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Banks are providing educational loans for study abroad & India. The loan is available from all branches in metro/urban areas as well as those having personal banking divisions.

The Scheme

These loans are specifically offered for the pursuit of academics in recognized schools, colleges and various other educational institutions, both in India and abroad. You may avail of this loan facility to meet:

Fees payable to college/school/hostel.
Examination/Library/Laboratory fees.
Purchase of Books/Equipment/Instruments/Uniforms.
Caution Deposit/Building Fund/Refundable Deposit.
Travel Expenses/Passage money for studies abroad.

Purchase of computers considered necessary for completion of course


You can take a loan for pursuing studies in recognised schools/colleges/ institutions to meet:

* Tuition and other fees.
* Maintenance costs, books & equipments, etc.
* Cost of passage (for studies abroad).
* Caution fund/building fund/refundable deposit.


Any student who is an Indian national and

Has secured admission to a professional or a technical course through an Entrance Test or any other Selection process or
Has secured admission to a foreign University or Institution

Is Eligible For Loan

Loan Amount

The loan amounts financed are need-based and subject to the concerned parents and/ or students repaying capacity and the following ceilings:

Education in India : A Maximum of Rs.7.50 lacs

Education Abroad : A Maximum of Rs.15.0 lacs

Documents Required

Please refer to the comprehensive list below, to ensure that you don't leave anything out at the time of submitting your completed Education Loan Application Form.

The mark sheets of your last qualifying examinations for school and graduate   studies in India.
The proof of admission scholarship, freeship, studentship etc.
The Schedule of expenses for the specified course.
The copies of letters confirming scholarships, etc.
The copies of foreign exchange permits, if applicable.
2 passport size photographs.
The borrower's Bank account statement for the last six months.
Income tax assessment order, not more than 2 years old.
A brief statement of assets and liabilities, of the borrower.
Proof of Income (i.e Salary slips/ Forms 16 etc).


For loans up to Rs.4.0 lacs : No Margin

For loans above Rs.4.0 lacs: The Margins are as under:
     o In the case of Education in India, the margin is 5%
     o In the case of Education Abroad, the margin is 15%


The lowest interest rates - currently between 10.5% p.a. and 11.5% p.a. - Simple Interest, during the moratorium period.


Directly to University/College/Hostel/Book Supplier/ Airlines,etc.

Repayment of loan

Repayment Holiday for the duration of the course period PLUS one year or six months after getting a job - whichever is earlier.

The loan then needs to be repaid in 5-7 years after the commencement of repayment.


Tangible security FDR/NSC/Units/Shares/Debentures Equitable mortgage/surrender value of LIC policy etc. to be given along with parent/ guardian's guarantee.

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