💰 Finance Your Medical Education

Education Loans for
MBBS Abroad

Compare top banks, interest rates, and get loans up to ₹1.5 crore for your medical education abroad

💳
Up to ₹1.5 Cr
Maximum Loan
📉
8.5% - 14%
Interest Rates
🎯
₹40 Lakhs
Without Collateral
⏱️
15 Years
Repayment Tenure

Compare Education Loan Options

🏦

State Bank of India (SBI)

Max Loan
₹1.5 Crore
Interest Rate
8.50% - 10.50%
Collateral Free Limit
Up to ₹7.5 lakhs
Processing Fee:
₹10,000 + GST
Tenure:
15 years
Key Features:
  • Lowest interest rates
  • Government bank trust
  • Quick processing
  • Pan-India presence
Moratorium Period: Course duration + 1 year
🏦

HDFC Bank

Max Loan
₹40 Lakhs (without collateral)
Interest Rate
9.50% - 11.50%
Collateral Free Limit
Up to ₹40 lakhs
Processing Fee:
1% of loan amount
Tenure:
15 years
Key Features:
  • High collateral-free limit
  • Fast approval
  • Digital process
  • NMC-approved universities
Moratorium Period: Course duration + 6 months
🏦

ICICI Bank

Max Loan
₹1 Crore
Interest Rate
10.00% - 11.75%
Collateral Free Limit
Up to ₹40 lakhs
Processing Fee:
₹15,000 + GST
Tenure:
15 years
Key Features:
  • Quick disbursal
  • Online tracking
  • Flexible repayment
  • Pre-approved for NMC universities
Moratorium Period: Course duration + 1 year
🏦

Axis Bank

Max Loan
₹75 Lakhs
Interest Rate
9.75% - 12.00%
Collateral Free Limit
Up to ₹40 lakhs
Processing Fee:
₹10,000 + GST
Tenure:
15 years
Key Features:
  • Competitive rates
  • Simple documentation
  • Fast processing
  • Dedicated education loan team
Moratorium Period: Course duration + 6 months
🏦

Punjab National Bank (PNB)

Max Loan
₹1.5 Crore
Interest Rate
8.75% - 10.75%
Collateral Free Limit
Up to ₹7.5 lakhs
Processing Fee:
Nil
Tenure:
15 years
Key Features:
  • No processing fee
  • Government bank
  • Wide network
  • Subsidized interest for eligible
Moratorium Period: Course duration + 1 year
💼

Avanse Financial Services

Max Loan
₹50 Lakhs
Interest Rate
11.50% - 14.00%
Collateral Free Limit
Up to ₹50 lakhs
Processing Fee:
1.5% of loan amount
Tenure:
15 years
Key Features:
  • Specializes in education loans
  • Higher collateral-free limit
  • 100% finance
  • Fast approval
Moratorium Period: Course duration + 6 months
💼

HDFC Credila

Max Loan
₹40 Lakhs
Interest Rate
10.50% - 13.50%
Collateral Free Limit
Up to ₹40 lakhs
Processing Fee:
1% of loan amount
Tenure:
15 years
Key Features:
  • Education loan specialist
  • Flexible repayment
  • 100% tuition coverage
  • Parent co-applicant allowed
Moratorium Period: Course duration + 12 months

Education Loan Application Process

1

Check Eligibility

Student must be Indian citizen, admitted to NMC-approved university, co-applicant (parent/guardian) with stable income required

2
🏦

Choose Bank & Loan Amount

Compare banks based on interest rates, processing fees, collateral requirements, and loan amount needed for your course

3
📄

Prepare Documents

Admission letter, fee structure, academic records (10th, 12th, NEET), income proof of co-applicant, collateral documents (if applicable), identity & address proof

4
📝

Submit Application

Fill online/offline application form, submit all documents, bank will verify and process within 7-15 working days

5

Loan Approval & Sanction

Bank evaluates application, verifies documents and collateral, issues sanction letter with approved amount and terms

6
💰

Loan Disbursal

Loan amount disbursed directly to university account as per fee schedule, typically in installments year-wise

Government Education Loan Schemes

🎓

Vidya Lakshmi Portal

Government of India's portal connecting students with banks for education loans. Single platform to apply to multiple banks, compare schemes, and track application status.

  • Apply to multiple banks with single application
  • Compare interest rates and terms
  • Track application status online
  • 45+ banks registered on the portal
Visit Vidya Lakshmi Portal →
💸

Central Sector Interest Subsidy Scheme

Interest subsidy for students from economically weaker sections (annual family income up to ₹4.5 lakhs) during moratorium period.

  • Eligibility: Family income up to ₹4.5 lakhs/year
  • Benefit: Government pays interest during course + 1 year
  • For studies in India and abroad (NMC-approved)
  • Apply through bank after loan sanction

Tips for Getting Education Loan Approval

Choose NMC-approved universities only
Banks prefer lending to students admitted to NMC-approved universities as degree recognition is guaranteed
Maintain good credit score
Co-applicant should have CIBIL score of 750+ for faster approval and better interest rates
Apply early (3-4 months before travel)
Loan processing takes 30-45 days. Apply immediately after admission confirmation
Prepare complete documentation
Incomplete documents delay processing. Get all papers ready before applying
Show strong co-applicant income
Higher co-applicant income improves loan eligibility and approval chances
Consider collateral for higher amounts
For loans above ₹40 lakhs, collateral (property/FD) gets better rates
Compare multiple banks
Interest rates vary by 1-3%. Even 1% difference saves lakhs over 15 years
Negotiate processing fees
Many banks waive/reduce processing fees for NMC-approved universities

Need Help with Education Loan?

Our experts will guide you through the loan process, help with documentation, and connect you with the best banks for your needs

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