Education Loan for Your Dream Career
Low interest rates from 5.5% • Loans up to ₹1 Crore • Instant approval • Moratorium period available
Education Loan Options
Studies in India
Max Amount: Up to ₹20 Lakh
Interest Rate: 5.5% - 9.5%
Repayment: Repay after course + 1 year
Eligible Courses:
Studies Abroad
Max Amount: Up to ₹1 Crore
Interest Rate: 6.0% - 10.0%
Repayment: Repay after course + 6-12 months
Eligible Courses:
Top Education Loan Lenders
| Lender | Interest Rate | Max Loan Amount | Processing Time |
|---|---|---|---|
| State Bank of India | 5.5% | ₹1 Crore | 7-10 days |
| HDFC Bank | 6.5% | ₹50 Lakh | 5-7 days |
| ICICI Bank | 6.8% | ₹50 Lakh | 5-7 days |
| Axis Bank | 7.0% | ₹50 Lakh | 7-10 days |
Eligibility Criteria
Student Requirements
- Age: 18-35 years
- Minimum 10+2 or equivalent qualification
- Admission in recognized institution
- Minimum 50% in qualifying exam
- No CIBIL score requirement
Co-Applicant Requirements
- Age: 21-65 years
- Annual income: ₹2 Lakh minimum
- Stable employment history
- Good CIBIL score (650+)
- Collateral for loans above ₹4 Lakh
Education Loan FAQs
What is the maximum education loan amount?
For studies in India: Up to ₹20 Lakh. For abroad studies: Up to ₹1 Crore, depending on course and lender. Loan amount covers course fee, books, accommodation, travel, and living expenses.
Who can apply for education loan?
Students who have secured admission in recognized institutions can apply. Co-applicant (parent/guardian) is required. Age: 18+ years. No CIBIL score requirement for first-time borrowers.
When do I start repaying education loan?
Moratorium period: Repayment starts after completion of course + 6-12 months grace period. During studies and moratorium, only interest may be charged (optional).
What documents are needed for education loan?
Admission letter, 10+2 marksheet, degree certificate, course fee structure, passport (for abroad), visa, parents income proof, bank statements, employment letter.
Can I get education loan without collateral?
Yes, loans up to ₹4 Lakh are available without collateral. For higher amounts, security/collateral may be required. Government schemes like PMAY offer guaranteed loans.
Start Your Educational Journey Today
Easy approval process with minimum documentation
About Education Loans
An education loan is a financial tool designed to help students pursue higher education without financial constraints. With education loan interest rates starting from 5.5%, it's an affordable option for students planning to study in India or abroad. Education loan for abroad studies can cover courses in the USA, UK, Canada, Australia, and other countries.
Get instant education loan approval with flexible repayment options. Most lenders offer a moratorium period allowing you to start repayment after completing your course. Our education loan calculator helps you understand the EMI based on loan amount and tenure.
Whether you're looking for education loan for engineering, medical education loan, or MBA study loan, BuyNswipe helps you compare rates from top banks. Apply for education loan online today and get approval within 5-10 days.