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Education Loan

Want to study abroad but worried about loan process?

  •  Our experts will help you to get your education loan and study abroad
  •  Connect with Finaccle and get your loan processed quickly


1. Share the necessary documents for application

2. We shall apply for loan on your behalf.

3. Your loan will be sanctioned in the prescribed time.


Education is of utmost importance nowadays and with rising inflation, the cost of education is also increasing. So, to support such, education loans are provided at competitive rates and repayment starting after completion of whole education.

Most of the Indian banks offer such loans to the deserving candidates at a low interest rate with flexible terms and conditions. Moreover, the documentation process is kept minimal to enable the students get the loan amount within a quick span without much complexity.


Types of education loan

1. Based on Location

  • Domestic Education Loan - Students who would like to pursue education in India can apply for this loan type. 
  • Overseas Education Loan - Students who would like to pursue education outside India can apply for this loan type. The loan covers the airfare, accommodation, and tuition fee.

2. Based on Course

  • Undergraduate Loans - An undergraduate degree will usually be a 3 to the 4-year long course under various specialisations. Having an undergraduate degree helps individuals to land a decent job and start earning.
  • Postgraduate Loans - Many undergraduates would like to continue their education with a postgraduate course, usually a 2-year long course in India. An advanced degree is desired to get more profound knowledge in the area of interest.

3. Career Development Loans
Many professionals who work in corporate jobs prefer to pause their career and take up professional courses to improve their employment prospects. Such individuals would strive hard to get into reputed business and technical schools to polish their skills.

4. Based on Collateral

  • Loan Against Property, Deposits, and Securities - You can pledge immovable assets, such as agricultural land, residential land, flat, house, and others, fixed deposit certificates, recurring deposits, gold deposits, bonds, debentures, and equity shares to get the necessary financing to pursue education.
  • Third-Party Guarantee - A guarantee letter from an employee of the bank or a home bank can help the student get an education loan.

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  •  Admission Status - Confirmed
  •  Security - Tangible collateral or guarantor
  •  Age - Minimum 18 years and Maximum - 35 years\
  •  Qualification - Pursuing graduate/post graduate degree or a PG Diploma
  •  Nationality - Indian
  •  Academic record - Good
  •  Income Source - Parents/Guardian
  •  Income - Stable means regular income
  •  University Applied to - In India/Abroad


Age proof
Copy of Aadhaar Card /Voter ID/Passport/Driving License

Identity proof
Copy of Voter ID/Aadhaar Card/Driving License/Passport

Residence proof
Rental agreement/Bank statement of 6 months of the student or co-borrower/guarantor/Copy of Ration card/Gas Book/Electricity Bill/Tel Bill


Income proof

  • Most recent salary slips or Form 16 of the parent/ guardian/co-borrower
  • 6 months bank statement of the borrower or updated passbook of bank
  • Updated ITR (Income Tax Return with income computation) of 2 years or IT assessment order of last 2 years of parent/co-borrower/guardian
  • Documents stating the assets and liabilities of the parent/co-borrower/guardian

Tax benefits

When you start repaying the education loan, the interest portion you pay towards the loan every can be claimed as income tax deduction under Section 80E. However, the deduction cannot be claimed for principal portion.

There is no limit on the amount you can claim for interest repayment on an education loan. As proof of this, you need to obtain a certificate from the bank. The facility is available only for eight years from the year you start repaying the loan or until the interest is fully repaid, whichever comes first. 

Repayment system

Some banks provide a 6-month grace period after completing the course to land a suitable job and start the repayment process. This grace period may vary with the lender. Once you land a job within this period, you may start the repayment process in the form of EMIs.

Why finaccle

  •  You can connect with us through mail, what's app, call or personal visit.
  •  We shall provide you the result that will move you.
  •  Finaccle provides one-stop integrated Financial-Accounting-Legal solutions to its clients.
  •  You get all Financial, taxation, Accounting, and legal solution under one roof.
  •  We provide End-to-End Support for your application procedure.
  •  We ensure seamless paperwork.
  •  Quality is what we pursue.
  •  We are always Accessible, Approachable and Accountable.


Yes, you can change the education loan from a fixed rate to a floating rate.

Yes, you can apply for an education loan in case your application is rejected the first time.

Yes, lenders levy a penalty in the case of late payments. Depending on the lender, the charges may vary.


What they say about us

Abhishek Taliya

Quick response to any query. Excellent services and Extremely polite and professional staff.
Abhishek Taliya, 3Tee Elastic Private Limited

Shreyansh Kothari

Best in business in their respective fields
Shreyansh Kothari, K Lal

Abhishek Gotawala

Great service by Team of Finaccle. Their execution method is amazing. Would love to continue with them in future!
Abhishek Gotawala, Harikanta Overseas Private limited

Mr. Sharma

It's good to work with Finaccle's Advisors. Perfect and Reliable.
Mr. Sharma, Ganesh Weaving

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