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Education loans · honest options

Funding it with a loan

If you're borrowing, start early, sanctions take time and collateral. Secured loans cost less; unsecured and no-cosigner options exist but charge more. Compare on total cost, not just the headline rate.

SBI Global Ed-Vantage

Secured (collateral)
Indicative rate: ~9–11%Collateral: Required above ~₹7.5L
PROS
  • ✓Low interest
  • ✓Long tenure
  • ✓Trusted public bank
CONS
  • –Collateral + slower processing
  • –Paperwork heavy
Best for: Lowest cost if you have collateral

HDFC Credila

Secured / Unsecured
Indicative rate: ~10–13%Collateral: Flexible
PROS
  • ✓Fast, study-abroad specialist
  • ✓Covers living + blocked account
CONS
  • –Higher rate than public banks
Best for: Speed + flexibility

Avanse

Secured / Unsecured
Indicative rate: ~11–14%Collateral: Flexible
PROS
  • ✓Quick sanction
  • ✓Funds full cost incl. blocked account
CONS
  • –Higher interest unsecured
Best for: Full-cost financing

Auxilo

Secured / Unsecured
Indicative rate: ~11–14%Collateral: Flexible
PROS
  • ✓Student-focused NBFC
  • ✓Digital process
CONS
  • –Rate depends on profile
Best for: Digital, fast

Prodigy Finance

Unsecured · no cosigner
Indicative rate: ~12%+ (USD-linked)Collateral: None
PROS
  • ✓No collateral or cosigner
  • ✓For select global programs
CONS
  • –Only specific universities
  • –Forex exposure
Best for: No collateral / no cosigner

MPOWER Financing

Unsecured · no cosigner
Indicative rate: ~12%+ (USD)Collateral: None
PROS
  • ✓No cosigner/collateral
  • ✓Supports international students
CONS
  • –Eligible schools only
  • –USD-denominated
Best for: No-cosigner international route

ℹ️ Rates and terms are indicative and change with your profile, confirm directly with the lender. A loan adds pressure to an already hard first year; run the Risk Calculator before you commit.