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Education Loan

Invest in the degree, not the worry.

Loan amount: Up to ₹1.5 Cr
Interest rate: From 8.15%* p.a.
Tenure: Up to 15 years
Benefit: Section 80E deduction
Minimum ticket size: ₹8 Lakh

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At A Glance

Purpose: Studies in India or abroad: tuition, living costs, travel and equipment
Who can apply: Confirmed admission and an earning co-applicant based in India

See all 6 requirements

The Short Version

What Education Loan actually does for you.

Funding for studies in India or abroad, covering tuition, living costs, travel and equipment. Loans with collateral usually have lower interest rates. Loans without collateral for studying abroad usually cost more but can be quicker to process.

What's included

Available with or without collateral, depending on the amount
No EMIs during the course, plus a moratorium/grace period after
Interest is tax-deductible in full under Section 80E, with no upper cap
Support with university and visa-related documentation

Do you qualify?

Confirmed admission to a recognised institution in India or abroad
An earning co-applicant based in India
Collateral typically expected once the loan crosses the unsecured threshold, especially for overseas study
Indian student, with a resident Indian co-applicant who is usually a parent or guardian
A co-applicant who is salaried or self-employed with a steady income
A good credit record for the co-applicant helps

Which One Are You

StudentThe person who will study. The lender looks at the course and the institution, the total cost and your academic record, along with a co-applicant who shares the loan. Having your admission letter and fee details ready speeds things up, and for study abroad your visa papers come in later.

Co-applicant: SalariedA parent or guardian in India who earns a salary and shares the loan. The lender looks at their salary slips, bank statements, tax returns and credit history, because they are the main source of repayment during and after the course.

Co-applicant: Self-EmployedA parent or guardian in India who runs a business or practises a profession. The lender looks at their tax returns, financial statements, business bank statements and credit history, because they are the main source of repayment during and after the course.

Documents Required (Checklist)

For Student

Student's KYC: PAN or Aadhaar, and passport for study abroad
Admission letter or offer letter from the institution
Fee structure and the cost of the course, with living costs if you want them covered
Mark sheets and certificates from the last two qualifications
Entrance or language test score card, where applicable (for example GRE, GMAT, IELTS)
Visa or I-20, once you have it, for study abroad

For Every Applicant

KYC (PAN, Aadhaar, address proof)
Admission letter and fee structure
Academic records

This is the usual list for each type of applicant. Get the exact checklist for education loan, sent as a PDF you can save or print.

Fees and other charges

Besides interest, a lender may charge a few fees. It helps to know them before you apply, so there are no surprises.

Processing fee

Many lenders charge little or no processing fee on education loans, especially for smaller amounts. For larger loans it is often a small percentage plus GST.

Interest during the study period

Interest usually starts when the money is paid out. You may be able to pay it during the course, or let it add up and begin EMIs after the moratorium.

Legal, valuation and insurance

Where the loan is backed by property, the lender may charge for a legal check and a valuation. Loan insurance is charged only where you take it.

Foreclosure and part-prepayment

Many lenders allow early repayment of education loans with little or no charge. Check your lender's terms.

These are general guides and every lender sets its own fees. Your expert will share the exact charges in writing before you sign.

Why Growth Capital Services

One conversation, many lenders to compare.

We are a loan consultant, not the lender. We help you compare options from 75+ Banks and NBFCs, prepare your documents, and follow your application through each step.

Check Your Eligibility Talk to Our Loan Expert

Important note: Interest rate, loan amount, tenure, charges, eligibility, approval and disbursement depend on the policy of the respective Bank or NBFC, your profile, credit assessment and the applicable terms. Growth Capital Services is a loan consultant and does not lend money itself. The details on this page are for general information.

Run the numbers

Calculators for your Education Loan

Try your own figures before you apply — nothing is saved or sent.

EMI Calculator

Plan your loan payments

Adjust the sliders to estimate your monthly EMI, total interest and total repayment.

Loan Amount

₹50.00 L

₹1 L₹10 Cr

Interest Rate (p.a.)

5%24%

Loan Tenure

Years

1 Yr30 Yrs

Monthly EMI: ₹46,607
Total interest: ₹61,85,574
Total payable amount: ₹1,11,85,574

EMI₹46,607per month

Principal (45%)

Interest (55%)

Talk to an Expert

Step-by-step guide

Education Loan process, step by step.

An education loan is planned around the course and the college. Here is how it moves.

Share the course and college

Tell us the course, the institution, the country and the fees.

Plan the loan

We work out the loan amount, whether collateral is needed and who will co-apply.

Choose a lender

We compare lenders on rate, moratorium and coverage of costs.

Submit documents

You provide the admission proof, academic records, the co-applicant's income proof and KYC.

Sanction and fee payment

After the sanction, the lender usually pays the fees to the institution directly.

With GCS, your expert looks at your profile, matches it with suitable lenders, and coordinates with the banks for you. That means less confusion and more confidence when you apply.

Worth Comparing