LLB Education Loan to Study Abroad: Best Banks, Interest Rate, Application Process

LLB Education Loan to Study Abroad
Home » Education Loan » LLB Education Loan to Study Abroad: Best Banks, Interest Rate, Application Process

LLB Education Loan to Study Abroad: LLB is a popular course among students who aspire to become lawyers in the fields of criminology, constitution, property, equity, trusts and many more. In many Indian universities, the average fee for pursuing law starts from INR 85,000 to 1.5 lakhs per year. Additional charges for hostel accommodation, examination fees, and others can make these costs higher. In this blog, we will cover all about the education loans for LLB courses to study abroad. 

Costs of pursuing LLB 

The costs of pursuing an LLB course abroad can be very high. It can range from INR 10 lakhs to INR 50 lakhs per year. To cover the financial expenses of this 3 to 5-year LLB course, many financial institutions and NBFCs provide education loans for LLB students and fulfil their global dreams. Students just need to secure admission to a recognised university abroad through merit or successfully qualifying for the entrance tests, to be eligible for LLB study abroad education loans. 

The table below shows the average tuition fees for LLB courses in the top 6 countries per year- 

CountryAverage Fees for LLB 
United States of AmericaINR 13 lakhs to 45 lakhs per year
United KingdomINR 10 lakhs to 50 lakhs per year
AustraliaINR 11 lakhs to 25 lakhs per year
The NetherlandsINR 10 lakhs to 41 lakhs per year
SingaporeINR 13 lakhs to 30 lakhs per year
SwedenINR 10 lakhs to 25 lakhs per year 

Government Banks LLB Education Loan 

Many government banks provide education loans to study abroad which includes providing education loans for LLB courses. SBI Bank, Bank of Baroda, Punjab National Bank, Canara Bank, and Union Bank of India are some of the top banks for providing education loans to LLB students to study abroad. Let’s have a look at the education loan amounts and interest rates- 

Government Banks for LLB Education Loan Details
State Bank of India (SBI)Maximum Loan Amount- Up to INR 1.5 crores (With collateral)
Up to INR 7.5 lakhs (Without collateral)
Interest Rates- Starting 7.95% p.a
Bank of BarodaMaximum Loan Amount- Up to INR 1.5 crores (With collateral)
Up to INR 7.5 lakhs (Without collateral)
Interest Rates- Starting 8.45% p.a
Punjab National BankMaximum Loan Amount- Up to INR 60 lakhs (With collateral)
Up to INR 7.5 lakhs (Without collateral)
Interest Rates- Starting 9.95% p.a
Canara BankMaximum Loan Amount- Up to INR 80 lakhs (With collateral)
Up to INR 7.5 lakhs (Without collateral)
Interest Rates- Starting 8.80% p.a
Union Bank of IndiaMaximum Loan Amount- Up to INR 1.5 crores (With collateral)
Up to INR 7.5 lakhs (Without collateral)
Interest Rates- Starting 10.90% p.a

Private Banks LLB Education Loan 

Private Banks offer education loans for many recognised courses including LLB. This helps students secure finances without worrying about tuition fees and living expenses to study abroad. They offer a wide range of benefits including higher LLB education loan amounts with and without collateral. The table below includes the top private banks providing education loans for LLB courses. 

Private Banks for LLB Education Loan Details
Axis BankMaximum Loan Amount- Up to INR 1 crore (With collateral)
Up to INR 75 lakhs (Without collateral)
Interest Rates- Starting 10.70% p.a
HDFC BankMaximum Loan Amount- Need-based (With collateral)
Up to INR 45 lakhs (Without collateral)
Interest Rates- Starting 9.55% p.a
ICICI BankMaximum Loan Amount- Up to INR 2 crores (With collateral)
Up to INR 1 crore (Without collateral)
Interest Rates- Starting 10.95% p.a
YES BankMaximum Loan Amount- Up to INR 1.5 crores (With collateral)
Up to INR 45 lakhs (Without collateral)
Interest Rates- Starting 12% p.a
IDFC First BankMaximum Loan Amount- Up to INR 1.5 crores (With collateral)
Up to INR 75 lakhs (Without collateral)
Interest Rates- Starting 10.50% p.a

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.

LLB Education Loan to Study Abroad by NBFCs 

Besides public and private banks discussed above for LLB study abroad education loans, various NBFCs provide financial assistance to LLB students and pursue higher studies abroad. Some of them include HDFC Credila, Avanse Financial Services, and Aditya Birla Capital education loans to study abroad. We have compiled a list of NBFCs offering educational loans for LLB students with no upper limit. 

NBFCs for LLB Education Loan Details
HDFC CredilaMaximum Loan Amount- No limit (With collateral)
Up to INR 7.5 lakhs (Without collateral)
Up to INR 20 lakhs can be offered to exceptional students without collateral
Interest Rates- Starting 13.80% p.a
Avanse Financial ServicesMaximum Loan Amount- No limit (With collateral)
Up to INR 75 lakhs (Without collateral)
Interest Rates- Starting 14.25% p.a
AuxiloMaximum Loan Amount- No limit (With collateral)
Up to INR 40 lakhs (Without collateral)
Interest Rates- Starting 12.70% p.a
Prodigy FinanceMaximum Loan Amount- No limit (With collateral)
Interest Rates- Starting 11.5% p.a
MPower FinancingMaximum Loan Amount- Up to USD 100,000 (INR 83 lakhs)
Interest Rates- Starting 12.99% p.a

FAQs on LLB Education Loan

Can I get an education loan for an LLB to study abroad?

Yes, aspiring students can get an LLB study abroad education loan as it is a degree course with higher job prospects and employment opportunities. 

How to Get an LLB Education Loan for a 5-year Law Course?

Students need to secure admission to a recognised university abroad through merit or successfully qualifying for the entrance tests, to be eligible for LLB study abroad education loans. Once you receive an offer letter from the university abroad, you can apply for LLB education loans.

How to manage an LLB Education Loan?

Opt for EMIs to manage higher amounts of education loans for LLB courses. Students can avail of tax rebates on education loans under Section 80E of the Income Tax Act. 

How much education loan for LLB students can be availed?

There is no upper limit on LLB education loans availed from NBFCs like HDFC Credila, Avanse Financial Services, Auxilo, and Prodigy Finance. However, an education loan loan for an LLB course up to INR 7.5 lakhs can be availed without collateral from public banks. 

Which private banks are the best for LLB education loans?

Some of the best private banks for LLB education loans are Axis Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and YES Bank.

This was all about LLB education loans to study abroad. Hope this blog helped you with relevant information. 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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About Shubhika Garg

Hey there! I'm Shubhika- a proud graduate in English Literature and Language from Delhi University. My journey as a content writer transitioned from online teacher into the world of words. Stepping into the domain of blogs and articles, I discovered my passion for writing growing deeper and stronger. Having said that, I have experience of writing for diverse industries in automobile, technology, ed-tech, finance and mental-health; crafting details to help you find the solution to what you are looking for. Join me as I invite you all explore and learn together.

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