Interest Rate
starts 9.30%
Amount
Upto ₹40 Lacs
Processing Fee
₹0
Type
Bank
Loan Tenure
15 years
Tax Benefits
Yes
Interest Rate
starts 9.5%
Amount
Upto ₹35 Lacs
Processing Fee
1% - 2%
Type
Bank
Loan Tenure
15 years
Tax Benefits
Yes
Interest Rate
starts 10.95%
Amount
Upto ₹100 Lacs
Processing Fee
1% - 2%
Type
Bank
Loan Tenure
12 years
Tax Benefits
Yes
Interest Rate
starts 10%
Amount
Upto ₹75 Lacs
Processing Fee
2%
Type
Bank
Loan Tenure
15 years
Tax Benefits
Yes
Interest Rate
starts 10.5%
Amount
Upto ₹60 Lacs
Processing Fee
1% - 1.5%
Type
NBFC
Loan Tenure
15 years
Tax Benefits
Yes
Interest Rate
starts 10.5%
Amount
Upto ₹45 Lacs
Processing Fee
1% - 2%
Type
NBFC
Loan Tenure
10 years
Tax Benefits
No
Interest Rate
starts 10.5%
Amount
Upto ₹40 Lacs
Processing Fee
1% - 1.5%
Type
NBFC
Loan Tenure
15 years
Tax Benefits
No
Higher Education in Australia is expensive for International Students compared to India and equally rewarding at a later stage. To be eligible for the Australia Visa, you must prove your financial ability to fund your education in Australia. The acceptable ways are having a bank balance, fixed deposit or a healthy income, such as selling property. But unfortunately, many students does not have access to such funds but want to study overseas. One of the popular and secure ways to arrange the funds is getting an Education loan, an acceptable funding source for Australia Study Visa. If you are taking an education loan, you are not required to maintain the minimum required funds for at least 3 months. Many students in India and foreign countries get education Loans to fund their studies in Australia and overseas.
The funds are required to fulfil the visa requirements, pay the university fees, pay for living and travel expenses etc. The Banks & NBFCs expected that total expenditure for Study in Australia is about Rs 40 Lacs for Indian Students, so they majorly grant up to this amount only. This amount is enough for the majority of the students. We will help you get the expected amount if you need more.
Many Banks and NBFCs provide Education loans to students wanting to study in Australia. To be eligible for it, you must fulfil the following eligibility criteria.
Connect with our Education Loan Expert and get your application processed within 3-4 working days*
The applicant must share these documents to obtain an education loan in India. Almost all financial institutions have similar requirements regarding the documentation part. Depending on the applicant's profile, they may ask you for more documents, but here are the common list of documents.
Australia has world-class universities such as the University of Sydney, the University of Melbourne, Australian National Universities and much more. Their standard of living is the cherry on top. The total cost to Study in Australia depends on the level of study, type of course and choice of university. You can refer to the below-mentioned table for basic estimations.
Also, Australian universities are famous for offering huge scholarships to International Students. You can expect a 20-25% scholarship if you have good academics.
| Level | Type of Expenses | Cost / yearly |
|---|---|---|
| Undergraduate Bachelor's Degree |
|
|
| Postgraduate Master's Degree |
|
|
| Doctoral's Degree |
|
|
| Vocational Education & Training |
|
|
To Study in Australia, a student has to bear many mandatory expenses, such as
That's huge. I know, but don't worry; an education loan for Australia covers all expenses required for a smooth visa process. Abroad Cube will help you to get 100% finances for your expenses in Australia while studying.
Before choosing between an UnSecured and Secured Education Loan for Australia, please consult your University regarding the requirements. Some Universities do not accept UnSecured Loans, and some take only particular banks. If required, pre-visa disbursement is offered by many private Banks and NBFCs.
The most chosen option by study abroad aspirants is an unsecured education loan because it requires no collateral or security. The eligibility is based on University Ranking, Course type, Student Academics, Financial History and income of Co-Applicant. Being faster and more accessible compared to a Secured Education Loan, it is quite famous among students. The interest rate starts at 9.30% and varies based on the complete application. The decision process takes 3-4 days on average if the bank has complete documentation.
Being slightly long but equally rewarding, the Secured Education Loan is chosen by Students looking for a better interest rate or failing to meet an Unsecured Loan's eligibility criteria. The bank may take a long time to process the application because of Legal and Technical security requirements. The Collateral is generally a property such as a Home, Shop or Building or a Fixed Deposit. The interest rate starts at 9% and has easier eligiblity criteria.
Choosing the best education loan for Study in the Australia is important to avoid stress and save on your funds. Here are some tips to ace the Education Loan journey.
If you are looking for an Education Loan, you are in the right place. We will help you get funds for your dream of studying in Australia from the world's best universities.
When applying for an education loan through Abroad Cube, you can expect higher chances of approval as our expert will verify the documents before submission and suggest better alternatives for higher approval.
Using the latest technology and years of experience, we expedite the application process by 65%, reducing overall processing time. Applying using the exact required documents with the eligible lender is the key to getting an application processed in record processing time.
Our Education Loan Expert will send you a Personalized Document Checklist, removing all unnecessary documents, easing the process and giving you peace of mind.
We will help you get Comparable, Negotiated and best-suited Education Loan deals, saving you up to Rs 3 Lakhs. The major negotiable components are Interest Rate and Processing Fees.
We are not charging any service fees for helping with the Study Abroad Education Loan. Also, there are no hidden fees involved, which is guaranteed. For each approval, we get paid a referral fee by concerned Banks and NBFCs without any additional charge to students.
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