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

1Upto Rs. 7.5 LacsOnly Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee
2Above Rs. 7.5 LacsParent/ 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


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