Abroad Education Loan in Visakhapatnam: Complete 2025 Guide

Pursuing a master’s abroad can cost ₹40–45 lakhs, and the demand for funding is rising fast. Over 1.3 lakh students from Andhra Pradesh are currently studying overseas, highlighting the strong need for education loans in cities like Visakhapatnam. An abroad education loan here offers high limits, competitive rates, and flexible repayment options.

This guide covers everything you need: top banks and NBFCs, interest rates, eligibility, required documents, and how Propelld can help you secure the right loan with less hassle.

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Top Banks Offering Education Loans in Visakhapatnam

Several national banks have dedicated desks in Visakhapatnam to serve students heading abroad.
Typical features:

• Loan size: Up to ₹2 crore for secured loans.
• Interest range: 8.5 %–13 % depending on collateral, course, and applicant profile.
• Repayment: Course period + 6–12 months moratorium.
  
  

Union Bank and Bank of Baroda are additional options with competitive rates and government interest-subsidy eligibility.

Want to compare the top lenders and loan features before applying? Our guide to 5 Best Education Loans in India: Complete 2025 Guide breaks down options for banks and NBFCs.

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Get an Education Loan with Higher Chances of Approval.

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NBFC Education Loans in Visakhapatnam

Specialist NBFCs such as Avanse, Auxilo, Prodigy Finance, and MPOWER Financing provide fast, collateral-light funding for overseas study.

Avanse

• Typical Limit: ₹1.25 crore
• Interest Rate: ~9.99% floating
• Collateral: Optional (unsecured options available)
• Features: 100% cost coverage, digital application, no forex markup for USD repayment, up to 15-year tenure, doorstep documentation

Auxilo

• Typical Limit: Up to ₹1 crore secured, ₹65 lakh unsecured
• Interest Rate: 10.5–12.75%
• Processing Time: Fast (5–12 days)
• Features: Online document upload, gap certificate required for study breaks, pre-visa disbursement, and property/financial verification streamlined

Prodigy Finance / MPOWER Financing

• Limit: Up to $100,000 (Prodigy, MPOWER)
• Interest Rate: 10–13% APR (in USD)
• Collateral: Not required; cosigner-free
• Features: Fast digital approval (3–5 days), eligibility based on university/program, repayment starts after study plus 6–12 months, auto-pay discount available

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Minimal Docs, Maximum Approval - Apply Now.

State Bank of India Education Loan Visakhapatnam

SBI is trusted by many for competitive rates and large loan amounts up to ₹3 crore for premier institutions.

• Loan Amount: Up to ₹3 crore (with collateral), up to ₹50 lakh collateral-free for select institutes
• Interest Rate: ~9.15% repo-linked (plus 0.5% concession for female applicants)
• Tenure: Up to 15 years; repayment starts after course + 6 months
• Collateral: Accepts property, gold, FDs, government bonds
• Notable Features: Pre-visa sanction, direct disbursement to institution, fee reimbursement possible

Need information on collateral-free education loans in Visakhapatnam? Check out Education Loan Without Collateral: Eligibility & Rates 2025.

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ICICI Education Loan Visakhapatnam

ICICI offers seamless digital processing and high-value loans for both secured and unsecured applications.

• Loan Amount: Up to ₹2 crore secured; ₹1 crore unsecured
• Interest Rate: Starts at 10.25% p.a.
• Tenure: Flexible terms, up to 15 years
• Processing Fee: ~0.75–1% of sanctioned amount
• Collateral: Optional, including property, FDs, securities
• Notable Features: Pre-visa disbursement, full online application via Campus Power, wide institutional reach

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Axis Bank Education Loan Visakhapatnam

Axis Bank stands out for up to 100% study cost coverage and concessions for select premier universities.

• Loan Amount: Up to ₹1 crore unsecured (more with collateral)
• Interest Rate: ~9.5–12.5% p.a.
• Tenure: Customized; up to 15 years possible
• Processing Fee: Up to 2% of sanctioned amount
• Collateral: Optional; can enhance eligibility or loan amount
• Notable Features: Personalized support, flexible terms, branch presence in Visakhapatnam

Curious about required documents and how to increase your chances of approval? Our article on Education Loan Eligibility, Interest Rates and How to Apply details everything you need.

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HDFC Credila Education Loan Visakhapatnam

HDFC Credila provides flexible repayment, including interest-only payments during study, and quick digital processing.

• Loan Amount: Generally ₹75–80 lakh (higher for top-ranked universities)
• Interest Rate: Starts at 9.95% p.a.
• Tenure: Up to 15 years
• Processing Fee: Around 1.25%
• Collateral: Property or financial assets can be used
• Notable Features: No foreclosure charges in most cases, moratorium available, Section 80E tax benefit

IDFC First Bank Education Loan Visakhapatnam

IDFC First is preferred for the fastest digital loan sanction, often within 48 hours, reducing student wait time.

• Loan Amount: Up to ₹1.5 crore; collateral-free up to ₹75 lakh
• Interest Rate: Competitive, varies by profile
• Tenure: Up to 15 years
• Processing Fee: About 1.5%
• Collateral: Optional
• Notable Features: Moratorium grace period after study, digital documentation

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InCred Education Loan Visakhapatnam

InCred specializes in speedy, collateral-free loans with academic merit and digital eligibility as focus points.

• Loan Amount: Up to ₹2 crore secured; up to ₹1 crore collateral-free (select profiles)
• Interest Rate: 11.5–11.75% p.a. (floating)
• Tenure: Up to 15 years
• Processing Fee: Up to 2% of the sanctioned amount
• Collateral: Not needed for strong academic profiles
• Notable Features: Pre-visa, pre-admission disbursement, 100% coverage, all-online application

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Documents Required for Study Abroad Loans in Visakhapatnam

Here’s a clear checklist of documents you’ll need so your loan application process is faster and smoother.

For Unsecured Loans

• Admission letter and full fee structure.
• Academic records: Class 10/12, degree certificates, entrance test scores (GRE/GMAT/IELTS/TOEFL).
• ID & address proof: Aadhaar, PAN, passport, voter ID, utility bills.
• Income proof of co-applicant: salary slips, last 6 months’ bank statements, last 2 years’ ITR/Form 16.
• Recent passport photos, a duly filled loan form, and gap certificate if applicable.

For Secured Loans

• Property title deed, encumbrance certificate, and latest tax/utility bills.
• Property valuation report by an approved valuer.
• Possession/Allotment certificate if applicable (Visakhapatnam Metropolitan Region Development Authority accepted).
  
  

Other Key Features of Abroad Education Loan in Visakhapatnam

Understand the benefits and terms that come with these loans so you can plan finances confidently before studying abroad.

• Expenses Covered: Tuition, living costs, travel, laptop, and exam fees.
• Moratorium: Repayment holiday up to 6–12 months after course completion.
• Loan Margin: Typically 5% for abroad loans (borrower’s contribution).

Wondering about the types and eligibility for student loans? Read Types of Education Loan in 2025: Interest Rates & Benefits for a clear overview.

Learning about education loans in Visakhapatnam can be challenging. Each bank and NBFC has different limits, collateral rules, and paperwork. 

For students who need collateral-free financing or face hurdles with traditional credit checks, Propelld offers a smarter alternative. As a digital education-financing platform, Propelld partners with leading lenders but uses alternative credit assessment. Our fully online process connects you to lending partners quickly.

If you’re ready to study abroad without the stress of collateral or lengthy approvals, apply with Propelld today and move one step closer to your international education goals.