| Interest Rate | Grace Period | Margin Money |
| 11.25% – 12.75% | Course Period + 1 Year | 15% |
Table of Contents:
- Yes Bank Abroad Education Loan
- Study Abroad with Yes Bank: Country-Wise Support
- Yes Bank Education Loan Interest Rate
- Documents Required for Yes Bank Abroad Education Loan
- Frequently Asked Questions
Studying abroad is one of the most valuable investments for a bright future. However, the cost of education can be overwhelming to manage alone. Yes Bank offers education loans for students pursuing studies in India and abroad. It offers flexible loan options, competitive interest rates, and quick application process.
Yes Bank Abroad Education Loan
Yes Bank offers study abroad education loans to students planning to study abroad, covering tuition fees, travel expenses, and living costs. The key features of Yes Bank abroad education loan are:
| Particulars | Details |
| Loan Amount | Up to INR 1.25 Crore |
| Repayment Period | Up to 15 Years |
| Processing Fee | Up to 2% of the Loan Amount |
| Tax Benefits | Under Section 80E of the Income Tax Act |
Eligibility |
|
Study Abroad with Yes Bank: Country-Wise Support
While planning to study abroad, financing your education is one of the most important steps. Here’s how Yes Bank supports country-wise education loans:
- Australia: Yes Bank for study in Australia offers education loans covering tuition fees, living expenses, and more. These loans can be paired with scholarships and grants for international students.
- Canada: Yes Bank for Study in Canada helps fund your education. You can also explore merit-based scholarships and need-based scholarships by Canadian universities.
- UK: Yes Bank to study in UK is a reliable option for financing your higher education, working well alongside popular scholarships like the Chevening Scholarships and Commonwealth Scholarships.
- US: Yes Bank for study in USA supports your study abroad journey with loans, funding options, that you can complement with grants and scholarships from universities and more.
Yes Bank Education Loan Interest Rate
Yes Bank offers education loans at competitive interest rates abroad to help students finance their studies. The interest rate varies based on the loan type, secured or unsecured. However, the applicant’s academic background, course of study, co-applicants’ financial profile, and credit score can also affect interest rates. Yes Bank education loan interest rates are 11.25%-12.75%, depending on the type of loan.
Documents Required for Yes Bank Abroad Education Loan
Before applying for a Yes Bank abroad education loan, ensure you have all the right documents. The documents required are:
| Documents | Details |
Proof of Identity |
|
Proof of Address |
|
Academic Records |
|
| Proof of Admission | University Admission Letter |
Financial Statements |
|
Co-Applicant / Guarantor (If applicable) |
|
Frequently Asked Questions
Who is eligible for a Yes Bank abroad education loan?
The student must be an Indian citizen and have secured admission to a recognized institution abroad. The student must have passed 10+2 or Graduation (whichever is applicable) and must have a co-signer / guarantor (if required).
Is there any processing fee for a Yes Bank abroad education loan?
Yes, the Bank charges 2% of the loan amount for education loans above INR 7.5 lakhs. There is no processing fee if the loan amount is below INR 7.5 lakhs.
When do I start repaying the Yes Bank abroad education loan?
Yes Bank gives you a 12-month moratorium after you complete your course. After the moratorium period, you can repay your loan for up to 15 years.
Does Yes Bank offer tax benefits on abroad education loans?
Under Section 80 (E) of the Income Tax Act, the borrower can claim a tax deduction on their abroad education loan.
How do I fill out the Yes Bank education loan online?
To complete the Yes Bank education loan application, apply online or visit the nearest Yes Bank branch. For a hassle-free application process and expert guidance, you can also seek assistance from Nomad Credit for free.
What is the interest rate for an education loan from Yes Bank for study in Australia?
Yes Bank offers education loans for studying in Australia, with interest rates typically ranging from 11.25%-12.75%. However, the interest rate may vary based on the applicant’s profile, loan amount, and more.
What is the repayment tenure for an education loan from Yes Bank for study in Canada?
Yes Bank offers a repayment tenure of 15 years for an education loan to study in Canada. The repayment tenure starts after the moratorium period, which includes the course period + 1 year.
What costs are included in the education loan from Yes Bank to study in UK?
Yes Bank education loan to study in UK covers costs such as tuition fees, accommodation, living expenses, travel expenses, insurance, and visa charges.
Does Yes Bank offer an education loan for studying in the USA?
Yes, education loans are provided by Yes Bank for study in USA. The banks offer both secured and unsecured loan options, with loan amounts varying based on the student’s profile.
