A good education is what paves the path to success, and we believe that everyone has the right to an education that will help them grow and prosper. That’s why our Education Loans are designed to finance meritorious students who choose to pursue a higher education, both in India and abroad. With quick approval rates, minimal documentation and high loan amounts based on income and repayment capacity, you will never be far away from making your dreams come true.

Age Eligibility
  • There is no specific restriction regarding the age of a student in order to be eligible for an education loan.
  • Age of joint applicant / co-borrower / guarantor should be minimum 21 years at the time of loan origination and maximum age at the time of loan maturity can be 70 years.

If the student was a minor while the joint applicant / co-borrower / guarantor executed the document for the loan, the bank will obtain a letter of ratification from him/ her upon attaining majority.

Student Eligibility
  • The student should be an Indian National
  • The student shall have secured the admission in India or abroad through an entrance test or through merit based selection process
Eligible Courses
  • Post-Graduation Courses: Masters and Ph.D. from accredited institutions.
  • Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management and Computer Sciences.
  • Other professional courses such as CA, ICWA, CS, and CFA.
  • Masters and Diploma Management Programs.
  • Other courses leading to degree/diploma conducted by colleges/universities approved by UGC / Govt. / AICTE / AIBMS / ICMR, etc.
  • Regular Degree/Diploma course like aeronautical, pilot training, shipping, nursing or any other discipline approved by Directory General of Civil Aviation / Shipping / Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
  • Any other course as shall be declared from time-to-time.
Studies abroad
  • Graduation: Reputed universities.
  • Post-graduation: MCA, MBA, MS and other courses as shall be declared from time-to-time.
  • Other courses such as CIMA – London, CPA in USA, CFA, CISA, and other approved courses as shall be declared.
    Degree/Diploma course like aeronautical, pilot training, shipping, etc. provided these are recognised by competent regulatory bodies abroad for the purpose of employment in India/abroad.
Loan Education Loan
Interest Rate 11.5% to 24%
Loan Processing Charges Upto 2% of the loan amount+ GST and other applicable statutory levies
Documentation Charges
Stamping Charges Applicable as per the respective State’s Stamp Act
Credit Administration Charges
Credit Appraisal Charges Upto 5% of the Loan amount, not exceeding Rs. 7500(inclusive of GST)
Commitment Charges
Overdue Interest 3% of Overdue Amount, compounded monthly on the amount due but unpaid from the date of the amount falling due till the date of actual payment
Collection Charges 30%(inclusive of GST and other applicable statutory levies)of cheque/instrument dishonour charges+ overdue interest
Dishonour Charges Per Instance Rs. 750.00 per instance(inclusive of GST and other applicable statutory levies)
Swap Charges( Replacement of PDCs) Up to Rs. 500 per Swap per Instance+ GST and other applicable statutory levies
Prepayment Interest / Forclosure Charges Lock in period for 12 months. After 12 months, 5% foreclosure charges + GST on principal outstanding
Duplicate Issue of NOC Rs. 500 + GST and other applicable statutory levies per instance
Solvency Certificate
No Due Certificate Rs. 500 + GST and other applicable statutory levies per instance
Charges for furnishing a copy of the credit information report (CIBIL) to the applicant. Rs. 50 + GST and other applicable statutory levies per instance
Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule)
APAC Reschedulement
Part Foreclosure Charge
Payment Processing Charge
Valuation Charges for Used/RF Vehicles
Repossession Charges
Credit Adminstration Charges
Duplicate Foreclosure Statement Charges
NOC for National Permit
NOC for State Permit
NOC for Change in Body Type
Rebooking of Loans (due to change in borrowing structure, change of property / Asset / Collateral etc.)
Change in Installment Due Date
Change in Property / Asset / Collateral
Copy of Any Property/Loan Document
Asset Verification Charges – Immovable Assets
Legal / Incidental Charges*
NOC to Convert From Private to Commercial Registration
NOC to Convert From Commercial to Private Registration
Re-issuance of Pay Order
Non Compliance with Sanction Terms and Conditions
End-use Certificate Delays
Net Worth Statements Delays
*Taxes as applicable
“Blank / -” denotes that these charges are not applicable to the concerned business division
Document Applicant Co-applicant/ co-borrower Guarantor
Application Form Yes Yes Yes
2 photographs Yes Yes Yes
Proof of Identity Yes Yes Yes
Proof of Residence Yes Yes Yes
Signature verification from bank Yes Yes Yes
Income Details No Latest payslip or Form 16 or 2 years ITR Latest payslip or Form 16 or 2 years ITR
Proof of Ownership No Yes Yes
Proof of Relationship Yes Yes Yes
Confirmed admission letter Yes No No
Letter from college Details of course and fee structure to be paid No No
Academic Pass out Mark sheet/Certificate Yes No No
Sr No. Institute Name Location Country
1 Acharya Institute of Sciences Bangalore India
2 Chaitanya Bharathi Institute of Technology (CBIT) Hyderabad India
3 Hindustan University Chennai India
4 Heritage Institute of Technology Kolkata India
5 Don Bosco Institute of Technology Mumbai India
6 Krishna Institute of Engineering and Technology (KIET) Ghaziabad – Delhi/ NCR India
7 Chandigarh Engineering College (CEC) Mohali India
8 Manipal Institute of Technology (MIT) Manipal India
9 IIT Delhi – Indian Institute of Technology Delhi/NCR India
10 IIT Madras – Indian Institute of Technology Chennai India
11 BITS Pilani – Birla Institute of Technology & Science Pilani India
12 IIT Guwahati – Indian Institute of Technology Guwahati India
13 Jadavpur University-Faculty of Engineering, Kolkata (JUFOE-K) Kolkata India
14 Delhi Technical University (Formerly Delhi College of Engineering) Delhi/NCR India
15 National Institute of Technology, Tiruchirapalli (NIT-T) Tiruchirappalli India
16 Bengal Engineering and Science University Kolkata India
17 College of Engineering Pune (COEP) Pune India
18 Government Engineering college, Thiruvananthapuram Thiruvananthapuram India
19 Sri Jayachamarajendra College of Engineering Mysore India
20 National Institute of Technology Jalandhar Jalandhar India
21 Baba Farid Institute of Technology (BFIT) Dehradun India
22 Baldev Ram Mirdha Institute of Technology (BMIT) Jaipur India
23 Jaipur Engineering College (JEC) Jaipur India
24 Manoharbhai Patel Institute of Engineering & Technology (MIET) Kudwa India
25 College of Engineering- Trivandrum Trivandrum India
26 Birla Institute of Technology, Mesra Ranchi India
27 Adhiyamaan College of Engineering (ACE) Hosur India
28 Atria Institute of Technology Bangalore India
29 IMS Engineering College Ghaziabad – Delhi/ NCR India
30 Geeta Institute of Management & Technology (GIMT) Kurukshetra India
31 Alwar Institute Of Engineering & Technology (AIET) Alwar India
32 IIT Bhubaneswar – Indian Institute of Technology Bhubaneswar India
33 IIT Ropar – Indian Institute of Technology Ropar India
34 Army Institute of Technology (AIT) Pune India
35 Al Habeeb College of Engineering and Technology (AHCET) Hyderabad India
36 Bharati Vidyapeeth Institute of Technology Navi Mumbai India
37 IIMT Engineering college Meerut India
38 B.P.Poddar Institute of Management and Technology (BPPIMT) Kolkata India
39 Xavier Institute of Engineering (XIE) Mumbai India
40 National Institute of Technology- Kurukshetra (NIT) Kurukshetra India
41 Giani Zail Singh College of Engineering & Technology Bathinda India
42 Karmaveer Bhaurao Patil College of Engineering and Polytechnic Satara India
43 Pune Institute of Computer Technology (PICT) Pune India
44 Keshav Memorial Institute of Technology (KMIT) Hyderabad India
45 Prasad V. Potluri Siddhartha Institute of Technology Vijayawada India
46 P. A. College of Engineering (PACE) Mangalore India
47 Ludhiana College of Engineering and Technology (LCET) Ludhiana India
48 Shiv Shankar Institute of Engineering & Technology (SSIET) Amritsar India
49 Andhra University College of Engineering (Autonomous) Visakhapatnam India
50 PES Modern college of Engineering Pune India
51 Kautilya Institute of Technology and Engineering and School of Management (KITE-SOM) Jaipur India
52 Basavakalyan Engineering college Bidar India
53 Guru Nanak Dev Engineering College, Bidar Bidar India
54 Basaveshwar Engineering College Bagalkot India
55 IIT Mandi – Indian Institute of Technology Mandi India
56 Al-Ameer College of Engineering and Information Technology Visakhapatnam India
57 Chaitanya Engineering College (CEC) Visakhapatnam India
58 Annai Vailankanni College of Engineering (AVCE) Kanyakumari India
59 CSI College of Engineering Ooty India
60 Kumaraguru College of Technology (KCT) Coimbatore India
61 Aryabhatta Institute of Engineering and Management (AIEMD) Durgapur India
62 Government Engineering College, Kozhikode Kozhikode India
63 Jagannath Gupta Institute of Engineering & Technology (JNIT) Jaipur India
64 Ajmer Institute of Technology Ajmer India
65 Jaipur Engineering College & Research Centre (JECRC) Jaipur India
66 Al-Falah School of Engineering & Technology (AFSET) Faridabad – Delhi/ NCR India
67 Pondicherry Engineering College Pondicherry India
68 Meerut International Institute of Technology Meerut India
69 Bharati Vidyapeeth University – College of Engineering Pune India
70 Anand Engineering College (AEC) Agra India
71 Annamacharya Institute of Technology and Sciences Kadapa India
72 Arunai Engineering College Chennai India
73 Assam Engineering College Guwahati India
74 Balsore School of Engineering Balasore India
75 Bhutta College of Engineering & Technology (BCET) Ludhiana India
76 Canara Engineering College Bangalore India
77 Shivajirao S. Jondhale College of Engineering Thane India
78 Government Engineering College (GEC), Rajkot Rajkot India
79 Jabalpur Engineering College Jabalpur India
80 Babaria Institute of Technology (BIT) Vadodara India
81 Jamnalal Bajaj Institute of Management Studies, Mumbai (JBIMS) Mumbai India
82 S. P. Jain Institute of Management Studies, Mumbai (SPJIMR) Mumbai India
83 Management Development Institute, Gurgaon (MDI) Gurgaon India
84 Narsee Monjee Institute of Management Studies, Mumbai (NMIMS) Mumbai India
85 Xavier Institute of Management, Bhubaneswar (XIM B) Bhubaneswar India
86 Symbiosis Institute of Business Management, Pune (SIBM) Pune India
87 Institute of Management & Technology, Ghaziabad (IMT) Ghaziabad India
88 Bharathidasan Institute of Management, Trichy (BIM) Trichy India
89 XLRI – Xavier Labour Research Institute, Jamshedpur Jamshedpur India

Studies in USA

Education loans for studying in the United States. Get financing for course fees, living expenses, proof of funds, etc. with an education loan from all banks.

Studies in India

We offer Education loans for studying in India. Numerous institutes, a range of courses & varying education-related expenses, our loans cover it all.

Studies Elsewhere

ABL educational loans for studying in other countries. Cover travel expenses, & other education expenses with our overseas education loans.

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