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Study Abroad Education Loan

Lowest Interest Rates
Get Upto 1.5 Cr
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100+ Cr
Banks & NBFC
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


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


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


After Agreement Signing, get the disbursement in your Bank account


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Why Us

Why Choose Abroad Cube

Lowest Interest Rate

Best & Negotiated Interest Rates starting @ 9.8%


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 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

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Interest Rate starts 12.70% starts 13.65% starts 11.00% starts 11.00% starts 8.25% starts 9.00% starts 11.00% starts 11.00% starts 8.5% starts 11.99% starts 13.70% starts 10.25% starts 10.55% starts 9.54% starts 10.30% starts 10.30%
Cashback Up to ₹10,000 Up to ₹10,000 Up to ₹10,000 Up to ₹10,000 Up to ₹10,000 Up to ₹10,000 Up to ₹10,000 Up to ₹10,000 Up to ₹10,000 ₹15,000 --- --- --- --- --- ---
Loan Amount
₹65 Lac ₹1 Cr ₹1 Cr ₹1.5 Cr ₹1 Cr ₹1 Cr ₹1 Cr ₹60 Lac $80,000 $100,000 No Limit
Listed Institutions: Up to ₹1.5 Cr
Non-Listed: Up to ₹60 Lakh
₹1.5 Cr No Limit ₹2 Cr No Limit
Loan Amount
(Without Collateral)
₹65 Lakh ₹30 Lac ₹50 Lac ₹75 Lac ₹40 Lac ₹75 Lac ₹60 Lac ₹60 Lakh $80,000 $100,000 ₹40 Lac ₹7.5 Lakh --- No Limit ₹7.5 Lakh ₹7.5 Lakh
Loan Amount
₹10,00,000 ₹1 Lac --- ₹1 Lac ₹1 Lac --- ₹2 Lac ₹5 Lac $3000 $2001 ₹50,000 --- ₹7.5 Lac $15,000 --- ---
Margin Zero (up to 100% financing) Zero (up to 100% financing) Zero (up to 100% financing) Zero (up to 100% financing)
Listed Institutions: 0%
Non-Listed Up to ₹20 Lakh: 0%
Non-Listed Above ₹20 Lakh: 5-15%
Zero (up to 100% financing) Zero (up to 100% financing) Zero (up to 100% financing)
Up to ₹4 Lakh: 0%
Above ₹4 Lakh: 15%
Zero (up to 100% financing)
Listed Institutions: 0%
Non-Listed Up to ₹4 Lakh: 0%
Non-Listed Above ₹4 Lakh: 10%
Listed Institutions: 0%
Non-Listed Up to ₹20 Lakh: 0%
Non-Listed Above ₹20 Lakh: 5-15%
10% Zero (up to 100% financing)
Up to ₹4 Lakh: 0%
Above ₹4 Lakh: 15%
Up to ₹4 Lakh: 0%
Above ₹4 Lakh: 15%
Processing Fees 1% 1% to 2% 1% to 1.5% 1%
Up to 2%
Extra ₹5000 (if Real Estate Collateral)
Up to 1.5% 1% to 1.5% 1% to 2% 2.0% onwards 5% Up to 2%
Up to ₹7.5 Lakh: Zero
Above ₹7.5 Lakh: 1% upto ₹10,000
Extra ₹8500 (if Real Estate Collateral)
₹10,000 5% 1% (max ₹10,000) Zero
Processing Time 3-4 Working Days 3 Working Days 2 Working Days 12 Working Days 7 Working Days 2-7 Working Days 5 Working Days 2-3 Working Days 3 Working Days 5 Working Days 15 Working Days 20-25 working days 15 Working Days 30 Working Days 15 Working Days 15 Working Days
Loan Tenure Up to 12 Years Up to 15 Years Up to 12 Years Up to 15 Years Up to 12 Years Up to 12 Years Up to 15 Years Up to 12 Years Up to 10 Years Up to 10 Years Up to 15 Years
Up to ₹7.5 lakh: Up to 10 years
Above ₹7.5 lakh: Up to 15 years
Up to 15 Years Up to 20 Years Up to 15 Years Up to 15 Years
Tax Benefits
Prepayment Charges ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Moratorium Period 12 Months 6 months --- upto 12 months 6 months --- Yes 12 Months 6 months 6 months --- 12 Months 6 months --- 12 Months 12 Months
Countries covered Many Many Many Many Many Many Many Many USA USA & Canada Many Many Many Many Many Many
Female Concession 0.50% 0.50% 0.50% 0.50%
Life Insurance Cover Required Required Required Required Required Required Required Required Required Not Required Required Above ₹7.5 Lakh: Required Required --- Required Required
Read more Read more Read more Read more Read more Read more Read more Read more Read more Read more Read more Read more Read more Read more Read more Read more

Please note, GST will be applicable extra

  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.

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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
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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

Frequently Asked Questions

Questions usually asked by Students

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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