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What is Education Loan?

Tata Capital offers Education Loan to help students pay their tuition fees and living cost when they are looking to take the next steps in their education, both in India and abroad. With quick approval rates, minimal documentation and competitive interest rates, we are levelling the playing field with Student Loans so you can fulfil your potential. 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 Student 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.

To avail a Student Loan with Tata Capital, you will need to submit your marksheet and certificates, admission letter, documents for studying abroad, and other identity proofs.

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

Know more about our offerings

Key Features

Loan amount

₹75,000 - ₹35,00,000

Loan Tenure

12 - 72 months

Interest rate starting at

10.99%

Advantages

Customised Solutions

Your education needs are unique. That’s why we let you tailor the Education 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. Choose 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 education loan sanctioned.

Customised Solutions

Your education needs are unique. That’s why we let you tailor the Education 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. Choose 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 education 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 to apply for a Student Loan

  • 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
     

Check the Education Loan Eligibility criteria page for more details.

What are the Documents Required for Getting an Education Loan?

You need to present the following documents to apply for an Education Loan with Tata Capital –
 

  • Photo Identity Proof documents

  • Income Proof documents

  • Salary Slips

  • Address Proof documents and

  • Employment Certificate
     

To check the detailed document proof requirements, visit the Education Loan Documents page.

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 education loan 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 the parents, they can have a guardian or relative join as co-applicant when you apply for Student Loan.

How does the Repayment Process work?

If you apply for Student Loan with Tata Capital, you can enjoy a repayment plan designed to meet your unique needs. Our education loan 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 currently servicing a Study Loan currently, you can take advantage of the various education loan tax benefits on its repayment. Under Section 80E of 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 education loan tax exemptions will be available for a maximum of eight years from the date of 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

Online Application

You can apply for a education loan 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 education loan application; and submitted documents.

Approval

Post approval, the loan is sanctioned.

Disbursal

Receive the required education loan in your bank account - it's that simple!

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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