20+ Lenders
Public & private banks, NBFCs and international lenders.
Best Rate Comparison
We compare offers before you apply.
Visa-Ready Documents
Sanction letters that match your visa file.
Govt. Scheme Help
Gujarat 4% loans and interest-subsidy schemes.
Education Loan for Study Abroad & India
Undergraduate and postgraduate loans — secured, unsecured and government-subsidised
NovasasK helps students from Surat fund their studies in Canada, the UK, USA, Australia, Germany, Europe and India. We compare banks and NBFCs, explain collateral and non-collateral options, help with Gujarat's 4% foreign study loan and central interest-subsidy schemes, and prepare a sanction letter that fits your visa.
₹1.5 Cr
Max. with collateral*
₹75 L
Max. without collateral*
4%
Gujarat govt. scheme*
7–15
Days to sanction*
Education Loan for Every Level
Loan rules change with the level of study and the co-applicant's profile.
Undergraduate (Bachelor's)
For students after 12th. A parent/guardian co-applicant is required and collateral is often needed for higher amounts. Admission to a recognised institution and a solid budget plan matter most.
Postgraduate (Master's / MBA)
Easier to get unsecured loans, especially for STEM and top-ranked universities. Academic scores, test scores (GRE/GMAT) and work experience strengthen the profile.
PhD & Research
Often funded by scholarships; loans can cover the gap for living and travel.
Diploma & Pathway
Loans for diploma, foundation and pathway programs at selected lenders.
What Does an Education Loan Cover?
Most lenders cover the full cost of education as shown by the university, within their limits.
Tuition Fees
College or university fees as per the admission letter.
Living Expenses
Accommodation, food and daily living costs.
Travel
Air tickets to the study destination.
Insurance
Health and travel insurance required by the university or visa.
Laptop & Books
Study equipment, books and supplies.
Deposits & Fees
Caution deposits, exam, lab and library fees.
GIC / Blocked Account
Funds required for Canada GIC or a Germany blocked account (selected lenders).
Visa & Exam Fees
Visa fee, IELTS/GRE fees at some lenders.
Collateral vs Non-Collateral Loans
Choose based on loan amount, interest, speed and the assets your family can offer. Figures are indicative.
| Collateral (Secured) | Non-Collateral (Unsecured) | |
|---|---|---|
| Security | Property, FD, LIC policy or similar | None — based on profile and co-applicant income |
| Typical maximum | Up to ₹1–1.5 crore | About ₹40–75 lakh (higher for top universities) |
| Interest rate | Usually lower | Usually higher |
| Margin money | Often 0–15% | Often 0% |
| Processing time | Longer (property valuation & legal checks) | Faster (7–15 days typical) |
| Best for | Large amounts, undergraduate study, lower EMIs | Master's at well-ranked universities, quick sanction |
| Common lenders | SBI, Bank of Baroda, PNB, Union Bank, HDFC Bank | HDFC Credila, Avanse, Auxilo, InCred, Prodigy Finance, MPOWER |
Government Schemes & 4% Interest Loans
Several government schemes reduce the cost of education loans. Rules, income limits and budgets change every year — we check current eligibility before you apply.
Gujarat Foreign Study Loan (4%)
Gujarat government corporations offer foreign study loans (e.g. Videsh Abhyas Loan) of up to ₹15 lakh at 4% simple interest for eligible students from Gujarat, with category and income conditions.
Dr. Ambedkar Central Sector Scheme
Interest subsidy on overseas education loans for eligible OBC / EBC students during the moratorium period.
PM-Vidyalaxmi (India)
For study at quality Indian institutions: collateral-free loans with credit guarantee and interest subvention for eligible families.
CSIS (India)
Central Sector Interest Subsidy for students from economically weaker families studying in India.
Section 80E Tax Deduction
Deduct the full interest paid on an education loan from taxable income for up to 8 years (old regime).
Vidya Lakshmi Portal
One government portal to apply to multiple banks for an education loan.
Education Loan Process
We handle the paperwork so you can focus on your studies.
Free Loan Counselling
Understand your budget, collateral and co-applicant options.
Compare Lenders
Interest, margin, processing fees and timelines compared.
Document Collection
KYC, academics, admission letter, income and collateral papers.
Application
We apply to the best-fit lenders, including government schemes.
Sanction Letter
Get the sanction letter for your visa file.
Disbursement
Fees paid to the university; living funds as per lender rules.
Documents Required
Typical documents for an education loan. Lenders may ask for more.
Education Loan Frequently Asked Questions
Common questions about education loans.
Funding & Visa Guides & Updates
Loans, scholarships and visa updates.