IndusInd Bank Education Loan

✓ IndusInd Bank Education Loan: Get up to 50 Lacs

✓ Get a Loan at 9% to 14% interest rates

✓Check Eligibility and Apply

 

 

Check your Education Loan Eligibility

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Planning to study abroad but concerned about how to fund your education? IndusInd Bank offers education loans designed to make your international study dreams achievable. With competitive interest rates, minimal paperwork, and flexible repayment options, IndusInd Bank ensures a smooth financial journey from admission to graduation. Whether you’re aiming for top universities in the USA, UK, Canada, or Australia, the bank’s tailored education loan solutions help cover tuition fees, living expenses, travel costs, and more—so you can focus on your academic goals, not financial stress. 

Table of content

Banks

IndusInd Bank Education Loan For Abroad Studies

This education loan program provides a significant amount of funding to students who wish to study at foreign universities. This will include tuition fees and other miscellaneous expenses such as transport and equipment, which makes it all-around in your educational needs. The terms of the loan and the interest rates applied to it are reasonable. Before checking your eligibility for this scheme, you can go ahead and read the below given loan scheme details to get a better idea.

Parameters 

Details

Loan Limit

Up to 50 Lakhs

Expenses covered

  • Expenses related to education, such as examination, library, and lab costs
  • Course cost
  • Traveling costs
  • Health protection (If applicable)
  • A caution fee
  • Expenses for books, instruments, equipment, and uniforms
  • Equipment costs
  • Non-essential/miscellaneous costs
  • Scholarship eligibility will be determined at the time of loan amount computation.

Accepted co-applicant

Parents, Parents-in-law, Spouse, Siblings 

Interest rate

Starting from 10.49% p.a.

Moratorium Period

Course duration + 1 year

Repayment Duration

15 years

Repayment policies

  • The usual recommendation for all categories is a 15-year payback period.
  • The interest amount will be added to the principal loan amount and can be repaid along with EMIs
  • Even while EMI-based payback is typically the most frequently recognized approach, telescoping repayments can be used for some working professions, such as physicians and CAs.

Eligibility Criteria

  • The candidate needs to be an Indian national.
  • Should pass entrance exams or merit-based tests to be admitted to further study in recognized institutions abroad.
  • Should have finished 10 + 2 or a similar course.

Salaried applicants:

    • The applicant's age should range from 21 to 60.
    • Net income should be at least 25,000
    • Must have a minimum of two years of work experience, including one year at the company you are applying to.
    • If renting a home or apartment, you should have lived there for at least a year.

Self-employed applicants:

    • Applicant must be in the age range of 25 to 60 
    • The minimum annual net income must be 4.8 Lakhs 
    • Should have a post-qualification of 4 years 

Collateral requirement 

Immovable collaterals: Home, Flat, Non-agricultural land

Liquid securities: Fixed deposit, LIC policies, Government bonds

Value of collateral (In case of a collateralized loan)

  • A minimum of 1.25 times the requested education loan 
  • In the case of liquid securities, the collateral value should be at least 1.1 times the asked loan amount.

 

Courses eligible for higher education abroad:
- Career advancement, professional and technical courses offered by reputed universities 
- Post-graduation courses such as MCA, MS, and MBA 
- Professional courses conducted by CIMA-London and CPA- USA
- Diploma and degree courses, such as pilot training, shipping, and aeronautics, which have been recognized by regulatory bodies abroad for employment purposes. 

Pro tip: In case the student has already financed their university fee, they can get the money reimbursed by asking their financial officer from WeMakeScholars to speak with banking personnel on the matter.

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Don't let financial barriers stop you from pursuing your education
Education Loan

IndusInd Bank Education Loan Interest Rate

IndusInd Bank typically offers education loans ranging from 9% to 14% per annum for students. 

However, the exact interest rate may vary depending on several factors, including:

  • The course and university (abroad)
  • The amount of the loan
  • The credit profile of the applicant and the co‐applicant
  • Whether collateral or security is provided
  • The repayment tenure
Document

Documents Required For IndusInd Bank Education Loan

Here is an education loan processing checklist for IndusInd Bank, which gives a clear list of documents that are needed for processing the loan. This part of the guide enlists all the necessary documents to be provided by the applicant and the co-applicant to avoid any difficulties in the application process. Hence, by explaining every document required in the loan application process, we wish to help you know how to apply for a loan. Keep reading to understand the details of the process and prepare the required documents to make the process as smooth as possible.

Parameters

Details

Basic documents for Applicant (student) and co-applicant and/or Guarantor

  • The application form provided by a financial officer at WeMakeScholars, fully completed with two photographs and a signature of the applicant.
  • Identity documentation: PAN card and passport
  • Personal Asset and Liability Statement in format, as determined by the branch professional
  • Proof of residency: passport, voter ID card, telephone bill, electricity bill, ration card, bank account statement, and Aadhar are all acceptable. If the applicant's permanent and current addresses are different, two distinct proofs are needed.
  • The most recent six-month bank statement (personal/salary). The co-applicant's credits must be presented, and if the co-applicant is self-employed, one year's worth of company transactions must be documented.

Applicant's academic documents

 

  • Evidence of registration in the course and admission (should evidence the total duration of the course)
  • 10th, 12th, and degree mark sheets and certificates
  • The course's price structure (If available, I-20 for the USA) 
  • University Ranking printout form
  • IELTS, GRE, and GMAT score report.

Financial Co-applicant Income documents 

 

If Salaried

    • ID Card of the employer 
    • Most recent pay slips (for the last 3 months)
    • Last three years' ITR
    • Form 16 of the previous three years.

If Self-employed

    • Balance sheet and income statement over the past three years (only if self-employed businessman)
    • Proof of Business Address
    • Past three years' ITR

 

 

Other Documents

 

  • A payment check for Rs. 11,800 toward the processing charge
  • A letter saying that the co-applicant would be responsible for any remaining costs not covered by the loan.
  • Additional checks for attorney and evaluator fees (If your evaluation and legal process are done by the bank).
  • Affidavit of the property collateral owner (on Rs. 20 or 100 stamp paper). If there are many owners of the property.

Additional docs 

  • Any pending loan statements from the previous year.
  • Receipt for any payments in advance.
  • Proforma invoice for the trip, laptop, or other items if you're requesting a loan for them.
  • If appropriate, a letter stating the lack of the Co-applicant's lack of ITR 
  • A letter outlining the gap. An example is this stamp paper on Rs 100 Stamp paper. 

 

We can provide you with a customized list of documents based on your unique circumstances and requirements. This can save you time and help you avoid any potential delays or issues in the enrollment process. 

For a better understanding, you can watch the video on documents required for an education loan, where our co-founder, Damini Mahajan, provides you with a clear explanation

 

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Fees

IndusInd Bank Education Loan Processing Fee

The education loan processing fee can range from 3% of the sanctioned loan amount.

They charge a pre-payment charge of 4% of the principal outstanding after the repayment of 12 EMIs. 

WeMakeScholars doesn't charge you a processing fee for the services we offer. It is totally cost-free. And that is because we are an organization that was funded and assisted by the Ministry of IT, the government of India, under the Digital India campaign

Get started today and streamline your enrollment process with our customized document list!
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IndusInd Bank Education Loan Insurance

IndusInd bank mandates taking loan insurance. It generally accounted for around 1-2% of the loan amount.

Loan insurance is a financial protection plan provided by the bank that ensures that the financial burden of the loan repayment doesn’t fall on the shoulders of the parents/ co-applicant of the loan in case of an unfortunate situation like disability, or even death of the applicant. 

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IndusInd Bank Loan Margin Calculation

Place of study

Loan Margin

To study abroad

15%

 

For example, if a student has applied for an education loan of 40 lacs, then after considering the 5% loan margin, only 38 lacs can be issued. Because, in this case, 2 lacs will be calculated as the loan margin.

We understand that loan margins can have a significant impact on the cost of borrowing, and we are committed to helping students secure the best possible loan terms and interest rates. 

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How To Apply For An Education Loan In IndusInd Bank?

The application process for an education loan (Offline)

Step 1: Visit your nearest IndusInd Bank operating branch.

Step 2: Fill in the application form 

Step 3: Submit all the required documents for verification 

Step 4: The loan gets sanctioned, and the loan amount gets disbursed.

The application process for an education loan (Online)

Step 1: Finish filling out the  Common Application form for Student Loans.

Step 2: To verify your eligibility, your financial officer will get in touch with you. Give all the necessary details.

Step 3: Based on your eligibility and loan rules, compare all of the lenders available and select your lender bank.

Step 4: In line with the document checklist that your financial officer has provided you, submit your paperwork to the bank or upload it to the protected document portal on WeMakeScholars.

Step 5: When your documents are submitted, they will automatically be logged in. Private banks will let you know of the results of your application for a loan in 6-7 days.The issues the students face when applying for a loan directly

  • Rejection at the initial stages saves
  • Not being aware of various hidden charges 
  • Not knowing how to deal with CIBIL issues 
  • No guidance is provided for complicated cases  
  • No checklist is given for the required documents

Benefits of applying through WeMakeScholars

As WeMakeScholars is an organization funded and supported by the Ministry of IT, Government of India, the services we provide are completely free of cost. 

Negotiation on your behalf: The WMS team can negotiate with the bank on your behalf to reduce their IndusInd bank education loan interest rate (Around 0.5 to 2% less than average!), and we also make sure that you pay a reasonable price for the entire procedure, including the cost of the lawyer, etc.

Best customer service/support: The WeMakeScholars staff offers comprehensive customer assistance from 10 AM to 9 PM for any questions you may have.

The cashback offered: By applying for your study abroad education loan through WeMakeScholars, you are assisting the Digital India campaign and will be rewarded with cashback on multiple disbursements up to a maximum of INR 3000.

Credentials for your loan profile: To check the progress of your loan application, log in using your loan profile credentials.

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EMI Calculator

Education Loan EMI Calculation As Per IndusInd Bank Education Loan Interest Rate

EMI computation on your education loan in IndusInd bank in Bank is mostly based on these variables

  • Total loan amount
  • Compound and simple interest
  • Semester-wide breakdown
  • Rate of interest
  • Moratorium period 

Head on over to the WMS Education Loan EMI Calculator to compute your EMI with absolute precision. The WMS EMI calculator is designed to help you determine the monthly amount you need to pay towards your education loan repayment, based on your loan amount, interest rate, and repayment tenure, with utmost precision and accuracy.

Looking for an affordable education loan? get an automatic 0.5% ROI reduction
Repayment

IndusInd Bank Loan Repayment Process

The moratorium period for IndusInd Bank lasts up to 6 months after the course duration. I.e., course duration plus 6 months.

If the student applies for a loan of 23 Lakhs from IndusInd Bank with an interest rate of around 12% and a repayment tenure of 12 years, their amortization schedule would look something like this.

  • Payable monthly EMI: 36,824
  • Total amount payable: 53,02,704
  • Total interest payable: 30,02,704

At WeMakeScholars, we provide access to post-sanction help to all students. Once your education loan is sanctioned, we understand that there may be several steps involved in disbursing the funds and completing the loan process. That's why we offer post-sanction help to assist you in navigating this process with ease.

Repayment Cycle  EMI Interest portion Principal portion Loan Outstanding
End of 1st year 36824 27021 9804 2692255
End of 2nd year 36824 25777 11047 2566675
End of 3rd year 36824 24376 12448 2425169
End of 4th year 36824 22797 14027 2265717
End of 5th year 36824 21018 15806 2086041
End of 6th year 36824 19014 17810 1883579
End of 7th year 36824 16755 20069 1655439
End of 8th year 36824 14210 22615 1398366
End of 9th year 36824 11342 25483 1108689
End of 10th year 36824 8110 28714 782274
End of 11th year 36824 4468 32356 414461
End of 12th year 36824 365 36460 0
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Take advantage of our post-sanction help to streamline your education loan disbursement process.
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Why And How To Transfer Your Education Loan To IndusInd Bank?

Why transfer your loan?

  • Getting an existing loan transferred can provide you with the benefit of lower interest rates and help you save your money over a longer period of time. 
  • As WeMakeScholars is connected to most of the public banks, private banks, and NBFCs the whole process becomes so much easier and faster.
  • The negotiation for a lower interest rate is done by our team of financial officers on your behalf, making the whole process a walk in the park for you.

How do I transfer my loan?

  • Get proof and details of your pending loan amount 
  • Request a call back from our team of financial officers
  • Tell your financial officer about your wish to get your loan transferred to IndusInd bank
  • Submit the documents asked by your financial officers to the closest functioning branch of IndusInd Bank.
  • Our experts can provide you with valuable guidance on the steps involved in transferring your loan, as well as answer any questions you may have about the process.
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Conclusion

In conclusion, IndusInd Bank’s education loan for abroad studies offers students a reliable way to finance their international education with ease and flexibility. With multiple loan schemes, transparent processing fees, and comprehensive coverage for academic and living expenses, the bank ensures that financial constraints don’t limit your global ambitions.

From straightforward documentation and margin calculations to flexible EMI and repayment options, every aspect of the IndusInd Bank education loan is designed with students’ convenience in mind. Additionally, features like loan insurance and the option to transfer an existing education loan make it an even more attractive choice.

For students aspiring to study in reputed universities abroad, IndusInd Bank provides a balanced mix of affordability, accessibility, and support—helping you focus on your studies while the bank takes care of your financial needs.

FAQs:

  • What does EMI mean?

  • Should I start paying my education loan in IndusInd Bank while studying?

  • What is a CIBIL score?

  • Will taking an education loan affect my CIBIL score?

  • Can a student apply for an education loan without parents in IndusInd Bank?

Our Education Loan team will help you with any questions

Ajay Kumar
WeMakeScholars- supported by IT Ministry, Govt. of India.
Published: | Updated:
Check Your Eligibility