Finance your higher education dreams. Understand eligibility criteria for education loans covering domestic and international studies.
Check out our latest loan products with competitive rates and flexible terms
HDFC Bank
Interest Rate
10.5% p.a.
Max Amount
₹40 Lakhs
Processing Fee
1% + GST
Tenure
Up to 5 years
SBI
Interest Rate
8.5% p.a.
Max Amount
₹2 Crores
Processing Fee
0.35% + GST
Tenure
Up to 30 years
ICICI Bank
Interest Rate
12% p.a.
Max Amount
₹75 Lakhs
Processing Fee
2% + GST
Tenure
Up to 7 years
Kotak Mahindra
Interest Rate
8.75% p.a.
Max Amount
₹25 Lakhs
Processing Fee
1.5% + GST
Tenure
Up to 7 years
Finance tuition fees, living expenses, travel, and study materials up to ₹1.5 crore.
Moratorium period during study plus 6-12 months after course completion.
Interest paid on education loan is tax deductible under Section 80E.
Eligibility focuses on student merit and co-applicant income:
Student Nationality: Must be an Indian citizen
Academic Record: Admission confirmed in recognized university/institute in India or abroad
Co-applicant: Parent or spouse must have stable income and good credit score (750+)
Course Type: Graduate, post-graduate degrees, or professional courses (MBA, MS, etc.)
Collateral: Required for loans above ₹7.5 lakhs (property, FD, or securities)
Age: Student should be 18+ years; no upper age limit
Meeting these criteria improves your chances of quick approval and better loan terms
Aadhaar, PAN, Passport, photos
Confirmed admission from university/college
Official fee breakup from institution
Mark sheets of 10th, 12th, graduation
Salary slips, ITR, bank statements
Property papers, FD receipts (if applicable)
Keep all documents ready in digital format (scanned copies) to speed up the application process. Most lenders now accept online document uploads for faster processing.
Loans are easier to get for courses from UGC/AICTE approved or globally ranked universities.
Co-applicant with high income and excellent credit score significantly improves approval chances.
Start loan process 6-8 months before course start date to ensure timely disbursement.
For high-value loans, arrange collateral in advance to expedite approval process.
Following these tips can significantly improve your approval chances and help you secure better interest rates
Apply for education loan and pursue your dream course