Need funds to study abroad? Students typically require about ₹45 lakh for an international degree, including tuition, living, travel, and other expenses. In Q1 FY2025, Gujarat saw a 28% rise in education loan disbursals fueled by growing demand for foreign education.
In this blog, you’ll read about top education loan providers, secured vs. unsecured loan options, interest rates, required documents, and eligibility criteria, everything you need to secure financing for your education abroad.
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Education Loan for Abroad Studies in Ahmedabad- Top Banks
Below are popular education loan providers in Ahmedabad for overseas education, along with approximate loan amounts and processing fees:
Want to learn the step-by-step process for overseas education loans? Check our detailed guide on How to Get an Education Loan for Abroad Studies in 2024.
Education Loan for Indian Colleges in Ahmedabad
If you’re planning to study in India, below are the banks offering education loans in Ahmedabad with their interest rates:
Public banks usually offer lower interest rates for secured education loans in Ahmedabad, while private lenders and NBFCs provide faster, often unsecured options at slightly higher rates.
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Secured vs Unsecured Education Loans in Ahmedabad
Compare secured and unsecured education loans in Ahmedabad to understand collateral requirements, loan limits, and interest rate differences.
Secured Education Loan in Ahmedabad
Opting for a secured education loan in Ahmedabad can help you access higher loan amounts at lower interest rates. Here are the details:
- Collateral Requirements: Typically require assets such as property, fixed deposits, or government bonds as collateral.
- Loan Amounts: Can range up to ₹1.5–2 crore, depending on the lender and the value of the collateral.
- Interest Rates: Generally lower, ranging from 8.5% to 11% per annum, due to the reduced risk for lenders.
Repayment Tenure: Often extended, with tenures up to 15 years, providing more manageable monthly payments. - Processing Time: May take longer due to the need for property valuation and legal documentation.
- Ideal For: Students with valuable assets to pledge and those seeking higher loan amounts.
Unsecured Education Loan in Ahmedabad
If you don’t have assets to pledge, unsecured education loans in Ahmedabad offer faster approvals and flexible funding. Here are the details:
- Collateral Requirements: No collateral needed; approval is based on the applicant's creditworthiness and the co-applicant's financial stability.
- Loan Amounts: Typically up to ₹40–75 lakh, varying by lender and applicant profile.
- Interest Rates: Higher, ranging from 10% to 16% per annum, reflecting the increased risk for lenders.
- Repayment Tenure: Usually shorter than secured loans, often up to 10–12 years.
- Processing Time: Faster approval process due to minimal documentation and no need for property verification.
- Ideal For: Students without assets to pledge or those needing quicker loan processing.
Looking for collateral-free options for your studies abroad? Read about Education Loan Without Collateral for Abroad: Lenders & ROI.
Get an Education Loan with Higher Chances of Approval.
Documents Required for Education Loan in Ahmedabad
Having the right documents ready can speed up approval, improve your loan terms, and prevent last-minute delays. Below are the documents you’ll need.
Student Documents
- Passport, PAN, Aadhaar (identity proof)
- Proof of residence (utility bills, property tax receipt)
- Admission/offer letter from a foreign university
- Academic transcripts (10th, 12th, degree certificates)
- Standardised test scores (GRE, GMAT, IELTS, TOEFL)
- Gap certificate if there are breaks in education
Co-applicant Documents
- Recent payslips, last 6 months’ bank statements
- Form 16 or ITRs (2 years) for salaried
- For self-employed: last 3 years’ ITR, profit & loss account, balance sheet, and business address proof
Collateral Documents (for secured loans)
- Property title deed or registered sale agreement
- Past 30-year sale/ownership chain or Encumbrance Certificate
- Latest property tax and electricity bills
- Approved building plan or plot layout
Curious about the benefits and tax advantages of education loans? Explore Education Loan Benefits in India and Abroad 2025.
Education Loan Interest Rates in Ahmedabad
Interest rates for education loans in Ahmedabad vary based on the lender and the type of course (domestic or international). Here's a snapshot of current rates:
Need help deciding which education loan best fits your needs? Our comprehensive guide on Best Education Loans in India & Interest Rates 2025 has you covered.
What Reddit Users Say About Funding for Abroad Studies
Reddit User in r/ahmedabad shared:
“Educational Scholarships for UG Abroad
I am looking for community-based financial assistance to help fund my education. While my family is financially stable, we are exploring potential funding options from community organisations, trusts, or business networks that support students studying abroad, especially as my parents are reaching retirement age.
I belong to the Gujarati/Patel community and would appreciate any leads on Patidar Samaj groups, local business associations, or community trusts in Ahmedabad/Vadodara/Chennai that offer financial aid for students. If anyone has suggestions or knows of any networks that I can reach out to, please let me know. Your help would be greatly appreciated! Thanks in advance!”
Insight:
Many students rely on scholarships and community-based support, but navigating these networks can be time-consuming and inconsistent. For students whose parents are approaching retirement or prefer not to take large loans, a collateral-free education loan can bridge the funding gap efficiently.
What Do We Infer?
- Community or trust-based funding is often limited, selective, and slow.
- Collateral-free education loans are a practical alternative, especially for students studying abroad with partial family support.
- Platforms like Propelld streamline the loan process, providing access to both secured and unsecured loans, helping students secure funds quickly without relying solely on community networks.
Tip:
If you’re seeking funding beyond what community groups can offer, consider checking Propelld’s offerings for collateral-free options. They simplify applications, compare lenders, and can significantly reduce approval time, ensuring you can focus on your admission and travel plans.
How to Apply for an Abroad Education Loan in Ahmedabad
Follow the straightforward steps below to apply for an abroad education loan in Ahmedabad:
1. Research Lenders
Compare banks and NBFC education loans in Ahmedabad for loan amount, interest rate, and collateral needs.
2. Check Eligibility
Most lenders require Indian citizenship, confirmed university admission, and a co-applicant with a good credit profile.
3. Prepare Documents
Gather ID proofs, admission letter, financial papers, and collateral documents if needed.
4. Submit Application
Apply online or at the branch with all required documents.
5. Loan Sanction & Disbursement
After verification, the sanction letter is issued. Funds are disbursed directly to the university or as per the fee schedule.
Study Loan Eligibility in Ahmedabad
To qualify for an education loan in Ahmedabad, students typically need to meet the following criteria:
- Nationality: Indian citizen.
- Age: Generally between 16 and 35 years.
- Course: Admission to a recognised undergraduate or postgraduate course in India or abroad.
- Academic Record: Good academic performance in previous examinations.
- Co-applicant: A co-applicant (usually a parent or guardian) with a stable income source. Alternatively, you can also look for an education loan without collateral in Ahmedabad. Providers like Propelld have collateral-free options that can improve your approval chances.
- Credit Score: A good credit score (for unsecured loans).
- Income: For unsecured loans, a minimum annual income of ₹4–6 lakh is often required.
Specific eligibility criteria may vary between lenders. It's advisable to check with the respective bank or NBFC for detailed requirements.
Whether you’re pledging collateral for a lower rate or opting for a faster, unsecured option, the key to success is applying early, comparing lenders, and submitting a complete, accurate application.
This is exactly where Propelld can help. As an education finance platform specialising in both secured and collateral-free loans, Propelld partners with leading banks and NBFCs to bring you competitive rates and faster approvals. Apply with Propelld today and ensure faster approvals so you can focus on your admission and visa.
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