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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.
InCred Financial Services is an RBI-registered Non-Banking Financial Company (NBFC) that was founded in 2016.
Here is what sets InCred’s abroad education loan apart from other Indian NBFC lenders.
Helping students worldwide choose top universities and secure their dream admits.
Trusted by students in 9+ countries to secure funds for their dreams
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.
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| Co Applicant Eligibility |
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| Course and University Criteria |
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Explore the best loan options, check your eligibility in 2 minutes, and review financing options suited to your needs
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.
Explore the best loan options, check your eligibility in 2 minutes, and review financing options suited to your needs
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.
Your path to an education loan: fast, easy, and fully guided.
Use our free tool to quickly check your eligibility and view personalized loan options.
Our dedicated loan counselors are ready to guide you through the process and answer all your questions.
Easily upload your documents and complete the required forms to kickstart your application.
Our team works hard to help you secure the best interest rates and maximize your loan amount.
Once approved, you’ll get your sanction letter and the lender will disburse your funds promptly.
The InCred Overseas Education Loan currently supports Indian students heading to the following countries:
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.
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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.
As I was heading for MBA at Columbia, I got in touch with Nomad team regarding the financing. They were super helpful and always approachable. This involved sitting with me on calls as I fill forms, helping with US cosigner doubts, helping me process all the applications. I highly recommend them!!
I’m really grateful to Nomad team for all the help and support. From the very first step, they were always just a call away. Thanks to them, the whole process felt so much smoother and less stressful. I’d happily recommend them. They truly go above and beyond for the people they works with!
I got in touch with Anchal regarding financing options as I head for an MBA at Stanford. She helped me get to know about all the available options with utmost patience. In the end, I was able to get a highly competitive interest rate with her help, which turned out to be the best option available in the market!
Ganesh was my case manager at Nomad Credit. He helped me secure 2 student loans, 1 for each year of my MBA at UCLA Anderson. It is not always straight forward for international students to get student loans in the US, but Ganesh walked me through the whole process step by step, making it as stress free as possible. Highly recommended!
Nomad Team helped me get the best possible option for my financing needs. They made sure that I got the most updated and consistent information to make the right decision towards the most important aspect of my studies i.e. money management. They were always there to help me and have a great attitude towards helping others.
Working with your team was an incredibly smooth and reassuring experience. A special shoutout to Karan and Deepesh, who truly went above and beyond at every stage and making sure everything was on track despite tight timelines. I’m genuinely grateful to have had such a supportive team by my side, I couldn’t have done it without you!
Since, I was doing this for the first time, I had a lot of questions. The team very patiently answered all my queries and consistently supported me from filling-up my application to document verification until I had received my loan confirmation. Overall, I really appreciate Nomad’s help in navigating me through my loan application process.
Your unwavering support, particularly in navigating the challenge of securing a loan without collateral, has been truly remarkable. Special thanks to Shweta ma’am. Your service and commitment to helping students like me achieve their dreams have made a profound impact, and for that, I am deeply thankful.
I’m incredibly grateful to Poonam and the entire Nomad Team for their outstanding support throughout. Their guidance was clear, timely, and tailored to my specific needs. I highly recommend them to anyone pursuing international education. They’re knowledgeable, professional, and genuinely invested in your success.
Thanks Sulekha & Nomad Credit for assisting me throughout. You also helped me boost my confidence personally in the entire process. I am grateful, you were there to resolve my every doubt regarding visa interview questions and any query I had. At the end, thanks once again for helping me achieve F-1 visa for the USA.
Your exceptional guidance made my master’s application process smooth and stress-free. You were always available and willing to answer my queries with patience and clarity. I highly recommend Nomad to anyone seeking professional guidance for their higher education journey.
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.
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