Pursuing the Chartered Financial Analyst (CFA) designation abroad opens doors to a prestigious career in finance. However, the costs of registration, exam fees, study materials, and international travel can add up quickly. An education loan for CFA abroad provides a practical solution to finance this globally recognized certification.
This blog explores all aspects of education loans for CFA abroad, how to secure the right loan, eligibility criteria, top lenders, and repayment strategies to help you achieve your financial career goals without financial stress.
Table of contents
- Why Choose an Education Loan for CFA Abroad?
- Top Lenders Offering Education Loans for CFA Abroad
- SBI Global Ed-Vantage Scheme for CFA Abroad
- Credila Financial Services (HDFC Credila)
- Bank of Baroda – Baroda Scholar Loan
- ICICI Bank Education Loan for CFA Abroad
- Axis Bank Education Loan for CFA Abroad Studies
- IDFC First Bank Education Loan for CFA
- Union Bank of India Education Loan for CFA Abroad
- Avanse Financial Services Loan for CFA Abroad
- InCred Finance Loan for CFA
- Prodigy Finance Loan for CFA
- Eligibility Criteria for Securing an Education Loan for CFA Abroad
- Expenses Covered by an Education Loan for CFA Abroad
- How to Apply for an Education Loan for CFA Abroad
- Repayment Strategies for Education Loans for CFA Abroad
- Government Schemes Supporting Education Loans for CFA Abroad
- FAQ
Why Choose an Education Loan for CFA Abroad?
The CFA program, offered by the CFA Institute, USA, is a gold standard in finance, equipping professionals with expertise in investment management, financial analysis, and portfolio management. Studying abroad for CFA preparation often involves enrolling in preparatory courses or coaching programs in countries like the USA, UK, or Singapore, which can be costly. An education loan for CFA abroad eases this burden by covering essential expenses, allowing you to focus on exam preparation.
- Covers Multiple Expenses: Education loan for abroad studies can fund CFA registration fees, coaching institute fees, study materials, and travel costs.
- Flexible Repayment Options: Many lenders offer moratorium periods and extended education loan repayment tenures up to 15 years.
- Tax Benefits: In India, interest paid on education loans to study abroad qualifies for deductions under Section 80E of the Income Tax Act, up to a limit of INR 40,000 annually for eight years.
- Global Opportunities: Financing your CFA abroad enhances access to international coaching and networking opportunities.
Also Read:
- Education Loan for B.Sc. Nursing Abroad: Eligibility & Top Lenders
- What is an Affidavit for an Education Loan?
Top Lenders Offering Education Loans for CFA Abroad
Several financial institutions in India provide tailored education loans for CFA abroad, offering competitive interest rates and flexible terms. Choosing the right education loan in India is crucial to align with your financial needs and repayment capacity. Here are some of the to lenders for CFA education loan:
SBI Global Ed-Vantage Scheme for CFA Abroad
SBI Global Ed-Vantage Scheme is ideal for CFA candidates, offering substantial loan amounts for international exam preparation and coaching. It provides extended repayment tenures and competitive rates.
| Feature | Details |
| Loan Amount | Up to INR 3 crore |
| Interest Rate | 11.15% p.a. onwards (as of March 2025) |
| Repayment Tenure | Up to 15 years |
| Collateral | Required for loans above INR 7.5 lakh |
- Processing Fee: INR 10,000 per application.
- Moratorium: Course duration plus one year.
- Eligibility: Indian citizens with CFA enrollment or coaching admission.
Credila Financial Services (HDFC Credila)
HDFC Credila specializes in education loans for CFA abroad, financing up to 100% of costs, including exam fees and travel. It offers customized loan plans and tax benefits under Section 80E.
| Feature | Details |
| Loan Amount | Up to INR 30 lakh |
| Interest Rate | 10.5% p.a. onwards (indicative) |
| Repayment Tenure | Up to 15 years |
| Collateral | Varies by credit profile |
- Unique Feature: Supports 5,000+ universities in 64+ countries.
- Application: Online via credila.com or Vidya Lakshmi portal.
- Processing Time: 7–10 days for approval.
Bank of Baroda – Baroda Scholar Loan
Bank of Baroda’s Baroda Scholar Loan supports CFA candidates with high loan limits and no processing fees for premium institutes. It offers concessions for female applicants.
| Feature | Details |
| Loan Amount | Up to INR 150 lakh |
| Interest Rate | BRLLR + 1.75% onwards (indicative) |
| Repayment Tenure | Up to 15 years |
| Collateral | Required for loans above INR 7.5 lakh |
- Benefit: 0.20% interest rate concession for female applicants.
- Moratorium: Course duration plus six months.
- Eligibility: Admission to a recognized CFA coaching or exam registration.
ICICI Bank Education Loan for CFA Abroad
ICICI Bank education loans for CFA abroad with a fully digital application process and no prepayment charges. It covers coaching, exam fees, and travel costs.
| Feature | Details |
| Loan Amount | Up to INR 3 crore |
| Interest Rate | 10.75% p.a. onwards (indicative) |
| Repayment Tenure | Up to 15 years |
| Collateral | Optional for unsecured loans up to INR 40 lakh |
- Feature: Quick approvals within 5–7 days.
- Eligibility: Indian citizens with confirmed CFA enrollment.
- Application: Visit icicibank.com or the Vidya Lakshmi portal.
Axis Bank Education Loan for CFA Abroad Studies
Axis Bank provides flexible education loans for CFA abroad, offering 100% financing for exam and coaching expenses. It ensures quick disbursal and minimal documentation.
| Feature | Details |
| Loan Amount | No upper limit (subject to eligibility) |
| Interest Rate | 10.5% p.a. onwards (indicative) |
| Repayment Tenure | Up to 15 years |
| Collateral | Required for loans above INR 7.5 lakh |
- Benefit: Covers living expenses like accommodation and food.
- Moratorium: Course duration plus one year.
- Application: Online or at Axis Bank branches.
IDFC First Bank Education Loan for CFA
IDFC First Bank offers comprehensive education loans for CFA abroad at competitive rates and with no margin money for smaller amounts. It supports a wide range of expenses.
| Feature | Details |
| Loan Amount | Up to INR 50 lakh |
| Interest Rate | 10.25% p.a. onwards (indicative) |
| Repayment Tenure | Up to 12 years |
| Collateral | Optional for loans up to INR 20 lakh |
- Feature: Long moratorium period up to the course duration plus one year.
- Eligibility: Indian citizens with strong academic records.
- Application: Via idfcfirstbank.com or Vidya Lakshmi portal.
Union Bank of India Education Loan for CFA Abroad
Union Bank’s education loan scheme supports CFA candidates with high loan limits and flexible repayment options. It offers subsidies under government schemes like CSIS.
| Feature | Details |
| Loan Amount | Up to INR 150 lakh |
| Interest Rate | 10.8% p.a. onwards (indicative) |
| Repayment Tenure | Up to 15 years |
| Collateral | Required for loans above INR 7.5 lakh |
- Benefit: Interest subsidy for economically weaker sections.
- Moratorium: Course duration plus one year.
- Eligibility: CFA enrollment or coaching admission.
Avanse Financial Services Loan for CFA Abroad
Avanse, a leading NBFC, provides tailored education loans for CFA abroad, covering 100% of expenses with quick processing and flexible terms.
| Feature | Details |
| Loan Amount | Up to INR 75 lakh |
| Interest Rate | 11% p.a. onwards (indicative) |
| Repayment Tenure | Up to 15 years |
| Collateral | Varies by loan amount |
- Feature: Fast disbursal within 5–7 days.
- Eligibility: Indian citizens with proof of co-applicant income.
- Application: Via avanse.com or partner portals.
InCred Finance Loan for CFA
InCred Finance offers unsecured education loans for CFA abroad, which is ideal for candidates seeking quick approvals without collateral for smaller amounts.
| Feature | Details |
| Loan Amount | Up to INR 40 lakh |
| Interest Rate | 11.5% p.a. onwards (indicative) |
| Repayment Tenure | Up to 12 years |
| Collateral | Not required for loans up to INR 20 lakh |
- Benefit: Minimal documentation for unsecured loans.
- Moratorium: Course duration plus six months.
- Application: Online via incred.com.
Prodigy Finance Loan for CFA
Prodigy Finance, a global lender, supports CFA candidates studying abroad with no collateral or co-applicant requirements, focusing on future earning potential.
| Feature | Details |
| Loan Amount | Up to USD 100,000 (approx. INR 83 lakh) |
| Interest Rate | 8%–12% p.a. (indicative, USD-based) |
| Repayment Tenure | Up to 10 years |
| Collateral | Not required |
- Unique Feature: Loans based on future income, not credit history.
- Eligibility: Admission to recognized CFA coaching institutes.
- Application: Via prodigyfinance.com.
Eligibility Criteria for Securing an Education Loan for CFA Abroad
Before applying for an education loan for CFA abroad, understanding eligibility requirements ensures a smooth education loan application process. Lenders assess specific criteria to determine your suitability for the loan, focusing on academic background, financial stability, and program details.
| Criteria | Details |
| Nationality | Must be an Indian citizen. |
| Age | Typically 18 years or older; parents may apply if the candidate is younger. |
| Academic Background | Strong academic record, often requiring proof of prior qualifications. |
| Course Recognition | CFA program or related preparatory courses from recognized institutions. |
| Co-applicant/Guarantor | Parents, siblings, or spouse as co-applicant; required for loans above INR 7.5 lakh. |
| Collateral (if applicable) | Property or liquid assets for secured loans above INR 7.5 lakh. |
Lenders may also require proof of enrollment in CFA coaching or exam registration. Ensure all documents required for education loan, such as academic records, KYC documents, and proof of income for the co-applicant, are ready to avoid delays.
Expenses Covered by an Education Loan for CFA Abroad
An education loan for CFA abroad covers a wide range of expenses, ensuring you can focus on your studies without financial worries. Knowing what costs are eligible helps you plan your loan amount accurately.
- CFA Registration and Exam Fees: Covers fees for all three levels of the CFA exam, ranging from INR 1.1 lakh to INR 3.5 lakh.
- Coaching Institute Fees: Includes tuition for preparatory courses in countries like the USA, UK, or Singapore.
- Study Materials: Fund books, online resources, and mock exams, capped at 20% of total tuition fees.
- Travel Expenses: Covers airfare and visa costs for international exam centers or coaching programs.
- Living Expenses: These include accommodation, food, and other essentials, subject to lender approval.
- Insurance Premiums: Fund life insurance or credit life policies to enhance loan security.
Always provide documented proof, such as receipts or bills, to justify these expenses during the loan application process.
How to Apply for an Education Loan for CFA Abroad
Applying for an education loan for CFA abroad is straightforward if you follow a structured process. Early preparation and complete documentation reduce approval time and ensure a hassle-free experience. Here is the step-by-step application process:
- Research Lenders: Compare interest rates, loan amounts, and repayment terms from banks like SBI, Credila, or Bank of Baroda.
- Check Eligibility: Confirm you meet the lender’s criteria, including nationality, academic records, and course recognition.
- Gather Documents: Collect KYC documents (Aadhaar, PAN), proof of CFA enrollment, academic records, and co-applicant’s income proof.
- Submit Application: Apply online via the lender’s portal (e.g., Vidya Lakshmi portal) or visit a branch.
- Loan Approval: Await verification of documents and credit profile; approval typically takes 7–15 days.
- Disbursement: Funds are disbursed directly to the institute or your account, based on the lender’s policy.
Tips for a Successful Application
- Apply Early: Start the process 3–6 months before your course or exam to account for processing delays.
- Use EMI Calculators: Estimate monthly repayments using tools like SBI’s or Credila’s EMI calculators to plan finances.
- Consult Experts: Seek guidance from loan counselors to ensure compliance with lender requirements.
Repayment Strategies for Education Loans for CFA Abroad
Repaying an education loan for CFA abroad requires careful planning to avoid financial strain. Most lenders offer flexible repayment options, including moratorium periods, to ease the burden during your study phase.
- Moratorium Period: Repayment starts after course completion plus one year, allowing time to secure a job.
- EMI Options: Choose equated monthly installments (EMIs) spread over 10–15 years for manageable payments.
- Prepayment Benefits: Many lenders, like ICICI Bank, allow prepayment without charges, reducing interest costs.
- Interest Subsidy Schemes: Explore schemes like the PM-Vidyalaxmi scheme or Central Sector Interest Subsidy (CSIS) for economically weaker sections (family income up to INR 8 lakh), offering up to 3% interest subvention on loans up to INR 10 lakh.
Plan repayments by aligning EMIs with your expected CFA salary, which can range from INR 10–20 lakh annually for entry-level roles abroad.
Also Read:
- Education Loan for CA Students to Study Abroad
- Education Loan for Professional Courses in India for Studying Abroad
Government Schemes Supporting Education Loans for CFA Abroad
The Government of India offers schemes to make education loans for CFA abroad more accessible, particularly for economically weaker sections. These initiatives reduce financial barriers and enhance affordability.
PM-Vidyalaxmi Scheme
Launched to support meritorious candidates, PM-Vidyalaxmi provides collateral-free and guarantor-free loans for studies at top institutions, with a digital application process via pmvidyalaxmi.co.in.
- Loan Limit: Up to INR 10 lakh with 3% interest subvention for family incomes up to INR 8 lakh.
- Eligibility: Admission to top 860 higher education institutions (CFA coaching institutes may qualify if recognized).
Central Sector Interest Subsidy (CSIS) Scheme
CSIS offers interest subsidies during the moratorium period for loans up to INR 10 lakh, targeting economically weaker sections (family income up to INR 4.5 lakh).
- Eligibility: Applies to professional/technical courses, including CFA, at recognized institutions.
- Application: Banks upload claims to Canara Bank’s CSIS portal for subsidy processing.
Credit Guarantee Fund Scheme for Education Loans (CGFSEL)
CGFSEL provides a 75% guarantee cover for loans up to INR 7.5 lakh without collateral, making loans more accessible.
- Eligibility: Indian citizens pursuing CFA or similar courses abroad at recognized institutions.
- Benefit: Reduces the need for collateral, easing loan approval.
An education loan for CFA abroad empowers you to pursue a globally recognized finance certification without financial constraints. By covering exam fees, coaching costs, travel, and living expenses, these loans make your CFA journey achievable.
FAQ
An education loan for CFA abroad typically covers CFA exam registration fees (INR 1.1 lakh–INR 3.5 lakh for all levels), coaching institute fees, study materials (up to 20% of tuition), travel costs, and living expenses like accommodation, subject to lender approval.
Yes, you can get an education loan for CFA abroad without collateral. Lenders like InCred, Prodigy Finance, and IDFC First Bank offer unsecured loans up to INR 20–40 lakh. For higher amounts, collateral like property or fixed deposits may be required by banks like SBI or Bank of Baroda.
Repayment tenures for an education loan for CFA abroad may vary from 10 to 15 years, depending on the lender. SBI, Credila, and ICICI Bank offer up to 15 years, while Prodigy Finance provides up to 10 years, with moratorium periods of the course duration plus 6–12 months.
Yes, interest paid on an education loan for CFA abroad qualifies for deductions under Section 80E of the Income Tax Act, up to INR 40,000 annually for eight years, reducing your tax liability.
Yes, you can apply for an education loan for CFA abroad online. Most lenders, including SBI, ICICI Bank, Credila, and Avanse, offer online applications via their websites or the Vidya Lakshmi portal (pmvidyalaxmi.co.in). Submit KYC, academic records, and CFA enrollment proof digitally for faster processing.
A co-applicant (e.g., parent or spouse) is typically required for loans above INR 7.5 lakh, as with SBI, Bank of Baroda, or Axis Bank. Prodigy Finance is an exception, offering loans without co-applicants based on future income potential.
Yes, lenders like ICICI Bank, Axis Bank, and Credila allow prepayment without charges, reducing total interest costs. Confirm prepayment terms with lenders like SBI or Bank of Baroda, as some may impose minimal fees.
Yes, schemes like PM-Vidyalaxmi (up to INR 10 lakh, 3% interest subvention) and CSIS (interest subsidy for incomes up to INR 4.5 lakh) support CFA loans. CGFSEL offers a 75% guarantee cover for collateral-free loans up to INR 7.5 lakh.
To learn more about bank accounts for students, the best education loans, forex, banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
Follow Us on Social Media
