Check Eligibility

Who Can Apply for an Education Loan?

Education loans in India are available to Indian nationals who have secured admission to recognised institutions. Eligibility varies by lender but typically covers the following criteria.

Basic Requirements

• Indian citizen with a valid admission letter
• Age between 16 and 35 years at the time of application
• Course recognised by UGC, AICTE, or equivalent body
• Co-applicant (parent or guardian) with a stable income source

Academic Criteria

Most banks require a minimum of 50% in your last qualifying examination. Some NBFCs may be flexible on this requirement depending on the institution and course.

Collateral Requirements

Loans up to ₹7.5 lakh are generally available without collateral. For higher amounts, lenders may require property or fixed deposits as security.