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Education Loan - Overview

Education loan is the best way to pursue higher education without getting your finances disturbed. You can take education loan for courses in India or abroad. For unemployed students, their guardian or parents need to be guarantors.

Using an Education Loan EMI Calculator, you can check the EMI amount that you would have to pay every month. You can check this as many times as you want so you can enter the interest rates offered by different banks to find out which best suits your budget. Hence, an EMI calculator is quite helpful in choosing the right lender.

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Education Loan - Features & Benefits

  • Loan financing up to Rs.1 crore available.
  • Loan repayment tenure up to 15 years.
  • Get Education loans for studies in India and abroad.
  • Some lenders offer loan disbursal before applying for a Visa.
  • Door-step service to collect required documents.
  • Children of the bank's employees enjoy preferential rates at several banks.
  • Certain banks offer concessional interest rates to female students.
  • Enjoy a moratorium period of up to 1 year after course completion. During this period, you do not have to make payments on the loan.
  • Enjoy tax benefits up to 8 years on the interest paid.
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Education Loan - Eligiblity

The vital education loan eligibility criteria that the candidates need to fulfil to get approval for the loan are listed out here:

  • The candidate applying for the loan must be a resident of India.
  • He/she must have confirmed admission in recognised educational institutes in India or abroad.
  • The age of the candidate must fall within the bracket of 18 to 35 years during loan application.
  • He/she must be undergoing a graduate/postgraduate degree or a PG diploma.
  • The applicant should have a secured admission in a college or university affiliated by University Grants Commission (UGC)/All India Council for Technical Education (AICTE)/Govt. etc.
  • Students pursuing full-time courses need to have a co-applicant who can be either parent/guardian or spouse/parent-in-law (in case of married candidates).
  • The co-applicant must have a regular income source.
  • A strong academic record facilitates speedy loan approval.    
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Education Loan - Required Documents

Here is an indicative list of documents that most lenders ask:

  • Admission letter from the educational institution
  • Marksheets (previous education - school/college)
  • Age proof
  • ID proof
  • Address proof
  • Signature proof
  • Salary slips
  • Recent bank account statements
  • ITR with income computation
  • Audited balance sheet
  • Recent bank statements
  • Proof of turnover (service tax return/sales receipt)
  • Completed application form with signature
  • Latest passport size photographs
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Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

Every bank has its own eligibility criteria for dispensing education loans, but a few common parameters are:

  • Applicant should be an Indian national.
  • Applicant should have confirmed admission in a college/educational institution at the time the loan application is made.
  • Applicant should be in the age bracket 16–35 years.
  • The Applicant should have a co-borrower such as a parent who acts as guarantor for the loan
  • Collateral in the form of a fixed deposit etc. is required for loan amounts higher than Rs. 4 lakhs.

A majority of students applying for an education loan do not have previous credit history such as other loans or credit cards. Thus, education loan specialized lenders have a specialized credit scoring model that scores education loan application based on the University, College and the Course of admission. They factor the academic background of the student as well as the credit history of the co-borrower into their decision.

The loan availed by the student is paid to the educational institution directly in the local currency (Dollar/Pounds/Euro etc.). The lender may charge an additional currency conversion fee as per RBI regulations on the loan amount disbursed.

Yes, this is possible. You can borrow a loan for a bachelor’s degree followed by one for master’s without repaying the first loan. This loan can be taken as a top-up loan against the already existing loan; however, it is subject to the lending bank’s discretion and the internal rules and regulations of the lender.

It will commence as per the new holiday period, which will take effect once the student has joined a new course.

Earlier, having an account in the bank from where the borrower was hoping to get a loan used to be an important criterion. Now it is no longer a mandatory requirement. If you have an account with the particular bank, it usually becomes easier to get the loan sanctioned. This is because of your prior relationship with the bank, your past financial records and transactions can be analysed faster to make a decision.

Most banks do not levy prepayment penalty on education loan. However, it is best to check with the bank before signing the dotted line.

Each student is given some time by the bank before the repayment tenure starts. This is the time granted by the lender before the repayment begins is referred to as the holiday period. It is usually either 6 months to 1 year after the successful completion of the course, or the time it takes the borrower to start working at a job, whichever is earlier.

If there is a break in the course or the borrower chooses a sabbatical, it is entirely up to lending bank’s discretion on whether to add a few months to the holiday period.

Some banks perform independent verification of the employment records of the loan cosigner, which typically include parent/guardian or spouse (if married) of the student who is applying for the education loan. In case the details provided cannot be verified, the loan application may be rejected by the prospective lender.

The tuition and hostel fees are disbursed directly to the institute as per their schedule and fee structure usually in the form of a draft. Other components of the loan such as course-related expenses for lab equipment, laptop computer, uniform, travel expenses etc. may be claimed by and provided to the loan applicant.

Most lenders have a maximum limit of Rs 10 lakhs to Rs 15 lakhs for studies within India, while the maximum limit on education loans for overseas studies is between Rs 20 lakhs to Rs30 lakhs. In case of some lenders, the applicant can get a higher loan amount sanctioned provided bank-accepted collateral is provided.

How To Apply

  • 1. Visit our website at www.loanmani.com
  • 2. Select your Education Loan
  • 3. Submit your application
  • 4. Provide the necessary documents and information as requested.
  • 5. Wait for our quick approval process to confirm your loan.
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Bank Name(NBFC'S & Banks) Estimated APR Available Terms Loan Amount
Axis Bank

Axis Bank Education Loan

7.00%-15.00%

Estimated APR

1 - 15 Years

Available Terms

Up to Rs.1 L - 75 L

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other features Our Features

  1. Loan amount up to Rs. 75 lakhs for studies in India and up to Rs. 1.5 crores for studies abroad.
  2. Flexible repayment tenure of up to 15 years.
  3. No margin for loans up to Rs. 4 lakhs.
  4. 1% concession in interest rate for the entire loan tenure if interest is serviced during the moratorium period.
  5. No prepayment charges.
  6. Tax benefits under Section 80(E) of the Income Tax Act.

Required Documents Axis Bank Documents

Application form: Duly filled and signed by the applicant and co-applicant.

Photograph: Passport size photographs of the applicant and co-applicant.

Identity Proof: Any one of the following - Aadhaar Card, PAN Card, Voter ID, Passport, Driving License.

Address Proof: Any one of the following - Aadhaar Card, Passport, Voter ID, Driving License, Utility Bill.

Income Proof of Co-applicant: Any one of the following - Salary Slip, Form 16, Income Tax Returns.

Proof of Admission: Admission letter from the institute indicating the course, duration, and cost.

Academic Records: Mark sheet of the most recent qualification.

Collateral Documents: Any one of the following - Property documents, Fixed Deposit receipt, LIC policy, NSC certificates.

Think About Axis Bank Think About

  1. Quick loan approval and disbursement.
  2. Easy application process with minimum documentation.
  3. Competitive interest rates.
  4. No prepayment charges.
  5. Tax benefits under Section 80(E) of the Income Tax Act.

Eligible Criteria Axis Bank Eligible Criteria

  1. The applicant must be an Indian national.
  2. The applicant must have secured admission to a recognized course in India or abroad.
  3. The applicant must have a co-applicant (parent, spouse or sibling) who can provide collateral security for the loan.
Kotak Mahindra Bank

Kotak Mahindra Bank Education Loan

7.00%-13.00%

Estimated APR

1 - 15 Years

Available Terms

Up to Rs.1 L - 20 L

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other features Our Features

  1. Loan amount up to Rs. 1.5 crores for studies abroad and up to Rs. 20 lakhs for studies in India.
  2. Flexible repayment tenure of up to 15 years.
  3. No margin for loans up to Rs. 4 lakhs.
  4. No processing fees.
  5. No prepayment charges.
  6. Tax benefits under Section 80(E) of the Income Tax Act.

Required Documents Kotak Mahindra Bank Documents

  1. Application form: Duly filled and signed by the applicant and co-applicant.
  2. Photograph: Passport size photographs of the applicant and co-applicant.
  3. Identity Proof: Any one of the following - Aadhaar Card, PAN Card, Voter ID, Passport, Driving License.
  4. Address Proof: Any one of the following - Aadhaar Card, Passport, Voter ID, Driving License, Utility Bill.
  5. Income Proof of Co-applicant: Any one of the following - Salary Slip, Form 16, Income Tax Returns.
  6. Proof of Admission: Admission letter from the institute indicating the course, duration, and cost.
  7. Academic Records: Mark sheet of the most recent qualification.
  8. Collateral Documents: Any one of the following - Property documents, Fixed Deposit receipt, LIC policy, NSC certificates.

Fees & Charges Kotak Mahindra Bank Fees & Charges

  1. Processing Fees: No processing fees.
  2. Prepayment Charges: No prepayment charges.
  3. Penal Interest: 2% per month on the overdue amount.
  4. Late Payment Charges: 2% per month on the overdue amount.
  5. Cheque Bounce Charges: Rs. 750 per instance.
  6. EMI Bounce Charges: Rs. 750 per instance.

Think About Kotak Mahindra Bank Think About

  1. Quick loan approval and disbursement.
  2. Competitive interest rates.
  3. No processing fees.
  4. No prepayment charges.
  5. Tax benefits under Section 80(E) of the Income Tax Act.

Eligible Criteria Kotak Mahindra Bank Eligible Criteria

  1. The applicant must be an Indian national.
  2. The applicant must have secured admission to a recognized course in India or abroad.
  3. The applicant must have a co-applicant (parent, spouse, or sibling) who can provide collateral security for the loan.
HDFC Bank

HDFC Bank Education Loan

7.00%-9.00%

Estimated APR

1 - 15 Years

Available Terms

Up to Rs.1 L - 4 L

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other features Our Features

  1. Loan amount up to Rs. 20 lakhs for studies in India and up to Rs. 40 lakhs for studies abroad.
  2. Flexible repayment tenure of up to 15 years.
  3. No margin for loans up to Rs. 4 lakhs.
  4. No processing fees.
  5. No prepayment charges.
  6. Tax benefits under Section 80(E) of the Income Tax Act.

Required Documents HDFC Bank Documents

  1. Application form: Duly filled and signed by the applicant and co-applicant.
  2. Photograph: Passport size photographs of the applicant and co-applicant.
  3. Identity Proof: Any one of the following - Aadhaar Card, PAN Card, Voter ID, Passport, Driving License.
  4. Address Proof: Any one of the following - Aadhaar Card, Passport, Voter ID, Driving License, Utility Bill.
  5. Income Proof of Co-applicant: Any one of the following - Salary Slip, Form 16, Income Tax Returns.
  6. Proof of Admission: Admission letter from the institute indicating the course, duration, and cost.
  7. Academic Records: Mark sheet of the most recent qualification.
  8. Collateral Documents: Any one of the following - Property documents, Fixed Deposit receipt, LIC policy, NSC certificates.

Fees & Charges HDFC Bank Fees & Charges

  1. Processing Fees: No processing fees.
  2. Prepayment Charges: No prepayment charges.
  3. Penal Interest: 2% per month on the overdue amount.
  4. Late Payment Charges: 2% per month on the overdue amount.
  5. Cheque Bounce Charges: Rs. 500 per instance.
  6. EMI Bounce Charges: Rs. 500 per instance.

Think About HDFC Bank Think About

  1. Quick loan approval and disbursement.
  2. Competitive interest rates.
  3. No processing fees.
  4. No prepayment charges.
  5. Tax benefits under Section 80(E) of the Income Tax Act.

Eligible Criteria HDFC Bank Eligible Criteria

  1. The applicant must be an Indian national.
  2. The applicant must have secured admission to a recognized course in India or abroad.
  3. The applicant must have a co-applicant (parent, spouse, or sibling) who can provide collateral security for the loan.
Bank Of Maharashtra

Bank Of Maharashtra Education Loan

7.00%-9.00%

Estimated APR

1 - 15 Years

Available Terms

Up to Rs.1 L - 4 L

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other features Our Features

  1. Loan amount up to Rs. 10 lakhs for studies in India and up to Rs. 20 lakhs for studies abroad.
  2. Flexible repayment tenure of up to 15 years.
  3. No margin for loans up to Rs. 4 lakhs.
  4. No processing fees.
  5. No prepayment charges.
  6. Tax benefits under Section 80(E) of the Income Tax Act.

Required Documents Bank Of Maharashtra Documents

  1. Application form: Duly filled and signed by the applicant and co-applicant.
  2. Photograph: Passport size photographs of the applicant and co-applicant.
  3. Identity Proof: Any one of the following - Aadhaar Card, PAN Card, Voter ID, Passport, Driving License.
  4. Address Proof: Any one of the following - Aadhaar Card, Passport, Voter ID, Driving License, Utility Bill.
  5. Income Proof of Co-applicant: Any one of the following - Salary Slip, Form 16, Income Tax Returns.
  6. Proof of Admission: Admission letter from the institute indicating the course, duration, and cost.
  7. Academic Records: Mark sheet of the most recent qualification.
  8. Collateral Documents: Any one of the following - Property documents, Fixed Deposit receipt, LIC policy, NSC certificates.

Fees & Charges Bank Of Maharashtra Fees & Charges

  1. Processing Fees: No processing fees.
  2. Prepayment Charges: No prepayment charges.
  3. Penal Interest: 2% per month on the overdue amount.
  4. Late Payment Charges: 2% per month on the overdue amount.
  5. Cheque Bounce Charges: Rs. 500 per instance.
  6. EMI Bounce Charges: Rs. 500 per instance.

Think About Bank Of Maharashtra Think About

  1. Quick loan approval and disbursement.
  2. Competitive interest rates.
  3. No processing fees.
  4. No prepayment charges.
  5. Tax benefits under Section 80(E) of the Income Tax Act.

Eligible Criteria Bank Of Maharashtra Eligible Criteria

  1. The applicant must be an Indian national.
  2. The applicant must have secured admission to a recognized course in India or abroad.
  3. The applicant must have a co-applicant (parent, spouse, or sibling) who can provide collateral security for the loan.
IDBI Bank

IDBI Bank Education Loan

7.00%-8.00%

Estimated APR

1 - 15 Years

Available Terms

Up to Rs.1 L - 35 L

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other features Our Features

  1. Loan amount up to Rs. 1.5 crores for studies in India and up to Rs. 35 lakhs for studies abroad.
  2. Flexible repayment tenure of up to 15 years.
  3. No margin for loans up to Rs. 4 lakhs.
  4. No processing fees.
  5. No prepayment charges.
  6. Tax benefits under Section 80(E) of the Income Tax Act.

Required Documents IDBI Bank Documents

  1. Application form: Duly filled and signed by the applicant and co-applicant.
  2. Photograph: Passport size photographs of the applicant and co-applicant.
  3. Identity Proof: Any one of the following - Aadhaar Card, PAN Card, Voter ID, Passport, Driving License.
  4. Address Proof: Any one of the following - Aadhaar Card, Passport, Voter ID, Driving License, Utility Bill.
  5. Income Proof of Co-applicant: Any one of the following - Salary Slip, Form 16, Income Tax Returns.
  6. Proof of Admission: Admission letter from the institute indicating the course, duration, and cost.
  7. Academic Records: Mark sheet of the most recent qualification.
  8. Collateral Documents: Any one of the following - Property documents, Fixed Deposit receipt, LIC policy, NSC certificates.

Fees & Charges IDBI Bank Fees & Charges

  1. Processing Fees: No processing fees.
  2. Prepayment Charges: No prepayment charges.
  3. Penal Interest: 2% per month on the overdue amount.
  4. Late Payment Charges: 2% per month on the overdue amount.
  5. Cheque Bounce Charges: Rs. 500 per instance.
  6. EMI Bounce Charges: Rs. 500 per instance.

Think About IDBI Bank Think About

  1. Quick loan approval and disbursement.
  2. Competitive interest rates.
  3. No processing fees.
  4. No prepayment charges.
  5. Tax benefits under Section 80(E) of the Income Tax Act.

Eligible Criteria IDBI Bank Eligible Criteria

  1. The applicant must be an Indian national.
  2. The applicant must have secured admission to a recognized course in India or abroad.
  3. The applicant must have a co-applicant (parent or spouse) who can provide collateral security for the loan.
ICICI Bank

ICICI Bank Education Loan

8.00%-11.00%

Estimated APR

1 - 10 Years

Available Terms

Up to Rs.1 L - 100 L

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other features Our Features

  1. Loan amount up to Rs. 1 crore for studies in India and up to Rs. 50 lakhs for studies abroad.
  2. Flexible repayment tenure of up to 10 years.
  3. No margin for loans up to Rs. 4 lakhs.
  4. No processing fees.
  5. No prepayment charges.
  6. Tax benefits under Section 80(E) of the Income Tax Act.

Required Documents ICICI Bank Documents

  1. Application form: Duly filled and signed by the applicant and co-applicant.
  2. Photograph: Passport size photographs of the applicant and co-applicant.
  3. Identity Proof: Any one of the following - Aadhaar Card, PAN Card, Voter ID, Passport, Driving License.
  4. Address Proof: Any one of the following - Aadhaar Card, Passport, Voter ID, Driving License, Utility Bill.
  5. Income Proof of Co-applicant: Any one of the following - Salary Slip, Form 16, Income Tax Returns.
  6. Proof of Admission: Admission letter from the institute indicating the course, duration, and cost.
  7. Academic Records: Mark sheet of the most recent qualification.
  8. Collateral Documents: Any one of the following - Property documents, Fixed Deposit receipt, LIC policy, NSC certificates.

Fees & Charges ICICI Bank Fees & Charges

  1. Processing Fees: No processing fees.
  2. Prepayment Charges: No prepayment charges.
  3. Penal Interest: 2% per month on the overdue amount.
  4. Late Payment Charges: 2% per month on the overdue amount.
  5. Cheque Bounce Charges: Rs. 500 per instance.
  6. EMI Bounce Charges: Rs. 500 per instance.

Think About ICICI Bank Think About

  1. Quick loan approval and disbursement.
  2. Easy application process with minimum documentation.
  3. Competitive interest rates.
  4. No processing fees.
  5. No prepayment charges.
  6. Tax benefits under Section 80(E) of the Income Tax Act.

Eligible Criteria ICICI Bank Eligible Criteria

  1. The applicant must be an Indian national.
  2. The applicant must have secured admission to a recognized course in India or abroad.
  3. The applicant must have a co-applicant (parent, spouse, or sibling) who can provide collateral security for the loan.
Citi Bank

Citi Bank Education Loan

8.00%-14.00%

Estimated APR

1 - 15 Years

Available Terms

Up to Rs.1 L - 10 L

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other features Our Features

  1. Loan amount up to Rs. 1 crore for studies abroad and up to Rs. 10 lakhs for studies in India.
  2. Flexible repayment tenure of up to 15 years.
  3. No margin for loans up to Rs. 4 lakhs.
  4. No processing fees.
  5. No prepayment charges.
  6. Tax benefits under Section 80(E) of the Income Tax Act.

Required Documents Citi Bank Documents

  1. Application form: Duly filled and signed by the applicant and co-applicant.
  2. Photograph: Passport size photographs of the applicant and co-applicant.
  3. Identity Proof: Any one of the following - Aadhaar Card, PAN Card, Voter ID, Passport, Driving License.
  4. Address Proof: Any one of the following - Aadhaar Card, Passport, Voter ID, Driving License, Utility Bill.
  5. Income Proof of Co-applicant: Any one of the following - Salary Slip, Form 16, Income Tax Returns.
  6. Proof of Admission: Admission letter from the institute indicating the course, duration, and cost.
  7. Academic Records: Mark sheet of the most recent qualification.
  8. Collateral Documents: Any one of the following - Property documents, Fixed Deposit receipt, LIC policy, NSC certificates.

Fees & Charges Citi Bank Fees & Charges

  1. Processing Fees: No processing fees.
  2. Prepayment Charges: No prepayment charges.
  3. Penal Interest: 2% per month on the overdue amount.
  4. Late Payment Charges: 2% per month on the overdue amount.
  5. Cheque Bounce Charges: Rs. 500 per instance.
  6. EMI Bounce Charges: Rs. 500 per instance.

Think About Citi Bank Think About

  1. Quick loan approval and disbursement.
  2. Competitive interest rates.
  3. No processing fees.
  4. No prepayment charges.
  5. Tax benefits under Section 80(E) of the Income Tax Act.

Eligible Criteria Citi Bank Eligible Criteria

  1. The applicant must be an Indian national.
  2. The applicant must have secured admission to a recognized course in India or abroad.
  3. The applicant must have a co-applicant (parent, spouse, or sibling) who can provide collateral security for the loan.
YES BANK

YES BANK Education Loan

9.00%-13.00%

Estimated APR

1 - 10 Years

Available Terms

Up to Rs.5 L - 10 L

 Apply Now

other features Our Features

  1. Loan amount up to Rs. 1 crore for studies abroad and up to Rs. 10 lakhs for studies in India.
  2. Flexible repayment tenure of up to 10 years.
  3. No margin for loans up to Rs. 4 lakhs.
  4. No processing fees.
  5. No prepayment charges.
  6. Tax benefits under Section 80(E) of the Income Tax Act.

Required Documents YES BANK Documents

  1. Application form: Duly filled and signed by the applicant and co-applicant.
  2. Photograph: Passport size photographs of the applicant and co-applicant.
  3. Identity Proof: Any one of the following - Aadhaar Card, PAN Card, Voter ID, Passport, Driving License.
  4. Address Proof: Any one of the following - Aadhaar Card, Passport, Voter ID, Driving License, Utility Bill.
  5. Income Proof of Co-applicant: Any one of the following - Salary Slip, Form 16, Income Tax Returns.
  6. Proof of Admission: Admission letter from the institute indicating the course, duration, and cost.
  7. Academic Records: Mark sheet of the most recent qualification.
  8. Collateral Documents: Any one of the following - Property documents, Fixed Deposit receipt, LIC policy, NSC certificates.

Fees & Charges YES BANK Fees & Charges

  1. Processing Fees: No processing fees.
  2. Prepayment Charges: No prepayment charges.
  3. Penal Interest: 2% per month on the overdue amount.
  4. Late Payment Charges: 2% per month on the overdue amount.
  5. Cheque Bounce Charges: Rs. 750 per instance.
  6. EMI Bounce Charges: Rs. 750 per instance.

Think About YES BANK Think About

  1. Quick loan approval and disbursement.
  2. Competitive interest rates.
  3. No processing fees.
  4. No prepayment charges.
  5. Tax benefits under Section 80(E) of the Income Tax Act.

Eligible Criteria YES BANK Eligible Criteria

  1. The applicant must be an Indian national.
  2. The applicant must have secured admission to a recognized course in India or abroad.
  3. The applicant must have a co-applicant (parent, spouse, or sibling) who can provide collateral security for the loan.
  4. The applicant must have a minimum annual income of Rs. 3 lakhs.
IndusInd Bank

IndusInd Bank Education Loan

9.00%-15.00%

Estimated APR

12 - 180 Months

Available Terms

Up to Rs.1 L - 25 L

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other features Our Features

  1. Loan amount can be used for tuition fees, accommodation, exam fees, books, and other expenses related to education.
  2. The bank offers flexible repayment options.
  3. No collateral is required for loans up to Rs. 4 lakhs.
  4. The bank provides insurance coverage for the loan amount.

Required Documents IndusInd Bank Documents

  1. Duly filled and signed application form
  2. Passport size photograph of the student and co-applicant
  3. Identity proof such as Aadhaar Card, Voter ID, Passport, or Driving License
  4. Address proof such as Aadhaar Card, Voter ID, Passport, or Driving License
  5. Income proof of the co-applicant such as salary slips, IT returns, or Form 16
  6. Admission letter from the educational institution
  7. Fee structure and cost of living proof from the institution
  8. Any other relevant documents as required by the bank.

Fees & Charges IndusInd Bank Fees & Charges

  1. Processing fee: Up to 2.50% of the loan amount
  2. Prepayment charges: Nil for floating rate loans, 2% for fixed-rate loans
  3. Late payment penalty: 2% per month on the overdue amount
  4. Cheque bounce charges: Rs. 500 per cheque bounce
  5. Legal and incidental charges: As per actuals

Think About IndusInd Bank Think About

  1. Quick and easy loan processing
  2. Competitive interest rates
  3. Flexible repayment options
  4. No collateral required for loans up to Rs. 4 lakhs
  5. Insurance coverage for the loan amount
  6. Experienced customer support team to assist with any queries or concerns.

Eligible Criteria IndusInd Bank Eligible Criteria

  1. The applicant must be an Indian citizen.
  2. The student must have secured admission in a recognized institution in India or abroad.
  3. The co-applicant should be a parent or a legal guardian.
  4. The co-applicant must have a regular source of income.
Tata Capital

Tata Capital Education Loan

9.00%-15.00%

Estimated APR

1 - 10 Years

Available Terms

Up to Rs.1 L - 75 L

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other features Our Features

  • Loan available for studies in India or abroad.
  • Flexible repayment tenure of up to 10 years.
  • No collateral or security required for loans up to Rs. 4 lakhs.
  • Competitive interest rates.

Required Documents Tata Capital Documents

  • Identity proof (PAN card, Aadhaar card, passport, or driving license)
  • Address proof (Aadhaar card, passport, or utility bills)
  • Income proof (salary slips, bank statements, or IT returns)
  • Admission letter from the educational institution
  • Academic records (10th, 12th, and graduation mark sheets)

Fees & Charges Tata Capital Fees & Charges

  • Processing fees: Up to 2% of the loan amount
  • Prepayment charges: Nil
  • Late payment charges: Up to 2% p.m. of the overdue amount
  • Cheque bouncing charges: Rs. 500 per bounce

Think About Tata Capital Think About

  • Flexible repayment options
  • Competitive interest rates
  • No prepayment penalty
  • Quick processing time

Eligible Criteria Tata Capital Eligible Criteria

  • Applicant must be an Indian citizen
  • Age should be between 18-35 years
  • The applicant should have secured admission to a recognized course in India or abroad.
Ujjivan Small Finance Bank Ltd

Ujjivan Small Finance Bank Ltd Education Loan

9.00%-11.00%

Estimated APR

1 - 10 Years

Available Terms

Up to Rs.1 L - 50 L

 Apply Now

other features Our Features

  • Loan available for studies in India or abroad.
  • Flexible repayment tenure of up to 10 years.
  • No collateral or security required for loans up to Rs. 4 lakhs.
  • Competitive interest rates.

Required Documents Ujjivan Small Finance Bank Ltd Documents

  • Identity proof (PAN card, Aadhaar card, passport, or driving license)
  • Address proof (Aadhaar card, passport, or utility bills)
  • Income proof (salary slips, bank statements, or IT returns)
  • Admission letter from the educational institution
  • Academic records (10th, 12th, and graduation mark sheets)

Fees & Charges Ujjivan Small Finance Bank Ltd Fees & Charges

  • Processing fees: Up to 2% of the loan amount
  • Prepayment charges: Nil
  • Late payment charges: Up to 2% p.m. of the overdue amount
  • Cheque bouncing charges: Rs. 500 per bounce

Think About Ujjivan Small Finance Bank Ltd Think About

  • Fast processing and disbursal
  • Loan up to 100% of the cost of education
  • No prepayment penalty
  • Doorstep service

Eligible Criteria Ujjivan Small Finance Bank Ltd Eligible Criteria

  • Applicant must be an Indian citizen
  • Age should be between 18-65 years
  • The applicant should have secured admission to a recognized course in India or abroad.
IIFL Finance Ltd

IIFL Finance Ltd Education Loan

9.00%-11.00%

Estimated APR

1 - 10 Years

Available Terms

Up to Rs.10 L - 50 L

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other features Our Features

  • Loan available for studies in India or abroad.
  • Flexible repayment tenure of up to 10 years.
  • No collateral or security required for loans up to Rs. 20 lakhs.
  • Competitive interest rates.

Required Documents IIFL Finance Ltd Documents

  • Identity proof (PAN card, Aadhaar card, passport, or driving license)
  • Address proof (Aadhaar card, passport, or utility bills)
  • Income proof (salary slips, bank statements, or IT returns)
  • Admission letter from the educational institution
  • Academic records (10th, 12th, and graduation mark sheets)

Fees & Charges IIFL Finance Ltd Fees & Charges

  • Processing fees: Up to 2% of the loan amount
  • Prepayment charges: Nil
  • Late payment charges: Up to 2% p.m. of the overdue amount
  • Cheque bouncing charges: Rs. 500 per bounce

Think About IIFL Finance Ltd Think About

  • Fast processing and disbursal
  • Loan up to 100% of the cost of education
  • No prepayment penalty
  • Doorstep service

Eligible Criteria IIFL Finance Ltd Eligible Criteria

  • Applicant must be an Indian citizen
  • Age should be between 18-35 years
  • The applicant should have secured admission to a recognized course in India or abroad.
Chola

Chola Education Loan

9.00%-15.00%

Estimated APR

1 - 15 Years

Available Terms

Up to Rs.20 L - 30 L

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other features Our Features

  • Loan available for studies in India or abroad.
  • Flexible repayment tenure of up to 15 years.
  • No collateral or security required for loans up to Rs. 10 lakhs.
  • Competitive interest rates.

Required Documents Chola Documents

  • Identity proof (PAN card, Aadhaar card, passport, or driving license)
  • Address proof (Aadhaar card, passport, or utility bills)
  • Income proof (salary slips, bank statements, or IT returns)
  • Admission letter from the educational institution
  • Academic records (10th, 12th, and graduation mark sheets)

Fees & Charges Chola Fees & Charges

  • Processing fees: Up to 2% of the loan amount
  • Prepayment charges: Nil
  • Late payment charges: Up to 2% p.m. of the overdue amount
  • Cheque bouncing charges: Rs. 500 per bounce

Think About Chola Think About

  • Fast processing and disbursal
  • Loan up to 100% of the cost of education
  • No prepayment penalty
  • Doorstep service
  • Dedicated relationship manager for assistance

Eligible Criteria Chola Eligible Criteria

  • Applicant must be an Indian citizen
  • Age should be between 18-35 years
  • The applicant should have secured admission to a recognized course in India or abroad.
InCred

InCred Education Loan

9.00%-11.00%

Estimated APR

1 - 10 Years

Available Terms

Up to Rs.1 L - 50 L

 Apply Now

other features Our Features

  • Loan available for studies in India or abroad.
  • Flexible repayment tenure of up to 10 years.
  • No collateral or security required for loans up to Rs. 50 lakhs.
  • Competitive interest rates.

Required Documents InCred Documents

  • Identity proof (PAN card, Aadhaar card, passport, or driving license)
  • Address proof (Aadhaar card, passport, or utility bills)
  • Income proof (salary slips, bank statements, or IT returns)
  • Admission letter from the educational institution
  • Academic records (10th, 12th, and graduation mark sheets)

Fees & Charges InCred Fees & Charges

  • Processing fees: Up to 2% of the loan amount
  • Prepayment charges: Nil
  • Late payment charges: Up to 2% p.m. of the overdue amount
  • Cheque bouncing charges: Rs. 500 per bounce

Think About InCred Think About

  • Fast processing and disbursal
  • Loan up to 100% of the cost of education
  • No prepayment penalty
  • Doorstep service
  • Easy online application process

Eligible Criteria InCred Eligible Criteria

  • Applicant must be an Indian citizen
  • Age should be between 18-35 years
  • The applicant should have secured admission to a recognized course in India or abroad.
Aditya Birla Capital

Aditya Birla Capital Education Loan

10.00%-13.00%

Estimated APR

1 - 15 Years

Available Terms

Up to Rs.5 L - 40 L

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other features Our Features

  1. Loan amount up to Rs. 1.5 crores for studies abroad and up to Rs. 40 lakhs for studies in India.
  2. Flexible repayment tenure of up to 15 years.
  3. No margin for loans up to Rs. 4 lakhs.
  4. No processing fees.
  5. No prepayment charges.
  6. Tax benefits under Section 80(E) of the Income Tax Act.

Required Documents Aditya Birla Capital Documents

  1. Application form: Duly filled and signed by the applicant and co-applicant.
  2. Photograph: Passport size photographs of the applicant and co-applicant.
  3. Identity Proof: Any one of the following - Aadhaar Card, PAN Card, Voter ID, Passport, Driving License.
  4. Address Proof: Any one of the following - Aadhaar Card, Passport, Voter ID, Driving License, Utility Bill.
  5. Income Proof of Co-applicant: Any one of the following - Salary Slip, Form 16, Income Tax Returns.
  6. Proof of Admission: Admission letter from the institute indicating the course, duration, and cost.
  7. Academic Records: Mark sheet of the most recent qualification.
  8. Collateral Documents: Any one of the following - Property documents, Fixed Deposit receipt, LIC policy, NSC certificates.

Fees & Charges Aditya Birla Capital Fees & Charges

  1. Processing Fees: No processing fees.
  2. Prepayment Charges: No prepayment charges.
  3. Penal Interest: 2% per month on the overdue amount.
  4. Late Payment Charges: 2% per month on the overdue amount.
  5. Cheque Bounce Charges: Rs. 500 per instance.
  6. EMI Bounce Charges: Rs. 750 per instance.

Think About Aditya Birla Capital Think About

  1. Competitive interest rates.
  2. No processing fees.
  3. No prepayment charges.
  4. Tax benefits under Section 80(E) of the Income Tax Act.

Eligible Criteria Aditya Birla Capital Eligible Criteria

  1. The applicant must be an Indian national.
  2. The applicant must have secured admission to a recognized course in India or abroad.
  3. The applicant must have a co-applicant (parent, spouse, or sibling) who can provide collateral security for the loan.
  4. The applicant must have a minimum annual income of Rs. 5 lakhs.
Standard Chartered Bank

Standard Chartered Bank Education Loan

10.00%-15.00%

Estimated APR

1 - 10 Years

Available Terms

Up to Rs.1 L - 40 L

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other features Our Features

  • Loan available for studies in India or abroad.
  • Flexible repayment tenure of up to 10 years.
  • No collateral or security required for loans up to Rs. 40 lakhs.
  • Competitive interest rates.
  • Option for moratorium period.

Required Documents Standard Chartered Bank Documents

  • Identity proof (PAN card, Aadhaar card, passport, or driving license)
  • Address proof (Aadhaar card, passport, or utility bills)
  • Income proof (salary slips, bank statements, or IT returns)
  • Admission letter from the educational institution
  • Academic records (10th, 12th, and graduation mark sheets)
  • KYC documents of co-applicant (if applicable)

Fees & Charges Standard Chartered Bank Fees & Charges

  • Processing fees: Up to 1.5% of the loan amount
  • Prepayment charges: Nil
  • Late payment charges: Up to 2% p.m. of the overdue amount
  • Cheque bouncing charges: Rs. 500 per bounce

Think About Standard Chartered Bank Think About

  • Fast processing and disbursal
  • Loan up to 100% of the cost of education
  • No prepayment penalty
  • Doorstep service
  • Easy online application process

Eligible Criteria Standard Chartered Bank Eligible Criteria

  • Applicant must be an Indian citizen
  • Age should be between 18-35 years
  • The applicant should have secured admission to a recognized course in India or abroad.
  • Co-applicant may be required for certain loan amounts.
Fullerton India

Fullerton India Education Loan

11.00%-15.00%

Estimated APR

Up to 15 Years

Available Terms

Up to Rs.1 L - 50 L

 Apply Now

other features Our Features

  • Loan amount ranges from Rs. 1 lakh to Rs. 50 lakhs
  • Competitive interest rates
  • Flexible repayment tenure of up to 15 years
  • No collateral required for loans up to Rs. 7.5 lakhs
  • No prepayment charges
  • Loan disbursement directly to the educational institution

Required Documents Fullerton India Documents

  • Completed application form
  • Identity proof
  • Address proof
  • Admission letter from the institution
  • Academic records of the applicant
  • Income proof of the co-applicant

Fees & Charges Fullerton India Fees & Charges

  • Processing fee: Up to 3% of the loan amount
  • Penal interest: 2% per month on overdue amount
  • Prepayment charges: Nil

Think About Fullerton India Think About

  • Hassle-free loan application process
  • Competitive interest rates
  • No prepayment charges
  • Loan disbursement directly to the educational institution
  • Flexible repayment tenure of up to 15 years
  • No collateral required for loans up to Rs. 7.5 lakhs

Eligible Criteria Fullerton India Eligible Criteria

  • Applicant should be an Indian citizen or have Indian nationality
  • Applicant should have secured admission to a recognized course in India or abroad
  • Applicant should have a co-applicant, who could be the parent, spouse or any other close relative
  • The co-applicant should have a stable income source
Home Credit

Home Credit Education Loan

12.00%-15.00%

Estimated APR

1 - 5 Years

Available Terms

Up to Rs.1 L - 2 L

 Apply Now

other features Our Features

  • Loan available for studies in India or abroad.
  • Flexible repayment tenure of up to 5 years.
  • No collateral or security required for loans up to Rs. 2 lakhs.
  • Competitive interest rates.

Required Documents Home Credit Documents

  • Identity proof (PAN card, Aadhaar card, passport, or driving license)
  • Address proof (Aadhaar card, passport, or utility bills)
  • Income proof (salary slips, bank statements, or IT returns)
  • Admission letter from the educational institution
  • Academic records (10th, 12th, and graduation mark sheets)

Fees & Charges Home Credit Fees & Charges

  • Processing fees: Up to 2% of the loan amount
  • Prepayment charges: Nil
  • Late payment charges: Up to 3% p.m. of the overdue amount
  • Cheque bouncing charges: Rs. 500 per bounce

Think About Home Credit Think About

  • Fast processing and disbursal
  • Loan up to 100% of the cost of education
  • No prepayment penalty
  • Easy online application process

Eligible Criteria Home Credit Eligible Criteria

  • Applicant must be an Indian citizen
  • Age should be between 18-45 years
  • The applicant should have secured admission to a recognized course in India or abroad.
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