Quick approval, competitive rates, and flexible repayment options. Check your eligibility in minutes!
Interest Rate
10.48% p.a. onwards
Loan Amount
--
EMI Per Lakh
₹1104 - ₹1104
Processing Fees
Contact the bank
Pre Payment Charges
--
Interest Rate
11.75% p.a. to 13.00% p.a
Loan Amount
India: Rs. 10 Lakhs. Abroad: Rs. 20 Lakhs
EMI Per Lakh
₹1184 - ₹1265
Processing Fees
No processing charge for studies in India. 1% of the loan amount for studies in abroad.
Pre Payment Charges
--
Interest Rate
The effective ROI for education loans ranges from 9% to 15%, with a minimum spread of 2.75% over the Repo Rate.
Loan Amount
No limit to maximum loan amount
EMI Per Lakh
₹1014 - ₹1400
Processing Fees
Up to 1.5% of the Loan Amount or as per any special scheme run by the bank
Pre Payment Charges
Nil
Interest Rate
13.70% p.a. to 15.20% p.a
Loan Amount
Up to Rs. 75 Lakh (based on scheme opted)
EMI Per Lakh
₹1312 - ₹1413
Processing Fees
Contact the bank
Pre Payment Charges
Nil
Interest Rate
8.55% p.a. to 11.15% p.a
Loan Amount
Depends on scheme opted
EMI Per Lakh
₹988 - ₹1146
Processing Fees
Nil for studies in India. 1% of the loan amount (Maximum: Rs.5,000) for studies abroad.
Pre Payment Charges
2% on the amount of prepayment to be charged if prepaid/foreclosed before 6 months from the date of commencement of EMI.
Interest Rate
Up to 16% p.a
Loan Amount
Up to Rs. 10 lakh for education within India and up to Rs. 20 lakh for education abroad
EMI Per Lakh
₹1469 - ₹1469
Processing Fees
Nil
Pre Payment Charges
1-year lock-in period after which, 5% foreclosure charges plus GST on the outstanding principal will be charged
Interest Rate
Starting from 9.50% p.a
Loan Amount
Up to Rs.30 lakh
EMI Per Lakh
₹1044 - ₹1044
Processing Fees
Up to 1% for loan amount above Rs. 7.5 lakh
Pre Payment Charges
During the moratorium period, there will be a fee of up to 4% of the remaining amount. There is no pre-payment fee if prepayment is made after the moratorium expires.
Interest Rate
10.25% p.a. onwards
Loan Amount
Unsecured Loan Amount – Up to Rs 1 Crore (for premium institutions). For courses in India: Up to Rs 1 Crore. For courses abroad: Up to Rs 3 Crore.
EMI Per Lakh
₹1090 - ₹1090
Processing Fees
Up to 2% of the loan amount (non refundable) + GST
Pre Payment Charges
₹200 for a printout at the Branch for Prepayment or Foreclosure Statement
Interest Rate
12.05% p.a. to 14.55% p.a
Loan Amount
Up to Rs.10 lakh for studies in India. Up to Rs.20 lakh for studies abroad.
EMI Per Lakh
₹1203 - ₹1369
Processing Fees
For Loans Above Rs. 7.50 lakh: Rs. 5,000 + GST. For 783 Product: Rs. 10,000 + GST.
Pre Payment Charges
--
Interest Rate
12.55% p.a. onwards
Loan Amount
Up to Rs. 1 Cr (based on scheme opted)
EMI Per Lakh
₹1236 - ₹1236
Processing Fees
Contact the bank
Pre Payment Charges
--
Interest Rate
From 8.05% p.a. (With or without co-borrower)
Loan Amount
--
EMI Per Lakh
₹959 - ₹1184
Processing Fees
Rs. 10,000 + applicable taxes
Pre Payment Charges
There are NO penalty charges for prepayment. You can prepay your education loan anytime.
Interest Rate
Up to Rs.7.5 lakhs: BRLLR + 2.00 % p.a. Above Rs.7.5 lakhs: BRLLR + 1.75 % p.a.
Loan Amount
Depends on scheme opted
EMI Per Lakh
₹947 - ₹1056
Processing Fees
Zero processing fees on collateral-free education loan in India. 1% Processing Charge (Max.10,000/-) recovered upfront for loan above Rs. 7.5 lakhs for abroad studies.
Pre Payment Charges
Nil
Interest Rate
9.25% p.a.
Loan Amount
Ranges from Rs. 5,000 to Rs. 1 crore (based on scheme opted)
EMI Per Lakh
₹1029 - ₹1029
Processing Fees
Depends on scheme opted (mostly nil)
Pre Payment Charges
Nil
Interest Rate
8.10% p.a. to 11.30% p.a
Loan Amount
Varies by scheme opted
EMI Per Lakh
₹961 - ₹1156
Processing Fees
Nil
Pre Payment Charges
Nil
Interest Rate
4% - 12.50% p.a.
Loan Amount
Depends on scheme opted
EMI Per Lakh
₹740 - ₹1233
Processing Fees
For Studies in India – NIL For Studies abroad – 1% (Minimum ₹10,000) – Refundable after 1st Disbursement For PNB Pravasi Shiksha Loan – 1% of the loan amount (Minimum ₹10,000) – Non-refundable For PNB Kaushal – NIL
Pre Payment Charges
Nil
Interest Rate
9.75% p.a. to 13.00% p.a
Loan Amount
In India Rs. 15 lakh and abroad Rs. 30 lakh
EMI Per Lakh
₹1059 - ₹1265
Processing Fees
Contact the bank
Pre Payment Charges
Nil
Interest Rate
11.05% p.a. to 11.85% p.a
Loan Amount
Up to Rs. 40 Lakh (based on scheme opted)
EMI Per Lakh
₹1140 - ₹1191
Processing Fees
No processing fee for studies in India
Pre Payment Charges
--
Interest Rate
11.30% p.a. to 11.70% p.a
Loan Amount
Up to Rs. 75 Lakh (based on scheme opted)
EMI Per Lakh
₹1156 - ₹1181
Processing Fees
0.50% of the loan amount (maximum: Rs. 10,000) + GST
Pre Payment Charges
--
Education Loan is a comprehensive financial solution designed to support your academic aspirations. Here are the key features and benefits:
Check if you meet the eligibility criteria for our education loan
| Particulars | Eligibility |
|---|---|
| Nationality | Indian |
| Age | Minimum - 16 years and Maximum - 35 years |
| Academic record | Proven - good |
| Qualification | Completed 10+2 (12th Standard)/Diploma |
| For Pursuing | Graduation/Postgraduate Degree or a PG Diploma in Professional Education |
| University Applied to | Listed, Recognized and Accredited Institutes in India and Overseas |
| Loan can be sanctioned based on |
|
| Loan Amount |
|
| Co-borrower | Father, Mother, Brother, Sister, Spouse (Husband/Wife), Grandparents, Parents-in-law, Maternal/Paternal Uncle |
| Security | Property i.e. House or Flat, Fixed Deposit, Existing ICICI Bank Home Loan for cross-collateral |
Note: The eligibility criteria mentioned above are indicative. Final approval is subject to the bank's discretion.
Calculate your monthly EMI and view detailed amortization schedule
Loan Amount
₹50,000
Total Interest
₹0
Processing Fee
₹0
Monthly EMI
₹0
| Year | Principal Paid | Interest Paid | Balance |
|---|
Note: This calculator provides an estimate. Actual EMI may vary based on the bank's terms and conditions.
Compare interest rates and processing fees from leading banks
| Name of Bank | Interest Rate (p.a) | Processing Fees |
|---|---|---|
| State Bank of India | 8.05% p.a to 11.75% |
|
| Central Bank of India | 8.05% p.a to 10.50% |
|
| Punjab National Bank | 9.40% p.a onwards |
|
| Canara Bank | 9.25% p.a onwards |
|
| IDFC FIRST Bank | 9.50% p.a onwards | Up to 1.5% of the loan amount |
| ICICI Bank | 8.55% p.a onwards |
|
| Bank of Baroda | 9.70% p.a onwards |
|
| Bank of India | 8.40% p.a onwards | No processing fee for studies in India |
| ICICI Bank | 11.50% p.a onwards | Up to 2% + GST |
| Bank of Maharashtra | 8.10% p.a onwards | Contact the bank |
| Axis Bank | 15.70% p.a to 15.20% p.a | 2.00% of the loan plus GST |
| HDFC Bank | 9.50% p.a | Maximum up to 1% of the loan amount |
| Kerala Mercantile Bank | 10.99% p.a onwards | Nil |
| Federal Bank | 13.20% onwards | Contact the bank |
| Tamilnad Mercantile Bank | 9.75% p.a onwards | 1% of the sanctioned loan amount above Rs.7.50 lakh for studies abroad |
Note: Interest rates and processing fees are subject to change. Please contact the respective banks for the latest information.
Here's what the loan amount will cover
Note: The coverage of expenses may vary based on the bank and loan scheme selected. Please check with your chosen bank for specific details.
Check the list of documents required for your education loan application
Find answers to commonly asked questions about education loans
No, an interest rate will be levied by banks on education loans.
No, usually education loans for courses in India do not offer the same amount as for comparable level courses abroad. Education loans for overseas education tend to be higher as fees tend to be higher and there are additional expenses like living costs based on the international institution.
Almost all education loans from banks and other lenders require collateral, which can be fixed deposits, property, shares, bonds, etc. However, you can get a collateral-free education loan without offering any collateral. This can be achieved through the Credit Guarantee Fund Scheme for Education Loans (CGFSEL). Under this scheme, loans up to Rs. 7.5 lakhs can be obtained without collateral under the disbursement of the Model Education Loan Scheme of the Indian Banks' Association (IBA). To avail of this, you have to apply for an education loan under this scheme through a public sector bank. You don't need to give any security or collateral for education loans of up to Rs 7.5 lakh, but loans above this will require collateral.
The moratorium period on education loans differs from lender to lender. However, it usually until the borrower gets employed or for up to 1 year after the course completion, whichever is earlier. If you choose to take a sabbatical and want to extend the moratorium, it would depend on the bank whether to grant or not, so it is best to have a discussion about this with the lender.