Education Loan

Education Loan for MBBS in Russia

Education Loan for MBBS in Russia

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Discover essential steps and expert advice on securing education loans for MBBS in Russia, covering tuition, living costs, and eligibility criteria.

Rohit Gidwani
Updated on:  29 Feb 2024  | Reviewed By: 
| 280 | 8  min read

In 2022-23, over 750,000 students set their sights on studying medicine abroad, with Russia being a top choice for its high-quality and affordable medical programs. However, the excitement of pursuing an MBBS in Russia is often accompanied by concerns about funding. "How to get education loan for MBBS in Russia?" is a critical question for many aspiring medical professionals. This guide is designed to streamline the process, offering key insights and expert advice to navigate the financial aspects of your medical education in Russia. With the right information and support, you can ensure that financial barriers do not stand in the way of your medical career dreams.


Cost to study MBBS in Russia

Before we answer the question - How to get education loan for MBBS in Russia? It is important to understand the different costs associated with studying MBBS in Russia. It's not just the tuition fees but also pre-departure expenses that need to be considered. This section aims to provide a clear breakdown of the costs involved, from pre-departure preparations to annual tuition fees and living expenses in Russia, helping students plan their finances efficiently. The table below shows the pre-departure cost to study MBBS in Russia.

Expense Category Approximate Cost in INR

Passport Application

1,500 - 2,000

NEET Application Fee

1,500 - 2,500

University Application Fee

5,000 - 10,000

Visa Fee

5,000 - 7,500

Travel Insurance

10,000 - 15,000

Flight Tickets

20,000 - 50,000


10,000 - 20,000


Check Your Education Loan Eligibility

Tuition fees for MBBS in Russia vary significantly based on the university and its location. On average, the annual tuition fee for MBBS programs in Russia ranges from approximately 3 to 8 Lakh INR. For example, top universities like Kazan State Medical University and Moscow State Medical University have annual tuition fees in the range of 4 to 6 Lakh INR, while more affordable options like Orenburg State Medical University might offer fees towards the lower end of this spectrum.

Another crucial aspect of planning your education in Russia is budgeting for the cost of living. The monthly expenses can vary based on the city, lifestyle, and personal preferences. A generalized cost of living in Russia has been shown below:

Expense Type Monthly Cost in INR


15,000 - 30,000


10,000 - 15,000


2,000 - 5,000

Study Materials

3,000 - 5,000


5,000 - 10,000


Types of Education Loan

Choosing the right education loan is a crucial step for students planning to pursue their MBBS studies in Russia. Education loans can be broadly categorized into two types: secured and unsecured. Each type offers different benefits and requirements, catering to the diverse needs of students based on their financial situations.

  • list items Secured education loan - Secured education loans require borrowers to provide collateral, such as real estate, fixed deposits, or other tangible assets, against the loan amount. This type of loan is typically associated with lower interest rates due to the reduced risk for the lender, making it a cost-effective option for borrowers. Additionally, secured loans often come with higher loan limits and more flexible repayment terms, accommodating the comprehensive costs of studying abroad. However, the process of obtaining a secured loan can be lengthier due to the evaluation of collateral.
  • list items Unsecured education loan - Unsecured education loans do not require any collateral, making them a suitable option for students who do not have assets to pledge. These loans are faster to process and disburse, helping students meet their financial needs promptly. However, the absence of collateral means that unsecured loans usually carry higher interest rates and come with lower borrowing limits compared to secured loans. The repayment terms for unsecured loans might also be more stringent, reflecting the lender's increased risk.

Education Loan Providers for MBBS in Russia

Now that we've discussed the types of loans, let's explore the different lending options available for securing an education loan to study MBBS in Russia. It's important to note that obtaining unsecured loans with a full moratorium can be challenging due to the course's duration of about 5 years. In cases where you manage to secure an unsecured education loan, repayment may involve partial simple interest, simple interest, or, in some instances, immediate EMIs. How to get education loan for MBBS in Russia - Below are some lenders that can give you an education loan to study MBBS in Russia. 


Up to 1.5 Cr. 



Up to 1 Cr. 

9.25% - 9.75%


Up to 1 Cr.

9.7% onwards

Bank of India

Up to 1.5 Cr

9.80% to 11.40%


Up to 1 Cr.

9.50% - 11.25%

HDFC Credila

Up to 50 Lakh 

10.50% - 12.25%


Up to 70 Lakh 

10.50% - 13.50%


Expenses Covered by Education Loan

An education loan is designed to comprehensively cover the expenses associated with pursuing higher education, ensuring students can focus on their studies without financial strain. These loans typically cover a wide range of costs beyond just tuition fees. They can include accommodation or hostel fees, examination fees, laboratory and library charges, books and equipment, and sometimes even travel expenses for studying abroad. For students going overseas, additional coverages such as travel insurance, health insurance, and even a contingency allowance for study tours, project work, or thesis writing may also be included. This extensive coverage makes education loans a vital support system for students, allowing them to cover their education costs holistically, from basic tuition fees to ancillary expenses that are crucial for completing their studies.


Loan Eligibility for MBBS in Russia

For students aspiring to enroll in an MBBS program in Russia, the eligibility criteria for obtaining an education loan share similarities with those for other international programs. Successfully navigating the loan application process requires adherence to specific eligibility conditions. These include:

  • list items Receipt of an admission offer from a recognized Russian institution for a full-time MBBS course.
  • list items Applicants must be at least 18 years old to qualify for a loan.
  • list items A strong academic performance history is essential.
  • list items Secured loans, on the other hand, necessitate the provision of collateral.

Calculate your Education Loan EMI


Education Loan Documents for MBBS in Russia

For students seeking an education loan to pursue MBBS in Russia, the documentation requirements are specific to ensure a smooth loan approval process. The necessary documents generally include:

  • list items Acceptance letter from the Russian University for the MBBS program.
  • list items Fully completed loan application form.
  • list items Detailed breakdown of the study expenses.
  • list items Proof of identity.
  • list items Proof of residence.
  • list items PAN card details of the applicant.
  • list items Bank statements from the guarantor, co-borrower, or the student.
  • list items A statement of assets from the guarantor, co-borrower, or the student.
  • list items Proof of income for the guarantor, co-borrower, or the student.

How to Get Education Loan for MBBS in Russia?

Applying for an education loan to study MBBS in Russia is a strategic step that requires careful planning and execution. This financial support can ease the burden of tuition and living expenses, allowing students to focus on their medical studies. Here’s a step-by-step guide to navigate the application process for an education loan:

  1. list items Research and shortlist lenders: Start by researching banks and financial institutions that offer education loans for studying abroad. Compare interest rates, loan amounts, repayment terms, and processing fees.
  2. list items Check eligibility criteria: Each lender has specific eligibility criteria, such as age, nationality, admission to a recognized university, and course of study. Ensure you meet these requirements before applying.
  3. list items Gather necessary documents: Prepare the necessary documentation, including admission letters from the university, passport copies, academic records, proof of income (for the borrower or co-applicant), and any collateral documents (for secured loans).
  4. list items Fill out the application form: Complete the loan application form, which can typically be done online or at a bank branch. Provide accurate and comprehensive information to avoid delays.
  5. list items Submit the application and documents: Submit your loan application along with all required documents to the lender. Ensure all documents are complete and correctly filled out to expedite the approval process.
  6. list items Loan assessment and approval: The lender will assess your loan application, which may include verifying your documents and evaluating the collateral (if applicable). This process can take a few days to several weeks.
  7. list items Loan sanction and agreement: Once your loan is approved, the lender will issue a loan sanction letter outlining the terms and conditions of the loan. Review this document carefully before signing the loan agreement.
  8. list items Disbursement: After the loan agreement is signed, the loan amount will be disbursed as per the terms agreed upon. This could be a lump sum or in installments, directly to the university or to the borrower.

In conclusion, heading off to study MBBS in Russia is a big step towards your dream career in medicine. Remember, figuring out your education loan doesn't have to be tough. If you're looking to make the loan process easy, check your eligibility with GyanDhan. They can help smooth out the bumps, so you can focus on what really matters - your studies.

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Frequently Asked Questions

What are the collateral options for securing an education loan for MBBS in Russia?

For secured loans, options include moveable assets like fixed deposits with HDFC Bank or HL with HDFC Ltd, and immovable collateral such as flats, houses, land (non-agricultural), shops, etc.

Is the duration of MBBS in Russia longer than in India?

Yes, the duration of the MBBS course in Russia is one year more compared to India, making it an essential factor for students planning their education and loan repayment schedules.

Do I need to clear IELTS or TOEFL for MBBS admission in Russia?

IELTS and TOEFL exams are not required for admission to medical universities in Russia. However, students must have a good understanding of English.

What is the total financial requirement for studying MBBS in Russia, including living expenses?

Besides tuition fees, students need to budget for living expenses, which can total up to approximately Rs 34 Lac over 6 years, including food, accommodation outside the university campus, airfare, books, and other miscellaneous expenses.

Can I apply for an education loan without collateral for MBBS in Russia?

While obtaining unsecured loans for MBBS studies in Russia can be challenging due to the course duration, some NBFCs like Avanse offer unsecured loans with short processing times based on the guardian's income and CIBIL score, though at higher interest rates.

Check Your Education Loan Eligibility


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