Education
Education Loan
Fund the degree, not just the tuition: living costs, travel and laptops included.
Education loans for studies in India and abroad, from ₹2 lakh to ₹1.5 crore, at rates from about 8.5% p.a., with moratorium during the course and tenures up to 15 years.
- Rate from
- 8.50% p.a.
- Amount
- ₹2 L to ₹1.5 Cr
- Tenure
- 5 to 15 years
- Processing fee
- Nil for most public sector banks
Check education loan eligibility
Free pre-screen across our lender panel. No bureau enquiry.
About education loans
Education loans differ enormously by institution, course and country. A top-ranked programme abroad can be funded collateral-free up to ₹75 lakh or more by specialist lenders, while a similar amount for a lesser-known university may need property collateral. Public sector banks offer the lowest rates and tax-deductible interest, but their process is slower and their collateral demands stricter.
We map your admission to the lenders most likely to fund it at the best terms, help with the course-cost worksheet and I-20 or offer-letter formalities, and coordinate collateral valuation where needed, so that the sanction letter is ready for visa filing on time.
Rate note: Public sector banks and top-institution schemes start near 8.5% p.a.; NBFC collateral-free loans for overseas study price higher.
Why borrowers choose it
What a education loan through LoansPartner gets you
Moratorium during the course
Repayment starts 6 to 12 months after course completion.
Section 80E tax deduction
Interest paid on an education loan is deductible for up to 8 years under the old tax regime. Section numbering changed with the Income-tax Act, 2025, so confirm the current provision with your tax adviser.
Covers the full cost
Tuition, hostel, living expenses, travel, laptop, insurance and exam fees.
Collateral-free options
Up to ₹75 lakh or more for premier institutions with specialist lenders.
Forex and remittance support
Lenders remit fees directly to overseas institutions.
Sanction letter for visa
We time the process so proof of funds is ready for your visa appointment.
Common uses
- Masters and MBA programmes abroad
- Engineering, medicine and management courses in India
- Executive and professional certifications
- Vocational and skill programmes with recognised institutions
Eligibility
Who qualifies
Norms vary by lender. These are the ranges across our panel; we tell you precisely where your profile fits before you apply.
- Age
- Student aged 16 to 35; co-applicant (parent, spouse or sibling) mandatory
- Income
- Co-applicant income sufficient to service interest during the course, depending on lender
- Credit score
- Co-applicant's score of 700 and above preferred
- Employment
- Confirmed admission to a recognised institution in India or abroad. Co-applicant salaried or self-employed
- Also
- Collateral required above lender-specific thresholds (often ₹7.5 lakh for banks) unless the institution is on a premier list
Documents
What to keep ready
A complete file is the single biggest driver of a fast sanction. We collect everything digitally in one go.
- Student's PAN, Aadhaar, passport and academic records
- Admission letter, fee structure and course details
- Co-applicant's KYC, salary slips, Form 16 and 6 months' bank statement
- Collateral documents where applicable
- Visa or I-20 documents for overseas study
- Student's KYC and academic records
- Admission and fee documents
- Co-applicant's KYC, 2 years' ITR and 12 months' bank statements
- Business proof
- Collateral documents where applicable
How it works
Five steps, one point of contact
- 01
Share the admission details, total course cost and co-applicant profile.
- 02
We shortlist lenders by institution, country and collateral availability, with indicative terms.
- 03
Documents, including the fee structure and co-applicant financials, are submitted.
- 04
Sanction letter is issued, often before the visa appointment.
- 05
Disbursal happens semester-wise to the institution; living expenses go to the student's account.
Indicative EMIs
What the instalment looks like
Computed at the lowest rate in this product's range. Run your own numbers in the EMI calculator.
| Loan amount | 2 yr | 3 yr | 5 yr | 7 yr |
|---|---|---|---|---|
| ₹2,00,000 | ₹9,091 | ₹6,314 | ₹4,103 | ₹3,167 |
| ₹4,00,000 | ₹18,182 | ₹12,627 | ₹8,207 | ₹6,335 |
| ₹10,00,000 | ₹45,456 | ₹31,568 | ₹20,517 | ₹15,836 |
| ₹20,00,000 | ₹90,911 | ₹63,135 | ₹41,033 | ₹31,673 |
| ₹40,00,000 | ₹1,81,823 | ₹1,26,270 | ₹82,066 | ₹63,346 |
Lenders
Where we place education loan files
A selection from our panel. The best lender for you depends on your profile, city and the property or asset involved.
HDFC Bank
Private bankSalaried professionals seeking competitive personal, home and car loan pricing.
ICICI Bank
Private bankHome buyers in approved projects and businesses needing working capital lines.
Axis Bank
Private bankCorporate salaried borrowers and SMEs with strong banking.
State Bank of India
Public sector bankGovernment employees, home buyers seeking the lowest published rates, and education loan applicants.
Bank of Baroda
Public sector bankSalaried home and car buyers and MSMEs seeking bank pricing.
Punjab National Bank
Public sector bankGovernment and PSU employees in North India.
FAQs
Education Loan questions, answered
Can I get an education loan without collateral?
Yes, for institutions on lender-approved lists. Public sector banks fund up to ₹7.5 lakh without collateral under the credit guarantee scheme, and specialist lenders go much higher for top-ranked programmes.
When does repayment start?
After the moratorium: the course duration plus 6 to 12 months. Some lenders require simple interest to be paid during the course; paying it reduces the total cost.
What expenses are covered?
Tuition, hostel and living expenses, books and laptop, travel for overseas study, insurance and exam fees. Lenders use the institution's cost estimate or the I-20 amount.
Related products
Sometimes a different product is cheaper. We will say so.
Loan Against Property
Loans against residential, commercial or industrial property from ₹10 lakh to ₹15 crore at rates from about 8.75% p.a., with tenures up to 15 to 20 years and funding up to 70% of market value.
- Rate from
- 8.75% p.a.
- Up to
- ₹15 Cr
Personal Loan
Collateral-free personal loans from ₹50,000 to ₹50 lakh at rates starting around 10.25% p.a., with disbursal typically within 48 hours of approval.
- Rate from
- 10.25% p.a.
- Up to
- ₹50 L
Get your education loan shortlist.
Share your requirement in two minutes. Our credit desk pre-screens your profile and calls with lenders, rates and next steps. No fee, no bureau enquiry.