{"id":1500,"date":"2025-12-11T06:52:14","date_gmt":"2025-12-11T06:52:14","guid":{"rendered":"https:\/\/www.eduloans.org\/blogs\/?p=1500"},"modified":"2025-12-11T06:52:15","modified_gmt":"2025-12-11T06:52:15","slug":"private-banks-vs-nbfcs-which-is-better-for-study-loans-abroad","status":"publish","type":"post","link":"https:\/\/www.eduloans.org\/blogs\/private-banks-vs-nbfcs-which-is-better-for-study-loans-abroad\/","title":{"rendered":"Private Banks vs NBFCs: Which Is Better for Study Loans Abroad?"},"content":{"rendered":"\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1501 size-full\" src=\"http:\/\/www.eduloans.org\/blogs\/wp-content\/uploads\/2025\/12\/Private-Banks-vs-NBFCs-Which-Is-Better-for-Study-Loans-Abroad.jpg\" alt=\"\" width=\"1200\" height=\"650\" srcset=\"https:\/\/www.eduloans.org\/blogs\/wp-content\/uploads\/2025\/12\/Private-Banks-vs-NBFCs-Which-Is-Better-for-Study-Loans-Abroad.jpg 1200w, https:\/\/www.eduloans.org\/blogs\/wp-content\/uploads\/2025\/12\/Private-Banks-vs-NBFCs-Which-Is-Better-for-Study-Loans-Abroad-300x163.jpg 300w, https:\/\/www.eduloans.org\/blogs\/wp-content\/uploads\/2025\/12\/Private-Banks-vs-NBFCs-Which-Is-Better-for-Study-Loans-Abroad-1024x555.jpg 1024w, https:\/\/www.eduloans.org\/blogs\/wp-content\/uploads\/2025\/12\/Private-Banks-vs-NBFCs-Which-Is-Better-for-Study-Loans-Abroad-768x416.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n\n\n\n<p>Dreaming of studying abroad but worried about the financial burden? You\u2019re not alone. In 2024, over <strong>7.5 lakh Indian students<\/strong>&nbsp;went overseas for higher education, and nearly <strong>70%<\/strong>&nbsp;of them depended on a <strong>study loan abroad<\/strong>. It&nbsp;might be difficult to decide whether to go for a private bank or an NBFC since both have advantages and disadvantages. A correct choice will allow you to concentrate on your studies without any worries, whereas an incorrect one might result in you being overwhelmed with documentation or heavy \u200cinstallments.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\" role=\"button\"><label for=\"item-69f020c255d19\" ><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input aria-label=\"Toggle\" aria-label=\"item-69f020c255d19\"  type=\"checkbox\" id=\"item-69f020c255d19\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.eduloans.org\/blogs\/private-banks-vs-nbfcs-which-is-better-for-study-loans-abroad\/#Understanding_the_Difference\" title=\"Understanding the Difference\">Understanding the Difference<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.eduloans.org\/blogs\/private-banks-vs-nbfcs-which-is-better-for-study-loans-abroad\/#Comparing_Loan_Features_for_a_Study_Loan_Abroad\" title=\"Comparing Loan Features for a Study Loan Abroad\">Comparing Loan Features for a Study Loan Abroad<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.eduloans.org\/blogs\/private-banks-vs-nbfcs-which-is-better-for-study-loans-abroad\/#Flexibility_and_Accessibility_with_NBFCs\" title=\"Flexibility and Accessibility with NBFCs\">Flexibility and Accessibility with NBFCs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.eduloans.org\/blogs\/private-banks-vs-nbfcs-which-is-better-for-study-loans-abroad\/#Why_Choose_Credila_Overseas_Education_Loan\" title=\"Why Choose Credila&nbsp;Overseas Education Loan?\">Why Choose Credila&nbsp;Overseas Education Loan?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.eduloans.org\/blogs\/private-banks-vs-nbfcs-which-is-better-for-study-loans-abroad\/#Final_Verdict\" title=\"Final Verdict\">Final Verdict<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.eduloans.org\/blogs\/private-banks-vs-nbfcs-which-is-better-for-study-loans-abroad\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"h-understanding-the-difference\"><span class=\"ez-toc-section\" id=\"Understanding_the_Difference\"><\/span><a><\/a><strong>Understanding the Difference<\/strong><strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Remote&nbsp;the RBI control private banks as Axis, ICICI or HDFC and give structured loan products as the <a href=\"https:\/\/www.eduloans.org\/axis-bank-overseas-education-loans\"><strong><u>Axis Bank Overseas Education Loan<\/u><\/strong><\/a>&nbsp;that has fixed eligibility and repayment \u200d\u200cterms. In contrast, NBFCs (Non-Banking Financial Companies) operate more flexibly, providing a <a href=\"https:\/\/www.eduloans.org\/nbfc\"><strong><u>NBFCs education loan<\/u><\/strong><\/a>&nbsp;that\u2019s easier to access for students with limited collateral or non-traditional profiles.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-comparing-loan-features-for-a-study-loan-abroad\"><span class=\"ez-toc-section\" id=\"Comparing_Loan_Features_for_a_Study_Loan_Abroad\"><\/span><a><\/a><strong>Comparing Loan Features for a Study Loan Abroad<\/strong><strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When applying for a <a href=\"https:\/\/www.eduloans.org\/blogs\/step-by-step-guide-to-the-education-loan-process-for-studying-abroad\/\"><strong><u>study loan abroad<\/u><\/strong><\/a>, the choice often depends on personal eligibility and financial strength.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Collateral Requirements: <\/strong>If a bank is going to grant a high-value loan, it will certainly ask for collateral, while Non-Banking Financial Companies (NBFCs) usually give unsecured loans of up to \u20b950 &#8211; 60 lakhs.<\/li>\n\n\n\n<li><strong>Interest Rates:<\/strong>\u00a0The <a href=\"https:\/\/www.eduloans.org\/blogs\/axis-bank-abroad-education-loan-2025-features-application-process\/\"><strong><u><strong>Axis Bank education loan<\/strong><\/u><\/strong><strong><u>\u00a0<\/u><\/strong><\/a>is available at attractive rates starting from around 9.5%, while NBFCs may charge slightly higher rates, but give more flexibility to the customer.<\/li>\n\n\n\n<li><strong>Processing Speed:<\/strong>\u00a0NBFCs typically process applications within 48\u201372 hours, while banks can take up to two weeks.<\/li>\n\n\n\n<li><strong>Coverage:<\/strong>\u00a0NBFCs can cover 100% of tuition and living expenses, whereas banks may finance up to 85\u201390%.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-flexibility-and-accessibility-with-nbfcs\"><span class=\"ez-toc-section\" id=\"Flexibility_and_Accessibility_with_NBFCs\"><\/span><a><\/a><strong>Flexibility and Accessibility with NBFCs<\/strong><strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A <a href=\"https:\/\/www.eduloans.org\/blogs\/best-abroad-education-loan-for-postgraduate-courses-axis-vs-hdfc-credila-vs-avanse\/\"><strong><u>NBFC <\/u><\/strong><strong><u>study<\/u><\/strong><strong><u>&nbsp;loan<\/u><\/strong><\/a>&nbsp;offers more than just funding it offers adaptability. Many students studying in newer or lesser-known universities find NBFCs more welcoming. These institutions evaluate students holistically, considering university ranking, job potential, and academic background.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No collateral for top-ranked universities.<\/li>\n\n\n\n<li>Extended repayment periods up to 15 years.<\/li>\n\n\n\n<li>Simple online applications and minimal documentation.<\/li>\n<\/ul>\n\n\n\n<p>Axis&nbsp;Bank Overseas Education Loan remains a good option for students who like to follow a planned method and want to avail tax benefits.<\/p>\n\n\n\n<p>If you have a hard time comparing different lenders or picking the suitable plan, the <a href=\"https:\/\/www.eduloans.org\/hdfc-foreign-education-loan\"><strong><u>Credil<\/u><\/strong><strong><u>a<\/u><\/strong><strong><u>&nbsp;Overseas Education Loan<\/u><\/strong><\/a>&nbsp;platform is there to help students by providing a quick and easy way to analyze, apply, and get the financing that fits them \u200d\u200cbest.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-choose-credil-a-nbsp-overseas-education-loan\"><span class=\"ez-toc-section\" id=\"Why_Choose_Credila_Overseas_Education_Loan\"><\/span><a><\/a><strong>Why Choose Credil<\/strong><strong>a<\/strong><strong>&nbsp;Overseas Education Loan?<\/strong><strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Unlike traditional banks, the <a href=\"https:\/\/www.eduloans.org\/blogs\/benefits-of-choosing-hdfc-credila-for-overseas-education-loan\/\"><strong><u>Credil<\/u><\/strong><strong><u>a<\/u><\/strong><strong><u>&nbsp;Education Loan<\/u><\/strong><\/a>&nbsp;platform collaborates with multiple banks and NBFCs to ensure better approval odds. It provides tailor-made solutions based on country, course, and financial profile. With faster processing, transparent communication, and flexible options, Credial bridges the gap between lenders and students pursuing a <strong>study loan abroad<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-final-verdict\"><span class=\"ez-toc-section\" id=\"Final_Verdict\"><\/span><a><\/a><strong>Final Verdict<\/strong><strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Choosing between private banks and NBFCs depends on your financial background and flexibility needs. In case you like regulated, organised systems and want lower interest rates, the Axis Bank Overseas Education Loan is the best option. If speed, flexibility, and minimal documentation matter more, go for an NBFCs education loan, ideally through a trusted partner like Credial Overseas Education Loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-conclusion\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><a><\/a><strong>Conclusion<\/strong><strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>An&nbsp;education loan overseas is not just a money source it is a wise investment in your coming years. Banks as well as NBFCs have good points, but which one will suit you best depends on your personal profile and how comfortably you can make the \u200d\u200crepayments.<\/p>\n\n\n\n<p>Looking to simplify your education loan process? Visit <a href=\"https:\/\/www.eduloans.org\/\"><strong><u>Eduloans.org<\/u><\/strong><\/a>&nbsp;today. Their professionals assist students in comparing leading banks and NBFCs, thus facilitating quicker approvals and attractive terms. Why not have Eduloans take care of the money matters while you concentrate on your dream university \u200cabroad?<\/p>\n\n\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1765435389793\"><strong class=\"schema-faq-question\">1. <strong>Can I take out a loan for a second master\u2019s degree abroad?<\/strong><\/strong> <p class=\"schema-faq-answer\">Yes, both banks and NBFCs offer loans for second degrees, provided your academic and financial background is strong.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1765435429971\"><strong class=\"schema-faq-question\"><strong>2. When is the best time to take out a study loan?<\/strong><\/strong> <p class=\"schema-faq-answer\">It is best to take out a loan 3-6 months before one&#8217;s course starts to have the approval and money release done without a hitch.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1765435446525\"><strong class=\"schema-faq-question\"><strong>3. What if my co-applicant has a low-income?<\/strong><\/strong> <p class=\"schema-faq-answer\">Non-banking financial companies may accept a co-applicant with a moderate income if the student has good academic potential and a high rank at the university.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1765435563905\"><strong class=\"schema-faq-question\"><strong>4. Is it possible to prepay my education loan ahead of time?<\/strong><\/strong> <p class=\"schema-faq-answer\">Most banks allow loan prepayment; however, in the case of some lenders, a small penalty will be charged if the loan is paid off before the lock-in period.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1765435588289\"><strong class=\"schema-faq-question\"><strong>5. Are there any loans for part-time international courses?<\/strong><\/strong> <p class=\"schema-faq-answer\">Some non-banking financial companies can partially fund a part-time or blended program if the university and course are \u200d\u200csuitable.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dreaming of studying abroad but worried about the financial burden? You\u2019re not alone. In 2024, over 7.5 lakh Indian students&nbsp;went&hellip; <\/p>\n","protected":false},"author":8,"featured_media":1501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[145,3,98,11,2],"tags":[68,24,144,22,23],"class_list":["post-1500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-axis-bank-overseas-education-loan","category-education-loan","category-hdfc-credila-education-loan","category-overseas-education","category-student-loan","tag-axis-bank-education-loan","tag-education-loan-abroad","tag-hdfc-credila-education-loan","tag-overseas-education-loan","tag-study-abroad-education-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.2 (Yoast SEO v23.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Private Banks vs NBFCs: Which Is Better for Study Loans Abroad? - Education Loans Blog - Empowering Dreams<\/title>\n<meta name=\"description\" content=\"Compare private banks and NBFCs for study loans abroad. Discover key differences in eligibility, interest rates, processing times, and benefits to choose the best option for your overseas education financing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.eduloans.org\/blogs\/private-banks-vs-nbfcs-which-is-better-for-study-loans-abroad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private Banks vs NBFCs: Which Is Better for Study Loans Abroad?\" \/>\n<meta property=\"og:description\" content=\"Compare private banks and NBFCs for study loans abroad. 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Are there any loans for part-time international courses?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Some non-banking financial companies can partially fund a part-time or blended program if the university and course are \u200d\u200csuitable.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.eduloans.org\/blogs\/wp-json\/wp\/v2\/posts\/1500"}],"collection":[{"href":"https:\/\/www.eduloans.org\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eduloans.org\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eduloans.org\/blogs\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eduloans.org\/blogs\/wp-json\/wp\/v2\/comments?post=1500"}],"version-history":[{"count":1,"href":"https:\/\/www.eduloans.org\/blogs\/wp-json\/wp\/v2\/posts\/1500\/revisions"}],"predecessor-version":[{"id":1502,"href":"https:\/\/www.eduloans.org\/blogs\/wp-json\/wp\/v2\/posts\/1500\/revisions\/1502"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eduloans.org\/blogs\/wp-json\/wp\/v2\/media\/1501"}],"wp:attachment":[{"href":"https:\/\/www.eduloans.org\/blogs\/wp-json\/wp\/v2\/media?parent=1500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eduloans.org\/blogs\/wp-json\/wp\/v2\/categories?post=1500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eduloans.org\/blogs\/wp-json\/wp\/v2\/tags?post=1500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}