I want to study abroad, can I utilise a personal loan for that?

While a personal loan can help you fund your education abroad, anPersonal Loan for Education is a better option. This is because, at Tata Capital, we offer customised plans with quick approval, minimal documentation, and competitive interest rates.Further, our loan covers a variety of expenses, such as,Tuition feeHostel feeInsurance premiumTravel expenses for students studying abroadLaboratory/examination/library feesLaptop/computer costsCost of equipment/books/uniformCaution depositAt Tata Capital, we help reduce your financial burden, enabling you to focus better on your education goals.

Do you need any particular documentation to apply for a personal loan for a school?

Personal loans for education are only applicable to higher education.For a smooth application process for your Tata Capital personal loan for education, you need to furnish the following documents.KYC documentsResidence proofIdentity proofAcademic documents such as admission letters, mark sheets, final certificatesFinancial documents such as income tax returns, bank statementsThe applicant must submit the above documents with the duly filled application form.

If I have a poor credit history, am I still eligible for a personal loan for higher education?

While a poor credit history can negatively impact your personal loan for higher education, Tata Capital takes into account other conditions as well. These include,The co-applicant’s profile, including past salary slips, proof of income tax return of the previous two years etc.The value of collateral attached to the application, orThe creditworthiness of your guarantorThese criteria and other factors, such as academic record and a minimum monthly income of Rs 15000, help determine whether the loan application can be approved.

How long does it take for a personal loan for education to get approved?

With Tata Capital, your personal loan for education can get approved within days of applying. All you need to do is ensure you meet the following eligibility criteria.The applicant must be between 16 – 26 years of ageThe applicant should have a good academic recordThe applicant or co-applicant must have a minimum monthly income of Rs 15000The applicant must offer collateral or a guarantorIf you meet all the above criteria and furnish all required documents, you could receive your loan in a matter of days.

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Personal Loan for Education

Personal Loan for Education

What is Personal Loan for Education?

Are you ready to advance your education? Don't let expensive college fees hold you back. With Tata Capital's Personal Loan for Education, you can conveniently fund your education, both in India and abroad. Enjoy a quick approval, minimal documentation, and competitive interest rates, with our customized plans.

Your financial background should not stop you from receiving the best education. This is why our Personal Loans for Education are quick, accessible, and convenient.

To apply for a Personal Loan for Education with Tata Capital, all you need to do is submit your mark sheet and certificates, admission letter, documents for studying abroad, and other identity proofs. And you're ready to ace your desired field!

Disclaimer: Personal Loans are originated and serviced by Tata Capital Financial Services Limited (TCFSL) and are at its sole discretion. Terms and conditions apply.

Loan Amount

₹ 40,000 - ₹ 35,00,000

Loan Tenure

Upto 6 years

Interest rate starting @

10.99% p.a

View Rates & Charges

Advantages

Customised Solutions

Your education needs are unique. That’s why we let you tailor the loan based on your needs. Your loan for education can cover tuition fees, hostel charges, cost of books, etc.

Easy Repayment Options

You have the flexibility and control over how you want to repay your Personal Loan for Education. Apply online for the option that best suits you.

Minimal Paperwork

We pave the way for your bright future by making the process easy and accessible.

Quick Approval

Submit just a few documents with your application and get your loan sanctioned.

How to Check Eligibility for Personal Loan for Education?

In order to get an Personal Loan for Education, you have to meet some basic eligibility criteria and documents for faster approval. At Tata Capital, we ask you to fulfil the following conditions –

You must be an Indian national

Your age should be between 16-26 years

You must have a good past academic record

Either you or your parents should earn a minimum monthly income of Rs. 15,000

You should either have a guarantor or show a security

Who can be the Co-Applicant for Personal Loan for Education?

A co-applicant in Personal Loan for Education is a mandatory requirement in India. However, there are a few conditions co-applicants need to meet. They are –

If the Study Loan applicant is a student, their parent(s) must join the application as co-applicant.
Only Indian nationals can act as co-applicant for Personal Loan for Education in India.
If the applicant is married, they can have parent(s)/spouse/parent(s)-in-law as co-applicant.
If the applicant has lost both parents, they can have a guardian or relative join as a co-applicant.

How does theRepayment Process work?

If you apply for a Personal Loan for Education with Tata Capital, you can enjoy a repayment plan designed to meet your unique needs. Our repayment tenures start from 12 months and go up to 72 months. You can pay the EMIs online by accessing our website from anywhere, anytime. Or, drop a cheque at the nearest Tata Capital branch. You have complete control over your personal loan for education repayment, no questions asked!

What are the eligible courses for Personal Loan for Education?

At Tata Capital, we offer Personal Loans for Education for courses in India and abroad. You can find the list of courses eligible for Personal Loan for Education from Tata Capital below.

Courses Covered in India

Graduation/post-graduation/diploma courses from recognised universities
Professional/technical/management courses
PhD courses

Courses Covered Outside India

Graduation/post-graduation degrees from recognised universities
Certified degree courses conducted by London, CPA, CIMA, USA, and other similar institutes
PhD courses

However, our Study Loans don't cover diploma courses abroad.

What are the Tax Benefits of Personal Loan for Education?

If you are servicing a Study Loan currently,you can take advantage of the various Personal Loan for Education tax benefits on its repayment. Under Section 80E of the Income Tax Act,you are eligible for a yearly deduction of Rs. 40,000 on the repayment of both the principal amount and the interest portion of the EMI. All Personal Loan for Education taken for full-time courses at the graduation or post-graduation level are eligible for a deduction.

Moreover, these tax exemptions will be available for a maximum of eight years from the date of the first EMI payment.

What is the list of Expenses Covered in the Personal Loan for Education?

When applying for a Personal Loan for Education, you probably have a lot of questions on your mind. Does Personal Loan for Education cover living expenses?Or costs of books? If so, here are all the expenses covered underPersonal Loan for Education:

Tuition fee
Hostel fee
Insurance premium
Travel expenses for students studying abroad
Laboratory/examination/library fees
Laptop/computer costs are covered by study loans
Cost of equipment/books/uniform
Caution deposit

Application Process for Personal Loan for Education

Online Application

Want maximum convenience when applying for an Personal Loan for Education? Apply online through our website by just filling up your basic details.

Document Submission

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

Verification

We will verify your application and submitted documents.

Approval

Post approval, the loan is sanctioned.

Disbursal

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

Available payment options

Pay Online

Pay your EMI using our website or mobile anytime, anywhere.

Drop a Cheque

Select a nearby branch to drop a cheque at your convenience.

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What our customers say about us

The whole process for application to disbursement was good.

YUSUF RASUL

Personal Loan | 15 June, 2023

Good services from Tata capital and I am also a big fan of Tata Group because they always concentrate on delivering the best quality services to people. Heartfelt thank you.

Adarsha Geekalli Mahadevanayaka

Personal Loan | 13 June, 2023

Tata Capital has helped me in my severe crisis. Service was excellent and very smooth. Thanks for your tremendous support. Tata Capital's executive are their best resource.

GRACE ESTHER RANI SINGHA

Personal Loan | 13 June, 2023

I am also new customer and as of now the app providing us all the details what we required very easily. Very useful app. Thank you

P RAMESH BABU

Personal Loan | 13 June, 2023

It was my first experience with Tata Capital & it was my best ever experience as compared to another financer. Thank you Tata Capital team providing the best possible service. I loved it.

SANDEEP KUMAR

Personal Loan | 12 June, 2023

Service is good I will give 5 star rating to Tata Capital. I have taken 5 loans from Tata Capital out of which 2 loans are closed and 3 are running. Very happy to take loan from Tata Capital.

ASKULA SRIDHAR

Personal Loan | 08 June, 2023

Very fast loan process. They understood my current situation and helped me at the time.

KALYANASUNDARAM C

Personal Loan | 05 June, 2023

Tata Capital has provided best services across product. This company will be going so far.

CHHATLAL PRAJAPATI

Personal Loan | 04 June, 2023

Tata Capital's staff maintained good relationship with me. Very good in giving information and suggestions. Documentation through online channel is good. My entire loan process was done simply through phone itself, no need of going outside even single step.

PARA NAIDU MAMIDI

Personal Loan | 03 June, 2023

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Popular FAQs

A guarantor for a personal loan for education can be the applicant’s parent or relative. It is important to note that a guarantor is not the same as a co-applicant. A guarantor is a third person who guarantees the repayment of the Personal Loan for Education.

For a smooth application process, ensure the guarantor furnishes all the necessary documents, such as proof of identity, proof of residence, salary slip, etc. If the applicant does not have a guarantor, Tata Capital offers a secured loan option as well.

A Tata Capital Personal Loan for Education helps you pay for your education. However, there are some restrictions on the type of educational programme. Here are the courses eligible for this Tata Capital loan.

Course covered in India

#1. Graduation/post-graduation/diploma courses from recognised universities

#2. Professional/technical/management courses

#3. PhD courses

Courses covered abroad

#1. Graduation/post-graduation degrees from recognised universities

#2. Certified degree courses conducted by London, CPA, CIMA, USA, and other similar institutes

#3. PhD courses

If your course falls under these categories, a Tata Capital loan can reduce your financial burden.

While a personal loan can help you fund your education abroad, an Personal Loan for Education is a better option. This is because, at Tata Capital, we offer customised plans with quick approval, minimal documentation, and competitive interest rates.

Further, our loan covers a variety of expenses, such as,

Tuition fee
Hostel fee
Insurance premium
Travel expenses for students studying abroad
Laboratory/examination/library fees
Laptop/computer costs
Cost of equipment/books/uniform
Caution deposit

At Tata Capital, we help reduce your financial burden, enabling you to focus better on your education goals.

Personal loans for education are only applicable to higher education.

For a smooth application process for your Tata Capital personal loan for education, you need to furnish the following documents.

KYC documents
Residence proof
Identity proof
Academic documents such as admission letters, mark sheets, final certificates
Financial documents such as income tax returns, bank statements

The applicant must submit the above documents with the duly filled application form.

Personal loans for education are only applicable for higher education, such as graduation and post-graduation. And for a Tata Capital Personal Loan for Education, a co-applicant is a mandatory requirement. Without one, the loan application will not be approved.

On the other hand, you can apply for this loan without security if you have a guarantor. Apart from a co-applicant, security or guarantor, you must also fulfil the following conditions.

You must be between 16 – 26 years of age
You must be an Indian national
You should have a good academic record
You or your co-applicant must have a minimum monthly income of Rs 15000

With a Tata Capital Personal Loan for Education, you can enjoy a tailor-made repayment plan for your needs. We offer flexible tenures ranging from 12 to 72 months. This allows applicants to focus on their education needs without a financial burden.

Additionally, you can pay your EMIs by dropping a cheque at your nearest Tata Capital branch or online through our website anytime, anywhere.

Yes, you can avail of tax benefits on the interest paid for your Tata Capital Personal Loan for Education. Under Section 80E of the Income Tax Act 1961, you are eligible for a yearly deduction of Rs. 40,000 on the repayment of both the interest portion and the principal amount of the EMI.

Loans taken for higher education, such as graduation and post-graduation level, are all eligible for tax deduction. However, it’s important to note that these exemptions are available for a period of eight years from the date of the first EMI payment.

Yes, there is a maximum age to apply for this loan. For a Tata Capital Personal Loan for Education, the applicant must be between 16 and 26 years of age. However, age is not the only deciding factor; the applicant must also fulfil the following conditions to be eligible for this loan.

You must be an Indian national
You must have a good academic record
You or your co-applicant must have a minimum monthly income of Rs 15000
You must have collateral or a guarantor

While a poor credit history can negatively impact your personal loan for higher education, Tata Capital takes into account other conditions as well. These include,

The co-applicant’s profile, including past salary slips, proof of income tax return of the previous two years etc.
The value of collateral attached to the application, or
The creditworthiness of your guarantor

These criteria and other factors, such as academic record and a minimum monthly income of Rs 15000, help determine whether the loan application can be approved.

Yes, you can get an Personal Loan for Education for distance learning or online courses. Here are the eligibility criteria for Personal Loan for Education.

The applicant must be between 16 – 26 years of age
The applicant should have a good academic record
The applicant or co-applicant must have a minimum monthly income of Rs 15000
The applicant must offer collateral or a guarantor

With Tata Capital, your personal loan for education can get approved within days of applying. All you need to do is ensure you meet the following eligibility criteria.

The applicant must be between 16 – 26 years of age
The applicant should have a good academic record
The applicant or co-applicant must have a minimum monthly income of Rs 15000
The applicant must offer collateral or a guarantor

If you meet all the above criteria and furnish all required documents, you could receive your loan in a matter of days.

If you’re unable to secure admission to the desired course or university, don’t get disheartened. You can try to improve your candidature and apply next year. It is also a good idea to have a list of alternative courses and universities you could apply to in such a case.

However, if the reason is a lack of funds, you can consider an Personal Loan for Education with Tata Capital. We offer high loan amounts at attractive interest rates to help you secure admission at your desired university and meet your education goals without a financial burden.

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Personal Loan for Education

What is Personal Loan for Education?

Advantages

Customised Solutions

Easy Repayment Options

Minimal Paperwork

Quick Approval

How to Check Eligibility for Personal Loan for Education?

Who can be the Co-Applicant for Personal Loan for Education?

How does theRepayment Process work?

What are the eligible courses for Personal Loan for Education?

What are the Tax Benefits of Personal Loan for Education?

What is the list of Expenses Covered in the Personal Loan for Education?

Application Process for Personal Loan for Education

Online Application

Document Submission

Verification

Approval

Disbursal

Available payment options

Pay Online

Drop a Cheque

More Personal Loan products for you

Personal Loan for government employees

Personal Loan for salaried employees

Personal Loan for doctors

Personal Loan for women

What our customers say about us

YUSUF RASUL

Adarsha Geekalli Mahadevanayaka

GRACE ESTHER RANI SINGHA

P RAMESH BABU

SANDEEP KUMAR

ASKULA SRIDHAR

KALYANASUNDARAM C

CHHATLAL PRAJAPATI

PARA NAIDU MAMIDI

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