Education Loan for BDS in India: Eligibility, Banks, Top Colleges and Application Process

The average fee for a BDS degree in India can go from 6 to 9 Lakhs. If you are looking for an education loan for BDS in India or abroad, this is the right blog for you. We have covered the list of top colleges within India and abroad, the application process, and the list of banks giving education loan for BDS. 

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Education Loan for BDS in India 

India offers some of the best medical schools in the world. Hence, its medical programs are more expensive. You can take out an education loan to finish your BDS in India. The key features of an education loan for BDS studies in India are as follows:

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Are you Eligible for an Education Loan for BDS in India? 

Here are the requirements to be eligible for an education loan for a BDS in India: 

1. Need to be a citizen of India
2. Must have earned at least 50% of the possible points in their 12th grade from an accredited board.
3. Must have passed an entrance exam or been admitted based on merit to a college for BDS.

Also Read: BDS Syllabus & Subjects 2024: Year Wise and Semester Wise 

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List of Banks Giving Education Loan for BDS 

Here is a comparison of public and private banks that will provide an education loan for BDS courses in India: 

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*Note: The above interest rates and particulars change with time. Please check with the bank before you make a final call. 

Also Read: Medical & Dental Colleges in Bangalore

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Best Colleges for BDS in India 

1. Manipal College of Dental Sciences, Manipal
2. Nair Dental College, Mumbai
3. Manav Rachna University, Haryana
4. Institute of Medical Sciences BHU, Varanasi
5. Government Dental College And Research Institute, Karnataka
6. Saraswati Dental College, Lucknow
7. Guru Nanak Institute of Dental Sciences & Research
8. Govt. Dental College, Kottayam
9. Inderprastha Dental College & Hospital, Lucknow
10. VSPM’s Dental College & Research Center, Maharashtra, Chhattisgarh
11. RajaRajeswari Dental College & Hospital

Also Read: BDS Course: Full Form, Duration, Fees in Private College

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Education Loan for BDS Abroad 

Pursuing your BDS overseas can advance your career significantly because these nations have cutting-edge technologies that can elevate your skill set. However, compared to studying in India, the costs of studying overseas are very high. Here is an overview:

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‍Minimal Documentation. Higher Chances of Approval. Easy Online Processes. Check Your Eligibility. 

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List of Banks Giving Education Loan for BDS Abroad 

Several public and private banks in India offer education loans for BDS. Here is a table with a comparison of banks giving education loan for BDS: 

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*Note: The above interest rates and particulars change with time. Please check with the bank before you make a final call. 

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Eligibility for Education Loan for BDS Abroad 

There are specific eligibility criteria requirements for an education loan for BDS abroad. They are:

1. Must be an Indian citizen
2. A score of at least 50% in 10+2
3. Attend the entrance exam necessary to enter the nation you are visiting.
4. Language competency exams such as the IELTS or TOEFL.

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Top Colleges for BDS Abroad 

Some colleges are particularly reputed for pursuing a BDS degree from abroad. Here is a list of them:

1. University of Queensland, Australia
2. University of Adelaide, Australia
3. Gulf Medical University, UAE
4. James Cook University, Australia
5. University of Plymouth, UK
6. University of Liverpool, UK
7. Charles Sturt University, Australia
8. University of Sheffield, UK
9. University of Hong Kong, China
10. Karolinska Institutet, Sweden

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Documents Required for Education Loan for BDS 

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Application Process for an Education Loan for  BDS

To apply for an education loan for BDS course, follow these steps: 

1. Go to the preferred bank’s website. 
2. Go to the “Education Loans” category, and select the type of loan you want to opt for. 
3. Fill up all required details needed and submit your application. 

Check out this blog for an in-depth guide on How to Get Education Loan After 12th.

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Propelld aims to ensure every student has access to financial resources to complete their education. The Propelld education loan is easy to apply to and designed especially for students. 

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Here are some more benefits of the Propelld education loan: 

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FAQs on Education Loan for BDS 

What is an education loan for BDS?

 An education loan for BDS is a financial product offered by banks and financial institutions to help students cover the cost of pursuing a Bachelor of Dental Surgery (BDS) degree.

Who is eligible for an education loan for BDS? 

Students who have secured admission to a recognised BDS program in India or abroad are typically eligible. Some banks may require approval from a co-applicant, such as a parent or guardian.

How much loan can I get to pursue BDS?

 The loan amount depends on the bank. Generally, banks offer loans up to ₹10-20 lakhs for studies in India, while for overseas education, the amount can go up to ₹30-40 lakhs or more.

What documents are required to apply for an education loan for BDS? 

Required documents include an admission confirmation letter, academic records, fee structure, identity proof, address proof, income proof of co-applicant, and bank statements.

What are the interest rates on education loans for BDS in India?

 Interest rates for BDS education loans vary by bank, generally ranging from 8% to 12% per annum. It’s advisable to compare rates across banks before applying.

Do I need to provide collateral for an education loan for BDS? 

Collateral requirements vary by bank. Loans above ₹7.5 lakhs often require collateral, while smaller loan amounts may not require any.

Can I apply for an education loan for BDS online? 

Yes, most banks and loan aggregators offer online application services for education loans. You can also visit their websites for pre-approval checks and document submission.

When do I have to start repaying my BDS education loan? 

Repayment typically starts 6-12 months after completing the BDS course or securing a job, whichever comes first. This is called the moratorium period.

Are there any subsidies available for education loans for BDS? 

Yes, certain government schemes like the Central Sector Interest Subsidy Scheme (CSIS) offer subsidies on interest for students from economically weaker sections pursuing professional courses like BDS.

Can I get an education loan for BDS without a cosigner? 

Some banks and financial institutions offer unsecured loans that do not require a co-signer or guarantor, but these may come with higher interest rates.

What are the repayment options for education loans for BDS? 

Repayment options typically range from 5 to 15 years. Banks may offer flexible repayment plans with step-up EMIs, allowing students to start with lower payments.

Can I take an education loan for BDS to study abroad? 

Yes, many banks provide education loans for students pursuing BDS degrees abroad. However, the loan amount, collateral requirements, and interest rates may differ from domestic loans.

What happens if I am unable to repay my BDS education loan? 

If you're unable to repay the loan, banks may allow for loan restructuring or offer a grace period. However, defaulting on a loan can affect your credit score and lead to legal action.

Are there any tax benefits for BDS education loans?

 Yes, under Section 80E of the Income Tax Act, the interest paid on education loans for higher studies, including BDS, is eligible for tax deduction.

Can I prepay my BDS education loan without any penalties? 

Most banks allow for prepayment without any penalties, but it’s important to check the terms and conditions in your loan agreement.

What is the typical processing time for an education loan for BDS? 

The processing time can range from 7 to 15 days, depending on the bank and completeness of the application. Some banks offer faster approvals if all required documents are in order.