Education Loan Overview

Don't let your desires stop you, get all kinds of help regarding education, apply for education loan and let your career soar. Today we are going to give you some information about education loan with the help of this article. Education loan is such an important thing which is necessary in everyone's life.


Every person can take this loan in their life.

We all know that not everyone in our country is rich enough to enable their children to get higher education, but it is the dream of every parent and children to have higher education like others, But despite being intelligent, he is not able to get education, the main reason for this is the lack of money.


Quality education is very important for a complete and successful life of a person. For some people, it may be a graduation from a top institute. In an era when the cost of education is increasing continuously, the cost of studying in top institutes of the country and abroad is very high.

What does education loan cover?

Your Education Loan Covers Below mentioned expenses of you Education:

-100% college tuition fees.

-Accommodation charges including mess.

-Exam and library fee.

-Books and equipment (Laptop etc.)

-Travelling expenses for abroad.

Eligibility Criteria For Education Loan

If you want to get loan for your higher education in India or abroad, our firm is providing you an education loan. Before applying the loan, you must fulfill the mentioned eligibility criteria.


Applicable for students who:

- Are Indian citizens with 18 years of age or above.

- Get a certain admission before final disbursement of the loan amount.

- Added a co-borrower who is residential in India.

(Co-applicant is mandatory like, your - parents/ Guardian & Spouse etc).

- Your admission should be confirmed in college/ University recognized by UGC/  Govt./ AICTE or in a foreign university.

- Loan is available for graduation and post graduation. Some banks provide this loan for vocational training also.


They also require co-borrowers to meet the following criteria:


- He/She must be an citizen of India and also should be a parent, legal guardian, sibling or other blood relative.

- He/She must have a bank account in India that allows him to sign cheque.

- Must be the primary levanter.


Apart from this, loan can be taken for graduation or post graduation studies in engineering, management, medical, hotel management and architecture etc.

Features Of Education Loan

The loan amount can be up to 1 crore for international students and 50,000 rupees for domestic students.
Preferential foreign exchange rates may be available for international payments.
The repayment period of loan can be up to 12 years after completion of six months of the course.
Parents must be co-applicants of the education loan.
100% financing is available under certain conditions.
Funding covers other costs, such as student travel costs and laptop computers.

Process For Applying an Education Loan

Step 1 – Applying online and get your best education loan offer in just few minutes.


- By filling all the details on the application profile page Complete your online application for education loan.


- After submitting your loan application online, the screen will show you an education loan offer right away.


- Get the condition online and choose the loan amount required for the education term.


- Please make a call to the GRD IND team for a personal assessment.


- After the trial, you will receive a provisional approval letter.



Step 2 - Acceptance and agreement


- At this stage, all the documents of interest will be attached, and a small part of the payment process will be paid to get the official acceptance letter. You will need a government acceptance letter when you apply for a US student visa, and Form 20.


- After receiving the visa and form 20, you need to enter it on the application profile page created earlier.



Step 3 - Repayment & amount disbursement:-


- You will receive a loan agreement where both parties will need to sign the loan agreement.


- Banks mostly charges only 1-2% processing fee for education loan amount. A processing fee is charged only when you apply for funds.


- After completing the process  Whenever you need to collect funds, you can raise request for funds and the lender will transfer the funds to your account.

EMI Calculator & Schedule


Loan EMI


Total Interest Payable


Total Payment
(Principal + Interest)


Loan Eligibility Calculator


Related Frequently Asked Questions

Students going abroad for studies or higher education in India can take a loan. The loan amount for studies can be different in both the places and it also depends on the bank.

It is to be noted that you can get education loan without financial co-applicant but primary co-applicant is mandatory for contact purposes only and their financial status will not be checked. The co-applicants can be from your family i.e. parents, mother-in-law, siblings and spouse.

Under this loan scheme, you can get maximum amount of 15 lakhs for your studies in India and can get more than 25 lakhs for studies in abroad. Whenever you take an education loan of up to Rs 4 lakh, only the student and the parent have to sign the all necessary document and then there is no requirement of collateral.

If the interest is paid in full before the beginning of repayment; EMI is fixed based on the principal amount. There is no penalty fee for prepayment. Anytime you can prepay your loan.


News Update on Education Loan

5 things to know before availing an education loan

Admin 2023-12-29 12:46:39

Education loans play a pivotal role in shaping the academic aspirations of students across India. As the cost of education continues to rise, these loans serve as a financial bridge, enabling individuals to pursue higher studies and achieve their career goals.

Education loans are offered by banks and financial institutions to support students’ educational aspiration. These loans typically cover tuition fees, accommodation expenses, study materials, and other related costs incurred during the course duration.

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