Can an Indian citizen studying abroad on a scholarship apply for education loans from Indian banks like HDFC Bank or ICICI Bank?
Yes, an Indian citizen studying abroad on a scholarship can apply for education loans from banks in India, such as HDFC Bank or ICICI Bank. These banks offer education loans to cover expenses not covered by scholarships, including tuition, living costs, and other related expenses. Eligibility criteria typically include admission to a recognized foreign institution, a co-applicant (usually a parent or guardian) with a stable income and collateral for higher loan amounts.
Scholarships can strengthen your loan application by demonstrating financial support. It’s advisable to contact the banks directly for specific terms and conditions and to ensure all required documentation is in order.