Invest in Education, Invest in Your Success with a Student Loan
Student Loan Overview
Pre-Admission Sanction
Comprehensive Coverage
Flexible Tenure
Tax Benefit U/s 80E
Collateral-Free Option
Quick Processing
Features and Benefits of our Student Loan
- High Loan Amount: Avail funding up to ₹150 Lakhs (depending on course, institution, and profile).
- Covers All Expenses: Tuition fees, exam fees, hostel charges, books, travel, and other educational needs.
- Flexible Repayment Tenure: Repay conveniently over 5 to 15 years.
- Moratorium Period: Start repayment after course completion + grace period.
- Collateral-Free Loans: Up to a certain limit, no security or collateral required.
- Quick Processing: Fast approval and disbursal for eligible students.
- Tax Benefits: Avail tax deductions on interest paid under Section 80E.
Student Loan Eligibility and Documents
Eligibility Criteria For Student Loan
- Nationality: Indian citizens.
- Age: 16 to 35 years.
- Academic Background: Good academic record with confirmed admission.
- Courses Covered: Graduate, postgraduate, professional, and vocational courses in India or abroad.
- Institutions: Recognized universities, colleges, and institutes in India and overseas.
- Co-applicant: Parent/guardian with a stable income required.
Documents Required to Apply for Student Loan
KYC Documents
- Student & co-applicant’s PAN, Aadhaar, Passport, Voter ID, or Driving License
- Residence Proof (Aadhaar, Passport, Electricity Bill, Rent Agreement)
Academic Documents
- Admission letter from a recognized institution
- Previous mark sheets/certificates (10th, 12th, graduation, etc.)
Financial Documents (Co-applicant/Parent)
- Latest salary slips / ITR / Form 16
- Last 6 months’ bank statement
- Proof of collateral (if applicable)
Other
- Passport & Visa (for overseas education)
Student Loan EMI Calculator
Using a Student Loan EMI calculator can help you estimate your monthly loan repayment amount.
Follow these steps to use a student loan EMI calculator effectively:
- Enter the Loan amount, interest rate, and tenure.
- Click Calculate.
- View EMI, total interest, and and repayment.
- Adjust tenure if needed.
- Consider extra costs.
- Check budget compatibility.
- Confirm with the lender before finalizing.
Fees and Charges for Student Loan
| Particulars | Charges |
|---|---|
| Loan Processing Fees | Up to 2% of loan amount. |
| Interest Rate | Starting from 10% p.a. onwards |
| Loan Tenure | 5 to 15 years |
| Moratorium Period | Course duration + 6 to 12 months |
| Prepayment Charges | Nil or minimal (depending on lender policy) |
| EMI / Cheque Bounce Charges | Around Rs 500 per bounce |
Student Loan Review
Priya Deshmukh, MBA Aspirant
Amit Verma, Engineering Student
Ravi Kumar, Medical Student
Sanya Patel, Master's Student in the USA
FAQs on Student Loan
Any Indian student who has secured admission in a recognized course in India or abroad can apply. A co-applicant (parent/guardian) with stable income is required.
The loan covers tuition fees, examination fees, hostel charges, books, equipment, travel, and other education-related expenses.
Collateral-free loans are available up to a certain limit. For higher loan amounts, security may be required.
Repayment begins after the course is completed, plus an additional moratorium period of 6–12 months.
Yes, loans are available for both Indian and foreign universities/institutions.In education loans, repayment options typically include Equated Monthly Installments (EMIs) after a moratorium period, step-up or step-down EMIs based on expected income changes, interest-only payments during the moratorium period, and bullet repayment where the entire principal and interest are paid at the end. Borrowers can choose the option that best fits their financial situation and repayment capacity.
Yes, you can typically prepay your education loan either in part or in full. Prepayment allows you to pay off the loan before the end of the loan tenure. Some lenders may charge a prepayment penalty or fee for early repayment, so it's advisable to check with your lender regarding their prepayment policies.
Yes, under Section 80E of the Income Tax Act, you can claim tax deduction on interest paid.
To start repaying your education loan, review your loan agreement for the repayment schedule and EMI amount. Set up a bank account for payments and calculate your EMI based on the loan terms. You can then start making payments either manually or through automatic deductions as per the repayment schedule.
Yes, there is a tax benefit for education loan repayment in India under Section 80E of the Income Tax Act. According to this section, the interest paid on an education loan for higher education is eligible for deduction from the total taxable income. The deduction is available for a maximum of 8 years or until the interest is fully repaid, whichever is earlier. The benefit is available for loans taken for the taxpayer, spouse, children, or for a student for whom the taxpayer is a legal guardian.
You can get up to ₹20 Lakhs depending on your profile, course, and institution.
Loans are usually sanctioned within a few working days after submission of required documents.