Education Loan to Study abroad, the eligibility criteria, the documents required and how to apply.
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Also Read: Check out our blog on one of the most flexible alternatives to finance your study abroad dreams- gold loan for education: benefits, criteria, documents & process.
Aditya Birla Capital Education Loan to Study Abroad
Aditya Birla Capital Education Loans of up to INR 50 lakhs can be taken for study abroad. However, a student with a good profile i.e. excellent academic performance and high credit score can get a higher amount on education loans to study abroad. The interest rates start from 10.55% with a maximum repayment period of up to 7 years. The education loan helps you cover your tuition fees, living expenses and other passage coverage to study abroad. Let’s have a look at the table below for classified information-
| Parameters | Details |
| Quantum of Finance | Up to INR 50 lakhs (The loan amount can be extended for students with exceptional profiles) |
| Interest Rates | Starting @10.55% |
| Repayment Period | Up to 7 Years |
| Security | Collateral-free loan |
| Moratorium Period | No moratorium period, since it’s a personal loan or education |
| Processing Fees | 0.5% to 2.5% of the total loan amount |
Here are some reasons why students must consider Aditya Birla Capital Education Loan to study abroad-
- Easy online application process
- Hassle-free financing through quick approvals
- Complete transparency in processing fees and other charges
- Minimum loan disbursement time
- Options to choose between simple EMIs or structured payments
- Unchanged interest rates throughout the repayment tenure
- No security or collateral is required
- Option for a top-up loan on education
Eligibility Criteria for Aditya Birla Capital Education Loan
To avail of loans to study abroad with Aditya Birla Capital, the students must fulfil the following eligibility criteria for education loans. The basic eligibility remains the same- the Students must secure admission through fair means including appearing for entrance tests or merit-based criteria. Banks also ask for documents displaying the regular income of the co-applicant.-
- The student must be an Indian citizen.
- The student must be at least 18 years of age at the time of applying for the loan. For minors, parents can apply for a loan on their child’s behalf.
- The student must have an excellent academic background.
- The student must seek admission to a recognised college or university.
- The desired course must either be a professional or a technical one. Most lenders tend to offer loans for courses that have high job prospects.
- Applicants/Co-applicants must have a good credit history.
- Regular income source should be salaried/self-employed/ professional
- The regular income of the co-applicant should be above INR 15,000-20,000.
Documents Required for Aditya Birla Capital Education Loan
The students are required to submit a list of documents while applying for an education loan with Aditya Birla Capital Education Loan. This includes submitting valid proof of identity, proof of address, income proof, educational certificates and documents, and other additional documents as per the lender’s requirements. Students must be ready with the following documents while filling out the application form-
- Proof of Identity (Adhaar Card/ PAN Card/ Voter ID/ Passport/ Driving Licence)
- Proof of Address (Adhaar Card/ PAN Card/ Voter ID/ Passport/ Driving Licence)
- Educational documents (Marksheet of Class X and Class XII, Graduation mark sheet, if applicable)
- Offer letter from the university abroad stating admission secured
- The fee structure of the enrolled university
- Income Proof (ITR of last 24 months, salary slips of last 2 months and Form 16 of past 2 years for salaried employees, 6-month bank statements)
Also Read: Did you know that you can get an income tax rebate on education loans? Check out how to avail, calculate, and claim tax deductions.
How to Apply for Aditya Birla Capital Education Loan?
To apply for an education loan with Aditya Birla Capital, students can visit the nearby Aditya Birla Finance Branch and understand which type of loan will be suitable for students studying abroad. Fill out the Aditya Birla education loan application form. Gather the required documents and submit the documents to the branch. Once submitted, Aditya Birla will initiate the loan process.
To apply for Aditya Birla education loan online, you can follow these steps-
Step #1- Visit the official website of Aditya Birla Capital.
Step #2- Fill in the details as asked.
Step #3- Wait for the call once your request is submitted.
FAQs on Aditya Birla Capital Education Loan to Study Abroad
Aditya Birla Capital education loans are loans provided by them to pursue higher studies in India and abroad. Students can avail education loans under its personal loan category for a period of up to 7 years at interest rates starting from 10.55%.
Students who have an excellent academic record and a good credit score can apply for Aditya Birla Education loans. Aspiring Students must be Indian citizens above 18 years of age, must have an offer letter from a university abroad and have secured admission through entrance examinations or merit-based.
Students must keep the following documents handy- valid proof of identity, proof of address, income proof, educational certificates and documents, and other additional documents as per their requirements.
To apply for an education loan with Aditya Birla Capital, students can visit the nearby Aditya Birla Finance Branch and understand which type of loan will be suitable for students studying abroad. Fill out the Aditya Birla education loan application form. Students can also apply for the same by visiting the official website and filling out the application form online.
Yes, Aditya Birla education loans provide up to 100% finance that covers expenses like tuition fees, living expenses, and other passage coverage.
This was all about the Aditya Birla Capital education loans to study abroad. To know about education loans, the loan application process, 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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