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.
Check Loan Eligibility in 2 Minutes
Compare rates from 30+ lenders without affecting your credit score
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.