What it is
An education loan pays tuition and related costs for a course in India or abroad. Lenders look at the course, the institution, the co-applicant's income and, for larger amounts, collateral. Repayment usually starts after the course ends.
Who it suits
- Students admitted to recognised courses in India or abroad
- Families who want to keep savings for other goals
- Students who can offer a co-applicant with steady income
Which lenders fit
Typical appetite by lender type for a well-documented profile. Your own answers can change this — run a Match Check.
Strong fit
Private banks price well for strong scores and documented income, and move quickly.
Strong fit
Public sector banks often have the lowest rates, with stricter paperwork and slower turnaround.
Possible
NBFCs accept a wider range of profiles, including the self-employed, usually at a higher rate.
Possible
Small finance banks lend to thinner files and smaller towns, usually at a higher rate.
Possible
Fintech lenders decide quickly on digital data and suit smaller unsecured amounts.
Typical eligibility
Student
- Confirmed admission to a recognised course
- A parent or guardian as co-applicant
- Collateral for larger amounts at many lenders
Co-applicant
- Stable income and a reasonable credit history
Each lender sets its own criteria. These are common starting points, not guarantees.
Documents to keep ready
- Admission letter and fee structure
- Academic records
- PAN and Aadhaar of the student and co-applicant
- Co-applicant's income proof and bank statements
- Collateral documents, if applicable
You share documents only with your advisor or the lender, never on this website.
Indicative rates
| Lender type | Rate range | Processing fee | Max tenure | As of |
|---|---|---|---|---|
| Public sector banks sample | 8.50 – 11.00 % | Nil–0.50 % | 15 yrs | 19 Sep 2026 |
| Private banks sample | 9.50 – 13.50 % | Up to 1.00 % | 15 yrs | 19 Sep 2026 |
| NBFCs sample | 10.50 – 14.50 % | 1.00–2.00 % | 12 yrs | 19 Sep 2026 |
| Fintech lenders sample | 11.00 – 16.00 % | 1.00–2.00 % | 10 yrs | 19 Sep 2026 |
| Small finance banks sample | 11.50 – 15.50 % | 1.00 % | 10 yrs | 19 Sep 2026 |
Questions
Is collateral always needed?
No. Many lenders fund smaller amounts, and some courses at well-known institutions, without collateral.
When does repayment start?
Usually after the course ends plus a short moratorium. Interest may accrue during the course.