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Education Loan | Loan Details
Education Loan
Loan Offer

Education Loan

Interest: 10.99
Up to 20,00000

About This Offer

📌 1. Definition

  • An education loan is a loan taken to pay for higher studies.
  • It is provided by banks or financial institutions to students.

📌 2. Purpose

  • To cover education expenses, such as:
  • Tuition fees
  • Books and study materials
  • Hostel and living expenses
  • Travel (for studies abroad)

📌 3. How It Works

  • Student applies for a loan
  • Bank approves based on eligibility
  • Money is paid to college or student
  • Student repays loan after completing studies

📌 4. Moratorium Period

  • Time during which repayment is not required
  • Usually includes:
  • Course duration + 6 months / 1 year
  • After this, EMI starts

📌 5. Loan Amount

  • Depends on course and college
  • Higher amount for studying abroad
  • Lower amount for studying in India

📌 6. Interest Rate

  • Charged on loan amount
  • May be simple interest during study period
  • EMI includes principal + interest

📌 7. Loan Tenure

  • Usually 5 to 15 years

📌 8. EMI (Equated Monthly Installment)

  • Monthly repayment after moratorium period
  • Includes:
  • Principal
  • Interest

📌 9. Documents Required

  • Admission letter
  • Identity proof (Aadhaar, PAN)
  • Academic records
  • Income proof of parents/guardian

📌 10. Eligibility

  • Must be a student with confirmed admission
  • Parent/guardian usually acts as co-borrower
  • Good academic record

📌 11. Types of Education Loans

  • Domestic education loan (within India)
  • International education loan (abroad)

📌 12. Advantages

  • ✔️ Helps students continue higher education
  • ✔️ Repayment starts after studies
  • ✔️ Tax benefits may be available
  • ✔️ Covers many expenses





Maximum Amount
20,00000
Minimum Amount
25,0000
Interest Rate
10.99
Tenure
5
Processing Fee
1

Key Features & Benefits

  • Quick Approval
  • Lowest Interest Rates
  • Minimal Documentation
  • No Hidden Charges

Eligibility Criteria

  • Age: 21-60 years
  • Minimum Income: ₹20,000/month
  • CIBIL Score: 650+
  • Indian Resident

Documents Required

  • PAN Card
  • Aadhar Card
  • Last 3 Months Salary Slips
  • Bank Statement (6 Months)
  • Address Proof

EMI Calculator

Your Monthly EMI: ₹0

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