Education Loan
for Study Abroad

Any Indian national who has secured admission to a recognized educational institution in India or abroad is eligible. The applicant must be between 18–35 years of age. A co-applicant (parent or guardian) is mandatory. Students pursuing undergraduate, postgraduate, or professional courses at accredited universities qualify.

You can initiate a pre-approval application with your entrance exam scores and shortlisted colleges. Final disbursement, however, requires a confirmed admission letter from an accredited institution. Pre-approval helps you plan finances in advance and speeds up the process once you receive your offer.

For studies within India, the maximum loan amount is ₹75 Lakhs. For studies abroad, it goes up to ₹1.5 Crore, subject to the course, institution ranking, and applicant profile. Loans above ₹7.5 Lakhs require collateral security such as immovable property or fixed deposits.

The loan covers tuition fees, hostel/accommodation charges, examination and library fees, purchase of books, equipment, and laptops, travel expenses for abroad studies, study tours, project work, and thesis costs, and caution deposits or building funds payable to the institution.

Interest rates start at 9.5% per annum (floating) linked to the repo rate. Female students and students from premier institutions (IITs, IIMs, AIIMS) receive an additional 0.5% concession. A simple interest moratorium applies during the course duration plus 6 months, so your EMI burden begins only after you graduate.

Repayment starts after the moratorium period — which is your course duration plus 6 months (or 1 year after getting a job, whichever is earlier). The maximum repayment tenure is 15 years after the moratorium ends. You are not required to pay any EMI while studying.

Yes. Under Section 80E of the Income Tax Act, the entire interest paid on an education loan is deductible from taxable income for up to 8 consecutive years from the year repayment begins. This benefit applies to the borrower or the co-applicant who services the loan.

You will need: KYC documents (Aadhaar, PAN) of student and co-applicant, proof of admission (offer/acceptance letter), mark sheets of last qualifying examination, fee structure from the institution, income proof of co-applicant (ITR for 2 years / salary slips), and bank statements for the last 6 months. For collateral loans, property documents are additionally required.

Once all documents are submitted, in-principle approval is granted within 3–5 working days. Final sanction and disbursement to the institution typically takes 7–10 working days. Our dedicated EduQuest counsellors assist you at every step to avoid delays.

No. Loans up to ₹7.5 Lakhs are unsecured — no collateral is required. For loans above ₹7.5 Lakhs, acceptable collateral includes immovable property (residential or commercial), fixed deposits, government securities, or life insurance policies with sufficient surrender value.