Who is eligible for an education loan from Tata Capital?

Tata Capital offers education loans to students who can fulfill the following eligibility criteria: They must be a citizen of India The age must be between 18 and 35 years Must have completed 10+2 or a diploma from a recognized Board/Institution Co-borrower (father, mother, spouse, or sibling) must have a good credit score

What documents are required for an education loan application?

The following documents are required to apply for an education loan: Photo ID proof - PAN Card, Aadhaar Card, Voter ID Card, or Passport Address proof - Voter ID Card, Passport, Driving License, or Aadhaar Card PAN Card or Form 60 Income Proof - Salary slips, ITRs, or bank statements Recent passport-sized photographs Academic documents - 10th mark sheet, 12th mark sheet, available semester mark sheet/transcript, degree, entrance exam scores (GRE, IELTS, TOEFL, GMAT, other)

What is the application process for an education loan?

With Tata Capital, you can apply for an education loan online or offline. To apply offline, you can visit your nearest Tata Capital branch and get in touch with our executive. To apply online, follow these steps: 1. Visit our website and click on the “Apply Now” button in the “Education Loan” section. 2. Fill in your basic details and upload the required documents. 3. Wait for the verification process to complete and subsequent approval and disbursal of the amount.

What types of courses and institutions are covered by the Tata Capital education loan?

Tata Capital provides education loans for the following courses from a recognized college or university in India or abroad: Graduation/post-graduation degree Executive and other courses PhD Vocational or professional courses

Home
Education Loan

Loan for Education

Unsecured Student Loan up to ₹85 Lakhs*
Pre-Admission Loan Sanction

Covers All Expenses for Education

Overview

Get Instant Education Loan

Overview Document Required Rates and Charges EMI Calculator

Get an Education Loan Up to ₹ 2 Crore*

We, at Tata Capital, align with the Tata Group’s commitment to Education. We believe that education is the key to a nation’s progress & a brighter future. Thereby, quality education should be accessible to all socio–economic backgrounds. With a thorough understanding of the transformative power of higher education, Tata Capital is now introducing education loans for students in India to enable them to pursue higher education, both in India & Overseas, thereby facilitating their personal and professional growth.

We are here to empower your dreams with our tailored personal loans for students.

Disclaimer: Education Loans are at the sole discretion of Tata Capital Limited (TCL).

Loan amount offered

Upto ₹ 85 Lakhs unsecured

Upto ₹ 2 crore secured

Loan tenure

Upto 13 Years

Interest rate

9.50* to 18%

Education Loan Interest Rates & Charges

Education Loan – TCL Retail Prime Lending Rates (TCL RPLR)

We offer education loans at competitive interest rates with transparent charges to make your academic journey stress-free. Check the table below for detailed information on our current education loan rates, fees, and applicable charges.

Effective From	TCL RPLR
September 1st 2024	11.50%
May 1st 2024	11.30%

Note: The above PLR will be applicable for the cases disbursed on or after May 1st, 2024.

Effective From	TCL RPLR
March 11th 2024	15.25%
December 22nd 2023	15.00%

Note: The above PLR will be applicable for the cases disbursed before May 1st, 2024.

Penal Charges

Penal Charges, if any, in case of delayed payments

3% per month on the overdue amount

Dishonor of any cheque/
payment instruments

These are those charges that are levied in case of an EMI bounce per instance. In other words, these charges are levied when you miss paying the EMI of an education loan due to inadequate funds in your bank account. At Tata Capital, you’ll be required to pay Rs. 600 per instrument per instance.

Mandate Rejection Service Charge

Charges will be levied if a new mandate form is not registered within 30 days from the date of rejection of the previous mandate form by the borrower’s bank for any reason whatsoever. Tata Capital charges a nominal amount of Rs. 450 + GST.

Other Charges

Foreclosure Charges, if applicable

Charges for switching of loans from floating to fixed rate and vice versa

Part Payment Charges

NIL

Payment Instruments Swapping Charges

Cancellation Charges

Duplicate Repayment Schedule

Duplicate NOC

Outstation Collection Charges

At Actuals

Statement of Account (SOA)

Customer Portal – Nil

Branch walk-in – Rs. 250/-

Foreclosure Letter

Nil

Processing Fee

Up to 2% + applicable taxes

For the issue of a duplicate copy of the agreement

Nil

List of Documents
(LOD) Statement charges

Nil

Provisional Interest certificate charges

Nil

Final Interest certificate charges

Nil

Other Statement request charges

Nil

ROC Charges

Nil

Legal and Technical Charges (in case of secured)

RS. 5000/-

Document retrieval charges (in case of secured)

Rs. 5,000/-

CERSAI Charges (non-refundable)

For loans up to Rs. 5 lakh - Rs. 50 (per filing/modification)

For loans above Rs. 5 lakh - Rs. 100 (per filing/modification)

Or such other charges as may be stipulated by the Central Registry from time to time

Note: GST, other government taxes and levies as applicable, will be payable on all fees and charges

Education Loan Eligibility

Factor	Eligibility
Nationality	Indian
Age	18 to 35 years
Qualification	Completed 10+2/diploma
To pursue course	Graduation/Postgraduate degree or a PG diploma in professional education
University applied to	Listed, recognized, and accredited institutes in India and abroad
Basis for loan sanction	Pre-admission sanction Entrance exam scores like GRE, GMAT etc. 12th/HSC results Confirmed admission
Loan amount	Up to Rs. 85 lakh unsecured Up to Rs. 2 crore secured
Co-borrower	Father, mother, brother, sister, spouse (husband/wife), grandparents, parents-in-law, maternal/paternal uncle
Security	Property, fixed deposit, Existing Tata Capital home loan for cross collateral.

Disclaimer: The aforementioned values, calculations and results are for illustrative and informational purposes only and may vary basis various parameters laid down by Tata Capital.

Documents Required for an Education Loan

Photograph
Photo Identity Proof
A copy of your Voter ID / Passport / Driving License / Aadhaar Card
Permanent Account Number OR Form 60 (wherever applicable)
Address Proof:
A copy of your Voter ID / Passport / Driving License / Aadhaar Card
Signature Verification
Income Proof- Submit Form 16 for the last 2 years and a copy of your bank statements for the last 6 months
Salary Slips
A Copy of your Salary slips for the last three months

Photograph
Photo Identity Proof
A copy of your Voter ID / Passport / Driving License / Aadhaar Card
Permanent Account Number OR Form 60 (wherever applicable)
Address Proof- A copy of your Voter ID / Passport / Driving License / Aadhaar Card
Signature Verification
Income Proof
Income Tax Return, Profit and Loss, Balance Sheet & a copy of your bank statements for the last 6 months

How to apply for an education loan?

Online Application for Student Loan

Want maximum convenience when applying for an education loan for students? Apply online through our website by just filling up your basic details.

Document Submission

Post receiving your basic loan eligibility, furnish the required documents to take your application further.

Verification

We will verify your application and submitted documents.

Approval & Sanction

Post approval, the loan is sanctioned.

Disbursal

Receive the amount in the bank account - it's that simple!

Features & Benefits of an Education Loan

Tata Capital’s education loan in India is designed to ease the financial load of pursuing higher studies. Here’s what makes it a reliable choice:

High Loan Amount

Get ample funding to cover tuition, accommodation, travel, and other academic costs.

Attractive Interest Rates

Benefit from competitive rates that make repayment easier for students and families.

Pre-Admission Sanction

Secure your loan even before you receive admission confirmation.

No Margin Money Required

Cover the entire cost of education without needing to contribute from your pocket.

Covers Various Courses

Apply for funding across undergraduate, postgraduate, professional, or vocational programs.

Easy Disbursal

Enjoy a quick and efficient loan disbursal process to meet payment deadlines without stress.

Apply with a Guardian

Students can strengthen their application by applying jointly with a parent or guardian.

Why Should I Apply for an Education Loan at Tata Capital?

Affordable & Quality Education

Don't let tuition fees or educational expenses hold you back from pursuing your dreams. Our quality education must be accessible to all, regardless of financial constraints.

Flexible Repayment Options

We provide education loan repayment options where you can start paying after completing your education, so that you can focus on your studies without any immediate financial burden.

Competitive Interest Rates

Enjoy competitive education loan interest rates that make borrowing affordable and manageable. We understand the importance of keeping your financial burden low while you invest in your education.

No Collateral Required

With our unsecured education loans (i.e., Education Loan without Collateral), you don’t need to worry about providing collateral. We want to help your dreams become a reality, without any additional burden, with a non-collateral loan.

Quick Hassle-free Process

Our Education Loan Application process is short and simple. We value your time and to ensure that your experience is hassle-free, we have a dedicated team to assist you at every step.

Expert Financial Guidance

Our financial experts are equipped to provide you with personalized guidance and support. We'll help you make informed decisions about your education financing, ensuring that you choose the right loan for your needs.

Courses Eligible for an Education Loan from Tata Capital

At Tata Capital, we offer Student Loans (Secured & Unsecured) for courses in India and Overseas. You can find the list of courses eligible for an Education Loan from Tata Capital below.

Courses Covered in India & Overseas

Graduation/post-graduation degree from recognized universities
Executive & other courses from reputed universities
PhD
Between the ages of 18- 45 years, pursuing Undergraduate / Postgraduate Program, Executive and other courses in India or Overseas.

Education Loan EMI Calculator

Use Tata Capital’s education loan EMI calculator to estimate your monthly repayment amount instantly. Simply enter your loan amount, tenure, and interest rate to plan your finances better and manage your education loan efficiently before applying.

Education loan offerings

Education loans come in different types to meet diverse academic needs.

Domestic education loans: For students pursuing higher studies at recognized institutions within India.
Overseas education loans: Designed for students planning to study at international universities or colleges.
Professional course loans: For specialized fields like medicine, engineering, management, or law.
Vocational training loans: Support short-term skill development or technical training programs.
Career development loans: For working professionals looking to upgrade skills or pursue executive education.

Central Sector Interest Subsidy Scheme

The Central Sector Interest Subsidy (CSIS) Scheme aims to make higher education affordable for students from economically weaker sections. Under this scheme, the government pays interest on education loans during the moratorium period, which is one year beyond the course duration.

To avail the subsidy, students must have a family income of up to Rs. 4.5 lakh per year and should apply for the loan under the Model Education Loan Scheme through scheduled banks. You can increase your eligibility by submitting income certificates and relevant documents. This scheme effectively reduces the financial burden on students, encouraging them to pursue quality education without worrying about early repayments.

FAQs on Loan for Education

An education loan is a credit instrument that allows you to arrange finances for your higher education, be it in India or abroad. You can avail of an education loan to cover a range of expenses, including tuition fees, examination and library charges, costs for books, equipment, etc., and sometimes even living expenses. Usually, the repayment tenure for an education loan begins after a moratorium period after course completion.

Tata Capital offers education loans to students who can fulfill the following eligibility criteria:

They must be a citizen of India
The age must be between 18 and 35 years
Must have completed 10+2 or a diploma from a recognized Board/Institution
Co-borrower (father, mother, spouse, or sibling) must have a good credit score

The rate of interest for your education loan depends on whether it’s secured or unsecured. With Tata Capital, you can avail of an education loan at a highly competitive interest rate, starting from just 9.50% per annum. The charges for the same are mentioned below:

3% penal charges for late payments
Processing fee of up to 2%
Legal/technical charges of Rs. 5000
Instrument dishonor or swapping charges as applicable

The following documents are required to apply for an education loan:

Photo ID proof - PAN Card, Aadhaar Card, Voter ID Card, or Passport
Address proof - Voter ID Card, Passport, Driving License, or Aadhaar Card
PAN Card or Form 60
Income Proof - Salary slips, ITRs, or bank statements
Recent passport-sized photographs

Academic documents - 10th mark sheet, 12th mark sheet, available semester mark sheet/transcript, degree, entrance exam scores (GRE, IELTS, TOEFL, GMAT, other)

With Tata Capital, you can apply for an education loan online or offline. To apply offline, you can visit your nearest Tata Capital branch and get in touch with our executive. To apply online, follow these steps:

1. Visit our website and click on the “Apply Now” button in the “Education Loan” section.
2. Fill in your basic details and upload the required documents.
3. Wait for the verification process to complete and subsequent approval and disbursal of the amount.

Usually, it takes up to 7-15 working days to approve and disburse education loans. However, the exact time depends on your ability to meet the eligibility criteria, completeness of documents provided, etc.

Tata Capital provides education loans for the following courses from a recognized college or university in India or abroad:

Graduation/post-graduation degree
Executive and other courses
PhD
Vocational or professional courses

Tata Capital education loans are provided for a range of expenses, including tuition fees or course fees, examination and library charges, costs for books, equipment, laptop, etc., and sometimes even living expenses (accommodation, food, utility bills, etc.)

The minimum and maximum loan amount depends on whether you have opted for a secured or unsecured loan. With Tata Capital, you can avail of an unsecured education loan of up to Rs. 85 lakh and a secured education loan of up to Rs. 2 crore.

With Tata Capital, you can avail of an education loan for a tenure of up to 13 years. The repayment tenure usually begins after a moratorium period post course completion.

Education loans are meant for students who typically don't have salaries. However, they may need a financially stable co-applicant with verifiable income to become eligible for the loan.

You may or may not require collateral to avail of an education loan from Tata Capital. We provide collateral-free loans of up to Rs. 85 lakh. If you need a higher amount, you may need to pledge an asset as collateral.

Yes. You can pre-pay your education loan to reduce your EMI amount. Usually, lenders charge a part-payment fee for the same, but at Tata Capital, there are no foreclosure or pre-payment charges for education loans.

Yes. A guarantor or co-applicant is typically required to be eligible for an education loan. They can be your parents, siblings, or spouse. Remember that the co-applicant is equally responsible for loan repayment.

Yes. Tata Capital provides 100% funding for select courses at select universities in India or abroad. It means that you won’t incur any expenses out of your pocket for pursuing these courses. Contact our customer support team for the complete list of courses and universities.

Yes. The interest paid towards an education loan is available for tax deductions under Section 80E of the Income Tax Act. There is no limit on the deduction amount for interest payments. However, these deductions are available only for individual taxpayers under the old tax regime.

Yes, most lenders require proof of confirmed admission to a recognized institution before approving an education loan. It ensures the loan is granted for a genuine academic purpose.

Yes, working professionals can apply for education loans to pursue higher studies or executive programs in India or abroad.

You can improve your eligibility by maintaining a good credit score, submitting accurate documentation, and adding a co-applicant with a stable income.

Yes, an NRI parent can be a co-applicant if they meet the lender’s eligibility criteria and provide the necessary financial and identity documents. Some lenders require a resident Indian co-applicant who fulfills the bank’s Know Your Customer (KYC) guidelines.