Education Loan System


    Term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.
    Repayment period of up to 15 years after Course Period + 12 months of repayment holiday*
    No processing / upfront charges will be levied on Education loans.

    A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured

    Fees payable to college/school/hostel
    Examination/Library/Laboratory fees
    Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers- essential for completion of the course (maximum 20% of the total tuition fees payable for completion of the course)
    Caution Deposit/Building Fund/Refundable Deposit (maximum 10% of tuition fees for the entire course)
    Travel Expenses/Passage money for studies abroad
    Cost of a Two-wheeler upto Rs. 50,000/-

    Any other expenses required to complete the course like study tours, project work etc Security
    Sr.No Particular Security
    1 Upto Rs. 7.5 Lacs Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee
    2 Above Rs. 7.5 Lacs Parent/ Guardian as co-borrower and tangible collateral security


    In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law

    Repayment will commence one year after completion of course

    Loan to be repaid in 15 years after the commencement of repayment

    In case second loan is availed for higher studies later, to repay the combined loan amount in 15 years after completion of second course

    The accrued interest during the moratorium period and course period is added to the principle and repayment is fixed in Equated Monthly Installments (EMI).
    If full interest is serviced before the commencement of repayment; EMI is fixed based on principle amount only

    Letter of admission

    Completely filled in Loan Application Form
    2 passport size photographs
    Statement of cost of study
    PAN Card of the student and Parent/ Guardian
    AADHAR Card of the student and Parent/ Guardian
    Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity)
    Proof of residence (Driving Licence/Passport/Electricity bill/Telephone bill)
    Student/Co-borrower/ guarantor's bank account statement for last 6 months
    IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee)
    Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower
    Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower