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Top Education Loan Providers in India to Study Abroad

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Although various scholarships and other financial aid alternatives exist for study abroad candidates, not all students become qualified for them. Subsequently, education loans are viewed as one of the important parts of the study abroad plan of a study. Education loans for studying abroad are given by all the significant banks in India. We present below names of some of the Top Education Loan Providers in India for study abroad candidates.

Top Education Loan Providers in India to Study Abroad

Name of Bank    Loan Amount Rate of Interest per Annum
State Bank of India 20 lakhs Upto 7.5 lakhs- 11.01%

Above 7.5 lakhs- 10.75%
Allahabad Bank 50 lakhs

Upto 4 lakhs- 11.45%

Upto 7.5 lakhs- 11.45%

Above 7.5 lakhs- 10.95%
Axis Bank 20 lakhs and beyond depending on requirement

Upto 4 lakhs- 16.50%

Upto 7.5 lakhs- 17.50%

Above 7.5 lakhs- 15.50%
HDFC Upto 10 lakhs

Max-15.25%

Min- 9.50%

Avg-12.41%
Credila No limit. Depends on requirement 12.10%+ floating rate(depends on the risks points of the applicant)
Punjab National Bank (PNB) 20 lakhs

Upto 7.5 lakhs- 11.25%

Above 7.5 lakhs- 11.85%

for education at premier foreign universities- 9.85%
IDBI Bank Depends on requirement

Upto 10 lakhs-10.45%

Above 10 lakhs-11.45%
Indian Overseas Bank (IOB) Upto 40 lakhs

Upto 4 lakhs- 11.50%

Upto 7.5 lakhs- 12.00%

Above 7.5 lakhs- 12.25%
State Bank of Mysore Upto 40 lakhs

Upto 4 lakhs- 12.20%

Upto 7.5 lakhs- 12.20%

Above 7.5 lakhs- 11.20%

Above 10 lakhs- 11.70%
Avanse Financial Services No limit. Depends on requirement 11.5%+ floating rate(depends on the risks points of the applicant)
Syndicate Bank 20 lakhs

Upto 4 lakhs- 11.00%

Upto 7.5 lakhs- 11.25%

Above 7.5 lakhs- 12.25%
Canara Bank 20 lakhs. Depends on requirement

Upto 4 lakhs- 11.15%

Upto 7.5 lakhs- 11.65%

Above 7.5 lakhs- 11.15%

Government of India

In consultation with Reserve Bank of India (RBI) and Indian Bankers’ Association (IBA), the Government of India has framed a Comprehensive Educational Loan Scheme. The new plan covers all type of courses, including professional courses in schools and colleges in India and abroad.

The salient features of the scheme related to study abroad are:

  • The scheme envisages loans up to Rs. 15 lacs for studies abroad.
  • For loans up to Rs. 4 lacs, no security or margin is required and the interest rate is not to exceed the Prime Lending Rates (PLR). For loans above Rs. 4 lacs, the loan cost won’t exceed PLR plus 1 percent.
  • The loans are to be paid over a time of 5 to 7 years with provision of grace time of one year after completion of studies.

State Bank of India

The State Bank of India gives the SBI Student Loan proposal for Indian nationals to pursue their education abroad. The education loan for studying abroad is given work oriented professional, specialized Graduation Degree courses, or Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed colleges.

For studying abroad, the maximum loan of the amount given is Rs. 30 lacs and the repayment will start one year after finishing of course or 6 months after securing a job, whichever is prior. The repayment time frame differs from 10 years to 12 years depends upon the loan amount.

Allahabad Bank

Some other Top Education Loan Providers in India to study abroad on similar terms as that of Allahabad Bank Education Loan are:

  • ICICI BANK
  • Union Bank of India
  • J & K Bank
  • Bank of Maharashtra
  • Bank of Baroda
  • Central Bank of India
  • Bank of India

The Allahabad Bank gives education loans to Indian residents who confirm admission to professional or specialized courses in standard foundations abroad through entrance test or merit based selection process after finishing of HSC. The study abroad courses competent for the Allahabad Bank Education Loan are:

  • Graduation: For Job oriented professional or specialized courses offered by reputed colleges
  • Post Graduation: MCA, MBA, MS etc
  • Courses held by CIMA London, CPA in USA etc
  • Regular Degree or Diploma courses like Shipping Authority, Local Aviation, State Body, the establishment appropriately perceived by the equipped college, shipping and so on, pilot preparing, or aeronautical. The quantum of loan given is need based subject to repaying limit of the guardians or students with a ceiling of Rs. 20 lacs.

Axis BANK

HDFC Bank

The features of the HDFC Bank Education Loan for Foreign Education are:

  • Education loans up to Rs. 20 lacs and unsecured lending up to Rs. 7.5 lacs are provided.
  • No collateral is required for loans up to Rs. 7.5 lacs.
  • The maximum repayment tenure is up to 15 years post moratorium period.

Axis Bank’s Education Loan expects to give economic support to justifiable students for pursuing higher professional or specialized education in India and abroad. The education loan is given to students who have obtain admission to career oriented courses e.g. engineering, management, medicine and etc., either at the graduate or post-graduate level.

The quantum of fund under the Axis Bank Education Loan proposal is capped at Rs 20 lacs for studies abroad, which would include cost of books, tuition fees, hostel charges etc. The minimum amount of education loan is Rs 50,000. There is no edge for education loans up to Rs 4 lacs, and for loans above Rs 4 lacs there is 15% margin for studies abroad.

Credila

Credila is a non bank finance company concentrated on education loans. It is a subdidary of HDFC Ltd.

Punjab National Bank (PNB)

The PNB offers the PNB Saraswati scheme for giving education loan to meritorious students to pursue higher education and technical education in India and abroad.

The real pointers of the PNB education loan scheme are:

Courses approved:

Quantum of Finance: up to 20 lacs

Graduation: For work oriented professional or specialized courses offered by reputed colleges.

Post graduation: MCA, MBA, MS, etc.

Courses directed by CIMA – London, CPA in USA etc.

Degree or Diploma courses like shipping, pilot training, aeronautical etc gave these are standard by proficient regulatory bodies abroad with a view of work in India or abroad.

Repayment period: up to 10 years for loans of Rs. 7.50 lacs or below and up to 15 years for loan above Rs. 7.50 lacs

Edge of 15% for credit above Rs. 4 lacs

IDBI Bank

IDBI Bank offers education loan to justifiable students for pursuing higher education in India and abroad. The facility is also being presented to the estimable students who have reserved admission through Management Quota.

The quantum of fund is a maximum of Rs. 20 lacs for studying abroad. The repayment time frame is from 10 to 15 years. Find below the IDBI Bank education loan Rate of Interest table.

Loan Amount Rate  of Interest
Loans qualifying as Priority Sector Lending(PSL) :

Up to Rs. 20 lacs for studies Abroad

 BR+1% (currently 11.25%)

(Floating)
Loan amounts not qualifying as Priority Sector Lending(PSL) :

Above Rs. 20 lacs for studies abroad

 BR+2% (currently 12.25%)

(Floating)

Education Loan by IDBI Bank:

  • Fee payable to college / school / hostel
  • Examination / Library / Laboratory fee
  • Purchase of books / equipments / instruments / uniforms
  • Caution deposit / building fund / refundable deposit supported by Institution bills / receipts
  • Travel costs / passage money for studies abroad
  • Obtain computers – essential for completion of the course
  • Any other cost required to complete the course – like study tours, project work, thesis, etc.
  • Insurance premium for student borrower, if insurance cover sought

HSBC India

Given below is a list of few other Education Loan Providers in India to study abroad.

  • Cosmos Bank
  • Lakshmi Vilas Bank
  • DCB Bank
  • Abhyudaya Co-Operative Bank Ltd
  • Karur Vysya Bank
  • Vijaya Bank
  • United Bank of India
  • State Bank of Hyderabad
  • Indian Bank
  • Andhra Bank
  • Punjab & Sind Bank
  • Oriental Bank of Commerce
  • Tamilnad Mercantile Bank

HSBC, in association with Global Student Loan Corporation, offers education loan to students who are looking to achieve a world-class education at a school or college in the USA. HSBC India Student Education Loan Program empowers students to borrow funds to cover the expense of education – educational cost-tuition, fees, room charges, boarding, books, and other education related costs.

Some of the exceptional elements of the HSBC education loan to study abroad offered are that up to Rs. 1 crore is given against private property and the residency is up to 15 years.

Indian Overseas Bank (IOB)

The IOB gives education loans to Indian nationals who have secured admission to proficient or specialized courses abroad. The loan is offered just for Graduation and Post Graduation Courses offered by reputed colleges. The quantum of credit accessible is dependent upon Rs. 40 lacs for studying abroad. The repayment time frame is for a most extreme time of 5 – 7 years excluding holiday time of six months after getting the job or 12 months after finishing of the course, whichever is prior.

State Bank of Mysore

The State Bank of Mysore’s Gnanamitra Educational Loan scheme gives loans to students to cover educational cost and different fees, maintenance expenses, or books and equipment and cost of section for studies abroad etc., to pursuing studies at recognized college, college or establishment. The courses qualified for the loan are diploma, graduate, post-graduate courses in the faculties of Engineering, Technology, Architecture, Medicine, Dental Science, Agricultural Science, Veterinary Science and Computer Certificate courses of reputed foundations authorize to department of electronics or affliated to college. The maximum amount of loan given is Rs. 20 lacs.

Avanse Financial Services

Avanse gives education loans to Indian citizens over 18 years old for seeking after graduation or post-graduation for work oriented professional or technical courses offered by reputed colleges outside India and additionally courses and colleges confirmed by Avanse for education financing. With a minimum amount criterion of Rs. 1 lacs, there is no maximum limit and the loan amount is calculated according to need. The repayment time frame can be 12 to 120 months depending upon the loan amount.

Syndicate Bank

The Syndicate Bank’s extensive Education Loan Scheme, SyndVidya, gives need based fund to cover costs related to education, for example, fees payable to college, hostel, examination, library, research centre expenses, caution deposit, building fund, or refundable deposit up to 10% of equipement, cost of books,, tuition fees, travel costs for studies abroad etc. Just capitation fees, donation or external coaching expense are not included. The loan scheme has a maximum limit of Rs.20 lacs for abroad courses. The repayment time frame is five to seven years. The study abroad courses qualified for the SyndVidya scheme are:

  • Graduation: for work oriented professional or specialized courses offered by well-known colleges
  • Post-graduation: MCA, MBA, MS etc
  • Courses directed by CIMA-London, CPA in USA etc

Canara Bank

The Canara Bank offers education loans to study abroad for work oriented, specialized or professional graduation and post-graduation courses. The quantum of fund is dependent upon Rs. 20 lacs and the repayment time frame is up to 10 or 15 years relying upon the loan amount.

MS In Europe Or MBA In India: Where to Go?

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MS In Europe Or MBA In India

With the current market trends two significant options emerge for graduates in Science (B.Tech, B.Sc, B.E. etc.). They are MBA or MS. It is common knowledge that an MBA from outside India gives you a wider perspective than an MBA from India. For students unfamiliar with the aspects of the Commerce side of education, it doesn’t make much sense to pursue an MBA abroad, having to deal with a lot of variables. MS, however, operates on a different rung of the ladder.

In a word, one can say after understanding the nature of M.Tech and MS that the former is for the more hardworking and MS is more for the research-oriented. But in cases where finance is the concern, MBA seems the easy option in India because there are lesser variables to deal with. This article, for that purpose, attempts to understand that.

There are chiefly two things to analyse before that decision is made. This article, however, details from the POV of tier I colleges.

Here is the clarification for what to chooses study MS in Europe or India

Associated Finance:

An MBA from the IIMs would cost you between 15-23 lakhs for the two years including the living costs. India has been ranked amongst the most affordable country to study in. Therefore you need not worry much about the living costs here. An MS in Europe, on an average, costs you anywhere between USD 10000 to USD 17000 and its just the tuition costs. Costs of living and other costs such a student union fee, or other registration fees would amount, usually, to about as much as the tuition fees. That would mean the average cost of studying in Europe would range from 13000-35000 USD, translating roughly into 8 to 20 lakh rupees. This is not widely different from an MBA.

However, it is the salary component that one must consider. Though IIMs advertise an average package of 12 Lakh rupees, the average pay package ranges to about 20 Lakh rupees for a domestic placement. A foreign placement would give you significantly higher pay package. An MS from Europe would pay you about USD 60000 amounting to about 40 Lakhs per annum. There is also one more thing to consider. Countries of Germany, Poland and Czech Republic offer education at their public universities for free if you can speak the native tongue. This is the same for all post-graduation courses.

The second element that one must consider is the placement. While IIMs offer the concept of spoon-feeding for career guidance and campus placements, most colleges in Europe simply offer a service called Career Guidance cell. It is upon oneself to look for a job. So a lot depends on contacts one develops and the network they have. Anything lesser, say in terms of the grade of the college, and the eligibility of the profile is reduced as well. So that is one other concern too. So purely from the point of Salary, the breakeven appears the same for both the options- India having the comfort zone and the spoon-feeding element in addition too.

Coming Home:

True, this is applicable only for the MS option. Statistics also show that only about 30% decide to come home after a stint abroad. Broadly speaking, the applicability and the value the course has internationally is an important thing as well. So when you talk about coming home, the most important thing that has to be kept in mind is understanding whether the course itself is enough or whether it is the work experience that you’d be gaining after the course that would ensure that you find suitable jobs back home.

All said and done, with Europe’s stringent laws (take the UK for example), it is extremely difficult to stay back and gain the work experience. So unless your profile is admirably good, and the college is famous for the course you’ve chosen, your research experience is valid, there’s a huge chance it’d be tough to gain a foothold back home.

The list of countries in Europe and their associated costs as a non-exhaustive and indicative list are

Name of the country Tuition Fees (USD) Cost of Living (USD) Total Cost per year (USD)

Austria

 1000 per semester 11000-13000 13000-15000

Belgium

 1000-5000 per year 11000

12000-16000

Denmark

 5000-18000 per year 13000-15000

18000-33000
Finland 2000 per year 11000 13000

France

 300 per year 11000

11300

Germany

 11000 per year 10000

21000

Ireland

 11000 per year 7000-13000

18000-24000

Italy

 1500 per year 17000

18500

Norway

 Free for public universities 15000

15000

Spain

 1700 per year 11000-14000

12700-15700

Sweden

 12000-20000 per year 12000

24000-32000

Switzerland

 2000 per year 18000-30000

20000-32000

Netherlands

10000-20000 per year

 13000

23000-33000
United kingdom 15000-18000 per year 18000

33000-36000

All in all, if you’ve decided you wanted to settle down on the science side, MS in Europe if a slightly better option in terms of initial investment, but MBA in India offers you a sure shot at clearing your loan if you’ve taken any since IIMs advertise almost 100% placement. Therefore, choose as per where your interest lies because in reality, the pros and cons are equally split favorably.

Top 9 reasons to Study in Europe

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top 9 reasons to study in Europe

Europe makes one think of jaw-dropping architecture, amazing history, inebriating languages, mouth-watering cuisine the list goes on. For somebody who has lived in only one place for quite a while, maybe some place with little sense of history or culture – study in Europe can appear like a haven brimming with new possibilities. Also it’s really easy to go through the continent and see a considerable measure in a small space of time.

What’s more, it’s not just the advantages outside the classroom which make Europe an appealing goal for students. European nations likewise boast the absolute most valued education system on the planet which implies that toward the finish of your studies you come away with a respected qualification anyhow a lifetime of experiences and memories. Actually a year studying abroad is already a popular choice for some students from other nations.

But why would it be a good idea for you to study in Europe?

1.Quality Education

Europe boasts a portion of the strongest education system in the whole world. Universities 21 ranks the best higher education system on the planet every year. In 2014, Germany, France, the Netherlands all made the best 10. There are top ranking colleges in Europe you can explore while studying abroad.

2. Continent of innovation

When you think about the word ‘development’, you may instantly consider Asia or America in view of their strong connections to technology. However did you realize that Germany is the home of technology and programming which you utilize each day? Skype, Spotify, Candy Crush, Mine craft and Angry Birds all originate from Europe.

3. Europe has history

Europe has significantly more history than some other countries. Consequently Europe’s further-reaching origins regularly appeal to people who don’t exactly have a similar sense of history back home. You’ll be totally shocked by the jaw-dropping architecture and stays of yesterday. Additionally, in case you’re a history student, these adventures may advise your studies as well.

4. See a lot, close together

Europe is comprised of around 50 nations and they all differ as far as traditions, way of life, language, and sights and so on. So you won’t run out of things to do and you don’t really need to jump on a plane or move across oceans to discover them. It’s generally simple to travel through Europe, particularly on the off chance that you are European yourself. “InterRail-ing” via train is a famous technique utilized by both current students, those on a gape year and travelers, permitting smooth passage across borders. In the event that you come from some place far away like Asia or America, make the most of being in Europe and see all that you can – you most likely won’t be here forever.

5. Affordable

Are you put off by the tuition fees or living costs which accompany studying abroad in other countries? It’s worth doing your research to discover what particular nations in Europe can offer. Many need to develop the reputation of their higher education areas; so they will offer scholarships for studying abroad, bursaries and financed tuition fees to entice more global students to their shores. For example, you may not know that study in France is the most affordable country in Europe!

6. Learn a new language

What better time to learn another language than when you’re young and ready to completely immerse yourself in a city where it’s spoken constantly? Knowing more than one language can truly add to your CV, opening up the opportunities where you can work in the future. Plus once you learn one language, it can regularly be easier to obtain new ones after some time as they frequently share comparative examples or vocabulary.

What’s more, in case you’re studying a languages course, really learning it in the nation where it is widely spoken is a while other experience which you shouldn’t miss out on.

7. Career options

Numerous – if not all – large international organizations will have a European headquarters notwithstanding those whose roots are in Europe. This means you can discover ample graduate opportunities, particularly as organizations expand into new markets. Related with the point above, studying in Europe can really benefit you when you start to search for that first career step. Language abilities, adaptability in new locations, learning of various cultures and markets…these would all be able to add to finding that dream work in Europe.

8. New friends

Making friends who to live around the world is an incredible aspect regarding studying abroad, and this is no different if you choose to study in Europe. Simply think, if you come back to these cities for business or pleasure in the future, you’ll have old friends to see.

9. Lifestyle

Europe has a reputation for having a relaxed lifestyle. This is true with a specific extent; while a few preconceptions about Europeans might be valid, facing European life firsthand is simply the most ideal approach to understand this for yourself. This doesn’t imply that people in these nations don’t know the meaning of hard work or that the higher education system here are insufficient with lacking. Rather this relaxed attitude is evident in an extensive variety of conditions and zones of European life.

How to Choose Best University to Study in France?

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how to choose best universities in France

France is one of the best student hosting country in the world. Students can choose various  Study options in France in Management, Engineering, Technology, Fashion, Hospitality management etc. There are many universities (Private & Public) which offers programs 100% in English. It means you can study in France in English with best universities in France .

Here is the steps to find the Best Universities in France

Top cities to Study in France

France has many big cities or students cities where you can love studying. Decide if you want to study in Paris or you have many other great options available like Lyon, Toulouse, Marsailles, Rennes etc.

University Selection

Depending your academics and experience, you can choose universities in France. France has highly renowned universities with great facilities to international students. Please make sure which city you would like to study in France. What is the class room size? Budget could play important role as well. For example, you will find Top/Best Business Schools in France which can cost you from 10,000 Euros/year till 30,000 euros/year or more. Do your homework. Download E brochures and check all requirements well before applying or paying an application fees.

Ranking of University

You can always check ranking of universities in France. Requirement of Top ranked universities are higher. You might be asked good GMAT or GRE score or a work experience. Accreditation can help you to know which universities are better for you to study in France.

On the whole, France can be one of the best option for your career. Good luck for your university search and do not forget to apply for Scholarships in France as France provides wide range of scholarships to International students.

Top Ranked Universities in Europe 2018

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top universities in the europe 2018

Do you know European universities takes over on more than 40% of the best colleges in the world. THE University Rankings 2018 ranks 1,000 colleges around the globe and incorporate 1102 colleges in the general list. In that list more than 400 colleges are includes the top Universities in Europe 2018.

Check here some top Universities in Europe

The University of Oxford – is on the best spot in list of Best European Universities 2018, while in continuing list, there are still more than 90 colleges of UK are available.

Germany is on second no. from the list of European countries where 44 institutions are located and many of these institutions are in list of top 50 Universities in the world.

Somewhere else in Europe, Scandinavian nations perform well, with Sweden and Finland, The Netherlands are also performs firmly.

In the Europe ranking, other solid performers in respect to their populace measure incorporate Denmark and the Republic of Ireland.

Overall, The Europe 2018 ranking list contains 35 European countries.

Here is the list of top 10 European Universities in which you can apply:-

Europe Rank 2018 World University Rank 2018 University Country
1 1 University of Oxford United Kingdom
2 2 University of Cambridge United Kingdom
3 8 Imperial College London United Kingdom
4 =10 ETH Zurich – Swiss Federal Institute of Technology Zurich Switzerland
5 16 University College London United Kingdom
6 =25 London School of Economics and Political Science United Kingdom
7 =27 University of Edinburgh United Kingdom
8 =34 LMU Munich Germany
9 36 King’s College London United Kingdom
=10 =38 École Polytechnique Fédérale de Lausanne Switzerland
=10 =38 Karolinska Institute Sweden

View the complete ranking here – Top Universities in Europe 2018

Check here :- How to get study in Europe in 2018?

How to Get Study in Europe 2018?

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study in europe

If you are a student planning to study abroad, the first thing you should know about Europe is that it will provide you top quality education at the lowest possible price. In addition, the range of options for courses in various disciplines is simply overwhelming! We are sure that you are aware of the number of Nobel laureates that Europe has produced over the last few centuries! Whether you intend to join an industry after your higher studies, or spend your life researching in laboratories, Europe will ensure that you have the best of the infrastructure and other related support. Read on, to know more about study in Europe!

Why study in Europe?

Are you bored of the way in which teaching happens in your country? Do you feel that rote learning is killing you? Do you feel suffocated due to lack of academic freedom to do anything new?

In Europe, you will not just earn a degree or two, you will become a modern and influential person, ready to take your company, organization, or country forward!

You probably were meant to study in Europe from the beginning. For now, there still are opportunities that you can explore. Europe will give you the most updated and modern teaching methodologies. The system of education in the continent liberates rather than bores and traps. Education is not supposed to be a burden, and Europe will prove to you that every second of your stay there!

Last but not the least, we are talking about Europe in this article. How can any discussion on the continent be complete without touching upon the aspect of its incredible beauty, and the touring experience it offers its guests! Intense studying needs refreshing yourself every once in a while, does it not? Simply pack your bags and go on a trip. Soak in the soul-touching beauty of the land, and return to your books refreshed and ready to begin all over again!

Education cost in Europe

The best part is, you will have the opportunity to work and earn your tuition fees while you study! Consider all these plus points, and you will know that there is simply no better place for you to study. So do not spend any more time in taking the wisest decision of your life! Should you need any further assistance, we are always there for you. Bon voyage!