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Find The Best Abroad
Education Loans In The Australia

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Non Collateral Loans
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10K+ Loans Faciliated
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20+ Banking Partners
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2000 Cr+ Loan Amount Disbursed

NBFCs

avanse
fireClock

3 days loan processing time

GreenCheck

Quick Approvals

Secured Loan

Upto ₹2Cr

Processing Fees

0.5% - 1.0%

Margin

NA

Loan Tenure

Upto 15 Years

Early Repayment

Yes

Living Cost

Yes
incred
fireClock

5 days loan processing time

GreenCheck

Quick Approvals

Secured Loan

Upto ₹2Cr

Processing Fees

NA

Margin

NA

Loan Tenure

Upto 15 Years

Early Repayment

Yes

Living Cost

Yes
hdfc-credila
fireClock

9 days loan processing time

Secured Loan

NA

Processing Fees

0.85% - 1.0%

Margin

NA

Loan Tenure

Upto 15 Years

Early Repayment

Yes

Living Cost

Yes
auxilo
fireClock

3 days loan processing time

GreenCheck

Quick Approvals

Secured Loan

Upto ₹2Cr

Processing Fees

NA

Margin

NA

Loan Tenure

Upto 15 Years

Early Repayment

Yes

Living Cost

Yes
credenc
fireClock

1 day loan processing time

GreenCheck

Quick Approvals

Secured Loan

Upto ₹1Cr

Processing Fees

1.0% - 1.5%

Margin

NA

Loan Tenure

Upto 12 Years

Early Repayment

No

Living Cost

No
tata-capital
fireClock

5 days loan processing time

GreenCheck

Quick Approvals

Secured Loan

Upto ₹2Cr

Processing Fees

0.5% - 1.0%

Margin

NA

Loan Tenure

Upto 15 Years

Early Repayment

Yes

Living Cost

Yes

International Funds

prodigy-finance
fireClock

5 days loan processing time

GreenCheck

Quick Approvals

Secured Loan

No Upper Limit

Processing Fees

NA

Margin

NA

Loan Tenure

Upto 15 Years

Early Repayment

Yes

Living Cost

Yes

Private Bank

axis-bank
fireClock

7 days loan processing time

Secured Loan

Upto ₹3Cr

Processing Fees

0.5% - 1.0%

Margin

NA

Loan Tenure

Upto 15 Years

Early Repayment

Yes

Living Cost

Yes
icici-bank
fireClock

5 days loan processing time

GreenCheck

Quick Approvals

Secured Loan

Upto ₹2Cr

Processing Fees

0.5% - 1.0%

Margin

NA

Loan Tenure

Upto 14 Years

Early Repayment

Yes

Living Cost

Yes
idfc
fireClock

8 days loan processing time

Secured Loan

Upto ₹2Cr

Processing Fees

0.5% - 1.0%

Margin

NA

Loan Tenure

Upto 15 Years

Early Repayment

Yes

Living Cost

Yes
csb-bank
fireClock

7 days loan processing time

Secured Loan

Upto ₹2Cr

Processing Fees

0.5% - 1.0%

Margin

NA

Loan Tenure

Upto 15 Years

Early Repayment

No

Living Cost

Yes
yes-bank
fireClock

7 days loan processing time

Secured Loan

Upto ₹2Cr

Processing Fees

0.5% - 1.0%

Margin

NA

Loan Tenure

Upto 15 Years

Early Repayment

Yes

Living Cost

Yes

PSU

bank-of-baroda
fireClock

9 days loan processing time

Secured Loan

Upto ₹2Cr

Processing Fees

NA

Margin

15%

Loan Tenure

Upto 15 Years

Early Repayment

Yes

Living Cost

Yes
union-bank-of-india
fireClock

9 days loan processing time

Secured Loan

Upto ₹75Lac

Processing Fees

NA

Margin

15%

Loan Tenure

Upto 15 Years

Early Repayment

No

Living Cost

Yes
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What our Students say about us

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Student Loan in Australia


Lakhs of international students consider Australia a leading destination annually for its high-quality education system and substantial employment opportunities. In the year-to-date February 2024, there were 703,245 enrollments by international students, compared with 578,930 in 2019. 


Students worldwide and in India consider Australia one of the most significant places to study. Often, students who wish to study there need the help of education loans. This is because education in an international destination can be expensive and challenging for students without some level of assistance. Several private and public banks in India offer education loans for students in Australia. If not for these two, students can approach NBFCs to secure student loans in Australia!


Why Choose Australia For Higher Education?


Australia is one of the most popular destinations for international students, offering a unique combination of quality education, cultural diversity, and a welcoming environment. Known for its world-class universities and happening lifestyle, the country provides students with the opportunity to grow academically, professionally, and personally.

 

  • World-Class Education: Australian universities are globally recognised, with eight institutions in the QS World University Rankings top 100. They offer diverse programmes aligned with various career goals. 
  • Cultural Diversity: Known for its multicultural environment, Australia allows students to interact with peers from different backgrounds, enriching their educational and personal experiences.
  • Research Opportunities: Known for innovation, Australia provides access to cutting-edge research facilities and significant projects, enhancing employability.
  • Work Opportunities: International students can work part-time during their studies and leverage post-study work visas for professional growth after graduation.
  • High Quality of Life: Australia offers a safe, relaxed lifestyle, excellent healthcare, and world-famous scenic beauty, with cities like Melbourne ranked among the most livable globally.
  • Financial Support: While tuition fees are competitive, numerous scholarships and options for study loans for Australia are viable for international students.
 

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

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Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

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Popular Courses & University Fees In Australia For Indian Students


This table provides a comprehensive overview of popular courses and universities in Australia, along with their QS rankings and estimated tuition fees. It helps you make informed decisions about student loans for Australia.

 

Course

University

QS Ranking 2024

Estimated Annual Tuition Fees (AUD)

Computer Science

University of Melbourne

33

$40,000 - $50,000

Engineering

Monash University

40

$40,000 - $50,000

Business Administration

University of Sydney

41

$40,000 - $60,000

Nursing

University of Queensland

54

$30,000 - $45,000

Information Technology

University of Technology Sydney

58

$35,000 - $50,000

Psychology

University of New South Wales

52

$35,000 - $50,000

Hospitality Management

Griffith University

74

$30,000 - $45,000

Environmental Science

University of Western Australia

51

$35,000 - $50,000

Health Sciences

Deakin University

51

$30,000 - $45,000

Data Science

Australian National University

34

$40,000 - $55,000


Cost Of Studying In Australia Before Taking A Student Loan


Understanding the cost of studying in Australia is crucial before taking a student loan, as it helps you plan your finances effectively and avoid unnecessary debt. By knowing tuition fees, living expenses, and other costs upfront, you can choose a loan amount that aligns with your needs and repayment capacity. 

 

Off-Campus Accommodation 

AU$ 800

On-Campus Accommodation

AU$ 1,754

Transportation

AU$ 150

Food Cost

AU$ 780

Entertainment

AU$ 80

Groceries

AU$ 68

Clothes

AU$ 153


Things That An Australian Study Loan Covers


The best part of taking a study loan for Australia with UniCreds is that you can get up to 100%* financing, implying that the loan will cover all your expenses. The following are the things you can expect a student loan in Australia to cover -

 

  1. Tuition Costs
  2. Travel & Transport, including the tickets
  3. Accommodation & Rental expenses
  4. University fees & additional course costs
  5. Food expenditures
  6. Living expenses
  7. Laptop
  8. Other research, thesis, and project-work-related expenses
  9. Any other expense required for your education

Types of Loans For International Students In Australia


Study loans for Australia are typically categorised into collateral and non-collateral loans, each offering unique benefits depending on your financial situation and requirements. Understanding these options can help you decide and choose the loan that best suits your needs. Here we go: 

 

Education Loan With Collateral For Australia

 

A collateral study loan Australia requires the borrower to pledge an asset as security to the lender. This type of loan is ideal for students who can provide collateral such as property, fixed deposits, or other financial assets. 

 

Lender Name

Loan Upper Limit

Education Loan Interest Rates For Abroad Studies

UBI Education Loan

Up to INR 1.5 Cr

9.85% - 10.5%

Axis Bank Education Loan

Up to INR 2.5 Cr

9.9%-12.5%

ICICI Bank Education Loan

Up to INR 1.5 Cr

9.85% - 12% 

IDFC Education Loan

Up to INR 1.5 Cr

9.5% - 12.75%

Bank of Baroda Education Loan

Up to INR 1.5 Cr. 

9.7%-10.2%

 

Non-collateral Education Loan For Australia

 

As the name suggests, a non-collateral education loan for Australia does not require any security or asset pledge. These loans are tailored for students who cannot or do not wish to provide collateral but still meet the lender’s income and credit criteria. Given below are some options for study loan in Australia without security:

 

Lender Name

Loan Upper Limit

Interest Rate

UBI Education Loan

Up to 40 Lakhs INR

9.80% – 11.30%

Axis Bank Education Loan

Up to 50 Lakhs INR

11.00% – 11.50%

ICICI Bank Education Loan

Up to 50 Lakhs INR

10.85% – 12.50%

IDFC Education Loan

Up to 50 Lakhs INR

11.50% – 13.25%

HDFC Credila

Up to 65 Lakhs INR

11.25% – 13.00%

Avanse Education Loan

Up to 75 Lakhs INR

12.50% – 13.50%

Auxilo Education Loan

Up to 65 Lakhs INR

11.25% – 14.00%

Incred Education Loan

Up to 60 Lakhs INR

12.00% – 14.00%


Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

unicreds

Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

unicreds-scholar-girl

Eligibility Criteria For Student Loan To Study In Australia


When applying for a student loan to study in Australia, you must meet certain eligibility requirements set by lenders. While specific criteria may vary depending on whether you are opting for a collateral or non-collateral loan, here are the general conditions:

 

1. Admission to a Recognised Institution: You must have secured admission to a recognised Australian university or educational institution. The course must be full-time and eligible for loan funding (e.g., undergraduate, postgraduate, or professional programmes). 

 

2. Nationality: Loans are usually available to Indian nationals applying for education loans to study abroad. Some lenders may require a guarantor or co-borrower to be an Indian resident.

 

3. Academic Performance: A consistent academic record may be required to demonstrate your ability to complete the course successfully. Some lenders may consider entrance exam scores (such as the GMAT, GRE, IELTS, or TOEFL) as part of the evaluation.

 

4. Financial Co-Applicant: Most lenders require a co-applicant (such as a parent, guardian, or spouse) with a stable income and good credit history. The co-applicant's income and financial stability are key factors in determining the loan amount and approval.

 

5. Age Limit: Applicants must typically be within a specific age range, often 18 to 35, to qualify for a student loan.

 

6. Loan Coverage and Collateral: For collateral loans, you must provide an asset as security (e.g., property, fixed deposits, or bonds). Non-collateral loans require proof of income and creditworthiness instead of collateral. 

 


Documents Required For Education Loans For Australia


Having the right documents is essential for a smooth approval process when applying for an education loan to study in Australia. Lenders require proof of identity, academic records, and financial stability to assess your eligibility and determine loan terms.

 

Category

Documents

Application Form

Filled education loan form with required details.

Identity Proof

PAN card, Passport.

Residency Proof (any one)

Voter ID Card, Bank account statement, Passport, Electricity Bill, Aadhaar, Ration Card, Telephone Bill.

Co-Borrower Bank Statement

- Salaried: 6-month bank statement with 1 year of salary credits.

- Self-employed: 6-month bank statement with 1 year of business transactions.

Asset & Liability Statement

Personal Asset & Liability Statement (self-attested).

Academic Documents

- Marksheets and certifications of 10th, 12th, and degree.

- Proof of enrollment.

- Course cost/fee structure.

- IELTS/GMAT/GRE Scorecard.

- University ranking print-out.

Financial Co-Applicant Documents

- Salaried: 3-month salary slips, Form 16 of previous two years, employer ID card.

- Self-employed: Income Tax Returns (ITR) of the last two years.


Why Choose UniCreds for Student Loans Australia In India?


UniCreds simplifies securing a student loan for studying in Australia by offering personalised support and a wide range of loan options tailored to your needs.

Here’s why UniCreds is the preferred choice for thousands of students:

  • Wide Network of Lenders: Access competitive loan options from leading nationalised banks, private lenders, and NBFCs, ensuring you get the best terms for your financial requirements.

 

  • Expert Guidance: Receive end-to-end assistance from experienced financial advisors who guide you through the loan process, from documentation to approval.

 

  • Quick and Hassle-Free Process: Streamlined application procedures with minimal paperwork and fast approvals, saving time and effort.

 

  • Flexible Loan Options: Based on your financial situation, you can choose from collateral and non-collateral loan options, which can cover tuition fees, living expenses, and more.

 

  • Customised Solutions: Benefit from tailored loan solutions that align with your course, university, and career aspirations. 

 

  • Transparent Processes: Enjoy complete transparency with no hidden charges, ensuring clarity at every step of the loan process.

Student Visa Requirements For Australia


When seeking an Australian Student Visa online, creating an account on the Department of Home Affairs' online application system, ImmiAccount, is vital. This platform will enable you to complete and submit your student visa application and track its progress. It is recommended that you submit your application at least six weeks before the commencement of your course but not earlier than 12 weeks. Check out the documents below that are required for the visa application.

 

  • Documents Required for Australian Student Visa
  • Proof of Enrolment (eCOE)
  • Valid Passport
  • Visa Application Fee
  • Genuine Temporary Entrant (GTE) Statement
  • Academic and Work Experience Documents
  • Evidence of English Proficiency Skills (e.g., IELTS)
  • Evidence of Financial Ability (Tuition, Living Expenses)
  • Evidence of Financial Ability (Expenses for Dependents)
  • Evidence of Financial Ability (Return Airfare)
  • Details of Health Insurance Policy (OSHC)
  • Passport-Size Photographs

 


Evaluate your Australia Education Loan Repayment.

Frequently Asked Questions

A university may grant you a general loan for up to $4000 to $8,000*, and a bank may grant you a loan for a more considerable sum. You can approach banks and NBFCs to inquire about and learn about different loan options for studying in Australia.
Numerous programmes in Australia help international students receive free education. However, your scholarship may not cover some fees, including visa fees.
Australia is one of the most expensive countries in the world for overseas students due to its high tuition and cost of living. According to an HSBC survey, overseas students spend, on average, more than $42,300 annually attending Australian universities. But don’t be discouraged—there are multiple funding resources available that can help you get back your education abroad in Australia.
While enrolled full-time, a student on a student visa can work both on and off campus for a minimum pay of $21.38 per hour or $812.60 per week (before tax)
After graduating, many overseas students opt to submit a permanent residency application. Through the Department of Immigration and Border Protection's SkillSelect migration programme, you must 'express interest' in doing so.