Education Loan For MBBS

✓ Avail upto 40 Lacs Unsecured and up to 2 Crores secured 

✓ Education Loan for MBBS Eligibility Criteria

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Table of content

  1. Education Loan For MBBS In India
  2. Education Loan For MBBS In Abroad
  3. Education Loan for MBBS Without Collateral or Unsecured Loan
  4. Documents Required For An Education Loan Without Collateral For MBBS
  5. Secured Or Education Loan With Collateral For MBBS
  6. Documents Required For An Education Loan With Collateral For MBBS
  7. The General Eligibility Criteria For Education Loan For MBBS
  8. Special Education Loan Schemes For MBBS
  9. Cost of MBBS In India
  10. Scholarships To Study MBBS
  11. Issues Faced By Students When Applying Directly For An Education Loan For MBBS
  12. Why Go Through WeMakeScholars For Your MBBS Education Loan
  13. How To Apply For An Education Loan For MBBS
  14. FAQ's
  15. Need Help? Ask Here!

Pursuing medicine in India, whether at the graduate or postgraduate level, can be quite expensive. To help with this, many banks in India offer education loan for medical students with an interest rate of 8.30% per year and a maximum repayment period of 15 years. These loans are a great way to finance higher education in the field of medicine in India, as they often have features such as a moratorium period, low documentation requirements, and a convenient online application process.

Education Loan For MBBS In India

Loan parameter Details
Loan Limit
  • Up to 40 Lacs Unsecured 
  • Up to 2 Crores Secured
Expenses Covered

Academic expenses: 

  • Tuition and Fees payable to the institute
  • Examination/Library /Laboratory fees
  • Purchase of books / Equipment /Uniforms
  • Living expenses (including Hostel fees)

Additional expenses:

  • Travel expenses
  • Purchase of computers/laptops
  • Overseas insurance
  • Cost of health insurance
Accepted Co-applicant

Parents, parents-in-law, spouse, sibling 

Interest Rate 

Collateralized: Starts from 8.55%
Non- Collateralized: Starts from 9.55%

Moratorium Period

Course duration + 12 months 

Repayment Duration

15 years including the moratorium period

Value of Collateral 
  • The minimum value for liquid security should be 1.1 times the requested loan amount.
  • Immovable property should have a minimum value of 1.25 times the requested loan amount.

Education Loan For MBBS In Abroad

Loan Parameter


Loan Limit
  • Up to 75 lacs without collateral  
  • Up to 1.5 crores with collateral 
Expenses Covered

Academic expenses

  • Tuition fee for the course
  • Fee for examinations 
  • Library and laboratory charges
  • Cost of books, uniforms, and equipment 
  • Living expenses (Accommodation fee included) 

Additional costs 

  • Travel expenses
  • Cost of laptop or computer 
  • Overseas Insurance premium
  • Cost of medical insurance premium
Accepted Co-Applicant

Parents, Siblings, Spouse, Parents-in-law 

Interest Rate 

Collateralized: Starts from 8.55%
Non- Collateralized: Starts from 9.55%

Moratorium Period

The total duration of the course plus 1 year 

Repayment Duration

Including the moratorium period of 24 months 

Repayment Policies
  • Interest payment is optional if the university is included in the prime list
  • Simple interest is to be paid if the university is not on the prime list 

Comment - Which country you are planning to pursue your MBBS degree? comment it down.  

Education Loan for MBBS Without Collateral or Unsecured Loan

Loan parameter Details
Loan Limit Up to 45 Lacs  
Expenses Covered Tuition fees, Accommodation charges, Cost of living, Cost of books, uniforms, Laboratory, Library fees 
Interest Rate Starts from 9.55%
Moratorium Period Total duration of the course + 6 months/1 year 
Repayment Duration Upto 15 years including the moratorium 
Repayment Policies Simple or partial simple interest is to be paid during the moratorium period 

Top Banks That Offer Unsecured Education Loans For MBBS 

  • ICICI Bank
  • Axis Bank
  • IDFC Bank
  • Incred
  • Avanse
  • Auxilo 
  • HDFC Credila 
  • EliteScholars

Documents Required For An Education Loan Without Collateral For MBBS

Parameter  Details
Basic Documents

- The education loan form given to you by the WeMakeScholars financial officer, filled in. 

- Proof of identification - PAN Card and Passport 

- Any of the following as proof of residency

  1. Bank account statement 
  2. Passport of the applicant 
  3. Electricity bill
  4. Aadhar Card 
  5. Voter ID 
  6. Telephone bill 
  7. Ration card

Note: If an individual's permanent and current addresses are not identical, then they must provide two different forms of address verification.

- 6-month bank account statement of the co-signer of the salary or personal account.
If the co-borrower is,


  • 1 year of salary credits


  • 1 year of business transactions
  • Personal asset & liability statement 
  • All the documents should be self-attested.
Applicant Academic Documents 1. Cost/ Fee structure of the course 
2. Marksheets and certifications received in 10th, 12th, and degree
3. Proof of enrollment into the institution
4. Print out form of university ranking  
5. IELTS/GMAT/GRE scorecard. 

Financial Co-applicant Income Documents 

If Salaried:
1. ID card of the employer 
2. Form 16 of the previous 2 years 
3. 3-month salary slips 
4. ITR of previous 2 years 
If Self-employed:
1. Business address proof 
2. ITR for the previous 3 years 
3. Profit & Loss account and balance sheet of last 3 years 

Other Documents

A letter confirming that any extra amount (which is not covered by the education loan would be covered by the co-applicant). 

Additional Docs 

  1. When applying for a loan to cover expenses such as travel and a laptop, one must provide an invoice for these expenses.
  2. Any advance transaction receipts must be presented.
  3. Loan statements from the previous year must be submitted if they are still applicable.
  4. A letter, written on Rs. 100 stamp paper, must be provided to explain any gaps in the loan application.
  5. If applicable, a letter explaining the absence of a co-applicant income tax return must be submitted.
Need a more organized document list? Let us create a custom solution for you!

Secured Or Education Loan With Collateral For MBBS

Parameter Details
Loan Limit Upto 2 Crores 
Expenses Covered

Tuition Fees, Accommodation charges, Cost of living, Cost of books, uniforms, Laboratory, Library fee

Interest Rate

Starts at 8.55% 

Moratorium Period

Total duration of the course + 6 months 

Repayment Duration

Up to 15 years 

Repayment Policies

Payment of interest during the moratorium period is not mandatory 

Eligibility Criteria
  • Applicant should be a citizen of India
  • Applicant should be 18 or older
  • Should have received admission through qualifying the required entrance exam 
Value of Collateral (In Case of a Collateralized Loan)

Immovable property - 1.25 times the loan amount 
Liquid security - 1.1 times the loan amount

Top Banks That Offer Secured Education Loans For MBBS

Documents Required For An Education Loan With Collateral For MBBS

In order to avail of a secured student loan you need to have all the applicant and co-applicant documents mentioned above in the documents required for unsecured loans along with the following property documents.

1. Property Title Deed

2. Registered Sale Agreement / Gift Deed / Will

3. The original receipt of registration for the above-mentioned agreement

4. If applicable, a letter of allotment by the Municipal Corporation / Authorized Govt. Authorities like MHADA, CIDCO, HUDA, DDA, JDA, GIDC, etc. 

5. Link documents for 30 years or Past chain of sale deed establishing title or EC is required.

(If you own the property for more than 30 years, then the previous sale deed is enough.)

6. The newest property tax bill and latest electricity bill bearing the same address 

7. A copy of the municipality-approved building plan or plot layout.

Comment - Still having doubt about the documents requirement for your MBBS journey? Raise your query by commenting below.

The General Eligibility Criteria For Education Loan For MBBS

  • The applicant must be 18 years or older 
  • The applicant must be a citizen of India 
  • The applicant must have received admission into the preferred university/ course.
Take advantage of our expertise and check your loan eligibility with us for a b

Special Education Loan Schemes For MBBS

SBI Education Loan For MBBS Students
SBI provides secured education loans to students wanting to pursue higher education in India or abroad of up to 1.5 cr for abroad and at an interest rate of 10.90% depending on the applicant’s profile and the college the student is applying for. They can get education loan for mbbs in private college as well as public colleges. 

Bank Of Baroda Education Loan For MBBS
Bank Of Baroda provides an education loan of up to 1.25 cr at an interest rate of 11.10% with a loan margin of 5% of the total loan amount. 

SBI Education Loan For MBBS Abroad
SBI offers collateralized education loans for individuals seeking higher education abroad, with a maximum loan amount of 1.5 cr, and an interest rate of 10.90% that is based on the applicant's background and the college they are applying to.

Canara Bank Education Loan For MBBS
Canara Bank provides an IBA Model Education Loan Scheme for pursuing higher studies in India & abroad. They provide need-based financing at an interest rate of 10.30%. Women borrowers can avail of a discount of 0.50%

HDFC Education Loan For MBBS
HDFC covers the complete tuition required to complete the course with a 0% loan margin. They provide education loans at an interest rate ranging from 9.5% to 11.5%. They also offer longer tenure in order to reduce the burden of repayment for the students. 

Education Loan For MBBS In China
It is generally not suggested to apply for an MBBS in China as banks generally do not accept countries such as China as a destination for MBBS due to various factors such as quality of education and the reduced ability to secure employment after graduation. Hence, students may need help with applying for an education loan. Applicants can still try going for a secured education loan from a public bank.

Axis Bank Education Loan For MBBS
Axis Bank provides an education loan of up to 50 lacs unsecured and has set no upper limit on secured education loans. They offer education loans at an interest rate starting from 11.5%. The education loan aims to finance the tuition fee, accommodation charges, and cost of books. 

PnB Education Loan For MBBS
Punjab National Bank provides an education loan scheme called PnB Saraswati which aims to provide financing to students pursuing graduation or post-graduation in recognized institutions. They can give a loan amount on the basis of need at an interest rate of 11% with a discount of 0.5% being offered to female students.  

SBI Education Loan For MBBS In Ukraine
The approved list of countries SBI provides education loans for includes the USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand, and Europe. Hence it might be difficult to obtain a student loan for MBBS in Ukraine. However, students can still try for it by going for a secured education loan.

Education loan for MBBS in Nepal

The list of countries accepted by Indian Banks for education loans to pursue MBBS includes the USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand, and Europe. As a result, securing a student loan to pursue an MBBS in Nepal might pose a challenge. Nevertheless, students have the option of attempting to obtain a secured education loan from Indian public banks.

Cost of MBBS In India

Below are some of the top universities which include public and private medical colleges to pursue MBBS in India and their Tuition fees 

University Name Tuition fees
Sri Devaraj Urs Academy of Higher Education and Research Rs. 1450000
Jawaharlal Nehru Medical College Rs. 1524000
K S Hegde Medical Academy Rs. 1435000
Kasturba Medical College Rs. 1310000
Smt B. K. Shah Medical Institute and Research Centre Rs. 1595000
Hamdard Institute of Medical Sciences and Research Rs. 1200000
SRM Medical College Hospital and Research Centre, Chennai Rs. 2250000
M.M. Institute of Medical Sciences and Research Rs. 1500000
JSS Medical College and Hospital Rs. 1471750

Scholarships To Study MBBS

There are several scholarships available for studying MBBS abroad, which are offered by a variety of organizations including governments, universities, and private organizations. These scholarships can help cover the cost of tuition, living expenses, and other associated costs of studying abroad.  These scholarships may be based on academic merit, financial need, or a combination of both. These scholarships may also be awarded on the basis of specific characteristics such as nationality, ethnicity, or area of study.    

Issues Faced By Students When Applying Directly For An Education Loan For MBBS

Lack of knowledge: Students may not have adequate knowledge about the different loan options available to them and may not be aware of the requirements and procedures for applying for a loan.

Credit history: Students may not have a good credit history, which may make it difficult for them to secure a loan from traditional financial institutions.

High-interest rates: Students may find the mbbs education loan interest rateto be high, which can make it difficult for them to repay the loan.

Limited loan amount: Students may not be able to secure the full amount they need to cover the cost of their education, which can make it difficult for them to afford their studies.

Why Go Through WeMakeScholars For Your MBBS Education Loan

Students have always faced difficulty to attain an education loan to fund their MBBS. In India, the competition for medical school spots is extremely high due to the limited number of seats available compared to the number of students who apply. This is because there are a limited number of medical colleges in India and the seats in these colleges are highly sought after. This increases the cost of education and because of this students end up needing to take an education loan to fund their education 

Because of this, it becomes harder to get an education loan to pursue MBBS in India. 

Here at WeMakeScholars, We handle thousands of cases every day which might seem impossible to do. So going through with WeMakeScholars can make the whole process a lot easier for you! 

Here are a few more benefits of going through WeMakeScholars: 

Direct engagement with lenders - You can reach out to the lender directly by obtaining the contact number of the executive handling your case from the lender's team.

Technologically advanced - WeMakeScholars allows you to easily apply for, track, and manage your education loan from the convenience of your own home throughout the entire process.

The cashback offered -  When you apply for your study abroad education loan through WeMakeScholars, you will receive a cashback of up to INR 3000 for multiple disbursements.

Negotiation - The WMS team will strive to secure the best rate of interest for you by negotiating with lenders on your behalf, while also ensuring that you are charged a fair price for the entire process, including legal fees and other expenses.

No service charges -  As we are an organization funded and supported by the Ministry of IT, govt of India, all the services we provide are free of cost. Moreover, the support will be continued until the loan is fully repaid, which means that the students will have the support of the organization throughout the loan repayment period.

Make your education loan disbursement process a breeze with our help.

How To Apply For An Education Loan For MBBS

Step 1: You can start by reaching out to WeMakeScholars by either requesting a callback or by filling out a common application form. 

Step 2: Provide all the required information to your assigned financial officer, who will recommend and connect you with suitable lenders that meet your financial requirements. 

Step 3: After reviewing and comparing the offers from the lenders, you can choose the one that is best for you and inform your financial officer of your selection.

Step 4: Once you have chosen a lender, your financial officer will give you a list of documents that are specific to your profile, you will need to gather and submit all the necessary documents to the bank or lender in a timely manner to facilitate a smooth loan application process. 

Step 5: The lender typically takes around 7 working days to approve and sanction the loan. Once your loan is approved, you will receive a loan sanction letter which will include all the details of the loan such as the loan amount, interest rate, repayment period, and other terms & conditions.

Education Loan FAQs

  • Can we get an education loan for MBBS?

    Yes, you can get an unsecured student loan of up to 1 crore unsecured for abroad education and a secured student loan of up to 2 crores to fund your MBBS. If you are planning to pursue your MBBS in a different country, going for a secured student loan might be the better option for you. To know more about student loan requirements for MBBS request a callback from us.

  • how much education loan can i get for MBBS in India?

    You can get up to a maximum of 2 crores by going for a secured student loan for pursuing your MBBS and you can also get education loan interest rate for MBBS starting from 8.55% by opting for a collateralized student loan. You can learn more about collateralized student loans available in India by filling in the common application form available to you on our website.

  • Best education loans for MBBS?

    It is recommended to go for a secured or collateralized loan for MBBS as most students prefer to pursue their MBBS in foreign countries rather than India because of the limited number of seats available for MBBS in India. In that case, going for a secured student loan increases the chances of your loan getting sanctioned. To know more, you can visit our website or request a callback from our team of financial officers.

  • Education loan for studying MBBS in India?

    It is possible to obtain a student loan for your MBBS studies. There are two types of student loans available: unsecured and secured. An unsecured student loan, which does not require any collateral, can go up to 40 lacs. A secured student loan, which requires collateral, can go up to 2 crores. If you are planning to study MBBS in a foreign country, it might be more beneficial for you to opt for a secured student loan. If you want more information about the requirements for student loans for MBBS, you can contact us and request a callback.

  • Can I get a 50 lakhs education loan for MBBS?

    You have the opportunity to obtain an unsecured student loan of up to 1 crore to fund your bachelor's degree in Medicine, through WeMakeScholars. The education loan for MBBS interest rate starts from 9.55%. This means that you can access a significant amount of funding for your studies without having to provide any collateral. Keep in mind that interest rates and availability of loan amounts may vary from time to time and it is always better to check with the lender for updated information.


IIT Kharagpur, NEP 2020: Expands Offerings with New MBBS Course and Diverse Degree Programs

IIT Kharagpur has announced its plans to introduce an MBBS course in line with National Education Policy (NEP) 2020, along with new dual degree and science programs. The institute will now offer students the opportunity to pursue both B.Tech and M.Tech courses simultaneously, as well as a four-year bachelor's degree in science with the flexibility to choose subjects from both UG and PG curricula. The revamped UG courses also include an extended research internship of eight months. 

Additionally, IIT Kharagpur has taken steps to increase international student admissions by establishing the international student office. Furthermore, educational institutions in Andhra Pradesh are actively discussing the implementation of open curricula and transdisciplinary courses as per NEP 2020. Moreover, the All India Council for Technical Education (AICTE) has approved proposals from 89 engineering colleges, including self-financing private, government-run, and state-run institutions, fostering technical education across India. 

These initiatives signify the institute's commitment to multidisciplinary education and nurturing skilled professionals prepared for contemporary challenges.

Last Updated - 31/07/2023

Telangana State Government Boosts Medical Education, a potential increase in MBBS aspirants

Telangana's Health Minister T. Harish Rao disclosed that the state government invests significantly in medical education, offering generous financial aid of Rs 30 lakh for each MBBS student, Rs 45 lakh for postgraduate students, and Rs 75 lakh for super specialty medical students. The government aims to attract more students to pursue careers in medicine. 
Telangana already boasts an impressive ratio of 22 MBBS students per one lakh population and ranks second in the country with eight postgraduate medical students per one lakh population. The government's focus on medical education aligns with its mission to enhance the healthcare workforce's capabilities and cater to residents' medical needs.

By investing substantially in medical education, the government seeks to alleviate the financial burden on aspiring doctors and promote inclusivity in the healthcare sector. Financial aid is expected to attract more talented individuals to medical colleges, ensuring the availability of skilled healthcare professionals.

Telangana's dedicated approach to nurturing medical talent and improving healthcare accessibility positions it to realize its vision of becoming the number one state in doctor count. This commitment reflects the government's mission to ensure equal access to quality medical services for all residents, ultimately enhancing the overall health and well-being of the population.

Uzbekistan and India Forge Closer Educational Ties for MBBS Students

In a bid to bolster educational ties, the Health Ministry of Uzbekistan and TMA University have launched a helpline and an official website to assist Indian students pursuing medical education in Uzbekistan. The toll-free helpline, accessible at 1800-123-2931, will provide vital support to Indian students, while the website,, serves as an information hub on courses, universities, scholarships, visa procedures, and more.

Additionally, India and Uzbekistan have inked a memorandum of understanding (MoU) to promote student exchanges between their universities. The MoU will facilitate student mobility, joint research centers, and faculty and expert exchanges.

Uzbekistan's Medical Higher Educational Institutes (MHEIs) have also opened their doors to Indian medical students, offering 2000 seats following the MCI and NMC norms. Indian students can opt for two undergraduate medical programs: a 6-year MD Diploma or a 5+1-year MBBS degree with a one-year internship.

Furthermore, Uzbekistan reciprocates by providing scholarships to its students under the Indian Technical and Economic Cooperation (ITEC) program, fostering educational collaboration between the two nations.

Last update- 24/08/2023

Indian Medical Students' Fate in Philippines' Medical Courses Uncertain As NMC Disapproves

Indian students who pursued medical education in the Philippines now face uncertainty due to the National Medical Commission (NMC) disapproving both BS and MD medical courses in the country. This decision affects around 25,000 Indian students, including 3,000 to 4,000 from Maharashtra. The NMC's ruling applies to students admitted in the academic years 2020-21 and 2021-22. Concerned parents and students are urging reconsideration to mitigate educational and financial losses.

Admission to medical courses in India is highly competitive and expensive. Many students seek education abroad in countries like the Philippines for more accessible options. However, this new ruling may require Indian students to complete an additional 1.5 years of internship upon returning to India, except for those who study in countries like the USA, Canada, England, Australia, and New Zealand.

The NMC asserts that BS and MD courses in the Philippines are distinct from the MBBS in India, and therefore, graduates of these programs cannot register for medical practice in India. The BS course in the Philippines is a pre-medical program covering biology subjects similar to India's 11th and 12th grades.

Parents and students are concerned about the sudden invalidation of degrees, given the financial investments made. They are calling on the government to reconsider this decision, as it impacts thousands of students' access to higher education.

Last Updated - 16/09/2023

ADB Funds $500M for MBBS education and Healthcare Development in Maharashtra

The Asian Development Bank (ADB) recently sanctioned a $500 million loan dedicated to enhancing healthcare and medical education in Maharashtra. This initiative is aligned with the state government's aim to make tertiary healthcare more accessible and affordable for all by 2030. ADB's Health Specialist, Nishant Jain, emphasized their collaboration to fortify medical services and cultivate a skilled workforce in Maharashtra.

The Maharashtra Tertiary Care and Medical Education Sector Development Programme, supported by the ADB loan, intends to establish four new medical colleges equipped with state-of-the-art tertiary care hospitals. These institutions will prioritize resilience to climate challenges, gender inclusivity, and catering to underserved areas. Additionally, the plan involves expanding hospital bed capacity and recruiting a minimum of 500 doctors for these upcoming facilities.

ADB's involvement extends to creating a favorable policy landscape for attracting and retaining medical professionals. This includes offering performance-based incentives, implementing a novel talent management policy, and establishing healthcare and medical education centers of excellence - a first in India, initiated by the state. Furthermore, the program aims to alleviate the financial burden on patients by improving access to quality medication, employing sustainable asset management strategies, and introducing a performance-driven system to encourage healthy competition among medical colleges.

Last Updated - 30/11/2023

Karnataka Minorities Welfare Minister Plan to Hike in MBBS Education Loan Limits for Students

The Minorities Welfare Minister, Zameer Ahmed Khan, announced intentions to augment financial support for aspiring medical students and those pursuing higher education abroad through the Karnataka Minorities Development Corporation (KMDC). Khan revealed plans to boost the loans provided by KMDC for MBBS students from the current ₹3 lakh to ₹5 lakh, aiming to aid those enrolled under the government quota.

Moreover, Khan outlined proposals to elevate educational loan provisions for students pursuing undergraduate and postgraduate programs overseas from ₹20 lakh to ₹30 lakh. Emphasizing the significance of these enhancements, he highlighted their potential to facilitate underprivileged students' access to quality education.

During the launch of KMDC's 2023-24 schemes, the Minister underscored the imperative role these revised financial aids would play in empowering deserving students to pursue educational opportunities both within the country and abroad.

Last Updated - 30/11/2023

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Snigdha Paravasthu
WeMakeScholars- supported by IT Ministry, Govt. of India.
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