logo
bannerBackground

Find The Best Abroad
Education Loans In The UK

thunder
Non Collateral Loans
thunder
5K+ Loans Faciliated
thunder
15+ Banking Partners
thunder
1000 Cr+ Loan Amount Disbursed

NBFCs

avanse
fireClock

3 days loan processing time

GreenCheck

Quick Approvals

Secured Loan

Upto ₹2Cr

Processing Fees

0.75% - 1.5%

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

0.75% - 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

0.75% - 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

1.0% - 1.0%

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

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 20 Years

Early Repayment

Yes

Living Cost

Yes

Private Bank

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 15 Years

Early Repayment

Yes

Living Cost

Yes
axis-bank
fireClock

7 days loan processing time

Secured Loan

Upto ₹3Cr

Processing Fees

0.25% - 1.0%

Margin

NA

Loan Tenure

Upto 15 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

PSU

bank-of-baroda
fireClock

9 days loan processing time

Secured Loan

Upto ₹2Cr

Processing Fees

NA

Margin

NA

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
star
star
star
star
star

What our Students say about us

star

Student Loan to study in United Kingdom


The UK has always been an attractive destination for international students. Thanks to its renowned education system, India is the second-largest source of students enrolling in UK universities. However, the fee structure, as well as other expenditures such as housing, transport, and food, make the UK among the most expensive countries. When applying to UK institutions, a candidate must present a well-structured budget plan. Students seeking admission often look for student finance in the UK to fund their studies. To do so, an education loan in the UK is one of the most common options among students worldwide. Several banks & NBFCs assist you in funding your tuition costs as well as the numerous additional expenditures that come with studying abroad. When opposed to the tedious paperwork that students had to do, applying for an education loan to study in the UK is now a simple process. Apply for the best student loans in the UK with UniCreds and fulfil your study abroad goals!


Eligibility Criteria For Education Loans In The UK


Before understanding the entire process in detail of student finance UK & everything around it, check out the standard eligibility criteria to acquire international student loans in the UK. Note that the below-given criteria are the standard requirement and with different institutes, the requirements will vary depending on their processes.

 

1. You must be a citizen of India
2. You must be above the age of 18 years or your parents will have to take the loan for you.
3. Must have a confirmed admission in a recognized UK institution
4. A co-applicant who is either a parent or a spouse is required
5. Co-applicants must have a stable and secure income source
 

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

Documents Required For A Study loan for UK in India


While each bank and financial institution has its own paperwork requirements and procedures, here is a typical list of documents you should have on hand when applying for an education loan in the UK -

 

1. Completed application form
2. Proof of Identity
3. Address verification
4. Proof of income
5. Photographs in passport size
6. Marksheets for school and university
7. Admission letter
8. Admission letter
9. Other Expenses List
10. Copy of a foreign exchange permit
11. The co-borrower must submit a concise summary of assets and liabilities
12. Other financial documents
 

Cost To Study Abroad In The UK


The cost of studying in the UK varies depending on the institution, the course choice, scholarships & grants, and several other factors. Tuition costs in the UK have progressively climbed over the years, with EU and UK students paying around £9,250 per year. At the same time, tuition prices for international students start at around £10,000 and rise to around £38,000 for specialised degrees in medicine and other fields. Humanities and social sciences degrees are less expensive, but clinical degrees and laboratory studies are more expensive. In order to overcome the exorbitant expenses that may seem overwhelming, it is advisable to secure an education loan in the UK that’ll cover a chunk of your major expenses.


Things That A UK Education Loan Covers


The best part of taking a UK education loan for international students with UniCreds is that you can get up to 100% financing implying that all your expenses will be covered by the loan. The following are the things you can expect a student loan in the UK 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 Available For Studying Abroad In The UK


In the UK, there are primarily 2 types of loans available to students. What type of loan you apply for, however, will depend on the financial institution and your eligibility -

 

  • Secured Education Loans: In the UK, a secured student loan is one for which the applicant must offer security or collateral. Apartments and retail stores are instances of tangible assets, whereas fixed deposits and government bonds are examples of intangible securities.

 

  • Unsecured Education Loans: An education loan in the UK without collateral is an unsecured loan. As the name implies, applying for an unsecured student loan in the UK. However, it is important for students to note that the interest rates may be higher for an unsecured education loan in the UK due to no collateral.

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

Tips For Choosing The Best UK Student Loan


Applying for an education loan in the UK involves a lot of research and requires a set of steps to be followed. The procedure may seem cumbersome at first, and the student may get overwhelmed when applying. However, UniCreds makes it easier for students with expert counsellors assisting students at every step of the process at no extra cost. There are some tips that students should be aware of when applying for a UK student loan and they include - Selecting A Financial Institution Selecting a bank or NBFC that offers the best loan terms is more important than ones that give more finances. It is also important to verify if the lender gives the option to make the EMI payments in advance or allows for partly payments of the loan. Knowing the service charges and prepayment penalties is a must.

Total EMI Cost The EMI paid for an education loan in the UK depends on how a student chooses to repay the loan. Some students choose to borrow money for a longer period of time since the EMI would be lower. The cost of the loan and the interest paid, however, will be significantly greater in this case. Therefore, if the chances of finding a well-paying job following the course are strong, choosing a shorter loan term is better.

 

1. Moratorium Periods: Moratorium periods are sabbaticals that typically last the length of the course plus an additional year or six months after finishing the course, whichever comes first. Students are not required to make loan payments during this time, although interest will continue to accrue. Students are permitted to pay down the interest during the moratorium period, which will lighten the burden of the loan and reduce the cost of the loan once they must begin making EMI payments.

 

2. Pay In Installments: Banks tack on interest on the amount of money sent. Typically, a student must pay for the course once per year or once per semester. Therefore, it would be wiser to apply for an education loan in the UK when needed. In this manner, substantially less interest will accrue. Make sure that the money is distributed as and when it is needed, rather than having it sanctioned in one lump sum.

 

3. Tax Benefits: Under Section 80E of the Income Tax Act, students can get tax benefits on the interest they pay on student loans. The loan must be obtained from an Indian scheduled bank or a gazetted financial institution in order to qualify for this deduction. Eight years is the maximum time for a tax deduction. Therefore, choosing a longer loan implies that students will only receive the tax deduction for the first eight years.


Why Choose UniCreds?


UniCreds, unlike any other platform, makes securing abroad education loan easy. Here are some of the reasons why receiving a student loan in the UK with UniCreds is the best choice -

 

1. Full financing (up to 100 %) for tuition and living expenses
2. No margin money
3. Immediate sanctions in the event of an emergency
4. Options for customised financing
5. Comparing education loans
6. Tracking of loan applications
7. Loans with no collateral
8. Doorstep delivery of services
9. Paperless approval of loans
 

Education Loan For UK Without Collateral


Every private bank and NBFC has a list of UK universities that are eligible for education loans without collateral. Although the procedure for obtaining a UK education loan without collateral in India for studies abroad is similar, the loan amount offered by various lenders varies based on where students intend to pursue their studies. The list of institutions that have been given the green light for a non-collateral education loan in the UK without collateral is shown below.

 

1. The University of Cambridge
2. The University of Oxford
3. UCL (University College London)
4. Imperial College London
5. The University of Edinburgh
6. The University of Warwick
7. London Business School
8. London School of Economics and Political Science Aside from the fact that the maximum amount of the non-collateral education loan in the UK has been increased to INR 40 Lakhs, the interest rates for the loan now start at 10.99%.
 

Partner Who Provide Education Loan For UK


There are various partners who provide education loans for the UK with and without collateral. The loan conditions and terms may differ depending on the lender and the type of education loan. International lenders offer unsecured loans only.

 

Education Loan In The UK - Without Collateral

 

FeaturesPrivate BanksNBFCs
Example LendersAxis Bank, ICICI, IDFC First BankAvanse, Incred, HDFC Credila, Auxilo
Processing Fees (INR)Up to 20 lakhs: Rs. 15000/- (refundable)
More than 20 lakhs: 0.75% of loan amount+GSTRs. + Property Evaluation charges

1-2% of the loan amount + Property Evaluation charges

 

Education Loan In The UK - Without Collateral

 

FeaturesPrivate BanksNBFCsInternational Lenders
Example LendersAxis Bank, ICICI, IDFCAvanse, Incred, HDFC Credila, AuxiloProdigy Finance
Processing Fees (INR)1-2% of the loan amount1.5-2% of the loan amount2-5% of the loan amount

 


Popular Courses To Study In the UK


The UK is a popular study abroad destination with top-ranked universities offering a wide range of courses. Opting for the best courses in the UK can not only improve your skills but also provide access to lucrative job opportunities. If you aim to pursue a successful career, it is essential to prioritize acquiring a reputed UK degree. For example, enrolling in a data science course, which is in high demand in the UK, can increase your chances of securing a well-paying job. There are several other sought-after courses in the UK that can propel your career towards the right path

 

  • Business Analytics
  • Data Science
  • Computer Science
  • MBA and MIM
  • MBBS
  • Finance, International Business and Accounting
  • Law
  • Architecture and Construction Management
  • Engineering
  • Fashion and Interior designing

Student Visa Requirements For the UK


The UK is a popular study abroad destination with top-ranked universities offering a wide range of courses. Opting for the best courses in the UK can not only improve your skills but also provide access to lucrative job opportunities.                                                               

If you aim to pursue a successful career, it is essential to know the visa requirements along with other eligibility requirements. Let us see the documents required for a UK student visa. 

 

Required Documents for UK Student VisaAdditional Documents (if applicable)

Current passport or valid travel documentation

  Not a citizen of the country you are applying from

Evidence of funds to cover living expenses for course duration

  Under 18 years of age

Confirmation of Acceptance for Studies (CAS) reference number and related documents

  Have dependents (family members)
Passport-sized color photographs 
Tuberculosis screening certificate (mandatory for South Asian countries) 
Assessment documentation 
Academic Technology Approval Scheme (ATAS) clearance certificate (if required) 
VisaVisa fee
Student visa                                 To apply for a student visa from outside the UK, a fee of £363 is required. Moreover, if you need to extend or change your student visa from inside the UK, you will have to pay a fee of £490

Evaluate your United Kingdom Education Loan Repayment.

Frequently Asked Questions

Banks are not restricted in how much money they can lend to students who desire to study overseas. From bank to bank, it varies. Almost all banks provide loans up to INR 20-30 lakhs. Additionally, the interest rate rises if the loan amount exceeds INR 20 lakhs.
In general, banks and NBFCs favour funding undergraduate and graduate education. Additionally, the vast majority of banks favour providing school loans for study abroad in professional and job-oriented fields.
The State Bank of India (SBI), Axis Bank, ICICI Bank, HDFC, and the Bank of Baroda are a few well-known institutions that offer education loans to students who desire to study overseas.
UK Unsecured education loans up to INR 4 lacs are available to students. Parents or guardians are made joint borrowers for loans up to INR 7.5 lacs, and a third-party guarantee is obtained. Property or any other asset must be pledged as security for loans that are more than INR 7.5 lacs.
The complete cost of studying abroad is covered by non-banking finance companies (NBFCs) and private banks. Public banks may, however, request that students self-finance 10 to 15% of the cost; the remainder will be covered by student loans.