Indian Bank Abroad Education Loan

    Updated on: 20 Sep 2023 6 min read

     


    Did you know that in the last 10 years, the number of students taking abroad education loans from public sector banks has increased three times and similarly the loan amount being sanctioned has also increased six times. One of the major players in this overall increase is the Indian Bank and its abroad education loan offering. For the FY 2021-22, the Indian Bank disbursed around 284 Cr to students who wanted to study abroad. The average lending amount comes to 11 Lakh per student. In order to provide you with more clarity on Indian Bank’s abroad education loan process and its offering, we have compiled all the information and integrated it into this blog.

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    Frequently asked questions

    Does the Indian Bank give loans to study abroad?

    Yes, the Indian Bank can give you an education loan with and without collateral. You can get up to 7.5 Lakh without collateral whereas with collateral you can get up to 100% of your collateral value. 

    How much interest rate is charged by the Indian Bank for abroad education loans?

    The interest rate for the Indian Bank can range between 9.20% - 11.40%. The interest rate that you can get depends on the application profile, targeted university/college, country, and more. 

    How much time does it take to get my loan approved from the Indian Bank?

    You can get your loan approved via Indian Bank in about 15-20 working days once all the documents have been submitted to the bank officials. 

    Is there any interest rate concession when I take an education loan through the Indian Bank?

    Female applicants are eligible for an interest rate concession of 0.50% on the applicable interest rate.



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Written by Rohit Gidwani

Meet Rohit, an expert in the field of study abroad and Ed-tech with many years of professional experience in content creation and creative writing. Being a BBA graduate has helped him to pursue his professional duties strategically and with creativity.


Specializes in:
Loan without collateral

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Reviewed by Aman Jain

Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh students in his 8-year-long journey.


Specializes in:
Education loan , Study Abroad Admissions


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