A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

Eligible Courses

All courses having employment prospects are eligible.
Graduation courses/ Post graduation courses/ Professional courses
Other courses approved by UGC/Government/AICTE etc.

Expenses considered for loan

  • Fees payable to college/school/hostel
  • Examination/Library/Laboratory fees
  • Purchase of Books/Equipment/Instruments/Uniforms
  • Caution Deposit/Building Fund/Refundable Deposit
  • Travel Expenses/Passage money for studies abroad
  • Purchase of computers considered necessary for completion of course
  • Cost of a Two-wheeler upto Rs. 50,000/-
  • Any other expenses required to complete the course like study tours, project work etc.

Amount of Loan

For studies in India, maximum Rs. 7.50 lacs
Studies abroad, maximum Rs. 15 lacs

Interest Rate

For loans upto Rs. 4 lakh 11.25% p.a.
For loans above Rs. 4 lakh 12.25% p.a.

Processing Fees

No processing fee/ upfront charges
Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money

Repayment Tenure

Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier. The loan is to be repaid in 5-7 years after commencement of repayment.


Amount Studies In India
Upto Rs. 4 lacs No Security
Above Rs. 4 lacs to Rs. 7.50 lacs Third Party Guarantee
Above Rs. 7.50 lacs to Rs. 15 lacs Tangible Collateral security of suitable value of loan or third party guarantee.


For loans up to Rs.4.0 lacs : No Margin
For loans above Rs.4.0 lacs upto Rs.7.50 lacs.
Studies in India: 5%
Studies Abroad: 15%

Documentation Required

  • Completed Education Loan Application Form.
  • Mark sheets of last qualifying examination
  • Proof of admission scholarship, studentship etc
  • Schedule of expenses for the specified course
  • 2 passport size photographs
  • Borrower's Bank account statement for the last six months
  • Income tax assessment order, of last 2 years
  • Brief statement of assets and liabilities, of the Co-borrower
  • Proof of Income (i.e. Salary slips/ Form 16 etc)

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