Top 5 Banks In India For Student Loans

Updated on April 15, 2021 10:47 am

Student loans help finance academic pursuits that seem out of reach by borrowing from the government or a private lender such as a bank. Student loans are paid back with interest after graduation. Many successful personalities were able to climb the social mobility ladder through student loans.

Student loans to study abroad have opened doors for many Indian students aspiring to expand their horizons and get new career opportunities along with having an experience of a lifetime. Getting an international degree also gives students great exposure and an edge in getting hired for high-paying jobs.

Several Indian banks offer different student loan schemes for pursuing higher education in India as well as abroad. Such loans are meant to cover tuition fees, hostel fees, and other related expenses while the students pursue their courses.

Most banks have a list of permitted courses and institutions for which the loans can be availed. You can apply for a student loan if the course and the institution you are interested in are included in the bank's list.

Knowledge about education loans can help ambitious students attain good education, improve their job opportunities, and eventually have the capacity to pay back the loan successfully. Remember that loans are borrowings and need to be paid back. As the saying goes, "know before you owe."

Features of Best Student Loans

Higher loan amount
Longer loan tenure
Accountability of transactions
Fast processing time
No/low additional charges
Longer moratorium period
Flexible repayment options
Interest rate subsidies
Tax benefit under section 80(E)
Low or no collateral security
Scholarship adjustment with the loan
Additional features like part-payment, health cover, etc
Wider course and institution eligibility options

Student Loan in India for Studying Abroad at a Glance

One good news is that banking institutions in India that provide student loans are obligated to follow the Central Sector Interest Subsidy Scheme and other regulatory norms. This is necessary for the loans to be in the best interest of the student loan applicants.

Who Is Eligible For a Student Loan in India?

Each bank lists out eligibility criteria for availing of student loans offered by them.

Below is the general student loan eligibility criteria for Indian banks:

The applicant should be an Indian national
Should have secured admission to eligible career-oriented courses in recognized institutions
Should have attained the age of 18 years
Good academic record

Documents Required For Student Loans in India

Documentation is paramount when applying for any loans. Most lenders will ask for the following documents:

Admission letter from the education institution
Duly filled loan application form
Detailed cost breakup of the course
The academic record of the applicant (such as mark sheets, scholarship documents)
Age proof (such as birth certificate or matriculation pass certificate)
ID proof such as PAN card, Aadhar Card, Passport, and Driving License
Recent passport size photographs (applicant and co-applicants)
Address proof
Signature proof
Proof of income (of co-applicant)
Documents for collateral security (when applicable)
Bank statements

Top 5 Banks in India Offering the Best Student Loans to Study Abroad

STATE BANK OF INDIA (SBI)

The following loan schemes by SBI are student loans favoring international students.

SBI Student Loan Scheme

Loan granted for Indian nationals who have secured admission in India or abroad for their higher education
The scheme offers loans for jobs oriented professional/technical Graduation Degree Courses/ Post Graduation Degree/ Diploma Courses like MCA, MBA, MS, etc offered by foreign universities
You can also apply for a loan for courses such as Chartered Institute of Management Accountants (CIMA) and Certified Public Accountant (CPA).
The expenses covered by the loan include tuition fees, fees for examination, library and laboratory fees, purchase of school supplies (uniforms, books, equipment), travel expenses, caution deposit, cost of two-wheeler up to Rs 50,000, expenses for project work, and study tours, etc. (total expense should not exceed 20% of the total tuition fees payable for completion of the course)
SBI Student Loan Scheme provide loan up to 7.50 lakhs for studies abroad
No collateral security for loans up to Rs. 7.50 lakhs. Only a parent or a guardian as co-borrower is required
Maximum loan amount: Rs 30 lakhs with tangible collateral security
Processing fees: Rs 10,000 (+ taxes) for loans above Rs. 20 lakhs
Loan tenure: 15 years after commencement of repayment
Interest Rate: 9.30% p.a.
Margin: NIL for up to Rs 4 lakhs. For loans above Rs 4 lakhs, the margin is 5% for studies in India and 15% for studies abroad
Margin may be brought in on a year-to-year basis as and when disbursements are made on a pro-rata basis
Repayment starts after one year of course completion
Repayment through EMI. Interest can be paid off during the moratorium period

SBI Global Ed-Vantage Scheme

SBI Global Ed-Vantage is an overseas education loan to study full-time regular courses at foreign colleges/universities. The scheme covers Regular Graduate Degree/ Post-Graduate Degree/ Diploma /Certificate /Doctorate Courses in any discipline offered by foreign institutes/ universities in the USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand, and Europe
Under the SBI Global Ed-Vantage Scheme, SBI grants educational loans above Rs 7.5 lakhs up to Rs 1.5 Crores for foreign studies
The expenses covered by the loan include tuition fees, fees for examination, library and laboratory fees, purchase of school supplies (uniforms, books, equipment), travel expenses, caution deposit, expenses for project work, and study tours, etc. (total expense should not exceed 20% of the total tuition fees payable for completion of the course)
Loan sanction prior to i20/Visa
Repayment through EMI up to 15 years
The simple interest rate for the course duration + Moratorium period
Tax Benefit under section 80(E)
Interest rate: 9.30% p.a.
Scholarship/Assistantship to be included in margin
Processing Fee: Rs 10,000
Tangible Collateral security needed

AXIS BANK

Axis Bank provides loans for technical or professional courses, job-oriented courses to students to study in India and abroad.

Features of Axis Bank Student Loans:

Simple Documentation
Quick Loan Disbursal
Easy Repayment Options
Expenses cover tuition fees, hostel fees, purchase of books, school supplies, etc.
Tax benefit under section 80(E)
Loan amount can go up to 75 lakhs
Loan Tenure:10-15 years
Interest rates: 13.70% - 15.20%
Processing Fees: NIL for up to 10 lakhs. And 0.75% of the differential loan amount for above 20 lakhs + GST (Non-Refundable fee)
Balance Transfer: Change your existing high-cost education loan and reduce monthly EMI
Door-Step Service

HDFC BANK

Features of HDFC Education Loan for Foreign Education:

100% coverage of the entire cost of education and with no upper limit with collateral. While it is up to Rs. 20 lakhs for studies in India
0% loan margin
Expenses covered include fees for exam, library, and laboratory, purchase of books, equipment, computer, uniforms, travel expenses, insurance, caution deposit additional expenses for study tours, project work, thesis, etc.
Processing fees: up to 1.5% of the sanctioned amount + taxes
Unsecured loans are available up to Rs. 35 lakhs
Collateral Options: Moveable- Fixed Deposit with HDFC Bank; Immoveable- Flat, House, Land (Non-agricultural), Shop, etc.
Get loan sanctioned before admission
Loan tenure up to 15 years including moratorium period
Interest rates: 9.25%- 13.52%
Minimal and simple documentation
No hidden charges
Zero prepayment charges
Door-step service and web-enabled billing
Loans provided for over 950 professional courses at approved universities in 36 countries
Flexible repayment options
Tax benefit under section 80(E)
Insurance cover for your loan
Get preferential rates for top-ranked colleges and universities

ICICI BANK

ICICI bank provides one of the highest education loan amounts for pursuing higher education in India as well as abroad.

Here are the features for ICICI bank student loans:

The loan amount is up to Rs. 50 lakhs for studies in India and up to Rs 1 crore for overseas studies
Margin: NIL for premier institutes and for loans up to Rs 20 lakhs
Loans above Rs 20 lakhs attract a 5%-15% margin, that can be FD/scholarship/initial fee paid to the institute
No collateral required for education loans up to Rs 20 lakhs (for UG courses) and Rs. 40 lakhs (for PG courses at select institutions)
Pre-Visa loan disbursal for international students
Preferential forex rates for international loan disbursements
Loan tenure: Up to 8/10 years for UG course period + 6months
Up to 10/12 years for PG course period + 6 months
Flexible repayment options
Interest rates: Secured loans starting at 10.50% p.a. and unsecured loans starting at 10.75% p.a.
Processing fees: 1% of loan amount + applicable taxes

Punjab National Bank (PNB)

PNB Udaan is an education loan scheme offered by Punjab National Bank for students who have secured admission at reputed universities abroad.

Features of PNB Udaan Loan:

Eligible courses: Graduation (job-oriented professional/technical courses)
Post-graduation (MCA, MBA, MS, etc). Courses conducted by CIMA, London, CPA in the USA, etc. Degree/Diploma courses like aeronautical, pilot training, shipping, etc.
Here is a list of permitted Foreign Universities and Institutes.
The expenses covered by the loan include tuition fees, fees for examination, library and laboratory fees, purchase of school supplies (uniforms, books, equipment), travel expenses, caution deposit, expenses for project work, and study tours, etc.
Loan amount: Need-based finance subject to repaying capacity with margin
Loan tenure: 15 years
Interest rates: 7.80%-9.55%
Moratorium period: Course period + 1 year
Zero Prepayment charges
Upfront processing fees: 1% of the loan amount (Minimum: Rs, 10,000; The processing fee is refundable post the first disbursement)
Collateral security: Only for loans above Rs. 7 lakhs. Parent/Guardian as co-borrower
Margin: NIL for up to 4 lakhs and 15% for above Rs. 4 lakhs
Scholarship/ assistantship be included in margin.
Margin may be brought in on a year-to-year basis as and when disbursements are made on a pro-rata basis

Refinancing Of Student Loans

Student loans can be of tremendous help when you have limited financial resources for pursuing higher education. The challenge comes when you have to repay the borrowed amount along with interest. For huge loans, the EMIs are not a small amount of money, and not paying it on time can hurt your credit rating. There is also the risk of falling into debt.

Once you have completed your education and are earning a decent income, you can negotiate your loan terms in your favor to reduce the burden of repayment and maximize your potential savings. You can do this by refinancing your student loan which is paying off your existing student loan using another loan with a lower interest rate. Lowering the interest rate will save you money over the long term.

Refinancing is also possible even before you finish your studies. Based on the career prospects and earning potential after completing the course for which you took the loan, you could be able to refinance your existing secured loan with an unsecured loan.

Several banks and private lenders provide refinancing student loans.

With each passing year, the cost of education keeps increasing. Barack Obama, the former president of the United States is said to have paid off his student loan in his 40s just before getting elected as a senator.

Applying for loans is not an easy task. You have to do research, check if the course and institution you are going to study are on the bank's list, figure out how much financing you need and how much you need to arrange on your own.

You also need to compare various student loan options based on the loan amount, tenure, interest rates, have the documents ready, and apply on time. And hope that the loan gets approved and disbursed without any trouble.

However, the benefits you get from such financial help far outweigh the efforts you put into a student loan application.

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Money Transfer FAQ's

What is an EFT (Electronic Funds Transfer)?

Electronic funds transfer (EFT) is one of the commonly used methods to send money nowadays. There are various ways of making an electronic fund transfer. It includes more than online ACH transfers or wire transfers.EFT payments have become an essential part of our daily lives. From online shopping to paying bills, transferring money electronically has revolutionized how we handle financial transactions.So, EFT is a term you've probably come across and most likely have sent money by EFT but what does it really mean?In this blog, we discuss what is an EFT, different types of EFT payments, how ETFs work and its key components, benefits, and drawbacks so that you can make a wise decision on which is best for your transfer needs.What is an Electronic Fund Transfer?Electronic Funds Transfer (EFT), is a digital transfer of money through an online payment system, either between banks or people. EFT payments can be done within the same bank, or between banks.As the money transfers are all digital, there is no need for physical currency or paper checks. Because of this, EFT payments are far quicker and more accessible than other methods of sending money.As the traditional paper-intensive processes become more digitized, EFTs will continue to grow and evolve.The Key Components of EFT PaymentsTo fully grasp how an EFT works, it's essential to understand its key components. These include:Sender or OriginatorThe party or individual who initiates the electronic funds transfer. This could be a person sending money to a friend or a business paying its employees.ReceiverThe recipient of the funds receives the electronic transfer in their account. This could be an individual or a company.Financial InstitutionsBanks, credit unions, and other financial institutions play a crucial role in facilitating EFT. They serve as intermediaries that help process and complete the electronic transactions.Electronic ChannelsEFT transactions can occur through various electronic channels, including online banking, mobile apps, point-of-sale terminals, and ATMs.Payment SystemsPayment systems are the networks and protocols that enable electronic funds transfers. Some well-known payment systems include ACH (Automated Clearing House), SWIFT (Society for Worldwide Interbank Financial Telecommunication), and card payment networks like Visa and MasterCard.Types of Electronic Funds TransfersThere are several different types of Electronic Funds Transfers, each designed for specific purposes. Here are some of the most common types:Direct DepositsThis is a common form of electronic funds transfer where funds are deposited directly into a bank account. For example, direct deposit from the employer's bank account to to employee's bank account.This EFT uses an electronic funds transfer network called the automatic clearing house (ACH). The money can be transferred instantly and automatically into the receiver's bank account.The ACH system is also used for recurring payments, such as utility bills, mortgage payments, and subscription services.Wire TransfersWire transfers involve the immediate funds transfer between two banks, often used for high-value or international transactions. The electronic transfers are handled by a network of financial institutions such as the Fedwire Funds Service, Clearing House Interbank Payments System (CHIPS) in the U.S. for domestic wire transfers, or the SWIFT network or IBAN for international payments.Debit and Credit Card TransactionsWhen you use your debit or credit card for a purchase, you're essentially conducting an EFT transaction. The funds are electronically transferred from your account to the merchant's account.The cards feature 16-digit numbers across the front, along with the expiration date and the cardholder's name. Both cards are used either by swiping through a reader, but the more common methods are the chip and PIN or contactless technology.Mobile PaymentsMobile wallets like Apple Pay, Google Pay, and Samsung Pay allow you to make electronic payments using your smartphone. To make a contactless payment, you hold your smartphone up to a reader like you would a credit or debit card.Bank ATM (Automated Teller Machine)Bank ATM transactions are EFT payments that use Internet banking to move money electronically between bank accounts, deposit money, or withdraw cash. The bank-issued debit or credit card and PIN are used to make the ATM transaction. Although ATM fees are common, they are usually waived if you use an ATM that is owned and operated by the same bank that holds your bank account.How Long Does an EFT Take?EFTs are typically far speedier than any paper-based option. However, there are different types and transfer times vary.For example, certain mobile payments, and peer-to-peer payments are settled instantly. Domestic automated clearing house transactions are completed the following business day.It can take as little as one minute for a domestic wire transfer initiated using a non-bank money transfer service and destined for an account at the same financial institution. Whereas it can take three to five days for an international wire transfer to clear.What is the Cost of EFT?The cost of an electronic funds transfer varies depending on the type of transfer you select and the total amount of money you wish to send.If you own a company and need to pay an employee's salary, using direct deposits is a cost-free option for you to consider. Or you can use a debit card or a smartphone to make a contactless payment in stores without incurring any transaction fees.Benefits of EFT PaymentsEFT provides several advantages, both for individuals and businesses.Speed: EFTs are much faster than traditional paper-based methods. Money transfers are instant, making them ideal for urgent transactions.Convenience: EFTs allow you to initiate and receive transactions from the comfort of your home or anywhere with an internet connection. You don't need to visit banks or handle checks manually.Security: EFTs are generally more secure than paper-based ones. Banks and payment service providers employ encryption, multi-factor authentication, and real-time fraud detection systems to safeguard electronic transactions.Cost-effective: EFTs are less expensive for both individuals and businesses. You can save money on postage, check printing, and transportation costs associated with paper checks.24/7 Availability: EFT systems are available 24/7, allowing you to make transactions at any time.Drawbacks of EFTsInternational wire transfers, which are a type of EFT, can be costly considering there are charges for sending and receiving money, including correspondent bank fees, and other penalties, such as investigation fees, in the event that the wire transfer is misplaced.Wire transfers are irreversible once sent. Any funds that were sent to the wrong person by mistake or at the request of a fraudster cannot be recovered.EFTs are vulnerable to fraud, hacking, and identity theft. It's essential to take precautions to protect your financial information. This includes regularly monitoring your accounts, using strong and unique passwords, and being cautious about sharing your financial details online.What is the Electronic Fund Transfer Act? (EFTA)The Electronic Funds Transfer Act (EFTA) is a federal law in the US enacted in 1978 to protect individual consumers engaging in EFTs.Guidelines and responsibilities for consumers and banks to address errors are included in the EFTA. Customers have the choice to dispute and correct inaccuracies without incurring financial penalties.In accordance with the act, banks are also required to give customers specific details on how to reduce their liability in the event that their card is lost or stolen.In light of the growing preference for electronic transfers over paper checks, customers required reassurance regarding the security of their money. This led to the development of new regulations that would enable users to safely utilize electronic fund transfer services.Alternative Money Transfer OptionsIf you are looking to transfer money overseas, there are specialized money transfer providers offering EFT services that offer overall better experiences in terms of costs, speed, convenience, and efficiency.InstaremInstarem offers seamless cross-border money transfers to more than 55 countries via its network of more than 8000 banks worldwide, with competitive exchange rates and low fees. Their user-friendly platform ensures swift and secure transactions for individuals and businesses alike.WiseWise revolutionizes international transfers by providing transparency, real exchange rates, and minimal fees. Users can trust Wise for cost-effective and efficient cross-border transactions. Additionally, Wise offers a multicurrency account that lets you keep more than 50 different currencies and convert them at an affordable rate.RemitlyRemitly focuses on fast and affordable money transfers, catering to the needs of expatriates and those supporting loved ones abroad. Remitly provides two-speed options for money transfers: Express ensures immediate delivery with higher fees while Economy delivers funds in 3 to 5 business days.XEXE is a trusted currency converter and money transfer platform, providing real-time exchange rates and tools for individuals and businesses to make informed financial decisions in the global market. It offers international money transfers in 139 currencies to over 220 countries and territories.PandaremitPandaremit stands out for its user-friendly interface and competitive rates in the remittance market. It's a reliable choice for individuals seeking convenient and efficient international money transfers. Transfers can be completed in as little as 2 minutes, and a 100% satisfaction guarantee ensures a full refund if expectations aren't met.PangeaPangea simplifies remittances for users, especially those sending money to Latin America. With a focus on speed and accessibility, Pangea ensures a straightforward experience for cross-border transactions. It offers swift, secure, convenient, and cost-effective global money transfers from the U.S. to 25 countries across Asia and Latin America in under 30 seconds. Verify its availability in your state of residence, as there are certain U.S. states where Pangea may not be accessible.AboundAbound, previously named Times Club and affiliated with the Times of India group, serves as a rewards and remittance app tailored for Non-Resident Indians (NRIs). Abound enables the transfer of funds from the U.S. to India with attractive exchange rates, providing cashback and rewards. You get competitive exchange rates and no transfer fees when sending money to over 130 Indian banks from the U.S.PomeloPomelo introduces a fresh approach to seamless money transfers from the U.S. to the Philippines, integrating consumer credit with international remittance services. It offers a Family plan for global credit sharing, delivering individual cards within 10 days. Users can send money now, pay later at zero APR, and control card balances monthly at a competitive USD to PHP exchange rate.SBICFor fast money transfers from the United States to India, consider SBIC (State Bank of India-California), a subsidiary of India's State Bank of India. As a full-service bank with multiple California branches, SBIC provides various financial solutions and international services. Key features include zero-cost transfers to any Indian bank within hours, competitive USD to INR exchange rates, and flexible transfer options through the SBIC Mobile App, online, or in-person.PlacidPlacid offers a comprehensive platform for international money transfers, focusing on speed and security. It streamlines currency exchange across 25+ countries through direct affiliations with various banks. It ensures rapid transfers, allowing recipients to receive funds directly in their bank accounts or through convenient cash pickup at local agents. Notably, their spotCash! service distinguishes itself with speed, simplicity, and convenience for recipients.PassToPassto stands out for its commitment to providing cost-effective and reliable international money transfer services. It caters to expats in the UK, offering a mid-market exchange rate and transparent fees, facilitating money transfers to 60 countries and real-time airtime top-ups to 150+ countries. Users can PassTo Plus Points with each transfer, which is redeemable for fee discounts on future transactions.ConclusionElectronic Funds Transfer has revolutionized the way we handle financial transactions, providing convenience, speed, and security. EFTs continue to evolve as technology advances. The future of EFT holds the promise of even greater convenience and efficiency.As we have discussed in the blog, there are various specialized services for a seamless and efficient global money transfer. Explore these options to make informed decisions based on your specific transfer needs.To compare your options for international money transfers, use CompareRemit's comparison tool and find a provider that best fits your money transfer needs!

Last-Minute Gift Ideas for Diwali 2023

Diwali, the Festival of Lights, is a time of joy, celebration, and the exchange of gifts. As Diwali 2023 approaches, finding the perfect gift for your loved ones can be a delightful challenge. Whether you're running short on time or looking for thoughtful last-minute gift ideas for your sister for Bhai Dooj, we've got you covered. In this article, we'll explore the essence of Diwali, its significance, key dates, and suggest creative ways to send gifts using remittance services.What is Diwali? Diwali is a prominent Hindu festival celebrated with enthusiasm across India and among the global Indian diaspora. It symbolizes the victory of light over darkness and good over evil, with a rich cultural and spiritual heritage. A time full of vibrant rangoli, crackling firecrackers that light up the night, and aromatic food being passed around, Diwali spans five days of festivities, each with its own rituals and significance.Families illuminate their homes with diyas (oil lamps) and candles, create beautiful rangoli designs, and indulge in sweets and savories.Why is Diwali Celebrated?Diwali celebrates the victory of good over evil and light over darkness. It's a time to seek blessings for prosperity and happiness. The exchange of gifts during Diwali is a way to show love and appreciation for one another, enhancing the festive spirit.Key Dates for Diwali 2023:Dhanteras: November 10, 2023The first day of Diwali, dedicated to the worship of Lord Dhanvantari (the physician of the gods) and goddess Lakshmi. People buy gold, silver, and utensils on this day.Naraka Chaturdashi (Choti Diwali): November 11, 2023On this day, Lord Krishna defeated the demon Narakasura, signifying the victory of good over evil. It's a day of cleansing and lighting lamps.Diwali (Main Day): November 12, 2023The most important day when families come together to perform Lakshmi Puja (worship) and light oil lamps or diyas to illuminate their homes.Govardhan Puja: November 13, 2023A day to worship Lord Krishna, who lifted the Govardhan Hill to protect the villagers from torrential rain.Bhai Dooj: November 14, 2023A day to celebrate the beautiful bond between brothers and sisters, with sisters applying tilak on their brothers' foreheads.Last-Minute Diwali Gift Ideas1. Digital Gift CardsConsider sending digital gift cards from popular online retailers. These cards allow your loved ones to choose their perfect gift, ensuring they get something they truly desire. Many remittance services offer the option to send digital gift cards along with money transfers, making it a convenient choice for last-minute gifts.2. Money TransfersSending money home for Diwali is a practical and thoughtful gift. Online remittance services like Wise, Instarem, Abound, Xe Money Transfer, Wo Transfer, etc. offer quick and secure transfers, enabling your family to make Diwali purchases, decorate their homes, and prepare delicious meals. It's a versatile gift that allows your loved ones the freedom to use the funds as they see fit.To find which money transfer service is the best one for you, check out our catalog of reviews and guides, all designed to help you see the complete ins and outs of the many remittance services on the market to make the best decision for your needs. We invite you to compare remittance providers using CompareRemit’s comparison tool today to find the best rates, lowest fees, and fastest turnaround times for your specific destination and transfer amount.3. Subscription ServicesGift subscriptions to streaming platforms, magazines, or online courses. These subscriptions offer entertainment and knowledge, making them valuable and enjoyable gifts for your loved ones.4. Personalized Diwali HampersPut together a personalized Diwali hamper with traditional sweets, homemade treats, and small decorative items. Include a heartfelt Diwali card to add a personal touch. Sending a picture of the hamper along with a digital money transfer can be a delightful surprise for your family.5. Online Shopping VouchersOnline shopping vouchers from popular e-commerce platforms allow your loved ones to pick their favorite items. These vouchers can often be emailed directly, making them an excellent last-minute gift option.In the spirit of Diwali, the joy of giving is unparalleled. Embrace the true essence of the festival by spreading happiness, love, and prosperity. Even in the last minutes leading up to Diwali, these thoughtful and practical gift ideas ensure your loved ones feel cherished and valued. Utilize reliable remittance services to make these gestures of love possible, bridging the distance and connecting hearts across the globe.For all of your money transfer needs, visit our homepage for more information on how to find the best option for you and your family this Diwali. Here you will be able to compare exchange rates between the top remittance companies, find the best rates, learn how to get started, receive exclusive offers, and more. This Diwali, let your gifts illuminate the lives of your dear ones, just like the radiant glow of diyas brightens the darkest of nights. Happy Diwali!

Best Diwali Money Transfer Deals in 2023

As the joyous festival of Diwali approaches, the spirit of giving and connecting with loved ones in India is more vibrant than ever. To help you make the most of this Diwali season, we've compiled an exclusive guide to the Diwali 2023 offers from some of the leading money transfer companies featured on our platform. With CompareRemit's powerful comparison tool, you can easily compare and contrast live exchange rates, ensuring that you find the best deal for sending money home during this festive season.We have searched across multiple money transfer companies to find the best Diwali deals for you and put them all in one place! Check back with this article regularly as we update the deals available this Diwali season. SBIC Diwali Remittance Offer: Illuminate Lives with Exclusive Rates!State Bank of India (California) is dedicated to making your Diwali celebrations brighter and more special than ever before. Introducing the SBIC Diwali Remittance Offer, where you can send money to India and receive an exclusive exchange rate benefit of 20 paisa higher than SBIC’s regular base exchange rate! This offer is valid for a limited period only, from November 1 to November 16, 2023. To avail this exclusive offer and send your Diwali Remittance, visit SBIC's official website. Terms and conditions apply.ICICI Money2India Diwali Offer: Catch the Money2India Offer and Enjoy Cricket on Sling TV!ICICI Money2India is adding excitement to your Diwali by offering a fantastic deal. Register and transact with Money2India using the promo code WORLDCUP60 before November 30, 2023, to enjoy 1 month of cricket on Sling TV and get an exchange rate that's 60 paise better on your first transfer. New customers will also receive a $10 Sling Gift Card via email upon the successful completion of their first transaction.Explore More Offers Beyond Diwali DealsWhile not every money transfer company is running Diwali-specific promotions, several are still offering great deals this festive season:Instarem Money Transfer: New customers can take advantage of special rates and zero fees on their first transfer up to USD 500 with Instarem.Western Union: Enjoy zero fees on your first transfer.Ria Money Transfer: Use the promo code HELLORIA at checkout for a $0 fee on your first transfer with Ria.Keep an eye on this article as we actively update it with new offers that emerge during the Diwali season. With CompareRemit’s comparison tool and these exclusive Diwali offers, you can navigate the festive season with confidence, finding the best deal that suits your needs. Wishing you a radiant and prosperous Diwali filled with love and happiness!