Education loan 2026
Education loan for your dream college
Do not let fees stop your admission. Compare education loan options from banks and NBFCs, check your eligibility and get help with the paperwork.
- Loans for MBA, B.Tech, MBBS, Law and more
- Help with documents and co-applicant
- Free guidance, no obligation
EMI calculator
Estimate only. Your actual rate depends on the lender.
Eligibility and documents
- Indian student with confirmed admission
- Parent or guardian as co-applicant
- Course at a recognised college or university
- Admission letter and fee structure
- 10th, 12th and degree mark sheets
- Aadhaar, PAN and passport-size photos
- Aadhaar and PAN
- Salary slips or ITR for the last 2 years
- Bank statements for the last 6 months
Frequently asked questions
Do I need collateral for an education loan?
Many lenders give education loans without collateral up to a certain amount, often in the range of ₹4–7.5 lakh. Larger amounts usually need collateral or a third-party guarantee. Limits differ by lender.
When do I have to start repaying the loan?
Most education loans have a moratorium period: the course duration plus 6 to 12 months. During this time you may pay only the interest or nothing at all, depending on the lender. EMIs start after that.
Is there a tax benefit on an education loan?
Yes. Interest paid on an education loan can be claimed as a deduction under Section 80E of the Income Tax Act for up to 8 years, if you file under the old tax regime.
What interest rate will I get?
Rates depend on the lender, the course and college, and the co-applicant's income and credit score. They commonly range from about 8% to 16% per year. Our counsellors help you compare offers.
Who can be a co-applicant?
Usually a parent or guardian. Some lenders also accept a spouse, sibling or other close relative with a steady income.
Still choosing a college? See Admission 2026