Education Loan
Best Student Loan In Odisha
- 🚫 No Hidden Charges
- 🕒 Fast Approval Process
- 🤝 1-on-1 Expert Guidance
- 📝 Full Documentation Support
- 💰 Up to 100% Course Fee Covered
- 📲 Apply from Mobile or WhatsApp
- 🧑🏫 Low Interest Rates & Flexible EMI
- ✅ Loan Help from Top Banks & NBFCs
- 📈 Loan Available Even Without Collateral
- 🎓 Loans for +2, UG, PG & Professional Courses
Education loans are a type of financial aid designed to help students and their families cover the costs of higher education, including tuition fees, books, supplies, and living expenses. These loans are typically offered by banks, credit unions, and government agencies, and can be used to finance undergraduate, graduate, and professional degree programs.
📘 Key Features of an Education Loan:
🔹 Feature | 📌 Description |
Purpose | To fund higher studies: UG, PG, diploma, professional, or technical courses |
Loan Amount | ₹50,000 to ₹1.5 crore (depending on course, country, collateral) |
Interest Rate | 7% – 13% (varies by bank, loan type, and applicant profile) |
Repayment Period | 5 to 15 years (after moratorium) |
Moratorium Period | Course duration + 6–12 months grace before EMIs start |
Collateral | May be required for loans above ₹7.5 lakh |
Subsidy Options | Available for EWS/SC/ST under schemes like NSP, CSIS |
Here’s what the loan amount will cover:
✅ Expense Category | 📝 Description |
1. Tuition Fees | Full/partial course tuition fees payable to the institution (college/university/school). |
2. Examination/Library/Lab Fees | All institutional fees like exam fees, lab charges, library dues. |
3. Caution Deposit | One-time refundable security deposits paid to the institution. |
4. Accommodation Charges | Hostel, PG, or off-campus rent (if supported by institution). |
5. Travel Expenses | Airfare (for international education) — to and fro for the student. |
6. Cost of Books and Equipment | Textbooks, reference materials, stationery, etc. |
7. Uniform and Dress Code | Charges for college dress, lab coats, etc. if required. |
8. Laptop/Computer Purchase | One-time purchase cost if essential for the course. |
9. Insurance Premium | Life/loan insurance premium (some banks make this mandatory). |
10. Project Work/Thesis Costs | Charges for research, project printing, binding, etc. |
11. Study Tours and Exchange | Fees for educational trips or exchange programs (if part of curriculum). |
12. Entrance Test Coaching (limited) | Limited banks allow coaching/preparatory course costs. |
13. Food & Daily Living Expenses | Reasonable monthly living costs (for boarding students). |
14. Visa & Immigration Charges | For students going abroad (Embassy, SEVIS, etc.). |
15. Admission Fees/Capitation Fee | Accepted if officially charged by the institution. |
🏷️ Type | 📘 Description |
1. Domestic Education Loan | For studies within India — UG/PG/professional/diploma courses in UGC/AICTE-approved colleges. |
2. Study Abroad Education Loan | For international education — UG/PG/PhD in foreign institutions, covering tuition, travel, and visa expenses. |
3. Undergraduate Education Loan | For bachelor’s degree programs (e.g., B.Com, B.Tech, MBBS) in recognized colleges. |
4. Postgraduate Education Loan | For master’s/PG courses (e.g., MBA, MS, M.Tech) – higher amounts and longer tenure. |
5. Skill Development Loan | For short-term vocational/technical courses approved by NSDC or other boards (₹5k–₹1.5 lakh). |
6. Loan under Government Schemes | Includes NSP, Vidya Lakshmi, and CSIS (Central Interest Subsidy Scheme) for economically weaker sections. |
7. Top-up Loan | Additional loan on top of an existing education loan if course cost increases or extension is needed. |
8. Bridge Loan | Short-term loan given until a major education loan or scholarship is sanctioned. |
9. Education Loan for Executive/Part-time Courses | For working professionals pursuing distance or part-time PG courses (e.g., Executive MBA). |
10. Pre-admission or Pre-visa Loan | Sanctioned before confirmed admission/visa — often required for US, Canada, or EU student visa interviews. |
11. Collateral-Free Loan (Unsecured) | Offered for select colleges and amounts (usually up to ₹7.5 lakh) without property or assets. |
12. Collateral Loan (Secured) | For higher amounts (₹10–50+ lakh) — requires property, FD, or other asset as collateral. |
👨💼 By Provider | 📝 Description |
Bank Education Loans | Public/private banks with interest subsidy eligibility (SBI, PNB, BOB, etc.) |
NBFC Education Loans | Non-banking lenders like HDFC Credila, Avanse, InCred — flexible but higher interest |
International Lenders | Like Prodigy Finance — loans without collateral for studies abroad |
Institutional Loans | Directly from colleges/universities (rare in India but common abroad) |
🎯 Your Goal | 👍 Best Loan Type |
Study in India (UG/PG) | Domestic Education Loan |
Study in USA/UK/Canada | Study Abroad Loan (with visa support) |
Need short course training | Skill Development Loan |
Low family income | Govt Subsidy Loan via NSP/CSIS |
High-value MBA/MS abroad | Collateral Loan or Prodigy Finance |
📌 Document Type | 📝 Description |
1. Identity Proof | Aadhar Card / PAN Card / Passport / Voter ID |
2. Address Proof | Aadhar / Passport / Utility Bill / Ration Card |
3. Academic Records | 10th, 12th mark sheets, and latest degree certificates |
4. Entrance Exam Results | JEE / NEET / CAT / GRE / TOEFL / IELTS (if applicable) |
5. Admission Letter | Official admission offer letter from college/university |
6. Fee Structure | Detailed course fee structure from the institution |
7. Passport & Visa (Abroad Only) | Valid passport + student visa for overseas education |
8. 2–4 Passport-Size Photos | Recent color photos of the student |
📌 Document Type | 📝 Description |
1. ID & Address Proof | PAN + Aadhar / Passport / Utility Bill |
2. Income Proof (any one): | |
– Latest Salary Slips (3–6 months) | For salaried applicants |
– ITR or Form 16 (last 2 years) | Compulsory in most cases |
– Business Proof & IT Returns | For self-employed |
– Bank Statements (6 months) | Required for income verification |
3. Relationship Proof | Birth certificate / Affidavit / Ration card linking parent & student |
📌 Document Type | 📝 Description |
1. Property Ownership Proof | Title deed, sale deed, property tax receipts |
2. Encumbrance Certificate | Confirms no legal dispute on property |
3. Legal & Valuation Report | Done by bank-approved lawyer and valuer |
4. Building Plan & NOC (if required) | Especially for constructed properties |
🔹 Criteria | 📝 Details |
1. Nationality | Indian citizen (some allow OCI/PIO for international studies). |
2. Age | 16 to 35 years (some lenders have flexible age range). |
3. Academic Qualification | Passed 10+2 for UG, graduation for PG; consistent academic record preferred. |
4. Admission Status | Secured confirmed admission through entrance/merit in recognized institution (India or abroad). |
5. Eligible Courses | Degree/diploma in engineering, medical, law, management, hotel management, aviation, etc. from UGC/AICTE/approved institutions. |
6. Institution Type | Recognized by UGC/AICTE/AIU (India) or listed among top 500 institutions (for international). |
7. Co-Applicant | Mandatory for all loans: usually parent/guardian/spouse. Their income and credit score affect approval. |
8. Income of Co-Applicant | Should have a stable source of income (usually ₹15,000/month+ for Indian institutions). |
9. Collateral Requirement | Depends on loan amount: |
10. Creditworthiness | Good CIBIL score of co-applicant (650+ preferred); no loan defaults. |
11. Bank-Approved Institutions | Must be on the bank’s eligible institution list (especially for abroad). |
12. Visa Proof (for Abroad) | Valid student visa and passport needed. |
13. Academic Performance | Some banks need minimum 50–60% marks in last qualifying exam. |
🧾 Category | 🎯 Benefit |
SC/ST/OBC/EWS | May get interest subsidy under NSP schemes |
Female applicants | Some banks offer 0.5% interest rebate |
Students with good marks | Fast-track processing, lower interest |
Economically weaker | May get full interest subsidy during study (CSIS scheme) |
🔗 Easy Connection Flow
unlimited networking plans
Basic plan
₹149
30 Days
- Loan Eligibility Check
- Document checklist (standard)
- EMI Calculator
- Email + WhatsApp Chat
- 2 Banks appointment booking
- No Consultation 📞
- No Bank Offer Alerts
- Collateral guidance
- SOP/LOI templates
- Scholarship + Loan combo
- Direct follow-up with banks
- Visa/loan letter guidance
- Loan insurance support
- Refund if loan not sanctioned
- Multiple country support
Medium plan
₹399
90 Days
- Loan Eligibility Check
- Document checklist (standard)
- EMI Calculator
- Email + WhatsApp Chat
- Top 5 Bank appointment booking
- 1 Consultation (15 mins) 📞
- Monthly Bank Offer Alerts
- Collateral guidance
- SOP/LOI templates
- Scholarship + Loan combo
- Direct follow-up with banks
- Visa/loan letter guidance
- Loan insurance support
- Refund if loan not sanctioned
- Multiple country support
👑 Advanced Plan
₹699
120 Days
- Loan Eligibility Check
- Document checklist (standard)
- EMI Calculator
- WhatsApp + 📞Call + Email
- Multiple Bank appointment booking
- 3 Consultations (30 mins each) 📞
- Weekly Bank Offer Alerts
- Collateral guidance
- SOP/LOI templates(Custom)
- Scholarship + Loan combo
- Direct follow-up with banks
- Visa/loan letter guidance
- Loan insurance support
- Refund if loan not sanctioned (Conditions)
- Multiple country support
4.2 rating
⭐⭐⭐⭐
Wide Range of Loan Options: SBI offers multiple types of educational loans catering to different needs, including SBI Student Loan Scheme, SBI Global Ed-Vantage, SBI Scholar Loan, and Skill Loan Scheme. Each has specific features tailored for students pursuing studies in India or abroad.
Competitive Interest Rates: SBI provides interest rates that are often competitive compared to other banks. Special rates are available for premier institutions, and female students usually receive an additional discount.
No Processing Fees for Some Loans: Loans for premier institutions under the SBI Scholar Loan scheme often come with zero processing fees, making it easier for students to apply without upfront costs.
Flexible Repayment Options: SBI offers flexible repayment tenures, typically starting after the completion of the course. This can go up to 15 years depending on the loan scheme, which reduces the burden on students in the initial years of their careers.
Higher Loan Amounts for Overseas Studies: For students studying abroad, SBI’s Global Ed-Vantage scheme provides loans up to ₹1.5 crore, enabling students to pursue higher education in prestigious global universities without worrying about immediate finances.
Quick Processing for Premier Institutions: SBI’s tie-ups with many premier educational institutions in India ensure faster processing and sanctioning of loans, which makes it an ideal choice for students admitted to top-tier institutions.
Interest Subsidy Schemes: SBI participates in various government subsidy schemes like the Central Sector Interest Subsidy Scheme (CSIS), which benefits economically weaker students by providing interest subsidies during the moratorium period.
4.2 rating
⭐⭐⭐⭐
Affordable Interest Rates: PNB offers competitive interest rates, with concessions for female students and those from economically weaker sections.
Comprehensive Loan Schemes: Multiple loan options like PNB Saraswati, PNB Pratibha, and loans for vocational courses cater to a wide variety of educational needs, both in India and abroad.
No Processing Fees: No processing charges for loans up to ₹4 lakh, making it cost-effective for smaller loan amounts.
Flexible Repayment Terms: Repayment tenure up to 15 years with easy EMI options after the moratorium period.
High Loan Amount for Premier Institutions: Up to ₹1 crore for domestic studies and ₹1.5 crore for overseas studies under the PNB Pratibha scheme.
Government Subsidy Support: Eligibility for various interest subsidy schemes under the Government of India for economically weaker students.
Quick Disbursement for Elite Institutions: Fast-track processing for students in top-tier institutions.
4.2 rating
⭐⭐⭐⭐
Attractive Interest Rates: Competitive rates for both domestic and international studies, with customized plans for higher studies abroad.
Higher Loan Amounts: Loans up to ₹1 crore for overseas education, covering tuition, travel, and living expenses.
Minimal Documentation: Simplified application process with minimal paperwork, ensuring faster approval and disbursement.
Flexible Repayment Options: Repayment tenure up to 10 years, with options to start repayment after course completion.
Specialized Loan Schemes: Tailored loan schemes for students attending premium institutions globally.
No Collateral for Smaller Loans: Loans up to ₹7.5 lakh without collateral, making it accessible for a wide range of students.
Digital Application: Easy online application and tracking through the bank’s digital platform, ensuring a smooth experience.
4.2 rating
⭐⭐⭐⭐
Low Interest Rates: Competitive rates with concessions for female students and those from economically weaker backgrounds.
Wide Loan Coverage: Up to ₹1.5 crore for overseas studies and ₹80 lakh for domestic education, covering tuition, living expenses, and travel.
Multiple Loan Schemes: Options like Baroda Vidya (school education), Baroda Gyan (higher studies in India), and Baroda Scholar (overseas studies) cater to various needs.
No Processing Fees: No processing charges for loans up to ₹7.5 lakh.
Flexible Repayment Terms: Repayment tenure up to 15 years, with a moratorium period during the study.
Government Subsidy Schemes: Eligible for interest subsidies under government schemes for economically weaker students.
Collateral-Free Loans: Loans up to ₹4 lakh without collateral, making it accessible for many students.
4.2 rating
⭐⭐⭐⭐
Competitive Interest Rates: Attractive rates with discounts for female students and those from economically weaker sections.
High Loan Amounts: Up to ₹1.5 crore for overseas education and ₹50 lakh for domestic studies, covering tuition, living expenses, and other costs.
Diverse Loan Schemes: Various options such as BOI Star Education Loan for domestic and international studies, catering to different educational needs.
No Processing Fees: No processing charges for loans up to ₹7.5 lakh, making it a cost-effective option.
Flexible Repayment Terms: Up to 15 years repayment tenure with a moratorium period during the course of study.
Collateral-Free Loans: Loans up to ₹4 lakh without collateral, making it accessible for many students.
Government Schemes: Participation in government subsidy schemes to support economically weaker students.
4.2 rating
⭐⭐⭐⭐
Affordable Interest Rates: Competitive rates with special discounts for female students and those from weaker financial backgrounds.
High Loan Limits: Up to ₹1.5 crore for overseas education and ₹50 lakh for domestic studies, covering a wide range of expenses.
Comprehensive Loan Schemes: Options like Cent Vidya for various levels of education, both in India and abroad.
No Processing Fees: Processing fees waived for loans up to ₹4 lakh, reducing initial costs.
Flexible Repayment: Up to 15 years repayment tenure with a moratorium period during the course.
Collateral-Free Loans: Available up to ₹4 lakh without collateral, making it easier for many students to qualify.
Government Subsidy Support: Participation in government schemes for interest subsidies for economically weaker students.
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