Make college memories that last a lot longer than your student loan payments.
  • New Zealand Education Loan

    New Zealand is considered to be a sought-after hub for Indian students who wish to pursue education abroad. There are various universities in New Zealand that accepts Indian students and allows them to pursue the course of their choice. In order to ensure that the student is able to meet the cost required to complete their education in New Zealand, there are various banks and NBFCs in India that offer education loans at affordable interest rates.

    Higher Education in New Zealand

    There are various universities in New Zealand from where you can pursue a course of your choice. Some of the top New Zealand universities are:

    • University of Auckland
    • University of Otago
    • Victoria University of Wellington
    • University of Canterbury
    • University of Waikato

    Banks offering education loan in New Zealand:

    Bank Rate of interest Tenure
    HDFC Bank 9.55% p.a. onwards Up to 15 years
    State Bank of India 8.65% p.a. onwards Up to 15 years
    Union Bank of India 15% p.a. onwards Up to 15 years
    Axis Bank 13.70% p.a. onwards Up to 20 years

    Expenses covered under education loan:

    The following expenses are covered under an educational loan:

    • Examination, library, laboratory fees.
    • Expenses for travelling if studying overseas
    • Fees for college and hostel.
    • Caution deposit
    • Cost incurred for uniforms, books, etc.
    • Cost of laptop or computer.
    • Other expenses.

    Courses covered under an educational loan

    • Undergraduate degrees
    • Postgraduate degrees
    • Doctorate programmes
    • Diploma courses
    • Vocational courses
    • Skill development courses

    Eligibility criteria

    • The applicant should be aged 18 years and above.
    • The applicant should be a citizen of India.
    • The candidate should have secured admission in a recognised New Zealand university.
    • The course should be valid.

    Documents required to apply for an education loan in New Zealand

    Given below is the list of documents you will have to submit while applying for an education loan to study in New Zealand:

    • Entrance exam results if applicable
    • A duly filled out loan application form
    • Qualifying exam marksheets
    • Entrance test results
    • Letter of Admission
    • Statement of cost of education
    • Passport size photographs of the applicant
    • PAN Cards of both the candidate and the parent/guardian
    • Aadhaar Card of both the candidate and the parent/guardian
    • Proof of identity such as PAN, Passport, etc.
    • Proof of address such as Adhaar, utility bill, etc.
    • Statement of your bank account for the past six months
    • IT returns of the parents/guardians for the past two years
    • Any other documents required by the lender

    How to apply

    You can visit the official website of the bank from which you wish to apply for an education loan. You will have to submit the necessary documents, including the duly signed application form. A representative from the bank will help you with the application process.

    You can also visit the nearest branch of the bank of your choice and apply for an education loan. There you will have to submit the necessary documents along with the duly signed application form.


    1. How much time will it take for my application to be processed?
    2. It will take around 15 days for your application to be processed.

    3. I am a girl. Will I get a concession in interest rates charged?
    4. There are certain banks in India who offer concession on the interest rates if you are a girl.

    5. Will I have to show security if I wish to apply for an education loan?
    6. The bank may not ask for security. However, if your loan amount is high, then the bank may ask for collateral.

    7. I wish to pursue PhD from a New Zealand University. Can I avail a loan for that?
    8. Yes, banks in India will offer you an education loan if you wish to pursue PhD from a university in New Zealand.

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