How much education loan can I get for studying abroad?

Education loans for studying abroad range from ₹20 Lakh to ₹1.5 Crore depending on the bank and country. SBI offers up to ₹1.5 Crore, HDFC Credila up to ₹45 Lakh without collateral. EEC helps you choose the best loan option.

What is the interest rate for education loans in India?

Education loan interest rates in India range from 8.5% to 12% p.a. SBI offers from 8.65%, HDFC Credila from 9.5%, Bank of Baroda from 8.45%. Rates depend on loan amount, collateral, and co-borrower profile. EEC helps compare rates.

Can I get an education loan without collateral?

Yes! Several banks offer collateral-free education loans: SBI (up to ₹20 Lakh), HDFC Credila (up to ₹45 Lakh), Prodigy Finance (up to full tuition). Eligibility depends on university ranking and co-borrower income.

What documents are needed for an education loan?

Key documents: admission letter, passport, academic transcripts, co-borrower income proof (ITR, salary slips), bank statements, property documents (if collateral), KYC documents. EEC provides a complete checklist for each bank.

What is the moratorium period for education loans?

The moratorium period (repayment holiday) is typically course duration + 6-12 months after completion. Some banks offer simple interest-only payments during the moratorium. EEC helps you understand repayment timelines.

Is there a tax benefit on education loans?

Yes! Under Section 80E of the Income Tax Act, the interest paid on education loans is fully deductible (no upper limit) for up to 8 years from the start of repayment. Only the interest portion qualifies, not the principal.

What is a GIC account for Canada?

GIC (Guaranteed Investment Certificate) is a mandatory financial requirement for Canada student visa. You need to deposit approximately CAD $22,895 in a designated Canadian bank (2026 requirement). The amount is returned in monthly installments after arrival.

What is a blocked account for Germany?

A blocked account (Sperrkonto) is required for German student visa. You must deposit approximately €11,904 (2026) in a German blocked account. You can withdraw a fixed monthly amount after arriving in Germany.

Does EEC help with education loan processing?

Yes! EEC provides free education loan counseling — bank comparison, document preparation, application filing, and follow-up. We work with SBI, HDFC Credila, Bank of Baroda, ICICI, Prodigy Finance, and more.

Which bank is best for education loan for studying abroad?

Best banks depend on your needs: SBI (lowest rates, up to ₹1.5 Cr), HDFC Credila (quick processing, no collateral up to ₹45L), Bank of Baroda (competitive rates), Prodigy Finance (international students, no co-signer). EEC helps compare options.

Complete Financial Solutions

From Funding to
Landing.

We don't just arrange your Education Loan. We set up your Bank Account, book your Flight, find your Home, and get you Insured.

1. Education Loan Assistance

We work with India's top lenders to get you the lowest interest rates.

HDFC Credila

SBI

ICICI Bank

Bank of Baroda

Union Bank

Avanse

Auxilo

InCred

IDFC First

Axis Bank

Loan With Property

Secured Loan

Lowest Interest (9% - 10.5%)
High Amount (Up to 1.5 Cr)
Pay Interest only after course

Loan Without Property

Unsecured Loan

Fastest Approval (5-7 Days)
No Collateral Required
Income Based Eligibility

Save Tax with Section 80E

Interest paid on education loans is 100% tax deductible for parents/guardians for up to 8 years.

2. Accommodation Assistance

Finding a safe home before you fly.

Shortlisting Housing

We find options close to your campus based on safety, commute, and grocery access.

Lease Terms

Understand contracts, security deposits, and hidden charges before signing.

Verified Hosts

We link you with verified landlords and trusted student housing providers.

Temp vs Permanent

Decide between short-term Airbnb/Motel vs long-term yearly leases.

3. Bank Account Setup

Opening a foreign bank account is crucial for managing expenses and receiving funds. We handle the paperwork before you fly.

GIC / Blocked Account
Mandatory for Canada (GIC) and Germany. We assist with Scotia, CIBC, Expatrio, etc.
Forex Cards
Best exchange rates for carrying cash initially. Avoid high airport conversion fees.
Fee Transfer
Secure channel to transfer tuition fees directly to the university.