Education Loan
Fund Your Future Ambitions
Focus on your studies while we take care of the finances. Cover 100% of your tuition, hostel, and travel expenses with education loans starting at 8.15% p.a.
- Rates from 8.15% p.a.
- 100% Cost Coverage
- Tax Benefit Sec 80E
- Repayment Moratorium
Check Loan Eligibility
Discover funding options for your dream university.
Education Loan Interest Rates
Compare offerings from specialized education lenders and public sector banks providing domestic and international study loans.
| Bank / Lender | Interest Rate (p.a.) | Processing Fee | Max Loan Amount |
|---|---|---|---|
| State Bank of India (SBI) | 8.15% - 10.75% | Up to ₹10,000 (Nil for some courses) | Up to ₹1.5 Crore |
| Punjab National Bank (PNB) | 8.25% - 10.50% | 1% of loan amount for abroad studies | Need-based (No upper limit for abroad) |
| HDFC Credila | 10.50% - 13.00% | 1% to 2% of the loan amount | Need-based (No specific upper limit) |
| Axis Bank | 8.95% - 12.00% | Up to 2% of loan amount + GST | Up to ₹40 Lakhs (Unsecured) |
| Avanse Financial Services | 10.00% - 14.50% | 1% to 2% of loan amount | 100% cost of education |
Eligibility and Documents
Review the criteria required for both the student applicant and the financial co-applicant (parent/guardian).
Eligibility Criteria
- Citizenship: Must be an Indian citizen.
- Admission: Confirmed admission in recognized university/college in India or abroad.
- Course: Degree/Diploma courses recognized by UGC/AICTE/Govt.
- Co-Applicant: Earning parent/guardian/spouse with a stable income and good CIBIL score is required.
Documents Required
- Academic: Admission letter, fee structure, past mark sheets (10th, 12th, Graduation).
- Identity Proof: PAN Card, Aadhaar Card for student and co-applicant.
- Co-Applicant Income: Last 3 months' salary slips, 6 months' bank statements, and ITR/Form 16.
- Collateral: Property documents/FD receipts (if loan exceeds unsecured limits).
Frequently Asked Questions
While there is no single fixed cutoff, a credit score of 720 to 750 or above is generally considered favorable by most banks and financial institutions. A higher score increases your chances of approval and helps you secure lower interest rates and higher loan amounts.
Yes, it is possible to secure a personal loan with a lower credit score (under 650), but you may face higher interest rates, a smaller loan amount, or shorter repayment tenures. Additionally, applying with a co-signer who has strong credit or offering collateral (where applicable) can improve your chances.
The general documents required include: 1) Proof of Identity (PAN Card, Aadhaar Card, Passport, etc.), 2) Proof of Address (Passport, Utility Bills, Aadhaar Card), 3) Income Proof (Salary slips for the last 3 months, Form 16, or ITR for self-employed), and 4) Bank statements for the last 3 to 6 months.
Thanks to digital integrations, basic approval (pre-approval) on aggregator platforms like ours can happen in a few minutes. Final verification and disbursement by the lender typically takes between 24 to 48 working hours, depending on physical verification or documentation completion.