EduFund | Smart Education Loans for Indian Students
🎓 DREAM BIG, STUDY ABROAD OR INDIA
Education loans with zero hassle & low interest
Fund your higher education — whether in India or abroad. Compare interest rates, moratorium periods, and tax benefits from top banks & NBFCs.
🏦 Best Education Loan Providers 2025
Compare interest rates, processing fees, and loan amounts for studies in India & abroad
⭐ 4.9 customer rated
| Lender |
Loan Name |
Max Loan (₹) |
Interest Rate (p.a.) |
Processing Fee |
Moratorium |
Apply |
| 🏛️ SBI |
SBI Scholar Loan |
₹1.5 Cr |
8.65% - 10.15% |
Nil (up to ₹20L) |
Course period + 1 yr |
|
| 🏦 HDFC Bank |
HDFC EduLoan |
₹75 Lakh |
9.25% - 11.50% |
1% (max ₹10k) |
Course + 6 months |
|
| 🌟 Axis Bank |
Axis Vidya Loan |
₹1 Cr |
9.90% - 12.25% |
Up to ₹15k |
Course period + 1 year |
|
| 💼 Avanse |
Avanse Education Loan |
₹75 Lakh |
10.50% - 13% |
1% + GST |
Course + 6 months |
|
*Interest rates vary based on co-applicant income, college ranking & credit score. T&C apply.
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Courses Covered
Graduation, Post-graduation, Professional degrees (MBA, Engineering, Medical), Diplomas and vocational courses in India & Abroad.
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Co-applicant Requirement
Parents or guardian as co-borrower. For loans up to ₹7.5 lakh, no co-applicant needed for certain meritorious students.
💰
Tax Benefits (Sec 80E)
100% deduction on interest paid for up to 8 years. No upper limit — huge savings for higher education loans.
📄 Documents Required
- ✔️ Admission letter from institute
- ✔️ KYC of student & co-applicant (PAN, Aadhaar)
- ✔️ Academic records (10th,12th, graduation)
- ✔️ Income proof of co-applicant (ITR, salary slips)
- ✔️ Fee structure & collateral documents (if required)
✅ Eligibility Criteria
- ✔️ Indian citizen with confirmed admission
- ✔️ Age: 18-35 years (typically)
- ✔️ Strong academic record (min 60% for top colleges)
- ✔️ Co-applicant must have regular income
🔁 Repayment & Moratorium
- ✔️ Moratorium = Course period + 6/12 months
- ✔️ Simple interest accrues during moratorium
- ✔️ EMI starts after grace period
- ✔️ Flexible tenure up to 15 years
❓ Education Loan FAQs
1. Can I get a loan for abroad studies without collateral?
Yes, many lenders offer collateral-free loans up to ₹40-50 lakhs for premier institutes (Ivy League, IITs, etc.) under specific schemes.
2. Is there any tax benefit on education loan interest?
Absolutely, Section 80E allows deduction on the entire interest paid, with no upper cap, for maximum 8 years.
3. What is the maximum loan amount for Indian medical courses?
Up to ₹1.5 crore for top private medical colleges; public banks offer up to ₹75 lakh depending on collateral.
4. Does the loan cover living expenses and travel?
Yes, education loans typically cover tuition fees, hostel/living expenses, books, and travel (for abroad studies).
5. Can I prepay my education loan without penalty?
Most banks don’t charge prepayment penalty for floating rate education loans, but check terms with your lender.
