Empowering Your Education Dreams
At ZestLoans, we understand that quality education is the foundation for a successful future. Our Education Loan services help students and parents bridge the financial gap, making higher studies in India or abroad accessible and stress-free.
Why Choose ZestLoans for Education Loans?
✅ Multiple Bank Options: Compare education loan offers from top banks and NBFCs.
✅ Fast & Hassle-Free Processing: Quick documentation and approval through our partner banks.
✅ Flexible Repayment: Convenient repayment options tailored to your financial situation.
✅ Cover for All Expenses: Tuition fees, books, accommodation, travel, and other educational costs.
✅ Study in India or Abroad: Loans available for recognized institutions in India and international universities.
Eligibility Criteria
- Applicant must be an Indian citizen.
- Admission must be secured in a recognized educational institution.
- Co-applicant (parent/guardian) with a stable income may be required.
- Minimum academic performance as per lender guidelines.
Documents Required
- Admission letter or offer from the institution.
- Fee structure and cost breakdown.
- KYC documents (ID and address proof).
- Academic records and mark sheets.
- Income proof of co-applicant (if applicable).
Loan Highlights
| Feature | Details |
|---|---|
| Loan Amount | Up to ₹50 Lakhs (based on course and institution) |
| Tenure | Up to 15 years |
| Interest Rate | Competitive rates from leading banks |
| Moratorium | Course duration + 6 to 12 months grace period |
How to Apply
- Fill Out a Simple Form on ZestLoans.in.
- Get Loan Offers from multiple banks.
- Compare & Choose the best interest rates and terms.
- Submit Documents and get quick approval.
Popular Courses Covered
🎓 Engineering
🎓 Management (MBA)
🎓 Medical & Nursing
🎓 Law & Architecture
🎓 Arts, Science & Commerce
🎓 Overseas Education Programs
Secure Your Future Today
Don’t let financial barriers stand in your way. Apply for an Education Loan through ZestLoans.in and focus on what truly matters — your education and career growth.
Education Loan FAQs
1. What is an education loan?
An education loan is financial assistance provided by banks or NBFCs to students to cover expenses related to tuition fees, books, accommodation, and other study-related costs for higher education in India or abroad.
2. Who is eligible to apply for an education loan?
Students who have secured admission to recognized institutions in India or abroad through merit or entrance exams are eligible. The applicant must usually be an Indian citizen and have a co-applicant (parent or guardian).
3. What expenses are covered under an education loan?
Education loans generally cover tuition fees, exam fees, library and lab fees, cost of books, travel expenses for overseas education, and hostel or living expenses.
4. What are the types of education loans available?
There are two main types — Domestic Education Loans (for studies within India) and Overseas Education Loans (for studies abroad).
5. How much loan amount can I get?
The loan amount depends on the course, institution, and repayment capacity. Typically, banks offer up to ₹10–₹20 lakhs for studies in India and up to ₹30–₹40 lakhs or more for studies abroad.
6. Do I need a co-applicant or guarantor?
Yes. Usually, a parent, guardian, or spouse acts as a co-applicant. Some loans may also require collateral or a third-party guarantor depending on the loan amount.
7. What is the interest rate for education loans?
Interest rates vary by bank and institution, usually between 8% to 12% per annum. Some banks offer concessions for female students or top-ranking institutions.
8. What is the repayment period for an education loan?
Repayment typically starts after the course completion plus a moratorium period (6–12 months). The loan tenure can extend up to 10–15 years.
9. Is there any tax benefit on education loans?
Yes. Under Section 80E of the Income Tax Act, you can claim a tax deduction on the interest paid for up to 8 years.
10. What documents are required to apply for an education loan?
Common documents include admission letter, mark sheets, ID proof, address proof, income proof of co-applicant, and cost estimate of the course.
11. Can I prepay my education loan early?
Yes, most banks allow prepayment or foreclosure with minimal or zero charges after a certain period.
12. What happens if I am unable to find a job immediately after graduation?
Banks usually provide a grace period before starting repayment. You can also request an extension if you face genuine difficulties in finding a job.
