Fund the degree, repay when earning.
Tuition, accommodation and living expenses covered — in India or abroad — with a moratorium until the course ends. Rates from 8.5% p.a., tenures up to 15 years, and Section 80E tax benefits on interest. Priya's son got to IIT this way.
- Max loan
- ₹50 Lakhs
- Moratorium
- course + 6–12 mo
- Rate
- from 8.5%
- Tenure
- up to 15 yrs
What the loan actually covers.
| Expense | Covered |
|---|---|
| Tuition and course fees | Paid directly to the institution |
| Accommodation | Hostel fees, rent and deposits |
| Study materials | Books, laptop, lab and exam fees |
| Travel & living (abroad) | Airfare, visa, insurance and living costs |
Why this loan
Built to fund this dream properly.
India & abroad
Recognised institutions at home or overseas — USA, UK, Canada, Australia, Germany and more.
Moratorium period
No EMIs during the course plus 6–12 months after — repay once you're earning.
Rates from 8.5%
Plus government interest subsidies for economically weaker sections.
Section 80E benefit
Interest is tax-deductible with no upper limit for up to 8 years.
Collateral-free to ₹7.5L
No security needed for smaller loans; larger amounts use property or FDs.
Lenders compete
Compare bank and NBFC education offers side-by-side via ONDC.
Are you eligible? Most people are.
- ✓Indian citizen with confirmed admission to a recognised institution
- ✓Age typically 18–35 years
- ✓Co-applicant required (parent, guardian or spouse)
- ✓Admission confirmation letter
- ✓Covers undergraduate, postgraduate, professional and vocational courses
- ✓No minimum income for the student — the co-applicant's income is assessed
Documents you'll upload once.
- ✓Admission confirmation letter
- ✓PAN and Aadhaar — student and co-applicant
- ✓Fee structure from the institution
- ✓Academic records (10th, 12th, graduation as applicable)
- ✓Co-applicant income proof and bank statements
- ✓Collateral documents, for loans above ₹7.5 Lakhs
The honest math
Know your education loan EMI before you commit.
FAQ
Education Loan questions, answered.
What does an education loan cover?
Tuition, exam and lab fees, hostel or rent, books and equipment — plus travel, visa and living costs for study abroad.
When do I start repaying?
After the moratorium: course duration plus 6–12 months. Simple interest may accrue during this period.
Do I need collateral?
Not up to ₹4–7.5 Lakhs depending on the lender. Higher amounts need property or fixed deposits; some government schemes go to ₹10 Lakhs unsecured.
Can I borrow for studying abroad?
Yes — up to ₹1 Crore for recognised universities abroad, covering tuition, travel, visa and living expenses.
What are the interest rates?
8.5%–15% p.a. Government banks are typically cheaper, with concessional rates during the moratorium.
Is there a tax benefit?
Yes — Section 80E allows deduction of the full interest paid, with no cap, for up to 8 years.
Ready to fund this dream?
Apply once — 10+ RBI-registered lenders compete for your education loan through ONDC.