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Education Loan to Study in the UK
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Get an Education Loan for Higher Studies in the UK
Studying in the UK is an exciting journey, and Credila is here to help every step of the way. Our education loan for the UK covers your tuition fees, living costs, travel, and more. With easy repayment plans and competitive interest rates, Credila makes studying at top UK universities simple. Apply today and follow your dreams while we handle your finances!
Eligibility Criteria for Education Loan in the UK
Who Can Apply
- Students admitted to recognised institutions
- parents/guardians must be co-applicants
- working professionals can apply for higher studies
Age & Academics
No age limit, but admission to an eligible course is mandatory.
Academic Qualifications
Must have completed 12th grade and be eligible for UG, PG, or diploma programs
Eligible Courses
Covers MBA, MBBS, Engineering, Law, etc., in India and all accredited international programs.
Eligible Institutions
Includes UGC/AICTE/MCI-approved institutes in India and accredited foreign universities.
Eligible Countries
Loans are available for all countries (except war zones) with recognised universities.
Other Considerations
Academic scores and a financially strong co-applicant boost approval; pre-visa disbursement is available for international students.
Documents Required for an Education Loan for the UK
Documents required for an education loan application vary based on the borrower’s profile and the type of education loan the borrower applies for.
| Particulars | Photo ID | Residence Proof | Signature Verification |
|---|---|---|---|
| PAN Card |  | | |
| Valid Passport | | | |
| Voter Identity Card | | | |
| Driving License | | ||
Aadhaar Card  | | ||
| ID Card | | ||
| Bank Statement / Passbook | | ||
| Telephone Bill | | ||
| Utility Bill | |
- Marksheet or Certificate for Grade 12 or equivalent.
- Marksheet or Certificate for the last semester/year/degree (e.g. B.E., B.Com., B.Sc. etc.).
- Scholarship Documents (if applicable).
- Salaried
- Latest 3 Salary Slips or Salary Certificate on employer’s letterhead.
- Latest one year’s Form 16 from the employer along with one year’s Income Tax Returns.
- Any other income proof that is not reflected in the above documents, viz., Rent Agreement etc.
- Self-Employed Professional
- Latest two years’ Income Tax Returns with I.T. acknowledgement.
- Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.
- 3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh* .
Additional DocumentsIn addition to the above, the following documents are to be submitted- Proof of Establishment of the Firm (Shop Act, TIN No, Service Tax registration copy, SSI Certificate etc.).
- Copy of qualification or degree certificate.
- Self-Employed Non-Professional
- Latest two years’ Income Tax Returns with I.T. acknowledgement.
- Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.
- 3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh* .
Additional DocumentsIn addition to the above, the following documents are to be submitted- For Proprietors: Proof of Establishment of the Firm (Shop Act, TIN No, Service Tax Registration Copy, SSI Certificate etc.)
- Partnership: Copy of Partnership deed.
- Private Company: Articles of Association (AoA), Memorandum of Association (MoA) and Shareholding Pattern Certified by the C.A.
- Salaried
- Latest six months Bank Statements are required where your salary is credited every month.
- Self-Employed Professional / Proprietorship/ Partnership / Private Limited Company
- Latest 8-month Current Account Bank Statement of the Bank Account where business receipts are credited every month.
- Latest eight months Saving Account Bank Statements.
- Any document to establish the relationship between the student and co-applicant, viz., Ration card, Marriage Certificate, Birth Certificate, School Leaving Certificate, etc
- Account Statement for loans or credit cards that had delays in payment (as proof of clarification).
- For students with past work experience, the last drawn salary slip.
- Proof of balance funds.
- Notes
- The audit report, duly signed and verified by the Chartered Accountant, must be given in such form, setting forth such particulars as prescribed by the Board. Rule 6G of the I.T. Act provides that such audit reports and particulars should be given in Forms No. 3CA/3CB as applicable, and the statement of particulars should be given in Form No. 3CD.
- For Salaried/SEP/SENP Co-applicant: Saving Bank statement should be up to 15 days before the login date.
- For Self Employed Professional/Non-Processional Co-applicant: Current/O.D. bank statement should be up to 30 days before the login date.
- Copy of PAN Card or Passport is compulsory for all Income Earning/Retired Co-applicants.
we will be happy to assist you further
Interest Rates on Study Loans for the UK
| Feature | Details |
|---|---|
| Interest Rate (Floating) | 10.25% onwards |
| Processing Fees | 1.25% + GST |
| Prepayment & Foreclosure Charges | None |
How to Apply for a Student Loan in the UK
Applying for an education loan with Credila is quick and hassle-free. Follow these simple steps:
1- Apply Online & Get a Quick Call
Submit your application in minutes; our team will contact you within 30 minutes.
2- Home Visit & Fast Approval
Complete the formalities and receive the loan amount directly in your bank account.
3- Sign & Get Funds Disbursed
You are all set to get started.
Expenses Covered in Education Loan UK
Once your education loan is approved, you have the flexibility to withdraw the entire sanctioned amount at once or in instalments, depending on your needs. Opting for partial disbursement is recommended, as interest is charged only on the amount disbursed rather than the full approved sum. This approach can help you manage interest costs more efficiently, especially if you're taking a loan without collateral.
Education loans for studying in the UK typically cover the following essential expenses:
- Tuition fees
- Accommodation cost
- Food and groceries
- Utility bills
- Health insurance
- Visa fees
- Expenses related to studies (lab fees, instruments, and more)
Your Application Journey
We recommend that students secure their education financing as early as possible. Doing so not only helps avoid cramming and surprises at the last minute but also helps you focus on your college applications.
Repayment of Education Loan to Study in UK
- Repayment usually starts after the course completion plus a grace period of 6 months to 1 year.
- Options include EMI-based payments or step-up repayment plans.
- Loan tenure ranges from 5 to 15 years, depending on the policies.
- Interest paid on the education loan is eligible for tax benefits under Section 80E of the Income Tax Act (under the old tax regime).
- Prepayment options are available with no extra charges.
Features and Benefits Of Education Loan
- Save time. Go online.
- We cover it all
- Start with a secured future
- Better rates. All the way.
- Dream big. Achieve bigger.
- Pan-India network of branches
- The benefit of tax saving
- Flexible payment plans
- No hidden charges
Customer-centric processes with just 3 steps to disbursement.
Up to 100% financing of tuition and cost-of-living.
Benefit from seamless loan sanctions.
Student loans with customised interest rates.
Need a loan of INR 1 crore or more? Not a problem.
Enjoy multi-city co-borrower(s) and collateral flexibility.
Added tax deductions that bring down your cost of financing.
Repayment tenure of up to 15 years.
What you see is what you pay.
Save time. Go online.
Customer-centric processes with just 3 steps to disbursement.
We cover it all
Up to 100% financing of tuition and cost-of-living.
Start with a secured future
Benefit from seamless loan sanctions.
Better rates. All the way.
Student loans with customised interest rates.
Dream big. Achieve bigger.
Need a loan of INR 1 crore or more? Not a problem.
Pan-India network of branches
Enjoy multi-city co-borrower(s) and collateral flexibility.
The benefit of tax saving
Added tax deductions that bring down your cost of financing.
Flexible payment plans
Repayment tenure of up to 15 years.
No hidden charges
What you see is what you pay.
Blogs on Study Loan
FAQs on UK Education Loan
Our Students Success Stories
Anmol Agarwal
International University of Applied Sciences (IUBH)
Berlin, Germany
I must also commend the relationship managers, who were an integral part of my positive experience. Their dedication is a testament to Credila's commitment to excellence in customer service. Their support played a crucial role in making my educational journey smooth and successful, and I'm immensely grateful for their exceptional service."
Ameya Shahu
Arizona State University
Arizona
Abhinav Kshitij
University of Oxford
