Easy way to find your
Loan Provider in United Kingdom

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Processing Fee 1.1% - 1.5%

Prepayment Charges Nil

Living Cost Yes

Unsecured Loan Upto ₹75 L

Margin Nil

Loan Tenure Upto 10 Years

Early Repayment Yes

Secured LoanUpto ₹100 L

Processing Fee 1.0%

Prepayment Charges Nil

Living Cost No

Unsecured Loan Upto ₹40 L

Margin Nil

Loan Tenure Upto 12 Years

Early Repayment No

Processing Fee 0.38% - 0.75%

Prepayment Charges Nil

Living Cost No

Unsecured Loan Upto ₹40 L

Margin Nil

Loan Tenure Upto 10 Years

Early Repayment Yes

Processing Fee 2.5% - 4.0%

Prepayment Charges Nil

Living Cost No

Margin Nil

Loan Tenure Upto 20 Years

Early Repayment No

Processing Fee 1.0% - 1.2%

Prepayment Charges Nil

Living Cost Yes

Margin Nil

Loan Tenure Upto 14 Years

Early Repayment Yes

Secured LoanUpto ₹100 L

Processing Fee 1.0% - 2.0%

Prepayment Charges 5.0%

Living Cost Yes

Unsecured Loan Upto ₹40 L

Margin Nil

Loan Tenure Upto 10 Years

Early Repayment Yes

Secured LoanUpto ₹100 L

Processing Fee 1.0% - 1.25%

Prepayment Charges Nil

Living Cost No

Unsecured Loan Upto ₹50 L

Margin Nil

Loan Tenure Upto 15 Years

Early Repayment No

Processing Fee ₹11800

Prepayment Charges Nil

Living Cost No

Margin Nil

Loan Tenure Upto 15 Years

Early Repayment Yes

Why choose UniCreds for your Education Loan to Study in the UK?

The UK is one of the world’s most famous destinations to get an education abroad. It has countless high education institutions, and almost every single one of them has opportunities for international students to study there. You can choose from a variety of different undergraduate and graduate degrees, and combine your courses in order to make a degree program that suits your needs and interests. Also, the UK education system is flexible, so you can study in a way that suits your lifestyle and career aspirations. When you study in the UK you meet people from different nationalities, sharing their backgrounds and discovering new perspectives

Why choose UniCreds for an education loan in the UK?

UniCreds offers simplicity in acquiring education loans, unlike any other platform. Here are just a few benefits offered by UniCreds -

  • Total Funding For Your Overseas Education - With UniCreds, students can expect up to 100% funding that covers tuition costs and living expenses.
  • No Margin Money - Get education loans that cover 100% of your expenses.
  • Quick Sanctions - For urgent cases, students can reach out to us with their specific requirements, and we will get your loan sanctioned immediately.
  • Customised Financing Options - Get flexible repayment options related to tenure, prepayment, moratorium period and much more.
  • Education Loan Comparison - Compare education loans of all the leading banks and NBFCs in the country.
  • Loan Application Tracker - Get step-by-step notifications regarding the status of their loan application.
  • Free Of Cost Service - All services of UniCreds are completely free of charge.
  • Transparent Information and Hassle-Free Service - Get all the details regarding education loans on the UniCreds website.
  • Smarter and Safer Option - UniCreds has a host of different tools that will help you make smarter decisions about your overseas education.
  • Door Step Service - Avail the Door Step Service to have someone collect documents and submit them to the banks on your behalf.
  • Collateral Free Loans - Now get collateral-free education loans for your overseas studies.
  • Paperless Loan Approvals - Digitize your entire loan application process with UniCreds and save yourself countless trips to the bank. Apply today for an education loan through UniCreds partners.

What are the benefits of having a study loan in the UK ?

In recent years, the cost of college has been rising rapidly and students often struggle to fund their overseas education all on their own. On average, students are graduating with $132,860 (£101,505) worth of debt. This is a sizable amount to pay off for someone who's just about to start their career. Here’s where an education loan comes in. An education loan is the most trusted source of finance for university students. With UniCreds, students can expect up to 100% financing that covers their tuition and living expenses. Moreover, interest paid on education loans from UniCreds is fully eligible for deduction under Section 80E of the Income Tax Act, 1961. This will help ease the financial burden of studying abroad in the UK.

What does a student loan UK cover?

An education loan can cover all your educational expenses that include your tuition fees, on-site or off-site accommodation, transportation costs, books, library fees, courseware, and other miscellaneous expenses.

What are some tips on choosing the best education loan?

There are hundreds of lenders offering a variety of education loans to study abroad. Finding the perfect education from hundreds of options can be like finding a needle in a haystack. This is why you should start your research much in advance so that you have the time to check out all the options in the market. Apart from this, here are some other parameters that you should consider while choosing your education loan:

  • Determine your loan amount. - It is crucial to determine the loan amount before you start your education loan application process. You need to figure out if you want a loan that covers your entire cost of education or a loan that covers just some of the amount, while you pay the rest from your own pocket.
  • Research on interest rates. - Lenders often charge different rates of interest based on your profile, loan tenure, collateral and other factors. Finding an education loan with the least rate of interest may not always be the best option for you. So research well on interest rates and the other terms and conditions applicable to the education loan.
  • Opt for a longer tenure. - By opting for a long repayment tenure, you are essentially spreading out the EMIs over a longer duration. This will significantly help you in repaying the loan in a stress-free manner. However, if you have sufficient funds, going for a loan with a shorter tenure is also a wise move as it helps you in saving a lot of money.
  • Approach certified banks. - Education loans come with income tax benefits if availed from a government recognised bank. Applicants can claim a deduction on the interest paid on an education loan from a bank under Section 80E of the Income Tax Act.
  • Keep a track of miscellaneous expense. - The cost of tuition will form a major chunk of your educational expenses. But apart from this, miscellaneous expenses like on-site or off-site accommodation, transportation costs, books, library fees and courseware can collectively be very expensive. Consider the cost of these miscellaneous expenses while determining your education loan amount.

How to get an education loan without and with collateral?

Getting an education loan without collateral depends on several factors like loan amount, student’s profile, university, etc. However, if students wish to take an education loan to the UK with collateral, they enjoy lower interest rates. This is because the borrower offers security to the bank (if they fail to repay the loan), the risk that the bank takes is moderate.

Here are some education loan with collateral for the UK -

Bank TypeLenderLoan AmountProcessing FeePayment During Study Period
Public BanksState Bank of India, BOBUp to 1.5 CrRs. 10,000/- + GST + Property Evaluation chargesNo payment
Private BanksAxis Bank, ICICI BankUp to INR 50 LakhsUpto 20 lakhs: Rs. 15000/- (refundable).More than 20 lakhs: Rs. 750/- on every lakh.Above 20 lakhs + + Property Evaluation charges.Simple Interest
NBFCsAvanse, Incred, HDFC CredilaUp to INR 50 Lakhs1-2% of the loan amount + property evaluation chargesSimple interest

Here are some education loan without collateral for the UK -

Bank TypeLenderLoan AmountProcessing FeePayment During Study Period
Public BanksState Bank of India, BOBUp to 1.5 CrRs. 10,000/- + GST + Property Evaluation chargesNo payment
Private BanksAxis Bank, ICICI BankUp to INR 50 LakhsUpto 20 lakhs: Rs. 15000/- (refundable).More than 20 lakhs: Rs. 750/- on every lakh.Above 20 lakhs + + Property Evaluation charges.Simple Interest
NBFCsAvanse, Incred, HDFC CredilaUp to INR 50 Lakhs1-2% of the loan amount + property evaluation chargesSimple interest

What is the usual interest rate on an education loan to the UK?

The general rate of interest on an educational loan to the UK ranges between 8.85% to 16%. The exact rate of interest depends on the student’s profile.

Frequently asked questions for student loan in the UK

How do I get a student loan in the UK?
Students can directly apply with the lender for an education loan. However, the process is distraught with numerous hurdles and is tedious too. Students who need to ignore the pitfalls associated with applying directly can always take the help from UniCreds and get their student UK loan sanctioned.