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Education Loans for UK

Updated on Nov 15, 2022
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The first step in obtaining a visa to study in the United Kingdom is to provide proof of financial standing. It is advised to begin the loan application procedure as soon as you get the university's conditional offer letter. The bank or private financial institute will need time to fulfill their criteria and compile the necessary papers. However, the loan and loan amount will only be approved if you have received an unconditional offer letter from the institution and have satisfied all of the bank's terms and conditions.

Table of Contents

1 Loans Provided by Government Banks

Bank 

Amount

Period of Loan

Bank Of Baroda

20 lakhs

Course term plus one year or six months after obtaining employment, whichever comes first. If the loan amount exceeds Rs 7.50 lacs, it can be repaid in 180 installments.

Punjab National Bank

Need-based financing is contingent on the parents'/students' ability to repay the loan with a margin.

Maximum up to 15 years

Punjab & Sind Bank

20 lakhs

For all categories, the loan should be repaid in equal monthly installments for a maximum of 15 years.

State Bank of India

1.5 crore

The loan should be repaid one year after completing the course or six months after landing a job. 15 years is the maximum payback duration.

Syndicate Bank

2.00 crore

Course period + 1 year or 6 months after getting a job. The loan interest amount should be paid back either by the candidate or their guardian.

Bank Of India

Rs.20.00 lacs

Course period + 1 year or 6 months after getting a job, and the loan is to be repaid in 15 years after commencement of repayment. 

Central Bank of India

Rs.20.00 lacs

 

Repayment to commence 12 months after completing studies or 6 months after securing a job, whichever is earlier.

Allahabad Bank

Rs.50.00 lacs

Course Period + 1 year or 6 months after getting a job, Loan to be repaid within a maximum period of 15 years after commencement of repayment.

2 Loans Provided by Private Banks

Bank

Amount

Period of Loan

HDFC

20 Lakhs

Repayment of loan starts 1 year after course completion / 6 months after obtaining employment

HSBC

1 crore

Up to 15 years.

ICICI

20 Lakhs 

The period of the course or 6 months after the borrower gets a job and the loan shall be repaid in 5 - 7 years after commencement of repayment

Axis Bank

75 Lakhs 

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