Smarter Funding for Overseas Education

InCred Education Loan For Study Abroad

Studying abroad takes more than just a dream. It takes a loan that works as hard as you do.
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Quick Loan Review
Max Loan Amount
Up to INR 85 Lakhs
Interest Rate
Starting from 11% per annum
Repayment Tenure
Up to 15 Years
Origination Fee
1.25%* + GST
Countries Covered
USA, UK, Canada & 13 more
Processing Time
7 to 15 working days

Overview - Credila Education Loan

The InCred Education Loan for study abroad is designed for Indian students who want to pursue higher education at recognized universities worldwide without financial constraints standing in the way of their ambitions.

InCred Financial Services is an RBI-registered Non-Banking Financial Company (NBFC) that was founded in 2016.

Benefits of Choosing the InCred Study Abroad Loan

InCred Financial Services is an RBI-registered Non-Banking Financial Company (NBFC) that was founded in 2016.

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Key Features of the InCred Overseas Education Loan

Here is what sets InCred’s abroad education loan apart from other Indian NBFC lenders.

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Eligibility Criteria for InCred Loan for Study Abroad

Understanding eligibility for an education loan to study in the USA or any other destination is the first step before you apply. InCred follows a transparent eligibility framework across three dimensions.

Category Details
Student Eligibility
  • - Indian citizen, 18 years or above at the time of application
  • - Confirmed admission from an InCred-recognized university abroad
  • - Strong academic record with valid standardized test scores (GRE, GMAT, IELTS, TOEFL) where applicable
  • - Eligible programs include undergraduate, postgraduate, diploma, professional, and doctoral degrees
Co Applicant Eligibility
  • - An earning Indian co-borrower is mandatory for most loan applications
  • - Accepted relationships include parent, sibling, spouse, parent-in-law, or close relative
  • - Must hold an active Indian bank account with cheque writing facility
  • - Co-borrower's income and creditworthiness are assessed as part of the loan decision
  • - Multiple co-applicants are accepted where the primary co-applicant's income does not meet the threshold independently
Course and University Criteria
  • - Graduation, post-graduation, diploma, and professional degrees at universities recognized by InCred
  • - Management, engineering, medicine, law, and science programs are all covered
  • - Vocational and executive programs may qualify under specific conditions subject to lender review
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Get Your Education Loan Today!

Explore the best loan options, check your eligibility in 2 minutes, and review financing options suited to your needs

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Expenses Covered Under the InCred Study Abroad Loan

The study abroad education loan from Credila is designed to cover the comprehensive costs of studying internationally, not just tuition. Here is a breakdown of the expenses funded under this loan.

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Get Your Education Loan Today!

Explore the best loan options, check your eligibility in 2 minutes, and review financing options suited to your needs

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Documents Required for InCred Education Loan

Having your documents ready before applying significantly reduces processing time. Below is the complete document checklist for an InCred Foreign Education Loan for USA or any other covered destination.

Student Documents
  • Valid passport
  • Aadhaar Card, Voter ID, or Driving License as identity and address proof
  • Admission letter from a recognised foreign institution
  • Academic transcripts, mark sheets, and degree certificates
  • Updated CV or resume (for postgraduate applicants)
  • GRE, GMAT, IELTS, or TOEFL scorecards where applicable
  • PAN Card or Form 60
Co-Applicant Documents
  • PAN Card and a valid OVD for identity and address proof
  • Salary slips for the last 3 months, Form 16, or ITR for the last 2–3 years
  • Bank statements for the last 6 months
  • Utility bills (under 2 months old), property tax receipts, or pension orders
Loan & University Documents
  • Detailed fee structure and admission confirmation from the university
  • Course details, including programme name, duration, and semester structure
  • Post-dated cheques (PDCs) for EMI payments
  • Any additional documents requested during the verification process

How to Apply for an InCred Education Loan via Nomad Credit

Your path to an education loan: fast, easy, and fully guided.

Step 1: Check Your Loan Eligibility

Use our free tool to quickly check your eligibility and view personalized loan options.

Step 2: Connect with a Loan Expert

Our dedicated loan counselors are ready to guide you through the process and answer all your questions.

Step 3: Submit Your Documents

Easily upload your documents and complete the required forms to kickstart your application.

Step 4: Get a custom Offer

Our team works hard to help you secure the best interest rates and maximize your loan amount.

Step 5: Loan Approval and Disbursement

Once approved, you’ll get your sanction letter and the lender will disburse your funds promptly.

InCred Education Loan Countries and Destinations

The InCred Overseas Education Loan currently supports Indian students heading to the following countries:

  • USA
  • UK
  • Canada
  • Australia
  • Germany
  • France 
  • Ireland
  • New Zealand
  • Netherlands
  • Singapore
  • UAE 
  • Sweden
  • Denmark

Why Apply for an InCred Loan via Nomad Credit?

Applying for your InCred Study Abroad Loan through Nomad Credit gives you more than just a single lender offer. Here is how we add value at every step of the process.

Compare 20+ lenders to find the best-fit option

End-to-end document help for a smooth application

Faster processing with dedicated support

Better interest rates through expert negotiation

Admissions + loan support in one place

100% free service with zero charges

Disclaimer: Terms and conditions of loans provided by lenders, including interest rates and eligibility requirements, are subject to change based on the borrower’s profile, educational institution, and country of study. The interest rates mentioned are indicative and subject to InCred Financial Services’ current benchmark lending rate and the applicable spread. Terms and conditions set by lenders are final and determined independently of Nomad Credit.

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Frequently Asked Questions

What is the InCred education loan interest rate for study abroad?

The InCred education loan interest rate starts at approximately 11% per annum and typically ranges between 11% and 14% depending on your academic profile, university ranking, chosen country, and co applicant's financial strength. The rate is floating and linked to InCred's internal benchmark rate plus an applicable spread.

Students can access up to INR 75 Lakhs through an unsecured loan and up to INR 1.5 Crore through a secured loan backed by property or fixed deposit collateral. For USA bound students specifically, the unsecured limit can go up to INR 75 Lakhs subject to university ranking and academic profile. Country specific caps may apply and are determined at the time of credit assessment.

Yes. InCred offers collateral free USA Overseas Education Loan options for eligible students heading to recognised universities, particularly in the USA, UK, Canada, and Australia. Collateral may be required for higher loan amounts, lower academic scores, or profiles that do not meet the unsecured threshold. The decision is made through InCred's multi factor credit evaluation.

Yes. The InCred Study Abroad Loan requires a co borrower who is an earning Indian citizen. This co borrower can be a parent, sibling, spouse, or close relative. InCred accepts multiple co applicants where the primary co applicant's income alone does not satisfy the repayment capacity requirement.

The repayment tenure is up to 10 years for unsecured loans and up to 12 years for secured loans. Repayment of the principal begins after the moratorium period, which covers the course duration plus 6 to 12 months post completion or after the student secures employment, whichever comes first. Simple interest payments may be required during the study period.

For students applying for an education loan for masters in USA through InCred, the interest rate follows the same floating rate structure of approximately 11% to 14% per annum. GRE and GMAT scores are taken into account during the credit assessment for USA bound applicants and can positively influence the final rate offered.

The typical processing time for an InCred Overseas Education Loan is 5 to 7 working days from the date of complete document submission. The sanction letter is generally issued within 24 to 48 hours of the processing fee payment and successful document verification.

As an NBFC, InCred education loans are generally not eligible for tax deduction benefits under Section 80E of the Income Tax Act, which applies only to loans taken from scheduled banks and specified financial institutions. Students and families are advised to confirm this with a qualified tax advisor before applying.

Study Abroad Expert
Updated on: 18 May 2026
Reviewed by:
8 min read
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