Get a Quick Education Loan Online for Studying in Australia
Studying in Australia offers world-class education and cultural experiences. With Poonawalla Fincorp’s Education Loan, you can fund your studies at top institutions like the University of Queensland and the University of Western Australia. Our loan covers tuition, accommodation, and living expenses, with a 100% digital process, minimal paperwork, and flexible repayment options. Apply now for a quick, hassle-free Education Loan! Apply now!
Education Loan for Studying in Australia: EMI Calculator
Use our online EMI calculator to estimate monthly payments by entering your loan amount, tenure, and interest rate. This tool helps you make an informed decision, ensuring your Education Loan to study in Australia aligns with your future repayment capacity
Why Choose Poonawalla Fincorp
Apply for an Education Loan for Studying in Australia
Click on “Apply Now”
Fill out the online form to start your loan application.
Enter Details
Enter your DOB, PAN card number, monthly income, and residential details.
Upload Documents
Upload the necessary documents for quicker approval.
On successful verification, the loan amount will be disbursed into your bank account instantly.
Get exclusive offers thoughtfully customised just for you
Securing an Education Loan to study in Australia starts with meeting basic criteria designed for Indian students.
Age:
- Applicant: Between 16 and 50 years
- Financial Co-applicant:
- Salaried: 21 to 60 years
- Self-employed: 21 to 65 years
- Non-financial Co-applicant: 21 to 80 years
Citizenship: Indian, OCI (Overseas Citizen of India)
Study Location:
- India
- USA, Canada, Australia, New Zealand, Singapore, UAE, Philippines
- United Kingdom, Ireland, Sweden, Spain, France, Germany and other European countries
Loan Amount With Collateral:
- Domestic Studies - Up to ₹50 Lakh
- International Studies - Up to ₹3 Crore
Co-applicant:
- Parents
- Parents-in-law
- Siblings
- Spouse
- First Cousins
- Parents’ Siblings
To ensure a smooth and quick verification process of your Education Loan, please keep the following documents ready.
- KYC documents
- Institute Admit Letter (if available)
- Entrance Test Results (if available)
- Past Academics
Co-applicant Documents:
- KYC
- Employment
- Financials:
- Salaried: Bank Statement, Pay slip, Form 16
- Self-employed: Bank statement, ITR, GST Surrogate
At Poonawalla Fincorp, we offer an Education Loan for studying in Australia, with competitive interest rates and transparent charges, ensuring a seamless financial journey while you focus on your education.
|
Interest Rate |
11.25%* p.a. onwards |
|
Loan Amount |
₹1 Lakh to ₹3 Crore |
|
Loan Processing Fees |
Up to 2%+ GST subject to min. ₹5000 |
|
Loan Tenure |
Up to 15 years |
|
Prepayment/Foreclosure Charges |
• Floating rate loans: Nil • Fixed rate loans: 2% (plus GST) charge on the outstanding amount being foreclosed/prepaid |
|
Default Charges |
24% p.a. + taxes |
|
Repayment Instrument Dishonour Charges |
₹500 per bounce plus applicable taxes |
|
Stamp Duty |
At actuals (as per state) |
|
Hidden Charges |
Nil |
Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf
*T&C Apply
Taking an Education Loan for Australia offers multiple benefits for Indian students and their families. You get to pursue international education now, while repaying gradually over time.
- Eligibility for Leading Australian Institutes: You can secure funding for education at prestigious Australian universities, such as the University of Melbourne, the University of Sydney, or the Australian National University.
- 100% Digital Process: Apply for your Education Loan entirely online, ensuring a smooth and hassle-free experience from start to finish.
- Moratorium Period: You can avail of the moratorium period, a repayment break offered during your study period, allowing you to focus on your education. Use the moratorium calculator to estimate this break and plan your finances accordingly.
- Covers Accommodation and Living Expenses: Your Education Loan can cover accommodation and living costs while studying in Australia, ensuring financial support in cities like Sydney, Melbourne, and Brisbane.
- Tax Benefits: Under Section 80E of the Income Tax Act, the interest on your Education Loan is eligible for tax deductions for up to 8 years, easing your repayment burden.
Visit the Poonawalla Fincorp branches in Bengaluru at the following addresses:
- Address 1: 2nd Floor, HM J.C.Road, 36 J.C. Road, Near Minerva Circle, Bangalore-560002, Karnataka
- Address 2: Ground Floor, Phoenix Citadel, Castle Street, Richmond Town, Bangalore-560025, Karnataka
Contact Number: 1800-266-3201 (Toll Free)
Timing: 9:00 AM to 7:00 PM | Monday - Saturday (Closed on Sunday & Public holidays)
Get Funds Quickly With
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Happy customers, happy us
My loan application journey with Poonawalla Fincorp was smooth and well-explained. The team demonstrated strong product knowledge and guided me clearly at every step. They were highly responsive, addressing my queries promptly and ensuring clarity throughout. The turnaround time was reasonable, with the process completed efficiently and without delays. Overall, I am very satisfied with the experience and truly appreciate the team's support and assistance.
My experience with Poonawalla Fincorp for my Education Loan was seamless and hassle-free. Their clear guidance, proactive communication, and transparent process made everything, from documentation to approval, disbursement, and even FOREX transfer, smooth and timely. The digital platform was easy to use, and their professionalism gave me complete confidence. I chose Poonawalla Fincorp for their supportive, customer-first approach, which enabled me to pursue my MBA at the University of Oxford without financial stress. I highly recommend their education loan products to any student seeking reliable financial assistance.
My education loan journey with Poonawalla Fincorp was seamless and stress-free from start to finish. The team demonstrated excellent product knowledge, explained the process clearly, and guided me through every step with transparency. Their responsiveness and proactive communication ensured that my queries were always addressed promptly, leaving no room for confusion or delay.The turnaround time was impressive! The team's professionalism, polite nature, and dedication to customer satisfaction truly stood out and made the experience even better. I am delighted with the service and would wholeheartedly recommend Poonawalla Fincorp to anyone seeking an education loan. Their supportive approach, timely processing, and customer-first attitude make them a trusted financial partner.
Frequently Asked Questions
Yes, the Education Loan can cover your tuition fees, accommodation, living expenses, travel, and other study-related costs while you’re studying in Australia.
The moratorium period allows you to postpone loan repayments until after your studies are complete, giving you time to focus on your education without financial stress.
The loan repayment tenure is flexible and can range from 1 to 15 years, depending on the loan amount and your financial situation. You can choose a tenure that suits your career and repayment capacity after studying in Australia.
Yes, the loan covers your education expenses in all major Australian cities, including Sydney, Melbourne, Brisbane, and Canberra, making it easier to fund your studies wherever you choose to study.
Apart from financial assistance, studying in Australia offers access to high-quality education, post-study work opportunities, and the chance to experience a vibrant, multicultural environment.
Under Section 80E of the Income Tax Act, you can claim tax deductions on the interest paid on your Education Loan. This deduction is available for up to 8 years, helping reduce your tax liability and easing the repayment process.
Our education loans cover full-time undergraduate, postgraduate, and professional courses. For part-time courses, please check with Poonawalla Fincorp for eligibility and requirements.
You can easily track your loan application status online through the Poonawalla Fincorp chatbot or mobile app. You will be updated at every stage of the application process.