Credit For Education Loan

Education Loan

Education Loan Benefits
  • Fund Higher Studies: Finance education in India or abroad.
  • Cover All Expenses: Tuition fees, hostel, travel, books & equipment.
  • Flexible EMI Options: Start repayment post-course completion.
  • Tax Benefits: Under Section 80E of Income Tax Act.
Education Loan Eligibility Criteria

To apply for an education loan, you must:

  • Be an Indian citizen with admission in a recognized institution
  • Applicant must be between 16-35 years of age
  • Co-applicant (Parent/Guardian) may be required
  • Admission proof is mandatory
Documents Required for Education Loan
  • Admission Letter/Offer Letter
  • Fee Structure from the Institute
  • KYC Documents of Applicant & Co-Applicant
  • Academic Certificates
  • Income Proof of Co-Applicant
  • Bank Statements (Last 6 months)
Check Your Education Loan Eligibility
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Education Loan EMI Calculator

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Fees and Charges

Typical charges involved in availing education loan:

Particulars Charges
Processing FeeUp to 1.5% of loan amount
Documentation ChargesAs applicable
Prepayment ChargesNil to 2%
Late Payment Charges2% per month on overdue EMI
Stamp DutyAs per state laws
Foreclosure ChargesUp to 4%

Note: Terms & charges may vary based on institution & lender. Always review your loan agreement before finalizing.

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