Best Education Loan Providers in India

Best Education Loan Providers in India | Edubridge

Are you looking for the best Education Loan Providers in India? If yes, Edubridge is the best fit for you. There are many Government and private banks that provide you with education loans and help you finance your studies. Eligible students can apply to get an education loan with the required documents to finance their higher studies in India or abroad. We are here to help you to manage your education-related finances by providing you with a loan. We have a partnership with trusted banks and loan providers. Our secure education loan in India helps you to cover the education costs, which include course fees, living costs, and miscellaneous fees. We provide you with loans at lower interest rates from our trusted loan partners. Our top Education Loan Providers in India are SBI Bank, Axis Bank, Union Bank of India, and many more.

Education Loans in India

An education can frequently be the gateway to fulfilment in life. Pursuing higher education in universities abroad gives an awesome opportunity for great job placements. This opportunity is also visible as an extremely good gaining knowledge of experience in many fields. At Edubridge, we provide education loans to lakhs of students and help them financially. Almost all banks and many NBFCs and fintech creditors are our trusted loan partners. We bring you a list of a number of the top Education Loan Providers in India.

Features of Best Education Loan in India

Here are some features of the best Education Loan Providers in India that you need to know about. These elements will assist you in doing a brief evaluation of education loans.

  • Loan Amount- The maximum loan amount provided by  Banks and private institutions varies depending on course. Analyse and pick out the perfect way to have a look at a loan for yourself.
  • Interest Rates- Another important factor to decide the best education loan in India. Students decide on the study loan with lower interest rate. Note that banks provide reduced ROI loans to students with top education data and female students.
  • Processing Fees- Loan processing fees are the costs to cover the administrative fees for the education loan system. It varies from bank to bank.
  • Repayment Rules- An student education loan in India with longer tenure allows for lower EMIs but will increase the costs of a student loan. You can use the Education loan calculator to go online to do an analysis.
  • Moratorium Period- A longer moratorium period lets you delay repayment until after your studies. Public sector banks commonly offer a moratorium time and a grace time or EMI for education loans.
  • Pre-visa and Post-visa Disbursement- It is a critical component to determine the best education loan in India for you. Some banks offer pre-visa disbursement to pay the course fees, travel arrangements and other costs. On the other hand, a few financial establishments offer Post-Visa disbursement to manipulate the cost of living in the course of studying abroad. Understand your need, after which you can apply for a student education loan in India to study overseas.

Top Education Loan Providers in India

India, nowadays, has grown to be a hub for not only IT or Commerce departments but also some of the main financial sectors in the world. These sectors encompass diverse economic institutions in the forms of Banks and NBFCs that not only help you stabilise and keep your assets but also help you in times of crisis or need. One such want is the increasing demand for education loans in India.

To ease the technique of fetching credible and reliable retailers for choosing education loans, we’ve created a listing of a number of the most popular and Top Education Loan Providers in India that meet your needs.

1. State Bank of India

SBI, the largest public sector bank in India, offers appealing education loan schemes with competitive interest rates, flexible reimbursement options, and longer repayment durations. It is best Education Loan Providers in India offers education loans for expert and technical graduate and postgraduate courses at official universities. To apply for an SBI education loan, post your admission letter, course fees, and different Know Your Client (KYC) documents. The loan covers education charges, course fees, travel fees, library fees, laboratory fees, examination charges, a warning deposit, and different critical costs.

The maximum loan amount given by SBI is up to Rs. 30 lakh, with collateral safety required best for loans above Rs. 7.5 lakh. The processing costs are waived for loans up to Rs. 20 lakh, and the loan margin rate is 15%. Repayment begins after a year of finishing the course, with a compensation time of up to 15 years. The  education loan interest rate in India is up to 2% of the SBI’s current base rate. Additionally, SBI gives special education loan for girls students in india.

Type of Student Loan

Amount

Rate of Interest

Student Loan

Max Rs. 1.5 Cr.

10.05% constant

Global Ed-Vantage

Rs. 20 Lakhs-1.5 Cr.

10.05% constant

SBI Education Loan Eligibility Criteria

The eligibility criteria for SBI Education Loan will vary depending on the scheme under which the loan is being availed. Some of the common eligibility criteria for education loans are given below:

  • The student needs to be an Indian citizen above 18 years of age
  • The admission should have been secured to a reputed  abroad
  • The visa shall be authorised prior to the disbursement
  • The credit rating of the applicant should be accurate i.E. Above 700
  • The student needs to have a good educational record
  • For loans above INR 7.5 lakhs to apply overseas, the application will be made under the SBI Global Ed-vantage scheme

Features of SBI Education Loan

There are various features of SBI education loan. Some of them are as follows.

  • State Bank of India no longer charges processing fees when the students pursue their higher education in India or while the loan amount is below Rs 20.00 lakh for overseas.
  • Top Education Loan Providers in India does not price any hidden costs.
  • Repayment tenure of the loan is up to 15 years.
  • No collateral is needed for the SBI education loan if you borrow as much as INR 7.5 lakh.
  • The loan is extended and does not use a margin on loan amounts up to INR 4 lakhs.
  • Low-interest rate
  • Minimum documentation
  • Pocket-friendly EMIs

2. Axis Bank

Students can seek education loans for overseas studies for technical, expert courses, or profession-oriented courses. This Education Loan Providers in India offers student loans without a maximum amount, beginning at INR 50,000, and covered as much as a 100% of the whole price of check (inclusive of direction costs, fee of books, living & visiting expenses) depending on the requirements and qualifications of the man or woman. The complete method of getting an education loan with Axis Bank is problem-free.

Type of Student Loan

Amount

Rate of Interest

Prime Abroad

Min. Rs. 50,000

Favourable

Axis Bank education loan eligibility criteria

The eligibility for student loan in india are decided by the bank’s regulations at the time of the loan application. Here are detailed eligibility criteria students should follow to apply for an education loan

  • Private information – The applicant has to be over 18 years of age. Both Indian and NRI  students can apply for the loan. However, a valid passport is a need for NRI applicants.
  • Co-Applicant’s personal information – The co-applicant should have an ordinary source of earnings. Adequate documents proving this are required.
  • The education history of a student – The applicant must have scored not less than 50% in his/her HSC and graduation. Other signs of education performance must be beneficial as well.
  • Target application – Axis Bank gives education loans to students who have got admission, through merit-based selection or entrance test, to guides like Medicine, Management, Engineering, and so on. On the Bachelor and Master level. The bank has categorised target better education applications in foreign Universities into 3 classes. These are: Prime A – This class includes Masters applications from top Universities. Students who’ve gained admission to those Universities can get an unsecured loan of up to INR 40 lakh. Prime B – This category consists of master’s applications from other main Universities/ schools, in addition to some bachelor’s programs. The most unsecured loan given in this category is INR 25 lakhs. Non-Prime – All courses not included within the above categories fall on this one. Here, students can get a loan without collateral for an amount up to INR 7.5 lakh.
  • Prime A – This category includes Master’s applications from pinnacle Universities. Students who have been admitted to those Universities can get an unsecured loan of up to INR 40 lakh.
  • Prime B – This category consists of master applications from other main Universities/ faculties, in addition to a few bachelor applications. The most unsecured loan given in this category is INR 25 lakhs.
  • Non-Prime – All courses no longer covered in the above categories fall on this one. Here, students can get a loan without collateral for an amount of as much as INR 7.5 lakh.

Features of Axis Bank Education Loan

Axis Bank’s Education Loan comes with a bunch of advantages together with:

  • Education Loan begins from ₹ 50,000. This guarantees that irrespective of what your background is, you can avail of Axis Bank’s education loan.
  • ₹75,00,000 is the most amount that Axis Bank presently lends to its applicants. So you can be sure that your financial burden can be eased.
  • Axis Bank’s education loan covers not simply the education fees and hostel expenses but additionally the cost of books, amongst different costs.
  • Attractive interest rate. The MCLR (Marginal Cost Based Lending Rate) is at eight.7%.
  • No margin for education loans up to ₹ 4,00,000.
  • 5% margin on education loans, which can be above ₹ 4,00,000 if you pursue your studies in India.
  • 15% margin on education loans which are above ₹ 4,00,000 in case you plan to head to foreign places in your education.

3. Union Bank of India

The Union Bank of India provides education to students keeping brilliant education qualifications if you want to pursue technical/better/expert education in India or overseas. It needs to be referred to that it is mandatory for the discern (s) of the applicant to apply as a co-applicant. If the student is married, his/her partner/discern (s) or in-laws can act as co-applicant (s). If the applicant does not have a parents (not alive), his/her parents or near relatives can act as co-applicants. Also, it’s important for the co-applicant to be an Indian citizen. Courses included PhD courses, Graduation/submit-graduation degree courses, CIMA, London, CPA, USA (and different comparable institutes) conducted certified degree courses.

Union Bank of India education loan Eligibility

Here are the various eligibility criteria students should meet to apply for education loan through this Education Loan Providers in India

  • Nationality: Union Bank education loans are the most available to Indian nationals.
  • Qualifications: Applicants need to have finished their high school education before applying for the education loan. In addition,  students pursuing a postgraduate application need to have completed their undergraduate degree and the different qualifications required by using a top-rated institution overseas.
  • Admission Letter: To apply for an education loan, applicants must first be accepted into this system supplied through the university.
  • Co-applicant: Loan applications have to be co-signed with the aid of the student’s spouse, determined parents, or in-legal guidelines who are Indian residents.

Features  of United Bank of India Education Loan

Following are a number of the features of applying for an educational loan with United Bank of India.

  • Low-interest rate
  • No hidden costs and administrative prices
  • Less paperwork
  • No processing charges
  • No protection is required for as much as 4 Lakhs
  • 50% concession for women students

4. Prodigy finances

Prodigy Finance is one of the best Education Loan Providers in India. Since its establishment in 2007, the organisation has assisted over 20,000  students in obtaining more than $1 billion in investment for their postgraduate course without the need for co-signers or collateral. Prodigy Finance makes a speciality of debtors’ future earning ability as opposed to their credit or CIBIL ratings to build a flexible application that qualifies a better percent of overseas students.

Feature

Details

Loan Amount

Up to 100% cost

Interest Rate

11.5% – 13.5%

Interest Rate Type

Floating

Minimum Income

Not Required

Processing Fees

Upto 5%, introduced to loan amount

Other Charges

No Charges

Margin Money

0

Loan Tenure

Up to 15 years

Processing Time

Upto 7 days

Prepayment Penalty

No Penalty

Eligibility Criteria For Prodigy Finance Education Loan

It’s essential to understand what factors creditors check whilst selecting loan applications. This consists of your education performance, history, and your expected future income. Understanding the particular standards of each lender enables you to educate if you qualify and find the one maximum in all likelihood to aid your plans for global education. Given below are the Education Loan Providers in India Terms and Conditions that make you eligible for an education loan

  • You need to pick out a university and a direction that it accepts. Prodigy Finance currently serves over 750 institutions worldwide. However, its programmes are limited to the ones in specific fields it supports.
  • You have to make preparations earlier to study overseas. You have to check options to attend a university in a country aside from your private life. You may be qualified if you’ve lived in that country. You wish to study for less than a year while you apply.
  • You should also belong to one of the 120 countries supported by Prodigy Finance. It will not lend in a few regions, areas, and states in the United States and Canada.

Features  of Prodigy Finance education loan

Here are the various unique features of the Prodigy Finance education loan you should know before applying for it

  • Wide preference for reimbursement time period: You can select compensation term times starting from 7 to 20 years. Keep in mind that opting for a long term lowers your monthly price however boosts how much education loan interest rate in India you pay—unless you pay off the loan early.
  • No co-signer, credit score, or collateral wanted: Most education loans require you to have a cosigner, that is a trouble in case your family isn’t always capable of trying this. Prodigy Finance offers loans primarily based on your future earning ability—no longer just you and your own family’s current state.
  • Can get a fee before you’re admitted to a sure application: A huge distinction with Prodigy Finance is that you may get a couple of loan rates for different faculties if you’re not decided. Together with your economic resource bundle, you may use that data to choose the cost effective desire for you. You will need a letter of admission to finalise your loan offer, however.
  • Lots of help with investment and international student life: Navigating investment, visas, admissions, and living overseas is tough, and Prodigy Finance steps up beyond different lenders to assist you with those areas too

5. Auxilo

Auxilo Finserv Pvt. Ltd is an another Education Loan Providers in India based in 2017. It offers students various financial services if they want to pursue their studies without facing economic hurdles. The best education loan in india for study abroad offered by Auxilo covers living and various fees.

Loan Parameters

Details

Loan Limit

Up to 80 – 90 Lakhs*

Interest rates

Starts from 12%

Repayment Duration

Upto 12 years

Eligibility Criteria  of Auxilo Education Loan

The following are the eligibility for student loan in india:

  • A minimum age of 18 or older is required for the candidate.
  • The applicant needs to be a citizen of India.
  • Before Auxilo disburses a loan, the institute must well know that the application has been regularly occurring.
  • A co-borrower who is employed in India must co-sign the application.
  • The co-borrower needs to fulfil the following requirements:
  • The co-borrower has to be connected to the applicant (figure, parent, sibling, or other relative) and a citizen of India.
  • The co-borrower has to have a bank account in India that permits check transactions.
  • Co-borrower will act as the primary debtor

Features of Auxilo Education Loan

Here are the various unique features of education loan at this Education Loan Providers in India

  • Loan Amount Flexibility  

Auxilo Education Loans provide flexibility by not putting a top limit on the loan amount, imparting students with the economic guide they need for his or her education.

  • Processing Fees  

The Auxilo Education Loan processing fee ranges from 1-2% for students making plans to study abroad, making sure an inexpensive cost for facilitating the education loan application process in India

  • Interest Rates      

Auxilo Education Loan interest rate ranges from 10.5-16%. However, the precise interest rate depends on factors that include the university fees and the country for which you apply for an education loan.  

  • Co-Applicants      

Co-applicants for Auxilo Education Loans can encompass mother and father, siblings, cousins, and in-legal guidelines, presenting a range of options for students to pick out their co-applicants.

  • Covered Expenses 

Auxilo covers an extensive range of expenses under its education loan, consisting of hostel/university fees, library expenses, books, uniforms, exam costs, travel costs, and laboratory expenses. This Education Loan Providers in India guarantees that students can recognize their studies without being disturbed by financial constraints.

  • Education Loan Repayment Process and Moratorium Period

Auxilo gives a 12-year reimbursement time, offering an inexpensive timeframe for loan reimbursement. Additionally, a moratorium period of 1 year after a course of the entirety offers students a transition time before they begin repaying the loan.

  • Courses Covered

The education loan through this Education Loan Providers in India covers loads of courses, consisting of PG, STEM courses, MBA, Arts, and Abytion courses* (special permissions required). This large insurance guarantees that students pursuing special fields of application can gain from Auxilo’s economic aid.

6. ICICI Bank

ICICI Bank is the other best Education Loan Providers in India. It offers Rs. 50 lakh for Indian education and Rs. 1 crore for worldwide education. There is no collateral safety for education loans of as much as Rs. 20 lakh in case you are applying for undergraduate courses and up to Rs. 40 lakh if you are applying for postgraduate guides. 

No loan margin is required if your education loan is as much as Rs. 20 lakh. ICICI Bank’s interest rate is between 10.25% and 12.75%. You will want to begin repaying your loan after 6 months of finishing your course.

Feature           

Detail

Loan amount  

A1 – 50 Lakhs INR

A2 – 40 Lakhs INR

A3 – 15 Lakhs INR

A4 – On an immediate EMI foundation

Interest rate   

A1 – 10. 95%

A2 – 11.70%

A3 – 12.25%

A4 – 12.50%

Eligibility for ICICI Bank education loan

There are a few eligibility for student loan in india which you have to satisfy to ensure that you can get an education loan. The eligibility requirements are –

  • Must be an Indian citizen.
  • The goal or university that you are admitted to needs to be from the list authorised by ICICI Bank.
  • The co-applicant must be – Father, Mother, Brother, Sister, Spouse (Husband/Wife), and Maternal/Paternal Uncle.
  • Applicant’s age should be between 16 – 35 years.

Features of ICICI Bank Education Loan

This Education Loan Providers in India offers education loans up to INR 1 Crore, and there may be no margin money needed for loans up to INR 20 lakh. Other key functions of ICICI Bank Education loan are,

  • No limitations on pre-charge or an element fee
  • Other expenses like student options, travel fees, and the computer are additionally included.
  • Pre-visa disbursal for students apply for education in distant places
  • Minimum documentation in conjunction with an added percent of no collaterals or securities for loan as much as 7.5 lacs
  • No Processing Charges; No Foreclosure Penalty
  • Faster Processing and Easy Documentation

7. IDFC first bank

IDFC First Bank offers smooth financing for pursuing higher education in India or abroad. Understanding aspiring students’ aims and needs, the bank provides education loans of as much as INR 50 lakhs without collateral and INR 1 crore with collateral. What makes this Education Loan Providers in India the most popular choice amongst students are the attractive interest rates beginning from 9% p.A., quicker loan sanctioning, and hassle-free education loan application process in India. Here’s an outline of IDFC First Bank education loans-

Quantum of Finance  

Up to INR 50 lakhs (without collateral)

Up to INR 1 crore (with collateral)

Interest Rates  

9%-15% p.A.

Repayment Tenure    

Up to 15 years

Eligibility criteria for IDFC First Bank Education loan

To be eligible to apply for the education loan at this Education Loan Providers in India, the student must meet the following requirements

  • Nationality: All Indian passport holders can apply for an IDFC Study Abroad Loan, including Non-Resident Indians (NRIs).
  • Age: Students need to be 18 or older when applying for an education loan.
  • Qualifications: Graduation and diploma courses require the student to complete Standard XII. In addition, the students have to be graduates in the area to be eligible for post-graduation programs.
  • Acceptance: The student needs to have obtained confirmed admission to the program in distant places. A student may be able to apply for a loan sanction before their admission is confirmed, but that depends on different factors, which include the type of course, the organisation, and the country.

Features of IDFC First Bank Education Loans

IDFC FIRST Bank instant student loan in India provide numerous benefits, along with –

  • Education loans are available for as much as INR 1 Cr.*
  • Collateral-free loans up to INR 50 lakhs
  • Up to 100% financing
  • Flexible loan tenure up to 15 years
  • Flexible compensation options
  • Hassle-free education financing is fulfilled at your step
  • Customised solutions according to your needs
  • Income tax benefits under phase 80E
  • Funding extra fees (journey expenses, buying of laptop/books/uniform, insurance fees, etc in conjunction with university-related fee

8. Incred

InCred Finance is a non-banking financial organisation that offers financial help through its one-of-a-kind education loan schemes. The main aim of this business enterprise is to create a system of economic establishments, remove traditional ways of lending and set up an easy model of offering loans using the state-of-the-art generation and aiming to fulfil the student’s requirements.

The Education Loan Providers in India aims to assist the students of India in their educational journey. It gives cost-effective and interest rate effective loan plans to students.

Features         

InCred

Maximum loan amount

INR 20 – 80 Lakhs

Interest rate   

11.65% – 13.5%

Course duration

 1 year or more

Processing fees           

0.5% – 1% of the loan amount + GST

Loan tenure    

12 – 15 years

Eligibility Criteria for InCred Education Loan

The students who want to apply for an InCred Education Loan Providers in India should meet the education loan eligibility criteria in India

  • Nationality & Age Requirement

Applicants should be Indian residents and, as a minimum, 18 years old at the time of application.

  • Education Requirement  

You must have secured admission to a recognized university. Additionally, you need to illustrate a consistently robust education overall performance.

  • Course Accreditation        

The Education Loan Providers in India covers ordinary graduate/postgraduate courses, diplomas, certificates, or doctorate programmes presented by way of acknowledged abroad universities.

  • Co-applicant Eligibility     

A co-applicant is needed for the loan application, who may be a figure, sibling, partner, relative, or legal parent. The co-applicant should have consistent earnings and credit records.

  • Eligible Countries

As of now, the InCred abroad education loan gives financing alternatives in the United States and Canada. Depending on the course and program, loan programs might be processed for other locations.

Features of InCred education loans

InCred is a quick-growing NBFC that, for the reason of its established order in 2017, has sanctioned 500 million USD worth of education loans. InCred education loans cover 25+ nations and 600+ guides. Generally, InCred loans are higher ideal for students with work experience in their discipline of study.

Given below are the features of education loans by this Education Loan Providers in India for a few famous countries and guides:

  • For the United Kingdom and Ireland, InCred offers education loans of as much as INR 25 Lakhs to the simplest select universities based on the student’s work experience, GRE ratings, and co-applicant income.
  • For the PG Diploma in Canada, InCred gives up to INR 20 Lakhs at a Partial Simple Interest charge.
  • InCred education loans for Australia and New Zealand are usually as much as INR 15 Lakhs and are given on an immediate EMI foundation.

If InCred finds the financial co-applicant profile vulnerable, then the student needs to pay the preliminary PSI of the course time + grace period before the first disbursement. The coverage amount you need to pay is usually 1% of the loan amount.

9. Mpower financing

MPOWER Financing is a Education Loan Providers in India that offers education loans for international students pursuing better education in the US and Canada. They verify programs based totally on a student’s future earning capability from the degree or application they attend.

Feature

Detail

Loan Amount

Upto 100,000 USD

Interest Rate

12.99% – 15.59%

APR*

For Graduate Programs – 13.98% For Undergraduate Programs – 15.01%

Interest Rate Discount

0.25% (in case you signal up for autopay)

Eligibility criteria for the MPower Financing Education Loan

The eligibility standards for an MPower Finance education loan –

  • An undergraduate or graduate student in 2 years of graduating or admitted to a 2-year or a 1-year application
  • An international student, DACA recipient, a US citizen, or refugee or asylum seeker
  • Admitted to one of the 350 permitted schools and universities in the US or Canada

Features of MPower Education Loans to Study Abroad

As per the Ministry of External Affairs, Government of India, 1.5 million Indian students are studying abroad in a number of the top locations like the US, and Canada. If you are one of them meaning to pursue better education in those international locations, check out why you need to keep in mind MPower financing. Let’s speak about a number of the capabilities of MPower Education Loans.

  • MPower Finance affords instant student loan in India to aspiring students pursuing better education in the US and Canada and supports more than 4 hundred schools and universities in those countries.
  • Students can avail education loans without a cosigner or collateral as MPower financing assesses a person’s future incomes potential to assess the application.
  • MPower Finance can assist students build their US credit history by making well timed bills for the duration of the loan repayment tenure.
  • The application procedure is tremendously brief, with a smoother loan disbursement.
  • MPower Finance education loan interest rates in India start from 12.99% p.A. (13.98% APR), and the interest rates stay fixed throughout the whole loan reimbursement duration. Students who enrol in automated payments can get 0.25% discounts.
  • 100% education investment is given along with living costs for faculties in the US.
  • There are no prepayment penalties.
  • In addition to education loans to study abroad, MPower gives studentship opportunities, visa support, and professional support.

10. Avanse Financial Services

Avanse offers various types of loans like pre-visa disbursement loans, pre-admission loans, and certificates of availability and price range. Borrowers have to submit their KYC documents, course expenses, collateral documents, earnings documents, etc. After they avail themselves of an Avanse education loan, Avanse best education loan in India covers education costs, travel expenses, living costs, books /system prices and other related fees.

Type of Student Loan

Amount

Rate of Interest

Avanse

Min. Rs. 1 Lakhs

Starting from 9.5%

Eligibility for avanse education loan

In order to apply for an education loan through this Education Loan Providers in India, a student needs to be 18 years or older and an Indian citizen with confirmed admission. They additionally want a co-borrower in India who meets certain standards, along with citizenship, a bank account in India, and one who’s a determined legal guardian, sibling, or blood relation. The co-borrower needs to additionally be the number one debtor.

Students can use education finance for various courses, which include graduate, postgraduate, and professional diploma or diploma programs from UGC (University Grant Commission), AICTE (All India Council for Technological Education), IMC, and authorities-authorised faculties and universities in India. This consists of executive MBA programs. Additionally, Finance is to be had for technical and expert guides.

Features of Avanse Education Loan

Some of the features of Avanse education loans are given below

  • Avanse offers 100% investment for education charges.
  • The minimum student loan amount is Rs.1 lakh.
  • The loan given by Education Loan Providers in India covers pre-admission fees.
  • The business enterprise presents a user-friendly application process. Students can get assistance from the enterprise throughout the documentation method.
  • The agency promotes responsible borrowing by encouraging clients to have amazing credit score records.
  • The education loan account may be controlled online with the aid of students.
  • To study abroad, the organisation gives a certificate of availability for the price range.

11. HDFC Credila

HDFC Credila is another best Education Loan Providers in India gives education loans with preferential interest rates for reputed universities. Thousands of students who are studying out of doors India have received a budget from HDFC Credila. The admissions and educational structures in India and different countries are acquainted with HDFC Credila. HDFC Credila gives specialised solutions with capabilities and high carrier requirements.

 In comparison to banks, which normally rate a hard and fast rate for a certain organisation of students, HDFC Credila offers more than a few prices based on the group, the co-borrower, the collateral security provided, and the student’s educational record. Customised student loans are available through HDFC Credila.

Type of Student Loan

Amount

Rate of Interest

HDFC Credila

Min. Rs. 1 Lakhs

12.80%

HDFC credila Education Loan Eligibility

Here are the education loan eligibility criteria in India students should meet to apply for education loan at HDFC credila

  • Indian Citizen. A student needs to be a resident of India or be in ownership of an Indian passport.
  • Above 18 years of age. An applicant needs to be above the age of 18 years and, as a result, have to have qualified 10+2
  • Graduation/ Post-Graduation guides. You need to have secured admission to a graduate or postgraduate course in a recognized institute.
  • Co-Signer. A co-signer is a must for complete-time programmers. Also, the co-signer should be a direct member of the family.

Features Of HDFC Credila Education Loan

The following are some of the unique features of an HDFC Credila Education Loan Providers in India

  • No margin cash is required
  • Tax Benefits under Section 80-E of the Income Tax Act
  • Loans with a long time leading to low EMIs
  • Flexibility in collateral safety necessities
  • Even earlier than they start applying to institutions,  students may additionally have their education loan pre-authorized
  • If the lender thinks you’re creditworthy and you have a very good credit score record, you might be capable of getting an education loan without having to give any collateral.

Cheapest Education Loan in India for Study Abroad

In the face of growing costs in terms of tuition fees, living expenses, and different miscellaneous expenses, it will become essential for students planning to pursue their studies out of the country to apply for a number of the right Education Loan Providers in India options in India to study abroad.

Now selecting the best loan option can be tough but, if one considers numerous elements before opting a long-time period financial borrowing it is able to come to be pleasant and mandate necessities from the loan. Some of the factors that a borrower must not forget earlier than apply for an affordable Education Loan Providers in India to study abroad are as follows

  • One needs to recall giving their first choice to a government-owned bank whilst choosing a Education Loan Providers in India for your education loan to education abroad.
  • The majority of public banks or establishments provide a subsidised and reasonably-priced charge of interest for education loans that are way less expensive in comparison to the private banks in India.
  • The borrower needs to additionally hold in thoughts the tax benefits that a particular bank could provide you in case you choose to opt for the education loan given by their group.
  • The EMI instalment process also turns into a full-size choice, even when deciding on the Bank or NBFCs for study abroad loan sanction and the standards for Cheapest Education Loan in India.
  • An applicant also needs to be aware of the processing fees and expenses when choosing an Education Loan Providers in India, as most of the banks apply it at a mandated rate before starting up the entire loan granting procedure, consequently making it a crucial component to recall in terms of affordability.
  • Some of the famous banks that provide the most inexpensive education loans in India to check abroad are the State Bank of India, Bank of Baroda, Union Bank of India, Punjab National Bank, Canara Bank, etc.

Frequently Asked Questions

The best Education Loan Providers in India depends on different factors, including interest rates, compensation options, and customer service. However, a few popular alternatives consist of the HDFC Credila, Avanse Financial Services, Auxilo Finserve and Incred Finance.

For international student loans in India, HDFC Credila, Avanse Financial Services, Auxilo Finserve and Incred Finance are recognized for giving loan options tailored to the needs of students studying abroad.

When it comes to the cheapest Education Loan Providers in India, banks like the State Bank of India (SBI), Punjab National Bank (PNB), and Canara Bank provide competitive interest rates and favourable terms. But they only provide Secured Education Loan.

In terms of approval speed, Avanse Financial Services, Auxilo Finserve and Incred Finance are frequently acknowledged for their short loan processing and disbursal, ensuring a quicker education loan experience.