Indian students have a hard time because the cost of foreign schooling keeps going up. RBI data shows that Indian students borrowed more than ₹7,500 crore in 2023 to pay for their studies abroad. Finding the right loan for study abroad is essential, as postgraduate classes in the US, UK, or Canada cost between 30 and 70 lakhs. Students often look at the Axis Bank Overseas Education Loan, the HDFC Credila Overseas Education Loan, and the Avanse Overseas Education Loan side by side to see which one is best for them.
Why The Right Loan For Study Abroad Matters
To get a master’s degree abroad, you have to pay for fees, housing, insurance, and travel. Lower interest rates, moratorium perks, and tax savings are all guaranteed with the right loan for study abroad! Getting into a university is important, but finding a student-friendly way to pay for it is even more so now that competition for spots and money is heating up.
In case you are planning to study abroad, contact Eduloans to seek professional advice on universities, applications, and education loan services.
Axis Bank Overseas Education Loan: Features And Benefits
The Axis Bank Overseas Education Loan is well-known for its flexibility and higher loan amounts.
- Loan coverage up to ₹40 lakhs without collateral and even higher with security.
- Competitive interest rates between 10–12%.
- A stop on payments that lasts as long as the course does plus six months after it’s over.
The Axis Bank Education Loan is a good choice for college students who want to go to well-known schools around the world.
HDFC Credila Overseas Education Loan: Tailored For Students
The only thing the HDFC Credila Overseas Education Loan is used for is paying for school.
- Loan amounts that are different for each country and organisation.
- Going straight to foreign universities to pay school fees.
- Up to 15 years to pay back the loan, with tax breaks under Section 80E.
The credila education loan is popular with students because it has flexible terms and a long repayment window, which makes it easier to handle money after college.
Avanse Overseas Education Loan: Flexible And Modern Choice
The Avanse Overseas Education Loan is made to meet the wants of today’s students.
- We offer loans of up to ₹40 lakhs with no collateral.
- Full coverage, including fees for education, housing, travel, and exams.
- Quick digital decisions with little paper work.
The Avanse abroad education loan is unique because it focusses on living costs. This makes it perfect for graduate students learning in expensive cities around the world.
Comparative Insights: Axis vs HDFC Credila vs Avanse
- Axis Bank Overseas Education Loan: A great option for students who need a big secured loan and want help from a trusted bank.
- HDFC Credila Overseas Education Loan: This is the best option for people who want personalised help and tax benefits.
- Avanse Overseas Education Loan: Great for students who need money without putting up any collateral and want to cover all their living expenses.
The best Education loan for abroad relies on the student’s financial situation, the school they want to attend, and their ability to make their payments.
Conclusion
If you want to pay for college, you should look at the Axis Bank Overseas Education Loan, the HDFC Credila Overseas Education Loan, and the Avanse Overseas Education Loan side by side. There are benefits to each option that can help students meet their goals without having to worry too much about money. Some options provide tax exemptions or cover certain lifestyles, e.g. When you make the right decision it can be very easy to get in, and pay back.
Eduloans offers comprehensive study abroad services and counseling to students who need guidance, making the entire process easier from applying for a loan to securing funds and preparing for their international studies.
Most of the time, students need letters of acceptance, grade reports, proofs of identity and income, and, if necessary, collateral papers.
To avoid delays, you should start three to four months before you apply for your visa.
Yes, most lenders do cover some or all of the living costs, as well as education and travel, though the amounts vary.
Some banks do let you move the amount of your student loans to a different bank if you find better terms.
Depending on lender rules, students can ask for restructured loans, longer payback terms, or short-term relief.