IndusInd Bank Abroad Education Loan

✓ Up to 50 lacs of Higher Education Loan

✓ Online application process

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Table of content

  1. IndusInd Bank Education Loan Schemes for Abroad studies
  2. Documents Required for IndusInd Bank Education Loan
  3. Interest Subsidies Provided by the Government for Education Loans
  4. IndusInd Bank Education Loan Repayment Process
  5. How to Apply for an Education Loan from IndusInd Bank?
  6. Benefits of Applying through WeMakeScholars
  7. FAQ's
  8. Need Help? Ask Here!

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Under its product specialization, the IndusInd bank education loan offers a finance solution for higher education. financing loans with 9% to 14% interest rates.

IndusInd Bank Education Loan Schemes for Abroad studies




Loan Limit

Depends on the applicant’s profile

Expenses covered

1. Cost of tuition/ tuition fee
2. Academic/ educational expenses such as

      • Examination fees
      • Charges for Laboratory and Library 

3. Cost of travel
4. Medical insurance for the student
5. Caution deposit as requested by the university
6. Expenses such as:

      • Books
      • Instruments
      • Uniforms 
      • Equipment

7. Miscellaneous costs 

  Accepted co-applicant

Parents, Parents-in-law, Spouse, Siblings 

IndusInd Bank Education loan interest rate/ rate of interest

Up to 14% 

Moratorium Period

Course duration + 1-year

Repayment Duration

  15 years

Repayment policies

The collected interest during the moratorium period will be added to the principal amount and in the repayment

IndusInd Bank Education Loan Eligibility Criteria

    1. The student must be an Indian citizen 
    2. Must have secured admission into the institution through required merit-based examinations 
    3. Should have completed 10+ 2. 
Get the financial support you need to achieve your career goals with WeMakeScholars

Documents Required for IndusInd Bank Education Loan



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

1. IndusInd Bank Education Loan Application form as provided by the financial officer 

      • Signed by the applicant and attached with two photographs

2. Address proof (any of the following)

      • Voter identification card
      • Passport 
      • Aadhar card 
      • Telephone bill
      • Ration card 
      • Electricity bill
      • Bank account statement 

Note: The student needs to have two different address proofs if the current and permanent address is not the same.

3. Proof of Identification:

      • PAN Card 
      • Passport

4.  Personal Asset and Liability Statement in this format, as assessed by a professional at the branch
5. The newest and most recent 6-month bank statement ( can be of personal or salary account)

      • The credits of the co-applicant must be shown if the co-applicant is salaried 
      • One year’s worth of company transactions must be shown if the co-applicant is self-employed.

The documents must be self-attested 

Applicant academic documents


    1. Enrollment proof evidencing the entire duration of the course. 
    2. The cost structure of the course (if available, i20)
    3. Marksheets of GRE/IELTS/GMAT
    4. University Ranking printout form 
    5. Scoresheets of 10th, 12th, and undergraduate.

Financial Co-applicant Income documents 

If Salaried:

      • Form 16 of the previous 2 years.
      • ID Card of the employer
      • The last two years ITR
      • Most recent pay slips (for the last 3 months)

If Self-employed:

      • 3 years Profit & Loss account and the balance sheet (only if self-employed businessman)
      • Past three years ITR
      • Proof of company address/ Business address
      • 3 years Profit & Loss account and the balance sheet (only if self-employed businessman)

Other Documents

    1. Affidavit of the property collateral owner (on Rs. 20 or 100 stamp paper). If there are multiple owners of the property, each of them must provide an affidavit.  
    2. A check for Rs. 11,800 is required as a processing fee.
    3. Additional checks for attorney and evaluator fees (if your legal and valuation process is done by the bank itself)
    4. A letter saying that the co-applicant would be responsible for any remaining costs not covered by the loan. 

 Additional docs 

1. A letter outlining the discrepancy
2. Any pending loan statements from the previous year.
3. Proforma invoice for the trip, laptop, or another item if you're requesting a loan for it.
4. If appropriate, a letter stating the lack of ITRs of the co-applicant 
5. Receipt for any payments in advance.


To help you avoid any potential enrollment delays or issues, we can provide you with a customized list of documents that take into account your profile and needs, saving you time in the process.

Stop stressing about enrollment paperwork and let us take care of it. Contact us to receive your custom document list.

Interest Subsidies Provided by the Government for Education Loans

In order to support the underprivileged populations in India, the Indian government provides subsidies. The interest accumulated during the moratorium period is paid by the Indian government under various programs.

Dr. Ambedkar's Central Sector Scheme
- The student must be a part of the economically backward class (EBC) and must have a gross annual income which is less than 8 Lakhs 

Padho Pradesh
- The student must belong to a religious minority (Christian, Jain, Sikh, Muslim, Zoroastrian, Buddist) and has a gross annual income lower than 6 lakhs 

Note: The scheme is currently not available to apply. However, the beneficiaries before the 31st of march 2022 will continue to receive interest subsidies.

Don't settle for a high ROI on your Higher education loan - we'll work to get you the best deal possible.

IndusInd Bank Education Loan Repayment Process

For a loan of 30 Lacs with an interest rate of about 10% and a repayment period of 12 years the amortization schedule would look like this

     Repayment cycle


Interest portion

Principal portion

Loan Outstanding

End of 1st year





End of 2nd year





End of 3rd year





End of 4th year





End of 5th year





End of 6th year





End of 7th year





End of 8th year





End of 9th year





End of 10th year





At WeMakeScholars, we are dedicated to offering reliable and all-encompassing services to students, and post-sanction assistance is just one of the many ways we aim to streamline the loan application process.

Our post-sanction assistance can help you avoid unnecessary delays in disbursing your education loan.

How to Apply for an Education Loan from IndusInd Bank?

IndusInd Bank Education Loan offline application process 

Step 1: Visit your nearest IndusInd bank operating branch of IndusInd bank.

Step 2: Learn about the education loan products offered by them and 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.

IndusInd Bank Education Loan Online Application process through WeMakeScholars 

Step 1: First, you need to fill out the common application form which you can find on the WeMakeScholars Website. 

Step 2: The financial officer will call you and will perform an analysis of your profile and let you know of all the lenders whom you can avail of a loan from. 

Step 3: Pick a lender from the list of lenders provided to you. 

Step 4: You will be given a list of documents that are to be submitted to the bank in order to start your higher education loan process. Accordingly, upload the document to the WeMakeScholars secure document portal. 

Step 5: You will immediately be logged in as soon as you upload the documents asked for. You will know the result of your loan application process within 15-20 days in the case of government banks and 2-6 days in the case of private banks. 

Step 6: Receive your sanction letter and sign your loan agreement.  

Issues the students face when Applying for a Loan directly

  • No post-disbursement support is offered
  • No negotiation is done on the interest rates
  • Unclear directions on how to apply for a loan
  • Very long processing time
  • Lack of customer support
  • No checklist of necessary documents

Benefits of Applying through WeMakeScholars

Negotiation on your behalf: The negotiation for a lower rate of interest will be done by our team of financial officers on your behalf. You can get a reduction of up to 2% on the rate of interest. 

Best customer service/support: You can contact us anytime between 9 AM to 9 PM to get any of your queries answered.

The cashback offered: By applying for your abroad education loan with us, you are helping the Digital India initiative and will be rewarded with cashback on repeated disbursements of up to a maximum of Rs. 3000. 

Technologically advanced: You can complete the entire process of getting your student loan from filling in the application to getting the sanction letter without having to leave your house when you process your loan with WeMakeScholars.

Find out how easy it can be to fund your education - apply for your education loan through WMS and experience the benefits.

Our Education Loan team will help you with any questions

Naresh Kumar
WeMakeScholars- supported by IT Ministry, Govt. of India.
Published: | Updated: