With the rising cost of tuition, living, and travel abroad, several Indian banks and NBFCs now offer maximum education loans for abroad studies, helping students chase their global dreams without financial roadblocks.
In this blog, we’ll take a closer look at the maximum education loan for abroad studies you can get, along with top bank schemes, loan types, interest rates, eligibility criteria, required documents, and more.
Whether you’re eyeing a master’s in the USA or a diploma in Europe, this guide will help you understand how to fund your overseas education smoothly and smartly.
Table of contents
Maximum Education Loan for Abroad Studies
Indian students can avail of secured and unsecured education loans of up to INR 1.5 crore to study abroad.
The final loan amount depends on several factors, such as the applicant’s academic profile, the co-applicant’s financial standing, the university/course, and the lender’s policies.
Here’s a quick breakdown of the maximum education loan for abroad studies-
| Type of Education Loan | Loan Amount Limit |
| Secured Loan (With Collateral) | No upper limit – Need-based financing |
| Unsecured Loan (Without Collateral) | Up to INR 1 crore (varies by bank) |
Top Bank Schemes with Maximum Education Loan for Study Abroad
When it comes to funding your education overseas, State Bank of India (SBI) offers some of the most competitive education loan schemes, especially for students seeking high loan amounts.
Two standout options are the SBI Global Ed-Vantage Scheme and the SBI Shaurya Education Loan, both offering generous loan limits and borrower-friendly features.
SBI Global Ed-Vantage Scheme
SBI Global Ed-Vantage Scheme is specially crafted for Indian students aspiring to study abroad in reputed universities. This is a secured loan, which means collateral (like property, FD, or other tangible assets) is required.
Students can avail of a loan ranging from INR 7.5 lakhs to INR 1.5 crores, making it ideal for expensive courses in countries like the USA, the UK, Canada, Australia, etc, helping them secure maximum education loan for abroad studies.
The interest rate currently stands at 11.15% (EBR: 9.15% + CRP: 2%), with a 0.50% interest rate concession for female students. Moreover, SBI offers an additional 0.50% rebate if the applicant avails of SBI Life Insurance.
This scheme supports a wide range of courses and comes with flexible repayment options, making it a popular choice for international education financing.
This is one of the most popular education loan schemes for students of Indian nationality planning to study abroad.
| Particulars | Details |
| Loan Type | Secured |
| Loan Amount | INR 7.5 lakhs to INR 1.5 crores |
| Interest Rate | 11.15% (EBR: 9.15% + CRP: 2%) |
| Concession for Female Students | 0.50% rebate |
| Other Benefits | 0.50% rebate for SBI life insurance or SBI Rinn Raksha customers |
SBI Shaurya Education Loan
SBI Shaurya Education Loan, on the other hand, is designed specifically for the wards of Indian Defence Personnel and Coast Guard. The unique aspect of this scheme is that it supports both secured and unsecured loans, offering flexibility based on the loan amount and profile.
Like the Ed-Vantage scheme, the loan amount can go up to INR 1.5 crores, and the interest rate is also 11.15% p.a. It includes the same 0.50% rebate for female students and those with SBI RiNn Raksha life insurance for education loans.
The dual option of secured and unsecured funding makes this scheme accessible even for students who may not have strong collateral but meet other eligibility conditions.
| Particulars | Details |
| Loan Type | Secured and Unsecured |
| Loan Amount | INR 7.5 lakhs to INR 1.5 crores |
| Interest Rate | 11.15% (EBR + CRP) |
| Concession | 0.50% rebate for female students and SBI life policyholders |
Maximum Unsecured Education Loan (Without Collateral)
Though RBI guidelines cap unsecured education loans at INR 4 lakhs, several banks go beyond these limits to help students study abroad. Here’s a list of banks offering the highest unsecured education loan amounts:
| Bank | Unsecured Loan Limit |
| ICICI Bank | Up to INR 1 crore |
| Axis Bank | Up to INR 75 lakhs |
| HDFC Bank | Up to INR 50 lakhs |
| IDFC First Bank | Up to INR 50 lakhs |
| Union Bank of India | Up to INR 50 lakhs |
| YES Bank | Up to INR 40 lakhs |
Note: For unsecured loans above INR 7.5 lakhs, strong academic and financial profiles are required.
Also Read: RBI Guidelines for Education Loans
NBFCs Offering Maximum Education Loan for Abroad Studies
While traditional banks are a common choice for education financing, Non-Banking Financial Companies (NBFCs) have emerged as equally strong, and often more flexible, options, especially for students applying to mid- or lower-ranked universities abroad.
Many NBFCs in India now offer maximum education loan for abroad studies, going as high as INR 75 lakhs or more, even without collateral.
Here are some top NBFCs that offer high-value education loans for studying abroad:
| NBFC | Maximum Unsecured Loan Limit |
| Auxilo | Up to INR 75 lakhs |
| Avanse | Up to INR 75 lakhs |
| InCred | Up to INR 65 lakhs |
| HDFC Credila | Custom limits (based on student profile and university) |
Here’s why you should choose NBFCs education loans for abroad studies–
- Higher Loan Sanction Without Collateral: Many NBFCs go beyond the typical INR 7.5 lakh limit set by banks for unsecured loans. If you have a strong academic record and a reliable co-applicant, NBFCs can approve maximum education loan for abroad studies without needing property or fixed deposits as security.
- Flexible Loan Evaluation Criteria: Unlike traditional banks that stick to a rigid list of eligible universities, NBFCs consider a broader range of institutions globally, including many Tier-2 and Tier-3 universities.
- Customized Loan Offers: NBFCs assess each application individually. That means if your profile shows strong repayment capacity, you can secure the maximum education loan for abroad studies based on your specific course, destination country, and financial background.
- Faster Loan Processing: The application-to-sanction timeline is often shorter with NBFCs. Many offer loan approvals within 48-72 hours, making them ideal for last-minute visa or admission requirements.
- Interest Rate Flexibility: Though interest rates may be slightly higher than public sector banks, NBFCs often provide flexible repayment options, interest rate concessions for timely EMI payments, and even step-up repayment plans once the student starts earning.
Note: NBFCs generally require strong financial and academic backgrounds for unsecured loans above INR 25-30 lakhs. It’s best to apply early, compare offers, and check if your university is on their pre-approved list for maximum education loan for abroad studies and faster disbursal.
Also Read: NBFC Ombudsman Scheme for Education Loans
Eligibility Criteria for Maximum Education Loan
Before you apply for a high-value education loan to study abroad, it’s essential to understand the basic eligibility requirements.
Banks and NBFCs (Non-Banking Financial Companies) evaluate your application based on a few key factors to determine whether you qualify for a large loan amount. Here’s what you need to qualify:
- Applicant must be an Indian citizen, NRI, OCI, or PIO
- Minimum 18 years of age
- Secured admission to a recognized foreign university/course
- Must have a co-applicant (parent/guardian)
- For loans above INR 7.5 lakhs, collateral is required (in most cases)
Documents Required
Submitting the right set of documents is one of the most critical steps when applying for an education loan, especially for a maximum education loan for abroad studies. These documents help lenders verify your identity, academic background, admission status, financial capability, and, if applicable, the collateral property.
To make the process quicker and hassle-free, have these essential documents ready:
KYC Documents
- Aadhar Card / PAN Card / Driving Licence
Address Proof
- Passport / Voter ID / Utility Bill / Rent Agreement
Academic Records
- 10th, 12th, UG mark sheets & degree certificates
- Admission/Offer Letter
- Exam scores: GRE, GMAT, IELTS, TOEFL, PTE, etc.
Financial Documents
For Salaried Co-applicants:
- Salary slips (last 3 months)
- ITR/Form 16 (last 2 years)
- Bank statements (6 months)
For Self-Employed Co-applicants:
- Business address proof
- ITR/Form 16A (last 2-3 years)
- Bank statements (6 months)
Collateral Documents (for Secured Loans)
- Property sale deed/title deed
- Chain of ownership (last 30 years)
- Government-approved property plan
- Latest electricity/property tax bill
- Completion certificate (for constructed properties)
Application Process
Once you’re eligible and have gathered all the necessary documents, the next step is to apply for the maximum education loan for abroad studies.
Whether you’re going through a public sector bank like SBI, PNB, Canara, etc or using a government-supported platform like the Vidya Lakshmi Portal, understanding the step-by-step application process can help you avoid delays and mistakes.
Here’s how to apply for the maximum study abroad loan seamlessly:
- Visit the bank’s official website or Vidya Lakshmi Portal
- Check eligibility and download the application form
- Fill in the form and upload the required documents
- Visit the nearest bank branch with a copy of your documents
- Get your collateral evaluated (for secured loans)
- Submit the valuation certificate
- After document verification, the loan will be sanctioned
To sum up, getting the maximum education loan for abroad studies is easier than ever, thanks to various public and private banks offering flexible loan options tailored to your academic journey.
Always compare different lenders, check the interest rates, and go through the fine print before applying. With the right planning, your dream of studying abroad can turn into a reality without financial worries!
FAQs
Indian students can avail up to INR 1.5 crore through secured loans and up to INR 1 crore (or more) through unsecured loans depending on the lender. The final amount depends on your academic profile, university, and co-applicant’s financials.
Yes, many banks and NBFCs offer 100% financing that covers tuition fees, living expenses, travel, insurance, and even device or laptop costs—especially under secured loan schemes.
Yes. Several lenders like ICICI Bank, Axis Bank, Auxilo, and Avanse offer unsecured education loans up to INR 75 lakhs or more for eligible students with strong academic and financial profiles.
Public sector banks like SBI (up to INR 1.5 crore) and private banks like ICICI Bank and Axis Bank (up to INR 1 crore) offer high loan amounts. SBI’s Global Ed-Vantage scheme is particularly popular for secured loans.
NBFCs like Auxilo, Avanse, InCred, and HDFC Credila offer unsecured education loans up to INR 75 lakhs, depending on your profile, university, and course.
Banks generally offer lower interest rates but stricter eligibility, while NBFCs are more flexible and faster in processing, especially for Tier-2/Tier-3 universities or non-collateral cases.
Interest rates vary between 10% to 14% depending on the lender and whether the loan is secured or unsecured. Public sector banks often offer better rates and rebates for female students or insurance tie-ins.
Key documents include:
– KYC of student & co-applicant
– Admission/offer letter
– Academic transcripts
– Income proofs (salary slips, ITR)
– Property documents (for secured loans)
Yes. Most lenders require a co-applicant (usually a parent or guardian) for both secured and unsecured loans. A guarantor may also be needed in some cases.
It typically takes 7–15 working days for banks and 2–5 days for NBFCs, provided all documents are in place. Collateral verification may take additional time.
Need help choosing the right education loan? Talk to our experts at Fly Finance and get personalized assistance—for free!
To learn more about the best education loans, bank accounts for students, 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.
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