Education Loan

Education Loan


Educational Purpose - For Higher Education in India or aboard



Student + Parents / guardian as co-applicants


Loan Limit

-Max Rs. 40.00 Lacs

-Studies in India - Rs. 10.00 Lacs

-Studies in Abroad - Rs. 20.00 Lacs


10% for both studies in India and Abroad

Repayment Schedule

Maximum 84 Months including - moratorium period.


Moratorium Period

Duration of course + 6 months


3 Months after getting a job whichever is earlier



-Minimum one guarantors of age not more than 50 years.

-All the deductions including prosed EMI should not exceed 65% of Gross total income.


-Up to Rs. 2.00 Lacs - Clean


-Above Rs. 2.00 Lacs - Tangible security or immovable property-value to cover 100% of loan amount + single premium Insurance policy on the life of student of sum assured not less than loan amount for all students whether going abroad or not.


-(Single premium amount of the insurance policy single premium amount of the insurance policy can be considered as part of cost of education.)


-If Interest funded during the moratorium period then additional 1% to be charged.

-Subsidy as per the IBA guidelines available to students for studies in India.


Apply Online

-Students may also apply online on Vidya Lakshmi Portal developed by NSDL e-Governance Infrastructure Ltd.
To apply online on Vidya Lakshmi Portal click here