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How to pay education loans in India from the US with Wise
Managing an education loan in India while living and working in the United States can be stressful.
You need to navigate international transfers, unpredictable exchange rates, and hidden bank fees. The process can feel complicated and expensive, and you may worry about whether your payments will arrive on time and in full.
Wise offers a simple, cost-effective solution. It is designed to make sending money internationally as easy as sending it locally.
This guide provides a complete, step-by-step process for paying your Indian education loan from the US with Wise. You will learn how to handle your repayments confidently, saving both time and money.
Why use Wise to pay for education loans in India from the US?
When making regular payments across borders, the small details add up. Wise is built to give you an advantage on every transfer.
- Fair, upfront pricing: You’ll see the total cost before you hit send. Wise uses the real live exchange rate, the one you see on Google, and if you're sending a large amount, you might even snag a volume discount 3
- Speed you can track: Sending money from the US to India is often near-instant. Plus, you’ll get a clear delivery estimate and a tracker to follow your money every step of the way 3
- Easy for them, safe for you: Your recipient gets INR directly in their bank account or via UPI. No Wise account required on their end. Meanwhile, your funds are protected – Over 1,000 experts and our smart systems run 7 million checks every day to spot and stop fraud 1 4
- 24/7 customer support: Need any additional assistance? Get help from thousands of specialists any time over email, phone, and chat 4
How to use Wise to pay for education loans in India from the US?
Paying off an education loan in India from the US is a straightforward process when using Wise. By following these steps, you can ensure your Indian Rupee (INR) transfer is handled efficiently and reaches the correct bank account.1
Step 1: Open your account
To get started, sign up for a Wise account using your email address and create a password. Before you can send money, Wise will need to verify your identity to keep your account secure.
| *In case you are sending less than $3,000, the platform won’t ask you to go through verification steps. |
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Step 2: Start your transfer
From your home screen, select the Send button. You will then need to enter the amount you want to send in USD or the exact amount in INR that you want the loan provider to receive. Wise will show you the exchange rate and the total fees upfront.
Step 3: Add the loan provider as a recipient
Select Add a recipient and choose INR as the currency. To ensure the payment reaches your loan account, you will need to provide the following bank details:
- Full name: The name registered on the bank account in India (using Latin characters)
- Account number: Usually between 5 and 20 digits
- IFSC code: An 11-character alphanumeric code (e.g., ABCD0123456)
Alternatively, if your loan provider accepts UPI, you can simply enter their UPI ID.
Step 4: Select the purpose of payment
For transfers to India, you must select the purpose of the payment from a provided list. Selecting the correct category ensures your transfer isn't delayed by additional information requests.
Step 5: Choose how to pay for the transfer
You will see several options to fund your transfer from the US (such as bank transfer or debit/credit card). Each option displays its own fee and estimated delivery time. Paying from your bank account is typically the most cost-effective method.
Step 6: Review and confirm
Carefully check all the recipient's bank details and the transfer amount. If everything looks correct, select Continue and Send.
Wise will then provide you with a Unique Transaction Reference (UTR) number via email, which you can use to track the status of the payment.
What taxes do you have to deal with when paying education loans in India from the US?
When sending money to India, you may encounter Tax Collected at Source (TCS), a mandatory tax regulation under India’s Liberalised Remittance Scheme (LRS). 1
Wise uses your PAN number to determine if this applies to your transfer. If it does, the tax is collected as an additional fee and remitted to the Indian tax authorities on your behalf.
Here is how the TCS thresholds work for the Indian financial year (April 1 to March 31):
- Under 1,000,000 INR: No TCS is charged on transfers for education, travel, or visiting family if your total remittances for the year are below this limit
- Over 1,000,000 INR: If you exceed this threshold, a tax is applied only to the amount above the limit. The rate is 5% for education and medical expenses, and 20% for other transfer purposes
- Education Loan Exception: If you are paying for education using a formal loan from a financial institution, no TCS is charged, regardless of the total amount sent
You will see the exact TCS amount calculated during the Review step of your transfer. You must declare whether you have already remitted more than 1,000,000 INR in the current financial year.
If you have, TCS will apply to the full amount of your next transfer – not just the portion above the threshold.
| Note: Wise cannot process transfers to India for investment or charitable purposes. 1 |
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FAQs
How much can I send?
Wise allows you to send up to 100 million INR per transfer to an individual bank account in India.
Note: Under India's Liberalised Remittance Scheme (LRS), Indian residents receiving remittances may be subject to separate regulatory limits.
| With the Wise account, you can top up your USD with a domestic transfer that you will be able to convert at the mid-market rate with an upfront conversion fee. |
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Sources
- Wise help – Guide to INR transfers
- Wise help – How do I send money with Wise
- Wise – Send money to India
- Wise – Safety and security
- Wise – Mid-market rate
Sources checked 06/18/2026
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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