Explore Education Loan
Use these shortcuts to understand the most important parts of an education loan before applying.
What may an education loan cover?
Eligible expenses vary by lender, course and institution. Commonly considered categories may include the following.
Tuition & Fees
Eligible tuition and institutional charges.
Living & Hostel
Eligible accommodation or living expenses where permitted.
Books & Equipment
Course-related books, equipment or laptop where allowed.
Overseas Costs
Eligible travel or insurance costs may be considered.
Eligibility preview
- Admission to an eligible institution/course
- Student academic profile and course prospects
- Co-applicant income and credit profile
- Loan amount, country and lender policy
- Collateral/security requirements where applicable
Common documents
- Student and co-applicant KYC
- Admission letter and fee schedule
- Academic records and applicable test scores
- Co-applicant income and bank documents
- Passport/visa or collateral papers where applicable
Interest rate & lender terms
Actual interest rate, loan amount, fees, margin, moratorium, collateral and repayment terms depend on lender policy and the student/co-applicant profile.
Planning to study abroad?
Overseas education funding can involve currency movement, visa documentation, larger budgets, living expenses and different security requirements.
How the process works
A simple overview; actual lender steps and sanction conditions may vary.
Share course, institution, admission and estimated cost details.
Prepare KYC, academic and co-applicant income documents.
Suitable lenders assess eligibility, security and documentation.
On approval, disbursal follows lender terms and fee schedule.
Education Loan FAQs
Is a co-applicant required for an education loan?
Many lenders require a suitable co-applicant, commonly a parent or guardian, especially when the student does not have independent income.
Is collateral always required?
No. Collateral requirements depend on the loan amount, institution, course, lender policy and applicant profile. Some eligible cases may be considered without collateral.
Can living expenses be included?
Eligible hostel, accommodation and other documented study-related expenses may be considered depending on lender policy.
When does repayment start?
Education loans may include a study/moratorium period. The exact repayment start date and interest treatment depend on the lender's terms.
Can I apply for study abroad?
Yes, subject to the course, institution, admission, student/co-applicant profile, documentation and lender criteria.
Planning Your Higher Education?
Explore suitable education loan options based on your course, institution and financial profile.