About Education Loan

Educational loans bridges the gap between the ‘students’ from lower background and ‘education’ that enlightens the knowledge of one’s future development. One can be benefited in many ways taking the educational loan.

Repayment of the loan is easier with flexible time duration after the course has got completed and even after getting placements.

Loans can support your education in and around India. Loans for education that are taken in abroad are also secure with medical supports and safety.

Students who dream to become a professional with the higher studies are more benefited by the service offered on loans.

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Loan for Education in India

This type of loan is designed for students pursuing education in India, and covers the cost of tuition fees, books, and other related expenses.

Loan for Education Overseas

This type of loan is designed for students pursuing education overseas, and covers the cost of tuition fees, travel expenses, living expenses, and other related expenses.

Loan for Professional Courses

This type of loan is designed for students pursuing professional courses, such as engineering, medicine, law, and architecture.

Postgraduate Education Loan

This type of loan is designed for students pursuing postgraduate studies, such as a master’s degree or PhD.

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Features of Education Loan

Our education loans offer the flexibility and convenience you need to achieve your academic dreams.

Loan Amount

Education loans in India can cover up to 100% of the tuition fees and other related expenses, depending on the loan type and the lender. The loan amount may also depend on the student’s academic performance, family income, and the course of study.

Repayment Tenure

The repayment tenure for education loans in India can range from 5 to 15 years, depending on the loan type and the lender. Some lenders may also offer a moratorium period, where the borrower is not required to repay the loan until after the course is completed.


Education loans in India may be secured or unsecured, depending on the loan amount and the lender’s policy. Some lenders may require collateral, such as a property or a fixed deposit, to secure the loan.

Tax Benefits

Repayment of education loans in India is eligible for tax deductions under Section 80E of the Income Tax Act. The borrower can claim the interest paid on the loan as a deduction from their taxable income.

Education Loan - Eligibility

Education loans can be very helpful for students and their families in financing their education. Here are some ways that education loans can help.


The applicant must have secured admission to a recognized course of study in India or abroad.

Course Eligibility

The course of study must be approved by a recognized authority or institution, and may include undergraduate, postgraduate, vocational, or professional courses.

Academic Performance

The applicant must have a good academic record, with a minimum of 50% marks in the qualifying examination.

Frequently Ask Questions

Check below questions to get more clarity about the loans.

You will need to furnish the following documents along with the completed application form. Relevant information would relate to the guardian and the student both, when the loan is jointly taken.

  • Mark sheet of last qualifying examination for school and graduate studies in India
  • Proof of admission to the course
  • Schedule of expenses for the course
  • Copies of letter confirming scholarship, etc.
  • Copies of foreign exchange permit, if applicable.
  • 2 passport size photographs
  • Statement of Bank account for the last six months of borrower
  • Income tax assessment order not more than 2 years old
  • Brief statement of assets and liabilities of borrower.
  • KYC Documents of both applicant and co applicant

If you are not an existing bank customer you would also need to establish your identity and give proof of residence.

EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components. Your EMI would be calculated depending on the tenor you choose, to repay your loan. The EMI would be higher if you choose to repay within a shorter period as against a longer-term loan. A shorter repayment period, however, reduces your interest cost over the term of the loan.

Education loans can be used for paying:

  • Tuition fees and hostel expenses
  • Exam, library, and lab fees if applicable
  • Any refundable caution deposits paid to the educational institute
  • Cost of books, uniforms, and other essentials for completion of course
  • Travel expenses (return fare for international flights.

Yes, for all full-time courses a co applicant is required. The co-applicant can be Parent/Guardian or Spouse (if-married).

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Now apply for a Education Loan online, All you need to do is provide your details below application form.