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Need an Education Loan
to Study Abroad

Need an
Education Loan
to Study Abroad

Enjoy quick approvals, flexible terms, and dedicated support
at every step of the way.

Enjoy quick approvals, flexible terms, and dedicated support at every step of the way.

Lowest Interest @9.25%*

Zero Service Fees

Application in 10+ Banks & NBFCs

No Hidden Charges

Check Eligibility
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Our Accomplishments

100+ Cr
Disbursed
10+
Banks & NBFC
15+
Countries
3 days
Average Time

Get started with
Education Loan
in 4 easy steps.

Apply in 10+ Banks and NBFCs in single click, and get Education Loan sanctioned within 3 days with ZERO Service Fees
  • 1

Eligibility Check

Fill-out your basic details and check your Education Loan Eligibility
  • 2

Documents

Post primary verification, you have to share the required documents.
  • 3

Sanction

Upon paying the processing fees, you will receive a Sanction Letter on your email
  • 4

Disbursement

After Agreement Signing, get the disbursement in your Bank account

Partners

Multiple Lenders

Our Trusted Partners

Compare Banks & NBFCs

Lender Interest Rate Secured UnSecured Processing Fees
Union Bank Logo 9.25% Rs 1.5 Cr Rs 40 Lacs ₹10,000
HDFC Credila Logo 10.5% Rs 2 Cr Rs 75 Lacs 1% - 1.25%
IDFC First Bank Logo 9.5% Rs 2 Cr Rs 75 Lacs 1% - 1.5%
Auxilo Logo 10.5% Rs 2 Cr Rs 65 Lacs 1% - 1.5%
Avanse Logo 10.5% Rs 2 Cr Rs 75 Lacs 1% - 2%
InCred Logo 11% Rs 1 Cr Rs 60 Lacs 1% - 2%
ICICI Bank Logo 10.95% Rs 2 Cr Rs 1 Cr 0.5% - 1.5%
Axis Bank Logo 10% Rs 75 Lacs Rs 75 Lacs 0.75%
Prodify Finance Logo 11.5% --- USD 250,000 USD 100 + 5%
MPower Logo 12.99% --- USD 100,000 5%
MPower Logo 10.15% Rs 1.5 Cr Rs 7.5 Lacs ₹10,000
MPower Logo 9.70% Rs 1.5 Cr Rs 7.5 Lacs ₹10,000
MPower Logo 8.10% Rs 2 Cr Rs 7.5 Lacs 1%

Features

Why Us

Why Choose Abroad Cube

Offers
Lowest Interest Rate

Best & Negotiated Interest Rates starting @ 9.8%

Transparency
Transparent

Open and straightforward procedure with no hidden charges

Customer Support
Customer Support

Dedicated Education Loan Experts for Application Support

Safe & Secured
Safe & Secured

We prioritize clarity within our terms and conditions as a commitment

Flexible
Flexible Collateral

Get Education Loan without or with Collateral depending on requirement

Tax Benefits
Tax Benefits

Save on Income Tax under Income Tax Section 80E up to 8 years

No Fees
Zero Service Fee

We does not charge any service fees for our services

Technology
Innovation & Tech

Apply with multple lenders using aigital application and get Real-Time updates

Choose your Study Destination

Testimonials

Testimonials

Success Stories -
Turning Study Abroad Dreams into Reality

  1. Interest Rate - You must check for the lowest interest rates and get quotes from various banks and NBFCs. The NBFCs and private banks have a higher rate of interest in comparison to the Government banks. The small difference of 1% could increase your total interest by Rs 1-2 lakh. For example, the loan amount is Rs 20 lakh, Loan tenure is 5 years, and course duration is 2 years. If the ROI is 10%, the interest will be around Rs. 10.60 lakh, and if it is 11%, the interest would be approximately Rs. 11.85 lakh. This 1% make the difference of Rs 1.25 lakh in interest amount.
  2. Lending Margin - Sometimes, they do not provide the full amount for Educational expenses. They require the applicant to make a down payment towards it. If the Bank has 0% lending margin, then all education related expenses will be cover by them. For example, the bank might ask you for a 10% lending margin. If the total expenditure is Rs 25 lakh, you have to pay Rs 2.5 lakh out of your pocket, and Rs 22.5 lakh will be given by them.
  3. Moratorium Period - It is the period in which you don't have to repay any EMI. This might be your course duration or some extra time after the course completion. In some cases like an unsecured loan, the banking institution may not allow any moratorium period, and you have to pay EMI right from the day of disbursement. You will be charged simple interest during the moratorium period, which will be added to your loan principal amount.
  4. Processing period - You should start looking for an Education loan at least 3 months before your University Fees deadline or visa interview. The Government banks might take more time if we compare them with NBFCs or private banks.
  5. Tax Benefits - Most banks provide Tax Exemption under 80E on the interest paid upon an education loan. You or your co-applicant can avail of the exemption for a maximum of 8 years or tenure of loan, whichever is shorter. The tax benefit has to be availed in India only.
  6. Concession - The selected Government banks provide female applicants a 0.50% discount in interest rate. Make sure to verify the same before availing yourself of an education loan. For example, if the bank offers the usual interest rate of 9.5%, the female applicant will get it at 9%.
  7. Early Repayment - They might not allow you to repay your education loan earlier than the loan tenure or ask for early repayment or pre-closure charges. They might also have a lock-in period for early repayment.
  8. Living Costs - They might not cover your living costs during your course duration. In that case, you have the living costs such as rent, food, transportation, etc.
  9. Collateral - To get more loan amounts and a cheaper interest rate, you have to provide collateral or a guarantee. The collateral can be a home, shop, plot excluding farming land, or fixed deposits. You can choose an unsecured loan if you don't have anything to provide as collateral.
  10. Hidden Charges - They might have some hidden charges along with an education loan
    • Processing Fees - They charge processing fees of 0% to 5% on the loan amount. Before continuing with the application, it is advised to double-check or inquire. Even a 0.5% difference might increase the processing fees by Rs 25,000 in a Rs 50 lakh loan. For example, if the loan amount is Rs 50 lakh, the processing fees might be around Rs 50,000 to Rs 1,00,000 or more.
    • Forex Margin - The tuition fees and living expenses will be in foreign currency, and the bank will charge foreign markup of around 1% - 2% to convert INR to foreign currency.
    • Credit Life Insurance - To minimize the loan default, they have to secure you with Life Insurance to cover the loan amount in case of mishappening.
    • Investments & Policies - Their staff might manipulate you to purchase Term insurance or similar policies before or after sanctioning the loan for their own benefit.
    • Interest Rate in different currencies

The Bank or NBFC might have different rules and regulations based on multiple factors such as an applicant profile, collaterals, university or college, course type, etc.

Apply Now

The Secured Education Loan is better than the Unsecured one as you will get a cheaper interest rate, a higher moratorium period, quicker processing, and more choices in terms of Banks and NBFCs.

In Secured Education Loan, the bank or NBFC grants you a loan based on collateral or guarantee such as property, plot, or fixed deposit. The interest rate is lower than that of an unsecured loan, and the processing time is shorter because the bank is at a lower risk of default. In a secured education loan, the applicant may have average or low academics, and there is a wider range of colleges and universities to choose from.

If the applicant has no fixed deposit or property to offer the bank or NBFCs as a guarantee. In this situation, a borrower may be eligible for an unsecured loan based on their academic standing and likelihood of achievement. For an unsecured education loan, the applicant must have good to excellent academics. There are fewer options for banks and NBFCs, a higher interest rate, no moratorium period, and longer processing with this option.

However, we will help you apply for both Secured and Un-Secured Education Loans on a case-to-case basis.

Secured Education Loan Un-Secured Education Loan
Lower Interest rate Higher Interest rate
Quicker processing Slower processing
Longer Re-payment period Shorter Re-payment period
Moratorium Period Moratorium Period
High Approval Chances Low Approval Chances
Co-Applicant income not required Co-Applicant income required
More Banks & NBFCs Less Banks & NBFCs
More University choices Less University choices
Apply Now

The Individual can avail of the Tax benefit of interest paid on an Education Loan under Income Tax Section 80E for a maximum of 8 years or till the tenure of the Loan, whichever is earlier. The Individual can be the Parent, Spouse, or Legal guardian of the applicant who has taken an Education Loan from an approved financial institution or any charitable institution. There is no cap on Tax benefit you can avail, but it is available only on Interest paid.

Apply Now & Save Tax

FAQs

Questions usually asked by Students

Frequently Asked Questions

The Collateral/Security is optional for an Education Loan if course level is above Bachelors. However, the lender might ask for Property or Fixed Deposit if the credit profile or academic profile is not up to mark.
With Collateral, you can may get ~2% lower interest rate, faster processing, and no-repayments during study period (Moratorium).
Co-Applicant can be your parents, siblings, spouse, parent's siblings, parents-in-law, first cousins depending on the financial institution
The processing time ranges between 2-7 working days depending upon the lender. However, some lenders such as Government Bank might take more time for evaluation.

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