Education Loan Process for Masters to Study Abroad

Non-Banking Financial Banking Corporations (Non-Banking Financial Banking Corporations) or Indian Nationalized Banks (both private and government-owned) (NBFCs). Close communication with visa offices, foreign admission offices, and financial agencies is essential during the application process. To get you started, here's a step-by-step guide.

Education Loan Process

1. Choose a banking company that will provide you with an education loan for studies in a foreign nation.

2. You can apply for an Education Loan by submitting initial KYC paperwork, collateral documents, and academic records.

3. The university will send you an electronic Confirmation of Enrolment (eCoE).

4. Obtain confirmation of your application from the Indian Embassy.

5. Send your documents to the bank, along with a signed agreement and a Loan Sanction Letter.

6. Submit the Loan Sanction Letter to the Embassy and follow the rest of the steps to get your student visa.

7. To confirm your intake session details and fee payment plan, submit the student Visa confirmation to the university. Give the bank this information to start loan disbursement.

8. For Indian Government Education, apply to Indian Banking Institutions.

Note: NBFCs and Private International Education Loans to Study abroad are not eligible for any Indian Government Subsidy Scheme.