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Education Loan for Abroad Studies

Up to 100% finance
Up to 100% finance
Cover tuition fees, living expenses, and more.
Repayment tenure up to 15 years*
Repayment tenure up to 15 years*
Manage your loan with ease with longer repayment periods.
Digital process
Digital process
Cover tuition fees, living expenses, and more.
0% TCS
0% TCS
0% TCS on overseas remittances
Apply for an Education Loan

Calculate Education Loan EMI

Enter your student loan details below to know your estimated monthly EMI and plan your payments easily.

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1 Lakh1 Crores
Months
60180
%
715

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*These are tentative calculations, Click here to read more details on this calculator

*View details of section 80E of Income Tax Act, 1961

When is the Right Time to Apply for a Loan for Overseas Education?

International students normally begin their study abroad journey between June and September. To ensure a hassle-free process, here’s a timeline to help you plan your education loan application effectively:

  • July 2025 Begin preparation for language proficiency/standardized tests.
  • Aug-Sept 2025 Organise documents: academics, finances, recommendations, etc.
  • Oct-Nov 2025 Apply to universities, prepare for admission interviews.
  • Dec-Jan 2025 Start your education loan process with Credila
  • Feb- Apr 2026 Get your admission letter, secure your loan approval.
  • May- Jun 2026 Finalise disbursement and complete student visa formalities
  • Jun- Sept 2026 Begin your study abroad journey confidently with Credila.

Disclaimer: The above timeline is for general guidance only. Actual loan processing and disbursement timelines may vary based on individual profiles, university requirements, and visa procedures.

Interest Rates for a Study Abroad Loan

Access affordable financing with zero penalty on prepayment.

FeatureDetails
Interest Rate (Floating)9.95%* p.a. onwards
Origination Fee1.25%* + GST
Prepayment & Foreclosure ChargesNone

*Terms and conditions apply. The above table is only an indicative and not exhaustive list. The education loan facility provided by Credila Financial Services Limited will be at the sole discretion of the Company and within the Company's prescribed credit and underwriting norms/guidelines prevailing at the time of processing and disbursing the education loan. The Company maintains the right to change the interest rate at any time and at its sole discretion, without prior notice.

Eligibility Criteria for an Education Loan for Abroad Studies

Access affordable financing with zero penalty on prepayment.

CriteriaDetails
Who Can ApplyStudents pursuing higher education in India or abroad can apply.
OAcademic QualificationsUndergraduate or Graduate programs
Eligible CoursesAll courses
Eligible InstitutionsAll universities, colleges, and vocational institutes

Documents Required for Student Loan to Study Abroad

Paperless Documents

Documents required for an education loan application vary based on the borrower’s profile and the type of education loan the borrower applies for.

Here are the basic general documents required:

ParticularsPhoto IDResidence ProofSignature Verification
PAN Card CheckCircleCheckCircle
Valid Passport CheckCircleCheckCircleCheckCircle
Voter Identity Card CheckCircleCheckCircle
Driving License CheckCircle
Aadhaar Card InfoCheckCircle
ID Card InfoCheckCircle
Bank Statement / Passbook InfoCheckCircle
Telephone Bill InfoCheckCircle
Utility Bill InfoCheckCircle

    • Marksheet or Certificate for Grade 12 or equivalent.
    • Marksheet or Certificate for the last semester/year/degree (e.g. B.E., B.Com., B.Sc. etc.).
    • Scholarship Documents (if applicable).

    • You must submit the college/university admission/acceptance letter when received.

    • Submit the fee structure from the college or university, mentioning the course fee and the estimated living expenses.

  • Salaried
    • Latest 3 Salary Slips or Salary Certificate on employer’s letterhead.
    • Latest one year’s Form 16 from the employer along with one year’s Income Tax Returns.
    • Any other income proof not reflected in the above documents (e.g., Rent Agreement etc.).
  • Self-Employed Professional
    • Latest two years’ Income Tax Returns with I.T. acknowledgement.
    • Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.
    • 3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh.
    Additional Documents
    In addition to the above, the following documents are to be submitted
    • Proof of Establishment of the Firm (Shop Act, TIN No, Service Tax registration copy, SSI Certificate etc.).
    • Copy of qualification or degree certificate.
  • Self-Employed Non-Professional
    • Latest two years’ Income Tax Returns with I.T. acknowledgement.
    • Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.
    • 3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh .
    Additional Documents
    In addition to the above, the following documents are to be submitted
    • For Proprietors: Proof of Establishment of the Firm (Shop Act, TIN No, Service Tax Registration Copy, SSI Certificate etc.)
    • Partnership: Copy of Partnership deed.
    • Private Company: Articles of Association (AoA), Memorandum of Association (MoA) and Shareholding Pattern Certified by the C.A.

  • Salaried
    • Latest six months Bank Statements are required where your salary is credited every month.
  • Self-Employed Professional / Proprietorship/ Partnership / Private Limited Company
    • Latest 8-month Current Account Bank Statement of the Bank Account where business receipts are credited every month.
    • Latest eight months Saving Account Bank Statements.

    • Any document to establish the relationship between the student and co-applicant, e.g, Ration card, Marriage Certificate, Birth Certificate, School Leaving Certificate, etc
    • Account Statement for loans or credit cards that had delays in payment (as proof of clarification).
    • For students with past work experience, the last drawn salary slip.
    • Proof of balance funds.
  • Notes
    • The audit report, duly signed and verified by the Chartered Accountant, must be given in such form, setting forth such particulars as prescribed by the Board. Rule 6G of the I.T. Act provides that such audit reports and particulars should be given in Forms No. 3CA/3CB as applicable, and the statement of particulars should be given in Form No. 3CD.
    • For Salaried/SEP/SENP Co-applicant: Saving Bank statement should be up to 15 days before the login date.
    • For Self Employed Professional/Non-Processional Co-applicant: Current/O.D. bank statement should be up to 30 days before the login date.
    • Copy of PAN Card or Passport is compulsory for all Income Earning/Retired Co-applicants.
Download Checklist
For a more detailed list, kindly reach out to us by email at loan@credila.com, and
we will be happy to assist you further
Documents Required for Education Loan
Ready. Set. Apply.

We recommend that students secure their education financing as early as possible. Doing so not only helps avoid cramming and surprises at the last minute but also helps you focus on your college applications.

Your Application Journey
Application Journey for Education Loan in India

How to Apply for an Education Loan for Studies Abroad

Follow this 3-step process

  • How to Apply for Education Loan Step 1
    1
    • Apply Online

    Fill out the application form and upload documents.

  • How to Apply for Education Loan Step 2
    2
    • Application Review

    Get your sanction letter after our credit appraisal.

  • How to Apply for Education Loan Step 3
    3
    • Funds Disbursed

    You are all set to get started.

Apply now
Click on "Apply Now" to start your education loan process today!

Why Avail a Credila Student Loan to Study Abroad?

  • Save time. Go online.

    Save time. Go online.

    Customer-centric processes with just 3 steps to disbursement.

  • We cover it all

    We cover it all

    Up to 100% financing of tuition and living expenses.

  • Start early. Apply before admission.

    Start early. Apply before admission.

    Benefit from seamless loan sanctions.

  • Friendly rates. All the way.

    Friendly rates. All the way.

    Student loans with customised interest rates.

  • Dream big. Achieve bigger.

    Dream big. Achieve bigger.

    Exploring funding for larger education costs? Not a problem.

  • Pan-India network of branches

    Pan-India network of branches

    Enjoy multi-city co-borrower(s) and collateral flexibility.

  • The benefit of tax saving

    The benefit of tax saving

    Added tax deductions* that bring down your cost of financing

  • Flexible payment plans

    Flexible payment plans

    Repayment tenure of up to 15 years.

  • No hidden charges

    No hidden charges

    What you see is what you pay.

*This is subject to restrictions imposed under the Income Tax Act, 1961 and Budget 2025.

#Under the old tax regime. Please consult your Chartered Accountant or Tax Advisor for information specific to you.

Disclaimer: *T&C apply. The education loan facility provided by Credila Financial Services Limited ('The Company/Credila') will be at the sole discretion of the Company and within the Company's prescribed credit and underwriting norms/ guidelines prevailing at the time of processing and disbursing the education loan. Credila maintains the right to change the interest rate at any time and at its sole discretion, without prior notice.

No claims, guarantees, representations, or warranties, whether express or implied, are made by Credila with respect to any communication, reliability, merchantability, quality, fitness, durability, performance and usefulness of any of the products/service and/ or information mentioned therein. Furthermore, Credila accepts no liability whatsoever for the safety, reliability, durability and performance of any of the products/ service and/ or information mentioned therein. For detailed terms and conditions you can visit Credila's official website - www.credila.com.

FAQs on Study Loans for Abroad

A study abroad loan is financial assistance that covers tuition, living expenses, and other costs for students pursuing higher education overseas

Students who need financial support to cover tuition fees, living expenses, and travel costs often consider a student loan to study abroad.

Yes, Credila offers education loans for studying abroad, covering tuition fees, accommodation, and other related expenses.

Yes, Credila provides up to 100% financing for education abroad, covering tuition, accommodation, and living expenses.

Yes, unsecured education loans are available, but the loan amount and eligibility depend on the applicant's academic and financial profile.

Loans are available for undergraduate, postgraduate, and professional courses in all foreign universities.

Yes, under Section 80E of the Income Tax Act*, borrowers can claim tax benefits on the interest paid.

While the name may have changed to Credila Financial Services Limited from HDFC Credila Financial Services Limited, the company continues to offer education loans to students just as it did under its former name.

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Our Students' Success Stories

"In my experience with Credila, I found their service to be nothing short of exceptional. They not only provided me with the financial support I needed for my education but also offered invaluable guidance throughout the process. Their quick and efficient loan disbursement process ensured that I could focus on my studies without financial worries, and their priority-based approach to issue resolution demonstrated their commitment to customer satisfaction. I was highly impressed with their service and couldn't be more satisfied with the entire experience. I wholeheartedly recommend Credila to anyone in need of an education loan.

I must also commend the relationship managers, who were an integral part of my positive experience. Their dedication is a testament to Credila's commitment to excellence in customer service. Their support played a crucial role in making my educational journey smooth and successful, and I'm immensely grateful for their exceptional service."
Ameya Shahu

Ameya Shahu

Arizona State University

Arizona

"My relationship manager was of great help starting from document preparation to loan processing. They went out of the way to answer all my queries. I highly recommend Credila for higher studies from abroad for their no-nonsense approach and dedicated consumer support."
Abhinav Kshitij

Abhinav Kshitij

University of Oxford

"All the services provided by the team at Credila were sufficiently good. The assigned team provided all the necessary help throughout the process of loan approval and disbursement. The paperwork provided is to the point. The entire online process was completed smoothly without any technical challenges. "
Nupur Neelanjan Moti

Nupur Neelanjan Moti

Algonquin College, Canada

Canada

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