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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 @

  • 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:

    However, to receive approval from Tata Capital, your CIBIL score for Personal Loan should ideally fall between X and Y. If you don't know your CIBIL score and are wondering if you're eligible, don't worry. We got you covered!

    In case of a Personal Loan, where the amount is approved and advanced without collateral, your CIBIL score becomes a critical eligibility criterion. Typically, a CIBIL score above the 700 mark is considered good and attracts easy approval.

    • 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

    1

    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.

    2

    Document Submission

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

    3

    Verification

    We will verify your application and submitted documents.

    4

    Approval

    Post approval, the loan is sanctioned.

    5

    Disbursal

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

    Available payment options

    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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    If you are a salaried employees looking for a way out of a cash crunch, let Tata Capital ease your financial pains! Get an instant personal loan within a few minutes.

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    If you are a doctor looking for a way out of a cash crunch, let Tata Capital ease your financial pains! Get an instant personal loan within a few minutes.

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    If you are a women looking for a way out of a cash crunch, let Tata Capital ease your financial pains! Get an instant personal loan within a few minutes.

    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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