Saraswat Bank Abroad Education Loan

✓ Apply Online

✓ At a starting rate of interest of 9% P.A.

Speak with a Financial officer

Due to high number of loan requests from your region, we are not accepting any new applications at the moment. We believe in offering quality service to our customers.

Sorry for the inconvenience caused.

Table of content

  1. Saraswat Bank offers education loan for abroad studies as per the following scheme:
  2. Documents required to get Abroad education loan from Saraswat bank
  3. Saraswat Bank Abroad Education loan repayment policies
  4. Benefits of Saraswat Bank Abroad education Loan
  5. Why choose WeMakeScholars?
  6. FAQ's
  7. Need Help? Ask Here!

Saraswat Co-operative bank limited is an urban co-operative bank which offers student loans of upto 1.5 crores to study aspirants for their abroad education at interest rates starting from 9%. 

Saraswat Bank offers education loan for abroad studies as per the following scheme:

Loan Parameters


  Loan Limit

Upto Rs 1.5 Cr 

Upto Rs 10 lacs for vocational courses

Expenses covered

Upto 100% finance for: 

- Traveling expenses
- Course fees 
- Hostel and lodging charges
- Cost of uniform, instruments, equipment, etc
- Cost of study tours and thesis
- Library and lab fees
- Books and stationary charges
- Laptop purchasing cost

Accepted co-applicant

Parents, Parents-in-law, Siblings, Spouse

Saraswat Bank Education loan rate of interest for Saraswati Education loan scheme for abroad

Starts from 9% (floating)

Moratorium Period

3 years or course duration + 1 year

(whichever is earlier)

Repayment Duration

Upto 12 years excluding the moratorium period

Repayment policy

The student will have to pay a monthly EMI to repay the loan in 12 years after the moratorium period ends

Loan Margin

Upto 4 lacs loan amount - 0% margin

Above 4 lacs loan amount - 15% margin

Eligibility Criteria

- Only Indian students are eligible to take loans
- Student should have secured admission to a college or university abroad

Make your dreams a reality by taking advantage of available loan options.

Documents required to get Abroad education loan from Saraswat bank

An applicant must submit the required paperwork as per the below given documents checklist to Saraswat Bank in order for the loan application procedure to begin. 

Application form 

Education loan application form filled by student either in the bank or hardcopy of online application form filled WeMakeScholars website, with 2 passport size photographs

Identity card of applicant and co-borrower (any one)

- Passport
- Driving License
- Voter's ID Card
- PAN Card
- Aadhaar Card

Applicant, co-applicant or guarantor’s basic documents

- Salary or personal bank statement of last 6 months, if the co-applicant is salaried. If the co-applicant is self employed then 1 year business transactions is required
- Asset and liability statement of bank account, verified by bank’s branch professionals 
- Proof of amount crediting every month 
- Proof of address – Passport/ Electricity Bill/ Ration card/ Voter ID Card/ Telephone Bill/ Bank statement of account/ Aadhar card/. 

Student/ applicant must self-attest their documents

Applicant's academic documents

- Proof of total fees of the course along with payment schedule
- Certificates and marksheet of class 10th, 12th, and Degree
- Entrance exam score cards - GRE/GMAT/TOEFL/IELTS, etc. (whichever is applicable)
- Scholarship proofs (if applicable)
- Proof of admission in the course, showing the total duration of course 

Documents of income proofs of co-applicant

If Salaried

- Form 16 details of last 2 years 
- Last 2 years ITR proofs
- Employer’s  ID card
- Last 3 month’s salary certificate on employer's letterhead or salary slip
- Other income proofs apart from those mentioned above

If Self-employed

- Proof of address of business
- Last 2 year's certified financial statements or provisional financial statements duly certified by CA
- Any other income proof that is not reflected in the above documents
- Profit and loss statement of account and balance sheet of last 3 years
- ITR of last 2 year
- Address proof of office (any one of the following, Lease Deed, Utility Bill, Title Deed, etc.)

Other Documents

- Co-applicant's declaration stating that all other expenses, those are not covered in the loan amount, will be borne by them.
- Legal notarized agreement from student and co-applicant’s side in format that will be shared by your financial officer

Miscellaneous docs (whichever applicable)

- Proof of any payments made in the last 6 months, which was covered in the loan.
- Break certificate will be required on Rs. 100 stamp paper, if the student has any gap in studies.
- Pending loan account statements (if any) in the past 1 year.

The list of documents described above is susceptible to change. To get your document checklist as per your loan eligibility and profile requirement, ask from your financial officer at WeMakeScholars or fill the eligibility check form

You have enough to worry about - let us handle your document needs with a personalized list.

Saraswat Bank Abroad Education loan repayment policies

Students have a repayment deadline, in case of Saraswat bank, the repayment duration can be of upto 12 years, after moratorium period. However, students can opt to repay their education loan earlier to this deadline, by :

- Prepayment or Part Payment
- Opting for shorter repayment periods
- Considering transferring your education loan

When you process your education loan through WeMakeScholars our team will provide you complete financial guidance, from application step to final repayment procedure. Choose WeMakeScholars to manage the processing of your student loans by filling out a common application form or requesting a callback.

Benefits of Saraswat Bank Abroad education Loan

Saraswat bank has adopted various digital banking services such as mobile banking, internet banking, international VISA EMV and RuPay cards and many more, upscaling its services and making it more convenient for students to repay the education loan. But still we suggest students to apply for education loan from Saraswat bank through WeMakeScholars, because there are:

Issues which students face when reaching out to the lender directly:

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

Why choose WeMakeScholars?

You can easily jump over these above-mentioned hurdles by taking a leap with WeMakeScholars. Here are the benefits of processing your education loan via WeMakeScholars:

Digitized application process - Access all the lenders and the education loan process by filling out just a single common application form digitally. 

Expert guidance - Our team of financial officers at WeMakeScholars offers you a complete analysis of  your profile and connects you to the banks that would be best to process your loan 

Minimal Processing time - We reduce the processing time required for your loan by doing all the talking parts for you and getting the loan sanctioned within 15-20 working days.

Negotiation support - We offer negotiation support to the students to help them get the most out of the loan

Consistent availability  - You can reach out to us round the clock for any assistance or updates that you might require at any stage of your application process

Tax benefits - We clearly explain all the tax saving schemes by the Government Of India you can avail.

Cashback offer - You can receive a cashback of up to 3000 from us at the time of your loan disbursement. 

To fast-track, your education loan process, visit WeMakeScholars and apply online for an education loan. We are the leading education loan processing partner and have helped thousands of students in getting their education loans sanctioned within their deadline. Request a callback, or fill out a common application form, that will connect you to 10+ public and private banks in India so that you can compare and get the best education loan deal.

Don't let loan disbursement become a burden - let us handle it for you.

Our Education Loan team will help you with any questions

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