Indian NBFCs are now aggressively funding study abroad aspirants – with loan amounts up to \u20b93 crore, collateral-free options, and lenders who specifically understand international university admissions. Here is every major NBFC option explained clearly, so you can choose the right one for your profile.<\/p>\n","protected":false},"excerpt":{"rendered":"
Indian NBFCs are now aggressively funding study abroad aspirants – with loan amounts up to \u20b93 crore, collateral-free options, and lenders who specifically understand international university admissions. Here is every major NBFC option explained clearly, so you can choose the right one for your profile.<\/p>\n","protected":false},"author":2,"featured_media":2680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"post_views_count":61,"footnotes":""},"categories":[700,129],"tags":[807,806,43,299,805,808,42,804,809],"class_list":["post-2667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education-loan","category-study-abroad"],"acf":{"single_page":[{"heading":"Why Are NBFCs Changing the Game for Study Abroad?","content":"
Taking a study abroad loan from a conventional financial institution used to be a nightmare: piles of paperwork, stringent collateral requirements, lengthy application processes, and loan officers with no clue about the majority of foreign universities that international students want to study in.<\/p>\n
However, the advent of non-banking finance companies (NBFCs) has made it easier. Over the past few years, we have seen the emergence of numerous NBFCs that target study abroad loans. These NBFCs know all about IELTS scorecards, I-20 forms, offer letters, and have helped countless international students get admission into universities in the US, UK, Australia, Canada, and other foreign countries. Some even provide unsecured loans, which means you do not need to provide any collateral, property, or guarantor.<\/p>\n
And the outcome is clear: today more Indian students are studying in foreign universities than ever before.<\/p>\n","image":"https:\/\/blogs.mystudyoffers.com\/wp-content\/uploads\/2026\/06\/travel-agent-offering-trip-planning-clients-1-scaled.jpg"},{"heading":"The 10 Major NBFCs Offering Study Abroad Education Loans","content":"
Credila is India’s first dedicated education loan company and the market leader by volume. It is backed by HDFC and has the widest university coverage of any lender in India. If you are going to a recognised institution, Credila will almost certainly have processed loans for students there before.<\/p>\n
Key strengths: High sanction amounts, wide university network, and competitive rates for strong profiles. Its secured loan product suits students who have collateral to offer, typically property and want the best possible rate. The unsecured option is available for top-ranked universities.<\/p>\n
Avanse is one of India’s most active education loan NBFCs, with a specific focus on international students. Its processing speed is notably faster than most traditional lenders, and its documentation requirements are streamlined compared to banks.<\/p>\n
Key strengths: Fast disbursal, minimal documentation, and a team that genuinely understands the study abroad application cycle. Good option for students who need quick funding confirmation for university deposits.<\/p>\n
InCred is built for students who either do not have collateral or do not want to pledge it. Its 100% unsecured loan model means no property, no guarantor, and no security requirement just your admission letter and your profile.<\/p>\n
Key strengths: Absolutely free from collateral, an attractive interest rate on unsecured loans, and fast approval. The best option for those who have been admitted to high-ranking universities, where InCred is sure about their future employment.<\/p>\n
The Tata Capital brand holds a lot of credibility, and the education loan offered under this company is made even more reliable owing to the strong backing of an equally credible banking conglomerate in India. Competitive interest rates and a flexible repayment structure add to the strengths of this loan product.<\/p>\n
Key strengths: Credible brand, flexible repayment structure, great for students wanting a lender with branches pan-India.<\/p>\n
Poonawalla Fincorp offers one of the highest maximum loan amounts in the market, up to \u20b93 crore, and its entire process is digital. No branch visits required. Fast disbursals and a genuinely tech-first application experience.<\/p>\n
Key strengths: High loan ceiling (matches Credila at \u20b93 crore), 100% digital process, fast turnaround. Good for students targeting expensive programmes, medicine MBA where total costs are high.<\/p>\n
Auxilo aims at those who don\u2019t have an excellent profile, average grades, go to a lower-ranking college or university, or have a co-applicant whose only strong point is income. Customised loans and a high probability of approval for profiles rejected by mainstream lenders.<\/p>\n
Key strengths: More flexible approach, customised loan products, suitable for applicants refused elsewhere.<\/p>\n
Propelld is a newer entrant focused on minimal-friction, quick-process, no-collateral loans, and minimal documentation. It works particularly well for short-term professional courses, bootcamps, and certification programmes at top global institutions.<\/p>\n
Key strengths: Speed, simplicity, and coverage of shorter-duration courses that traditional lenders may decline.<\/p>\n
Leap Finance is purpose-built for Indian students going to the United States for master’s degrees, particularly in STEM fields. No collateral, no co-applicant required, and quick approvals. The product is designed specifically around the US graduate admission cycle.<\/p>\n
Key strengths: Deep USA-specific expertise, no collateral, fast approvals. If your destination is the US for a master’s, Leap Finance understands your situation better than most.<\/p>\n
Prodigy Finance is not an NBFC from India. It is an international student lending institution from the UK that lends money across 150+ countries worldwide. Its distinguishing feature: loans offered to individuals based on their future earning capacity instead of collateral or parents\u2019 income. A co-applicant from India is not required.<\/p>\n
Key strengths: Accessible in countries not covered by other Indian loan providers, no requirement for collateral or a co-applicant, available to students studying at world-class universities. Best suited for students pursuing MBA, law or STEM education at world-ranked universities.<\/p>\n
NOTE:<\/strong> Because Prodigy Finance bases its assessment on projected graduate income, interest rates may be higher than comparable collateralised Indian loans. Compare carefully before committing.<\/p>\n mPOWER Financing is another international lender, US-based, that specifically serves international students globally. No collateral, no co-applicant, instant approval in principle. It operates at top universities in the USA, Canada, UK, and beyond.<\/p>\n Key strengths: Global reach, no co-applicant or collateral required, instant approval decision. Good for students whose family cannot act as a co-applicant for any reason.<\/p>\n","image":false},{"heading":"Quick Comparison: Which NBFC Is Right for You? ","content":" Consider: <\/strong>Credila or Poonawalla Fincorp (both up to \u20b93 Crore)<\/p>\n Consider: <\/strong>InCred, Leap Finance, Prodigy Finance, or mPOWER<\/p>\n Consider: <\/strong>Avanse or Propelld<\/p>\n Consider: <\/strong>Tata Capital<\/p>\n Consider: <\/strong>Auxilo<\/p>\n Consider: <\/strong>Leap Finance<\/p>\n Consider: <\/strong>Prodigy Finance or mPOWER<\/p>\n Consider: <\/strong>Poonawalla Fincorp<\/p>\n","image":"https:\/\/blogs.mystudyoffers.com\/wp-content\/uploads\/2026\/06\/students-reading-coffee-shop-1-1-scaled.jpg"},{"heading":"What Should You Know Before Applying?","content":" The image note says it best: interest rates, processing fees, and loan terms vary by lender and profile. A student with a top-ranked university admit and high co-applicant income will get materially better rates than a student with an average profile. Always get quotes from at least 2\u20133 lenders before committing.<\/p>\n Secured loans where you pledge property or fixed deposits as collateral typically carry lower interest rates. Unsecured loans are more accessible but cost more over the loan tenure. If your family has eligible collateral and is willing to pledge it, a secured loan from Credila or Tata Capital will almost always be cheaper over 10 years than an unsecured loan from InCred or Leap Finance.<\/p>\n Most NBFCs charge a processing fee, typically 0.5%\u20131.5% of the loan amount. On a \u20b950 lakh loan, that is \u20b925,000\u2013\u20b975,000 upfront. Always check this before you sign.<\/p>\n In most cases, education loans have what is known as a moratorium period, which is a period following your completion (usually between six and twelve months). You can use this time to secure a job.<\/p>\n If you borrow from Prodigy Finance or mPOWER in USD or GBP and repay in INR, exchange rate movements over your repayment tenure affect your effective cost. This is a real risk that is often not discussed clearly at the application stage.<\/p>\n","image":false},{"heading":"The One Thing That Matters Most","content":" The best education loan is the loan that can get you into your dream university with minimum expenditure and minimum risk for your family.<\/p>\n This does not mean evaluating only the maximum loan that you can apply for or how fast you can get approved for it, but evaluating the overall amount you need to repay during the period, checking if your future salary is enough to pay for the EMIs, and evaluating whether you are really worth taking the loan for your studies.<\/p>\n A \u20b950 lakh loan at 11% over 10 years means an EMI of approximately \u20b969,000\/month. If the job you are targeting in your destination country pays the equivalent of \u20b92\u20133 lakh\/month, that is manageable. If it pays \u20b980,000\/month, it is not.<\/p>\n Do the maths before the excitement of the admit takes over.<\/p>\n","image":false},{"heading":"How Can We Help?","content":" Financing your study abroad journey involves more than choosing a university. Comparing education loan options, understanding lender requirements, evaluating interest rates, and preparing a strong loan application all require careful planning.<\/p>\n10. mPOWER Financing: Global Student Lender<\/strong><\/h5>\n
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If you need: The highest possible loan amount<\/strong><\/h5>\n
If you need: No collateral, no co-applicant<\/strong><\/h5>\n
If you need: Fast processing for a university deposit deadline<\/strong><\/h5>\n
If you need: A trusted brand with pan-India branch access<\/strong><\/h5>\n
If you need: Approval despite an average academic profile<\/strong><\/h5>\n
If you need: USA master’s \/ STEM specific<\/strong><\/h5>\n
If you need: Non-India destination not covered by others<\/strong><\/h5>\n
If you need: Digital-first, no branch visits<\/strong><\/h5>\n
Interest rates vary; always compare.<\/strong><\/h5>\n
Secured vs unsecured is a real tradeoff.<\/strong><\/h5>\n
Processing fees are additional.<\/strong><\/h5>\n
Moratorium period matters.<\/strong><\/h5>\n
Currency risk for international lenders.<\/strong><\/h5>\n