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Education Loans

Till some years back higher education and quality education was not affordable to some illustrious students because of the financial constraints. There was no any alternative but to jump in the job market prematurely. And this led to untimely end of budding talents and their forceful transformation into to the mediocrity.


Scholarships were there, but those were so less in numbers that only luckier few could avail them. But now the scene has changed drastically.

The boom in the banking sector has led to release of large amount of funds for education loans. Now, education loans are easily available from various banks in India and this change is encouraging more and more students to take up higher education despite their financial shortcomings.

Many nationalized banks have come up with various educational loan schemes that students can benefit from.Even private banks are not lagging far behind. This scenario is certainly helping the illustrious students to pursue higher education and realize their dreams. Here, we have tried to list the name of banks and the details about various educational loans provided by them.


Bank Loans are easily available for higher studies anywhere in the world. Loans should be preferably taken from a Nationalized Bank. The term & condition for educational loans may vary from Bank to Bank.

ELIGIBILITY (Depends on the bank)

All Professional/Technical job oriented courses offered by reputed Universities.

LOAN AMOUNT (Depends on the bank)

Maximum Rs.15 Lakhs.

Margin : 15%

SECURITY (Depends on the bank)

For Loans upto Rs.4 Lakhs, no collateral security is required. For Loans above Rs.4 Lakhs, collateral security is required.

REPAYMENT (Depends on the bank)

Course period + one year or 6 months after getting a job, whichever is earlier. The loan is to be repaid in 5-7 years after commencement of repayment.

RATE OF INTEREST (Depends on the bank)

Upto Rs. 4 Lakhs-PLR

Above Rs. 4 Lakhs-PLR + 1%

DOCUMENTS REQUIRED (Depends on the bank)

  • Loan application
  • Photograph, Residence proof of borrower and guarantor
  • Covering letter stating sources of owned funds
  • Fee receipts or proof of payments made
  • Title Deeds of the ownership property to be mortgaged as security
  • Copy of passport & Visa, if student is going abroad for higher education and related documents
  • Income proof of the applicant in the form of last 3 months salary slip/Certificate or copy of the last 3 years IT returns filed with computation details of personal assets & liabilities.
  • Two guarantors with their latest salary Slip / certificate in case guarantor belongs to service class or latest income tax returns filed with the computation of income in case the guarantor is a businessman, professional or self-employed.