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Copy of photo identity proof of both the student & parent. Can also submit a copy of Voter ID / Passport / Driving license / Aadhaar Card
Attested copies of Marks Sheets & Certificates (from 10th standard)
As issued by the admitting School / College / Institute
For the last three months & ITR of Parent/Guarantor
All essential documents issued by the admitting School / College / Institute including prospectus, breakup of fees, etc.
If there is an immovable property offered as security
Some of the benefits of Education Loan are:
You can take up to 6 years to repay your loan.
You can take a loan up to ₹ 25 lakhs if you are studying in India. If you plan to study overseas, you can take a loan up to ₹ 30 lakhs.
Our interest rates for Personal Loan for Education are competitive and affordable. Rates begin from 11.25 %
We need the following documents in order to process your Education Loan:
The highest quality of education should be available for all regardless of someone’s financial background. That’s precisely the reason why we have made the availability of Education Loans as accessible as possible. Whether you are a student or a parent seeking to provide your children with the very best, we are here to support you.
In order to get an Education Loan, you have to meet some basic eligibility criteria and documents for faster approal. Check your Eligibility criteria and Documents required for availing an Education Loan.
A ticket to the best institutes
Access to education in some of the premier institutes in India or abroad is now affordable with an Education Loan.
A better career
Statistics show that students who graduate from educational institutes that have a good reputation tend to secure better jobs post their studies. This eventually sets them on a path to a fruitful career.
Customisable repayment options
Students can choose how they want to pay their Education Loan. This could be based on the interest rate or tenure. It’s that easy.
Your education is unique to you. That’s why we let you tailor the Education Loan based on your needs.
You have the flexibility and control over how you want to repay your loan. Choose the option that best suits you.
We pave the way for your bright future by making the process easy and accessible.
Submit just a few documents with your application and get your educational loan sanctioned instantly.
The student is required to begin Education Loan repayment only after completing the studies and starts working.
Our Education Loan covers:
We offer competitive personal loan interest rates starting at 10.99%. However, education loan eligibility, financial institution, your future earning capacity are some of the factors that determine the interest rates for the loan offered.
Equated Monthly Instalment (EMI) depends on the principal loan amount, the interest rate charged and the period for which the loan is taken.
You can choose your EMI amount that is comfortable to you by using the Education Loan EMI calculator.
You can decide how you want to repay your personal loan for education. For a fixed amount of loan and interest, you can choose the tenure and EMI that is comfortable for you. The longer the tenure, lower will be the EMI. You can also prepay your education loan after meeting defined terms and conditions.
You can pay your loan through auto debit or ECS facility. In exceptional cases, you can also opt for a post-dated cheque payment facility.
You are eligible for an Education Loan if you are an Indian National, between the age of 16-26 years and have a good past academic record. We expect you or your parents to have a stable income source. You should either show security or have a guarantor and your eligibility also depends on the credit history of your co-applicants.
These are the documents you will need to submit: