Studying MBBS in Georgia has become one of the most popular choices for Indian students seeking affordable and globally recognized medical education. With high-quality universities, reasonable tuition fees, and English-medium programs, Georgia offers an excellent opportunity for aspiring doctors. However, financing the full MBBS journey abroad often requires external financial support.
For many families, arranging ₹25 lakh to ₹35 lakh over six years can be challenging. This is where bank loans for MBBS abroad come into play. Indian banks, both public and private, as well as specialized financial institutions, provide education loans tailored for overseas medical studies.
This article provides a detailed, step-by-step guide to the bank loan process for Georgia MBBS – including eligibility, required documents, loan amount, interest rates, repayment, and practical tips to secure approval.
Before diving into the loan process, here’s why Georgia is one of the most attractive destinations for MBBS aspirants:
Affordable Tuition Fees – Annual tuition is typically ₹3 lakh – ₹5 lakh, much lower than private colleges in India.
Globally Recognized Universities – Many universities are NMC and WHO approved, making graduates eligible for licensing exams worldwide.
English-Medium Programs – Students can study in English while learning Georgian for clinical practice.
European Exposure – Georgia is a part of the European education system with modern infrastructure.
Safe Environment – The country is known for its hospitality and safety for international students.
Despite the affordability compared to Western nations, a 6-year MBBS in Georgia costs around ₹25 – ₹35 lakh, including tuition, hostel, food, travel, and other expenses. This is why bank loans become a vital option.
Before applying, ensure you meet the common eligibility criteria set by Indian banks:
Nationality – Applicant must be an Indian citizen.
Admission Proof – Must have secured admission in a recognized MBBS university in Georgia.
Academic Record – Strong academic background, including NEET qualification.
Collateral Requirement – For loans above ₹7.5 lakh, collateral (property, FD, LIC policy, etc.) is often required.
Co-borrower – A parent/guardian must act as co-applicant with a stable income.
Different banks and financial institutions provide education loans for MBBS abroad. Options include:
Public Sector Banks – SBI, Bank of Baroda, Canara Bank, Punjab National Bank.
Private Banks – ICICI Bank, HDFC Bank, Axis Bank.
NBFCs (Non-Banking Financial Companies) – Credila, Auxilo, InCred specialize in education loans.
Tip: Public banks generally offer lower interest rates but have stricter documentation. Private banks and NBFCs are faster but may charge higher interest.
You should calculate the total expenses before applying:
Tuition Fees – ₹18 lakh – ₹25 lakh (for 6 years).
Hostel/Accommodation – ₹3 lakh – ₹5 lakh.
Food & Living Expenses – ₹4 lakh – ₹5 lakh.
Travel & Visa Costs – ₹1.5 lakh – ₹2 lakh.
Insurance & Miscellaneous – ₹50,000 – ₹1 lakh.
Total Estimate: ₹25 lakh – ₹35 lakh.
Banks generally fund up to 90% of the total cost, while some expenses like travel may need to be borne by the family.
Banks require extensive documentation to process a loan:
Student Documents
Admission letter from Georgian university
Valid passport and visa
NEET scorecard
Academic records (10th, 12th mark sheets, certificates)
Recent photographs
Co-Applicant Documents
Identity proof (Aadhaar, PAN, Passport)
Address proof (Utility bill, Voter ID, Driving License)
Income proof (Salary slips, IT returns, bank statements)
Collateral Documents (if applicable)
Property documents (title deed, tax receipts)
Fixed deposit receipts or insurance papers
Visit the nearest branch or apply online through the bank’s education loan portal.
Fill out the application form with details of the course, university, expenses, and co-borrower.
Submit documents and pay processing fees (₹5,000 – ₹10,000 depending on the bank).
Bank verifies admission letter with the university in Georgia.
Co-borrower’s income and collateral are assessed.
If approved, the sanction letter is issued, mentioning loan amount, interest rate, repayment terms, and disbursement method.
Loan is usually disbursed directly to the university for tuition fees.
Hostel and living expenses may be transferred to the student’s account in installments.
Travel, visa, and insurance costs may be reimbursed on proof of payment.
Up to ₹7.5 lakh without collateral.
₹7.5 lakh to ₹1.5 crore with collateral, depending on the bank.
Public Banks: 8% – 10% per annum.
Private Banks: 10% – 13% per annum.
NBFCs: 12% – 15% per annum.
(Female students often get a 0.5% concession on interest in some public banks.)
Course period + 6 months to 1-year moratorium.
Repayment tenure: 10 – 15 years.
Tuition fees
Hostel fees
Food and living expenses
Examination and library fees
Travel and visa expenses
Insurance premiums
Choose NMC-Recognized Universities – Banks prefer funding recognized institutions.
Maintain Good Credit Score – The co-borrower’s CIBIL score should ideally be above 700.
Provide Strong Collateral – Secure property or FD guarantees smooth approval for larger loans.
Show Stable Income of Co-Applicant – Regular salary or business income increases trust.
Apply Early – Start loan application 3–4 months before departure to avoid delays.
Lengthy Paperwork – Public banks often take weeks for verification.
Collateral Requirement – Families without assets may struggle to secure higher loans.
Partial Coverage – Some banks exclude travel and living costs.
Interest Burden – Long-term repayment can stretch family finances.
If bank loans are difficult to secure, students can explore:
NBFC Loans – Faster approval, higher flexibility, but higher interest.
International Scholarships – Limited but available for high-performing students.
Personal Loans – Higher interest but useful for small amounts.
Education Loan Subsidy Schemes – Some state and central government schemes support medical students.
Pursuing MBBS in Georgia is a life-changing decision that requires smart financial planning. The bank loan process for Georgia MBBS may seem complicated, but with the right preparation, it becomes manageable. From checking eligibility, researching banks, estimating total expenses, collecting documents, and applying for sanction, each step requires careful attention.
A well-chosen bank loan not only supports tuition and living expenses but also gives families peace of mind during the 6-year journey. By selecting recognized universities, preparing documents carefully, and applying early, Indian students can successfully finance their MBBS in Georgia without overwhelming financial strain.
In conclusion, bank loans open doors for thousands of Indian students to fulfill their dream of becoming doctors through MBBS in Georgia. With proper planning and informed decision-making, the process can be smooth and stress-free.