Education Loan: Apply Personal Loan For Education Online

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What is an Education Loan?

An education loan is a student loan designed to support students in pursuing higher education in India or abroad. It covers tuition fees, accommodation expenses, exam and library fees, travel costs, and other academic expenses. These personal loans typically offer flexible repayment options, moratorium periods until course completion, and tax benefits on interest paid under Section 80E of the Income Tax Act. Students can apply with a co-borrower, such as a parent or guardian, ensuring financial security for lenders. Interest rates vary based on factors like the applicant’s academic record, institution ranking, and loan amount.

Aditya Birla Capital offers collateral-free personal loans that can be used to fund education. With Aditya Birla Capital’s Personal Loans for Education, you can get easy funding, attractive interest rates, digital onboarding, and a flexible tenure for loan repayment. Moreover, these are collateral-free loans, allowing you to obtain the desired funds without pledging collateral. You can apply online and get the loan sanctioned instantly for all your education-related expenses. Aditya Birla Capital offers a multipurpose Personal Loan for Education that not only helps you fund higher education but also allows you to meet ancillary expenses such as lifestyle costs, study tour costs, etc.

Personal Loan EMI Calculator

Want to know your personal loan EMI before applying for the loan? Use our personal loan EMI calculator and find your EMI instantly!

What is a Personal Loan EMI Calculator?

A personal loan EMI calculator is an online tool that helps you find the prospective EMIs for your loan. You can find the total interest payable over the repayment tenure and the total amount you pay for the loan, including the interest component. This can help you budget for the loan EMIs easily.

How does the calculator work?

To use the personal loan EMI calculator, you have to enter the loan amount, repayment tenure, and the applicable interest rate. Based on these details, the calculator calculates the EMIs instantly. You can also change the inputs to find an EMI that best fits your budget.

Calculate EMI
Calculate Your Loan Amount

PERSONAL LOAN AMOUNT

Tenure (1 to 7 Years)

Rate of Interest (9 to 13%)

I CAN PAY EMI OF

Tenure (1 to 7 Years)

Rate of Interest (9 to 13%)

Your EMI

₹ 10,624

Total Interest

₹ 1,37,440

Total Payout

₹ 6,37,440

Apply Now

Your Loan Amount

₹ 7,05,981

Total Interest

₹ 1,94,019

Total Payout

₹ 9,00,000

Apply Now

Our Personal Finance Products

Find a wide range of solutions for all your financing needs.

Personal Loan

A personal loan is an unsecured loan that helps you raise funds for your financial needs.

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Long Term Personal Loan

Spread repayments over an extended tenure to keep EMIs affordable and predictable. A practical choice for funding larger expenses without straining your monthly budget.

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Short Term Personal Loan

A quick-repayment option for smaller, immediate needs, with tenures designed to help you clear the loan faster. Shorter tenures mean a lower total interest outgo over the life of the loan.

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Flexi Loan

Get an instant line of credit with Aditya Birla Capital Flexi Loan and pay interest only on the amount borrowed.

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Features and Benefits of Education Loan

Flexible Repayment Tenure

You can pick a tenure for your repayment of the loan for higher education based on your current financial conditions and anticipated future income.

Moratorium Period

Many education personal loans offer a moratorium period during the course duration and, in some cases, for a specified period after course completion. This allows you to begin repayment once you are financially stable,

High Loan Amount Coverage

The loan amount sanctioned for higher studies can cover almost all your expenses, including your fees, accommodation, books, travel and other required education-related expenses.

Predictable EMIs

With a fixed interest rate, you can figure out your EMIs and plan your budget for hassle-free repayments

No Collateral for Select Institutions

Eligible students admitted to select recognised institutions may be able to avail an Education Loan without providing collateral. The availability of unsecured loans depends on the lender's criteria and the institution.

Quick Loan Processing

A streamlined application and verification process helps ensure faster loan approval and disbursal. This enables students to meet admission deadlines and other educational expenses on time.

Education Loan Eligibility and Documents

Documents Required for Education Loan

Identity Proof Aadhaar Card, PAN Card, Passport, Voter ID.
Address Proof Utility bills, Aadhaar card, passport, or rental agreement.
Income Proof The latest 3 months' salary slips.
Bank Statements Last 6 months' statements showing salary credits.
Photograph One recent passport-size photograph.

Eligibility Criteria for Education Loan

Age : The minimum age is 21 or 23 years, depending on the loan type, and the maximum is 60 years. In some cases, the entry age is extended to up to 62 years.
Employment Type: You must be a salaried employee at a recognized organization.
Monthly Income: A stable monthly income is essential for loan eligibility.
Credit Score: A CIBIL score of 700 or more helps in quicker approval and better terms.
Work Experience: Six months in the current employment.

Types of Personal Loan in India

Personal Loan For Medical Emergency

Get Personal Loans for Medical Emergency and manage your urgent medical bills. Get quick approvals and faster loan sanctions.

Personal Loan for Marriage

A Personal Loan for Marriage can help you fund the various costs associated with a wedding so that you can celebrate without financial worries.

Personal Loan for Teachers

Tailored especially for teachers, the Personal Loan for Teachers can be used to fund multiple financial needs with quick approvals.

Personal Loan for Emergency

Get a Personal Loan for Emergency and get quick funds for meeting unforeseen situations. Get the loan without collateral and at attractive interest rates.

Personal Loan for Home Renovation

Transform your house into your dream home with a Personal Loan for Home Renovation. Enjoy a digital onboarding journey with attractive interest rates.

Personal Loan for Students

The Personal Loan for Students offers collateral-free funding to meet education costs, living expenses or any other financial needs that students might have.

Personal Loan for Women

Personal Loans for Women are designed for females looking for collateral-free funding solutions for personal or business-related needs.

Personal Loan for Salaried Individuals

Salaried individuals can get a Personal Loan and meet any financial need at attractive interest rates, no collateral, and flexible repayment options.

Personal Loan for Government Employees

Personal Loans for Government Employees give collateral-free loans at attractive interest rates and quick sanctions for every financial need.

Tools

Financial Reports

ABC of Calculator

Customer Satisfaction Stories

Mr. Hiralkumar Ashokbhai Patel

Aditya Birla Finance Customer

Mr. Pramod Kumar Saini

Aditya Birla Finance Customer

Ashesh Shah

Aditya Birla Capital Limited

Mr. Baijnath Choudhary

Aditya Birla Capital

Mrs. Snehal Rajpure

Aditya Birla Finance Customer

FAQs on Education Loan

Balance Transfer

Lower rates, affordable repay

Reduced Interest Rates
Lower Monthly Payments

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Expand health coverage, low premiums

Comprehensive coverage
Affordable with low premiums

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Disclaimer

Call 1800 270 7000 OR write to us at care.finance@adityabirlacapital.com.

For more details, to know your personal loan eligibility, access the product brochure or to set a meeting with our relationship manager.

The information presented on this page is intended solely for general informational purposes and does not constitute financial, investment, or professional advice. This content has not been authored by, nor does it represent an official communication from, Aditya Birla Capital Digital Limited. It is compiled from publicly available secondary sources, which may be subject to change without prior notice. Readers are strongly advised to conduct their own independent research and seek guidance from licensed financial advisors before making any investment decisions. All investments carry inherent risks, including the potential loss of principal. Past performance is not indicative of future results.