Education Loan Abroad

Eligible Customers

  • Students should be Indian National.
  • Should have secured admission in recognized institution for approved courses after completion of HSC (10 plus 2 or equivalent).

Courses Covered

  • The Course should be approved/ recognized by the designated local academic authority/regulatory body for the stream of study concerned.
  • Institutes or Universities upto world ranking of 3000 provided in the website www.webometrics.info (indicative only)

Institutes or Universities upto world Ranking 1000 provided in the website www.topuniversities.com / www.qs.com (indicative only) will be covered.

Please click on the link below for details of courses covered


Quantum of Loan

  • Maximum RS.80.00 Lakh for Medical courses excluding Nursing
  • Maximum RS.40.00 Lakh for other than medical courses.
  • Need-based finance to meet expenses, subject to earning potential of students upon completion of the course


Quantum of Loan Purpose Margin %
Up to Rs.4.00 lacs* Studies Abroad for all courses Nil
Above Rs. 4.00 Lakhs and up to Rs. 7.50 Lakhs* Studies Abroad for all courses 15%
Above Rs. 7.5 lacs – up to Rs 80.00 Lacs Studies Abroad for Medical courses 10%
Above Rs. 7.5 lacs – up to Rs 40.00 Lacs Studies Abroad for other than Medical courses 10%


Upto Rs. 4 lacs
  • Parent(s) or co-borrower to be joint borrowers.
  • Obtention of cover under CGFSEL is mandatory.
Above Rs.4 lacs & up to Rs.7.50 lacs
  • Parent(s) or co-borrower to be joint borrowers,
  • Obtention of cover under CGFSEL is mandatory
Above Rs.7.50 lacs
  • Parent(s) or co-borrower to be joint borrowers.
  • Tangible Collateral security of suitable value acceptable to the Bank.
  • Assignment of future income of the student for payment of Installments.

Repayment Period

  • Moratorium up to course period plus 1 year.
  • Repayment period : 15 years from the date of commencement of repayment

Expenses Covered

  • Fees payable to college / school / hostel
  • Examination / Library Fees./li>
  • Purchase of books /equipment / instruments
  • Travel expenses or passage money (one way fare)
  • Purchase of computer / laptop.
  • Life Insurance Premium for life cover of student/co- borrower for total tenure of loan
  • Any other expenses related to education.


  • All the student borrowers are offered a specially designed OPTIONAL Term Insurance cover and the premium can be included as an item of finance.

Processing Charges

  • Rs. 5000/- excluding GST, to be refunded once actual loan is availed.

Coverage Under Credit

  • All Educational Loans upto Rs.7.50 lacs conforming to the guidelines of “IBA Model Education Loan Scheme for pursuing studies in India and Abroad” are eligible for coverage under CGFSEL by National Credit Guarantee Trustee Company(NCGTC)
  • All other terms & conditions as per Star Education Loan Scheme.

Students should apply online on Vidya Lakshmi Portal developed by NSDL e-Governance Infrastructure Ltd.


To apply on line on Vidya Lakshmi Portal click here


Other Conditions

  • Loan will be disbursed in stages as per requirement / demand, directly to the Institution/ Vendors of books/equipment’s/instruments to the extent possible
  • Student to produce mark list of previous term/semester before availing next instalment
  • Student / Parent to provide latest mailing address, in case of any change
  • Student /Parent to inform Branch immediately on change of course /completion of studies/termination of studies/ any refund of fees by college /institution /successful placement /obtention of job/change of job etc.
For further information, you may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.