Book Your Free Counselling Session<\/a><\/div>\n
\nFAQs<\/h2>\nCan Indian students get an education loan to study abroad without collateral?<\/h3>\n
Yes. Loans up to \u20b97.5 lakh need no collateral under the IBA model scheme. Some lenders offer far more for strong admits, such as SBI’s collateral-free loans up to \u20b950 lakh for select premier institutions.<\/p>\n
Which is the best bank for an education loan for abroad studies?<\/h3>\n
There’s no single best bank. Public sector banks suit families with collateral, while NBFCs and international lenders suit students without it. Compare interest rate, processing fee, and collateral rules for your university.<\/p>\n
Is TCS charged on study abroad fees paid through an education loan?<\/h3>\n
No. Remittances funded by an education loan from a recognised financial institution attract nil TCS under Section 394 of the Income-tax Act, 2025.<\/p>\n
Does the Indian government subsidise interest on loans for studying abroad?<\/h3>\n
Only for some students. The Dr Ambedkar scheme covers moratorium interest for eligible OBC and EBC students when it’s accepting applications, while CSIS and PM-Vidyalaxmi cover study in India only.<\/p>\n
How much tax can I save on education loan interest?<\/h3>\n
You can deduct the full interest paid each year, with no upper limit, for up to eight years under Section 129 (formerly Section 80E). It applies only under the old tax regime.<\/p>\n
When should I apply for an education loan to study abroad?<\/h3>\n
Start as soon as you receive an offer. Many lenders issue a pre-admission sanction on a conditional offer, leaving time to secure a visa-compliant sanction letter.<\/p>\n","protected":false},"author":40,"template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"_members_access_role":[],"_members_access_error":""},"study-guide-destinations":[127],"study-guide-categories":[301],"class_list":["post-252679","gsi_study_guides","type-gsi_study_guides","status-publish","hentry","study-guide-destinations-study-in-uk","study-guide-categories-student-finance"],"acf":[],"_links":{"self":[{"href":"https:\/\/gostudyin.com\/india\/wp-json\/wp\/v2\/gsi_study_guides\/252679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gostudyin.com\/india\/wp-json\/wp\/v2\/gsi_study_guides"}],"about":[{"href":"https:\/\/gostudyin.com\/india\/wp-json\/wp\/v2\/types\/gsi_study_guides"}],"author":[{"embeddable":true,"href":"https:\/\/gostudyin.com\/india\/wp-json\/wp\/v2\/users\/40"}],"wp:attachment":[{"href":"https:\/\/gostudyin.com\/india\/wp-json\/wp\/v2\/media?parent=252679"}],"wp:term":[{"taxonomy":"study-guide-destinations","embeddable":true,"href":"https:\/\/gostudyin.com\/india\/wp-json\/wp\/v2\/study-guide-destinations?post=252679"},{"taxonomy":"study-guide-categories","embeddable":true,"href":"https:\/\/gostudyin.com\/india\/wp-json\/wp\/v2\/study-guide-categories?post=252679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}