Zealand
Education Loan to study in New Zealand
New Zealand is quickly gaining recognition as a top study destination, celebrated for its outstanding teaching methods, cutting-edge research facilities, and prestigious universities. Its blend of academic excellence and rich cultural diversity makes it an appealing choice for students looking for high-quality education and a memorable international experience.
Cost of Studying in New Zealand
In New Zealand, tuition fees for undergraduate courses generally range between NZD 22,000 and NZD 32,000 per year. Master’s programs typically cost around NZD 26,000 to NZD 37,000 annually. For PhD students, the expenses are significantly lower—usually between NZD 6,000 and NZD 9,000—depending on the scholarships or financial aid they receive.
Top QS Ranked Universities in New Zealand (2023):
| University | QS World Ranking 2023 |
|---|---|
| The University of Auckland | 87 |
| Victoria University of Wellington | 275 |
| University of Otago | 275 |
| University of Canterbury | 284 |
| Massey University | 292 |
Cost of Living in New Zealand
Living in New Zealand can be comparatively costly, especially when it comes to accommodation and everyday essentials. On average, international students should budget around NZD 1,500 per month to cover their living expenses.
Check Your Education Loan Eligibility
Education Loan Options for Studying in New Zealand
Pursuing higher education in a country as academically renowned as New Zealand is a remarkable opportunity
However, the costs associated with tuition, living, and other essentials make financial planning a critical step in the process. One common question that arises is whether international students can access student loans for studying in New Zealand. The good news is—yes, they can! There are various education loan options available to support your academic aspirations. Broadly, these loans fall into two categories: secured and unsecured, both offering financial assistance for students planning to study in New Zealand.
What Are Secured Education Loans for New Zealand?
Secured education loans require you to offer collateral—an asset that guarantees the loan such as immovable property or liquid assets like fixed deposits or government bonds. These loans are available through public banks, private banks, and Non-Banking Financial Companies (NBFCs). However, public sector banks are often preferred for their trustworthiness and competitive interest rates.
Secured Education Loan – At a Glance
Here’s a summarized comparison of secured education loan options offered by leading public sector banks in India for students planning to study in New Zealand:
| Feature | SBI | Union Bank of India (UBI) | Bank of Baroda (BOB) |
|---|---|---|---|
| Loan Amount | Up to ₹1.5 Crore | Up to ₹2 Crore | Up to ₹1.5 Crore |
| Interest Rate | 10.65% – 11.15% | 9.8% – 10.15% | 10.14% – 11.15% |
| Margin Money | 10% – 15% | 10% – 15% | Nil |
| Repayment Period | Up to 15 years | Up to 15 years | Up to 15 years |
| Processing Fees | ₹10,000 + GST | ₹5,000 | ₹10,000 + GST |
What Are Unsecured Education Loan Options for New Zealand?
Unsecured education loans do not require any collateral or security. Instead, they rely on a financially stable co-applicant—typically a parent, sibling, or close relative—with a steady income and a good CIBIL score. These loans are available through public and private banks, as well as NBFCs (Non-Banking Financial Companies).
| Lender Name | Maximum Loan Amount | Rate of Interest | Margin Money |
|---|---|---|---|
| Axis Bank | Up to 50 Lakhs INR | 11% – 13.50% | 5% |
| ICICI Bank | Up to 1.5 Cr | 10.85% – 12.50% | 0 – 15% |
| IDFC FIRST Bank | Up to 35 Lakhs INR | 11.50% – 12.25% | Nil |
| HDFC Credila | Up to 65 Lakhs INR | 11.25% – 13% | Nil |
| ICICI Bank | Up to 1.5 Cr | 10.85% – 12.50% | 0 – 15% |
| Auxilo | Up to 65 Lakhs INR | 11.25% – 13% | Nil |
| Incred | Up to 60 Lakhs INR | 12.25% – 14% | Nil |
Expenses Covered Under an Education Loan for New Zealand
Education loans offered by various lenders typically cover a wide range of academic and living expenses to ensure students can focus entirely on their studies. These include:
Cost of Study
- Tuition fees
- Admission charges
- Examination fees
- Expenses for books, laptops, and other academic tools
Cost of Living
- Hostel or accommodation fees
- Food and daily meals
- Transportation costs
Other Essential Expenses
- Health insurance
- Miscellaneous costs related to completing the course
Study Loan for New Zealand: Eligibility Criteria
To be eligible for an education loan to study in New Zealand, Indian students must meet the following requirements:
- Must be a citizen of India
- Should be at least 18 years of age
- Must have secured admission to a recognized university or college in New Zealand
- Should have a strong academic background
The chosen course must be a professional or technical program such as a graduate (e.g., MCA, MBA, MS) or diploma-level degree
Get Expert Assistance
Our Study Abroad Loan Advisors will guide you through eligibility, loan margins, and funding requirements for your dream country.
Email Id: loans@lendingbrothers.com
Phone No: +919830039465 / 8910133020 / 8100755655
