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Personal Loan for Education

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What is Education Loan?

Are you ready to advance your education? Don't let expensive college fees hold you back. With Tata Capital's Education Loan, 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 Student Loans are quick, accessible, and convenient.

To apply for a Student Loan 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

₹ 75,000 - ₹ 35,00,000

Loan Tenure

12 - 72 months

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 education loan. 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 Education Loan?

In order to get an Education Loan, 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 Education Loan?

A co-applicant in education loan 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 Education Loans 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 Student Loan 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 student loan repayment,no questions asked!

What are the eligible courses for Education loans?

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

If you are servicing a Study Loan currently,you can take advantage of the various education loan 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 Education Loans 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 Education Loan?

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

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 Student Loan

1

Online Application for Student Loan

Want maximum convenience when applying for an education loan? 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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What our customers say about us

Tata Capital's systematic and professional approach is much better than private banks too.

Premprakash M Mourya

Personal Loan | 25 April, 2023

Excellent experience with Tata Capital's executive in overall guidance, communication and support.

PALLI KEERTHI UJWALAKEERTHI

Personal Loan | 15 April, 2023

My experience with Tata Capital was excellent. Quick service was given. All staff is polite and humble. I thank you Tata Capital, and wish you all the same in future.

VANITA BHASKAR SHETTY

Personal Loan | 14 April, 2023

Responding quickly, comfortable communication for explaining about the process. Excellent service Tata Capital. Thank you for best service.

KRISTU STEPHEN STEPHEN PAULRAJ

Personal Loan | 14 April, 2023

Tata Capital's overall performance is too good, apart from other sources.

Alexi Peter Almeida

Personal Loan | 13 April, 2023

Tata Capital is excellent supporter for improving our financial position.

Imam Khan V S

Personal Loan | 10 April, 2023

Amazing services. I'm really fully satisfied by your online services and immediate response. No need to visit offices to take loan/closure or any other queries. Everything gets clear with immediate and excellent response through online. Really I didn't find any glitch for improvement. Thank you very much team Tata Capital.

MANOJIT DAS

Personal Loan | 08 April, 2023

Tata Capital's service is good. Keep up the good work. Best customer service. 10 out of 10.

SHAIKH MOOSIN AHMED ABDUL MAZID

Personal Loan | 05 April, 2023

It was a nice experience with Tata Capital, I have faced lots of challenges in last 2 years. Thank you for your help and for understanding my situation. If given a chance, I will definitely recommend Tata Capital to everyone. Thank you.

PRADEEP KUMAR

Personal Loan | 04 April, 2023

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