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About Education Loan

We believe, given the right tools and aid every child has the potential to be successful. Our education loans aim to be the very tool that will enable them to reach their goals in life.

Education is one of the most important factors in shaping a person’s life. It is the key to unlocking opportunities, pursuing a fulfilling career, and building a better future for oneself and one’s family. However, the cost of higher education in India has been steadily rising over the years, making it difficult for many students and their families to afford.

This is where education loans come in as a viable option to finance higher education. An education loan is a type of loan that is offered to students who wish to pursue higher education in India or abroad. These loans cover a wide range of educational courses, including undergraduate, postgraduate, vocational, and professional courses.

The education loan amount can be used to cover tuition fees, accommodation expenses, travel expenses, and other related expenses.

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Student Loan

100% education finance now at your doorstep!! You can also pay your easy repayment from abroad also. Customized education loan solution as per your needs.

Foreign Education Loan

Apply now for best education loan with LoanBaazar.com. 2000+ happy customers who are granted for education loan. Instant response from our advisor.

Employer Education

To get Education Loan, apply online and check your eligibility, for flexi EMI repay and you can also compare Borrow education loan with our compare table with others.

Certificate Courses

Borrow is one of the best loan company to provide variation in loan products.For more detail you can check our loan products. Get a student loan upto 10lakhs and get higher education..

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Features of Education Loan

All loans are not created equal, Education loan has become a great option for students looking for higher studies .

Amount Limits

The loan amount for education loans can range from a few thousand rupees to several lakhs of rupees, depending on the course and the institution. Most banks offer education loans of up to Rs. 20 lakhs for studies in India and up to Rs. 1.5 crores for studies abroad. However, the loan amount also depends on the applicant’s creditworthiness and the co-applicant’s income.

Interest Rate

The interest rates for education loans in India vary from one bank to another. Typically, the interest rates for education loans range from 9% to 15% per annum, depending on the loan amount, the course, and the institution. Some banks also offer lower interest rates for female applicants and those who secure admission to premier institutions.

Tax Rebeate

Deduction on interest paid – Under Section 80E of the Income Tax Act, individuals can claim a deduction for the entire amount of interest paid on an education loan. The deduction is available for up to 8 years or until the loan is fully repaid, whichever is earlier. There is no limit on the amount of interest that can be claimed as a deduction.


The repayment period usually begins after the completion of the course or a few months after the borrower starts working. Additionally, some lenders offer a moratorium period or a grace period during which the borrower need not make any payments. It is important to carefully read and understand the terms and conditions of the loan agreement before taking out an education loan.

Education Loan - Eligibility

The borrower should be enrolled in a course or program that leads to a degree or diploma recognized by UGC, AICTE, or any other competent authority. Most lenders require the borrower to have a co-applicant or a guarantor, who could be a parent, spouse, or guardian with a stable income and good credit history.


The borrower should be a minimum of 18 years old and not more than 35-40 years old, depending on the lender’s policy


Most lenders require the borrower to have a co-applicant or a guarantor, who could be a parent, spouse, or guardian with a stable income and good credit history.

Credit Rating

The borrower should have a good credit score and a steady source of income to ensure timely repayment of the loan.

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

Students who have secured admission to a recognized course or program in India or abroad are eligible to apply for an education loan. The eligibility criteria may vary from lender to lender.

Depending on the loan amount, lenders may require collateral, such as property or fixed deposit, to be pledged as security for the loan. However, some lenders also provide unsecured education loans.

Yes, education loans are available for students who wish to pursue their studies abroad. However, the eligibility criteria and loan amount may differ from that for domestic courses.

The maximum amount of education loan one can get depends on the lender’s policy, the type of course, and the institution. Generally, education loans up to INR 20 lakhs can be availed without providing any collateral.

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Now apply for a Education Loan online, All you need to do is provide your details below application form.