Best Banks in India for Study Abroad Education Loans (2026 Update)

Studying abroad is a dream come true for thousands of Indian students, but the cost involved can often become a hurdle. Fortunately, a wide range of banks in India offer education loans specifically designed for overseas education. Choosing the right bank can significantly reduce the financial burden and make your international education journey smoother. In this 2026 update, My Study Offers brings you a detailed guide to the best banks in India for study abroad education loans.

Before finalizing an education loan for study abroad, keep an eye on:

• Interest Rate (Fixed/Floating)
• Loan Margin
• Collateral Requirement
• Moratorium Period
• Repayment Tenure
• Processing Time & Charges

1. State Bank of India (SBI) – Global Ed-Vantage Scheme

• Loan Amount: Up to INR 1.5 crore
• Interest Rate: Starts at 10.15% (floating)
• Collateral: Mandatory for loans above INR 7.5 lakh
• Repayment Tenure: Up to 15 years
• Moratorium: Course period + 6 months
• Why Choose: Trusted bank, quick disbursement, wide acceptance by universities

2. Bank of Baroda – Baroda Scholar Loan

• Loan Amount: Up to INR 80 lakh (higher on a case-by-case basis)
• Interest Rate: Around 9.70% (floating)
• Collateral: Required above INR 7.5 lakh
• Repayment Tenure: Up to 15 years
• Moratorium: Course duration + 1 year
• Why Choose: Subsidy schemes, flexible repayment options

3. Punjab National Bank (PNB) – Udaan Scheme

• Loan Amount: Up to INR 1 crore
• Interest Rate:05% onwards
• Collateral: Required above INR 7.5 lakh
• Repayment Tenure: Up to 15 years
• Why Choose: Government-linked, interest subsidy schemes available

4. ICICI Bank Education Loan for International Studies

• Loan Amount: Up to INR 1 crore
• Interest Rate:50% – 12.75% (floating)
• Collateral: Optional based on loan amount
• Processing Time: Fast-track within 48 hours (conditions apply)
• Why Choose: Pre-admission loan sanction, no margin money

5. HDFC Credila

• Loan Amount: Customizable, no upper limit
• Interest Rate: Depends on profile, starts at ~11.25%
• Collateral: Required (flexible for top admit students)
• Repayment: Can begin during course or post-course
• Why Choose: Tailor-made loans, funding even before admission

6. Axis Bank Education Loans

• Loan Amount: Up to INR 75 lakh
• Interest Rate: 13% onwards (floating)
• Processing Fee: Up to 2%
• Collateral: Required for loans > INR 7.5 lakh
• Why Choose: Quick disbursal, minimal documentation

• Start Early: Loan processing can take 2–4 weeks
• Pre-Approve: Secure conditional sanction to strengthen your visa file
• Negotiate: Some banks offer discounts for female students or top universities
• Seek Expert Help: Our counselors can guide you on the best bank according to your course, country, and budget

As one of the study abroad consultants in India, we go beyond university applications. We help you with:

• Loan comparison and eligibility check
• Documentation and application filing
• Education loan interviews and sanction support
• Coordination with bank partners for speedy processing

The right education loan can be the bridge between your dream and reality. With options from both public and private banks, 2026 brings promising opportunities for Indian students. Let My Study Offers be your guide in this financial journey. Reach out today and take the first step toward your global future!