Education Loan Assistance
MoneyCashe helps customers understand eligibility, documentation and lender process for education loan enquiries. We do not guarantee approval; final decision, rate, amount and charges depend on lender policy and verification.
Common Documents
- PAN and Aadhaar
- Address proof
- Bank statements
- Income proof or ITR
- Loan-specific documents as required by lender
How MoneyCashe Helps
- Profile discussion
- Document checklist
- Eligible lender coordination
- Clear guidance on rates, fees and process
Education Loan – Key Details
Indicative figures for reference. Actual interest rate, loan amount, tenure and charges depend on lender policy, your profile and document verification.
| Parameter | Details |
|---|---|
| Interest Rate | 9% – 15% p.a. (indicative) |
| Loan Amount | Up to ₹40 Lakh (India) / Up to ₹1.5 Crore (abroad, lender dependent) |
| Tenure | Up to 15 years (including moratorium) |
| Processing Fee | Nil – 1% of loan amount (varies by lender) |
| Moratorium | Course duration + 6–12 months |
| Co-Applicant | Usually required (parent/guardian) |
Eligibility Criteria
Student Applicant
- Indian citizen with confirmed admission in a recognized institute/university
- Academic record as per the lender's criteria
- Valid KYC and admission proof
Co-Applicant / Guarantor
- Parent, guardian or close family member with stable income
- Supporting income proof (salary slips or ITR)
- Good credit history preferred by lenders
Key Benefits
Wide Cost Coverage
Covers tuition fees, hostel/living expenses, books and other course-related costs.
Moratorium Period
Repayment can typically start after course completion, easing the study period.
Tax Benefit
Potential tax benefit on interest paid under Section 80E, as per applicable law.
India & Abroad
Available for both domestic institutes and study-abroad programs.
Application Process
Education Loan – FAQs
Is collateral required for an education loan?
▼For lower loan amounts, many lenders offer unsecured education loans; higher amounts, especially for study abroad, may require collateral or a guarantor, depending on lender policy.
When does EMI repayment start for an education loan?
▼Most education loans have a moratorium period covering the course duration plus a few months after completion, after which EMI repayment typically begins.
Can I get an education loan for studying abroad?
▼Yes, education loans are available for studies abroad, generally with a higher loan amount, subject to admission proof, co-applicant income and lender criteria.
Who can be a co-applicant for an education loan?
▼A parent, guardian or close family member with a stable income is generally required as a co-applicant or guarantor.
Does an education loan cover living expenses?
▼Depending on the lender, education loans may cover tuition, hostel/accommodation, books, equipment and other course-related expenses, in addition to the fee.
Need Education Loan Support?
Submit your enquiry and our team will assist you.
Apply Now