An education loan pays for tuition and related costs of a course in India or abroad. A parent or guardian is often a co-borrower, and repayment usually starts after the course, as the lender's terms say.
Education loan products from lenders
No lender's product of this kind is listed yet. Products appear here only with details checked on the lender's own published pages.
What lenders usually look at
- Admission to a course and institution the lender accepts
- The co-borrower's income and credit history
- Security or a guarantor, depending on the amount and the lender
General guidance, not any lender's rules. Each lender sets its own criteria.
Papers lenders commonly ask for
- Identity and address proof (for example Aadhaar, PAN, passport or voter ID), as the lender asks
- PAN card
- Recent photographs
- Admission letter and the institution's statement of fees and costs
- Mark sheets and certificates
- Co-borrower's income proof
Share documents only through the lender's official channels. Finobazaar does not ask for them with an inquiry.
Before you sign
- Ask whether interest runs during the course and the period before repayment starts, and whether paying it then lowers the total.
- Ask whether you can claim any government interest subsidy or tax benefit, and what it needs.
- Compare the total cost, not only the interest rate: processing fee, other charges and taxes are added to what you pay.
- Ask the lender for the key fact statement or sanction letter and read the rate, all charges, the repayment schedule and what happens if you pay late, before you sign.
Calculators
Calculators give estimates from the figures you enter; they do not use any lender's rate and are not an offer or a promise of eligibility.
Have a question about this loan?
Send an inquiry and a member of the Finobazaar team will call you back. It is not a loan application: nothing is sent to a lender unless you agree.