Education Loan to Study Master's in the UK
Flexible Repayment Options
Up to 100% Finance
Tax Benefits Under Section 129*
0% TCS** on Remittances AbroadFlexible Repayment Options*T&C Apply. Deduction under Section 129 of the Income Tax Act, 2025 (erstwhile Section 80E of the Income Tax Act, 1961) is available only under the old tax regime and shall not be applicable if the taxpayer opts for the new tax regime. Customers are advised to consult their tax advisors for applicability.
T&C Apply. Deduction under Section 129 of the Income Tax Act, 2025 (erstwhile Section 80E of the Income Tax Act, 1961) is available only under the old tax regime and shall not be applicable if the taxpayer opts for the new tax regime. Customers are advised to consult their tax advisors for applicability.
Dreaming of a master’s degree in the UK but unsure how to manage the costs? An education loan can bridge the gap between your ambition and your finances, covering tuition fees, living expenses, and other essential costs. With flexible repayment plans and competitive interest rates, education loans abroad make it more accessible, allowing you to focus on your studies and future career. It’s a smart step towards achieving your academic and professional goals without financial stress.
Why Pursue a Master’s in the UK?
- The UK is home to globally recognised universities, including the University of Oxford, University of Cambridge, Imperial College London, and University College London (UCL).
- It offers a well-established higher education system with a wide range of master's programmes across diverse disciplines.
- The UK is a popular study destination for international students, offering a multicultural learning environment and globally recognised qualifications.
- Many universities provide opportunities for research, industry engagement, and practical learning as part of selected master's programmes.
Check Your Loan Eligibility for
a Master's in the UK
Types of Master’s Degrees in the UK
| Type of Master’s | Description | Examples |
|---|---|---|
| Taught Master’s | Delivered through lectures, seminars, and coursework, usually including a dissertation or major project. | MSc, MA, MEng, MBA |
| Research Master’s | Focused on independent research under academic supervision, often a pathway to a PhD. | MRes, MPhil |
List of Master’s Courses for Indian Students in the UK
- MSc in Management
- Master’s in Public Health
- MSc in Computer Science
- Master’s in Psychology
- MSc in Marketing
- MSc in Physiotherapy
- MSc in Nursing
- MSc in Biotechnology
- MSc in International Business
- Master’s in Architecture
Universities for Master’s in the UK
| University | Highlights & Notes |
|---|---|
| Oxford University | Renowned for world-class research and teaching; offers globally recognised one-year master’s programmes. |
| University of Cambridge | Leading research-focused institution with extensive postgraduate network and innovation-driven teaching. |
| Imperial College London | Specialises in science, engineering, medicine, and business with strong industry partnerships. |
| University College London (UCL) | Known for research-led teaching across multiple disciplines and a highly diverse global student community. |
| University of Edinburgh | Historic university with a strong reputation for innovation and interdisciplinary research. |
| University of Manchester | Russell Group member with strong links to global industries and research hubs. |
| King’s College London | Offers a wide range of programmes in health sciences, law, humanities, and social sciences. |
| London School of Economics (LSE) | Globally renowned for economics, politics, and social sciences. |
| University of Warwick | Recognised for business, engineering, and social sciences with a strong research focus. |
| University of Bristol | Known for cutting-edge research and interdisciplinary opportunities. |
Source: https://www.idp.com/india/study-in-uk/masters/
Types of Education Loans for Masters Students Abroad
Broadly, there are two main types of education loans:
- Secured Education Loan: A secured education loan is backed by collateral, such as a residential property, commercial property, NA plots, fixed deposits, or insurance policies. This collateral serves as a guarantee for the lender in case the borrower defaults.
- Unsecured Education Loan: An unsecured education loan is a type of student loan that does not require any collateral or security. Approval is based on the borrower’s financial profile.
Eligibility Criteria for an Education Loan in the UK
To qualify for a student loan in the UK, here are the general eligibility criteria:
- Applicant Age: 16 years or above
- Co-Applicant: Generally required; can be a parent, spouse, or guardian
- Eligible Students: Those enrolling in bachelor’s or master’s programmes
- Approved Courses: Academic or professional programmes (MBA, MS, MBBS, etc.)
- Recognised Institutions: Universities and colleges accredited in the UK
Documents Required for an Education Loan for Masters Oversees
To apply for an education loan, here’s a checklist of documents you’ll need. Requirements vary slightly based on your co-applicant’s income type.
| Document Type | Details |
|---|---|
| A. Application Form | Completed original or digital loan application form |
| B. KYC Documents | PAN Card or Form 60 (mandatory if PAN is mentioned) ONE valid ID & address proof: Passport / Driving License / Voter ID / Aadhaar / NREGA Job Card / NPR Letter |
| C. Student Education Documents | 12th Marksheet (not needed for UG applicants in 12th or Exec PG) Latest semester/year marksheet or transcript Admission proof (Admission Letter / I-20) |
| D. Co-Applicant Financials | |
| → Salaried | Last 6 months' salary account bank statements 1 recent salary slip/certificate |
| → Self-Employed (Non-Proprietor) | Last 6 months Current & Savings A/c bank statements Last 2 years ITRs (online acceptable) 44AD: income statement only Tax audit: CA attestation required Optional: Qualification proof, GST/Shop Act/Aadhaar Udyog |
| → Proprietor | Last 6 months Current & Savings A/c bank statements Last 2 years ITRs 44AD: income statement only Tax audit: CA-audited financials (P&L, BS, Computation, Schedules) |
| → No Income | Last 6 months Savings A/c bank statements |
| → Pensioner | Last 6 months Savings A/c with pension credits OR Pension Order |
| E. Collateral Documents (if applicable) | Latest sale deed Property tax receipt Approved building plan or Occupation Certificate |
Interest Rates on Education Loans for Studying Masters Abroad
Get the funds you need for your education abroad with competitive interest rates and zero prepayment or foreclosure charges!
| Feature | Details |
|---|---|
| Interest Rate (Floating) | 9.95%* p.a. onwards |
| Origination Fee | 1.25%* + GST |
| Prepayment & Foreclosure Charges | None |
How to Apply for an Education Loan to Study Master's Abroad
Follow this 3-step process
1- Apply Online
Fill out the application form and upload documents.
2- Application Review
Get your sanction letter after our credit appraisal.
3- Funds Disbursed
You are all set to get started.
Expenses Covered Under Student Loan for Masters Abroad
When you take an education loan for studying Masters overseas, the following expenses are typically covered:
- Tuition fees and academic charges
- Hostel or on-campus accommodation
- Cost of living (food, transport, utilities, etc.)
- Books, lab supplies, and other learning materials
- Laptop or computer (if required for coursework)
- Examination and library fees
- Other education-related expenses as approved by the Credila
Repayment Options for Overseas Masters Loan for Student
Repayment for MS education loans is designed to be student-friendly and flexible:
- EMI-Based Repayment: Start paying EMIs after the moratorium ends.
- Part-Payment Option: Make partial payments during the course to reduce the total interest.
- Flexible Tenure: Repayment tenure of up to 15 years based on your profile.
- No Prepayment Penalty: You can repay early without any additional charges.
Why Avail Credila’s Education Loan for Masters Abroad?
Save time. Go online.
Customer-centric processes with just 3 steps to disbursement.
We cover it all
Up to 100% financing of tuition and living expenses.
Start early. Apply before admission.
Benefit from seamless loan sanctions.
Friendly rates. All the way.
Student loans with customised interest rates.
Dream big. Achieve bigger.
Exploring funding for larger education costs? 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.
Disclaimer: Deduction under Section 129 of the Income Tax Act, 2025 (erstwhile Section 80E of the Income Tax Act, 1961) is available only under the old tax regime and shall not be applicable if the taxpayer opts for the new tax regime. Customers are advised to consult their tax advisors for applicability.
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