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What is an Education Loan?

Dreaming big about your studies? An education loan helps you cover tuition fees, books, travel, or living expenses – whether in India or abroad. With easy repayment after studies, it’s the smartest way to invest in your future without worrying about money today.

Types of Education Loans
  • Domestic Education Loan: Finance your studies at universities and colleges within India.
  • Overseas Education Loan: Cover tuition, travel, and living expenses for studying abroad.
  • Undergraduate Loan: Support your bachelor’s degree with stress-free financing.
  • Postgraduate Loan: Get funds for master’s programs or higher studies with flexible repayment.
  • Professional Course Loan: Tailored for medicine, engineering, MBA, and other specialized courses.
  • Career Development Loan: Perfect for short-term certifications, skill-building, or executive programs.
Key Benefits
Covers All Expenses

Tuition fees, books, travel, accommodation, and more included.

Quick Approvals

Fast processing and minimal paperwork so you can focus on your studies.

Affordable Interest Rates

Competitive EMIs to make financing your education stress-free.

Flexible Repayment

Start repayment after completing your course with comfortable tenure options.

Education Loan Eligibility Criteria

The eligibility criteria for Education loans vary across lenders but generally include the following factors:

Basic Eligibility
  • The minimum age required is 18 years at the time of application.
  • A co-applicant such as a parent or guardian with a steady source of income is mandatory.
Income Requirements
Employment Type Minimum Income
Salaried Individuals ₹25,000 per month
Self-Employed Professionals ₹3,00,000 per annum
Self-Employed Educationmen ₹4,00,000 per annum
How to Improve Eligibility
1
Maintain Good Credit Score

Pay all EMIs and credit card bills on time to maintain score above 750

2
Reduce Existing Debt

Lower your existing debt-to-income ratio by paying off other loans

3
Show Additional Income

Include all income sources like rent, investments, etc.

4
Add Co-applicant

Increase eligibility by adding earning family member as co-applicant

Documents Required for Education Loan

Personal Documents
  • Aadhaar Card
  • PAN Card
  • Proof of Age and Address
Academic Documents
  • Admission Letter from College/University
  • Previous Academic Records (Marksheets, Certificates)
Collateral / Additional (if applicable)
  • Property Documents (if loan is secured)
Financial Documents
  • Bank Statements (last 6 months)

Education Loan Features & Benefits

Study Anywhere

Loans available for both domestic and international education.

Tailored for Students

Covers tuition, travel, and living expenses to support your academic journey.

Frequently Asked Questions

Yes, education loans are available for both domestic and international studies.

The amount depends on the course, institution, and your profile — usually covering tuition and related expenses.

Loans up to a certain limit may not need collateral, while higher amounts may require security.

Repayment generally begins after completing your course, with a grace period (moratorium) included.

Tuition fees, hostel charges, books, travel (for abroad), and other academic expenses are covered.

Yes, parents or guardians usually act as co-applicants for education loans.