Why Choose Us?
- Flexibile Collateral
- AI Powered Loan Suggestions
- Low Bank Processing Fee
Start your journey now
Help us with a few details
Need a quick loan assistance? Call Our Experts:
+91 7088 855 855, +91 7088 844 844
Help us with a few details
Need a quick loan assistance? Call Our Experts:
+91 7088 855 855, +91 7088 844 844
Pursuing higher education in India requires significant financial planning due to rising tuition fees and living costs. An education loan for studies in India can be a viable solution, providing the necessary funds to achieve academic dreams without financial strain. This article delves into the options available for education loans in India, comparing various banks and NBFCs, and highlights how Wefundyourfuture can assist in finding the right loan.
India boasts some of the world’s top educational institutions offering diverse courses. However, the costs associated with higher education, including tuition fees, accommodation, and other expenses, can be daunting. Educational loans provide a structured way to finance these costs, allowing students to focus on their studies without financial worries.
When planning for higher education in India, consider the following expenses:
Varies significantly based on the course and institution, typically ranging from INR 1 lakh to INR 25 lakhs.
Includes accommodation, food, transportation, and personal expenses, often amounting to INR 1 lakh to INR 3 lakhs per year.
Covering books, study materials, and other academic requirements.
Education loans in India offer several benefits designed to support students’ financial needs:
Up to 100% of the tuition fee and living expenses.
Ranges from undergraduate to postgraduate programs, including professional courses like MBA, MBBS, Engineering, and more.
Flexible repayment options extending up to 10-15 years.
Enables students to apply for loans before admission confirmation.
Eliminates the need for students to pay any upfront amount.
Eases the loan approval process.
Deductions under Sec 80-E of the Income Tax Act.
Here’s a comparison of education loans offered by various banks and NBFCs for studying in India:
| Institution | Maximum Loan Amount | Interest Rate (%) | Repayment Tenure (Years) | Collateral Requirement | Key Features |
| InCred | Up to 90 lakhs | 11.50-12 | Up to 12 years | Yes | Fully digital application |
| HDFC Credila | Up to INR 1 crore | 10.25-12.25 | Up to 15 years | Yes | Pre-admission loan sanction, flexible repayment options |
| Axis | Up to 1.2 crore | 11-12.5 | Up to 15 years | Yes | Quick loan processing |
| Auxilo | Up to 80 lakhs | 11.25-13 | Up to 12 years | No (under conditions) | Quick loan processing |
| Avanse | Up to 75 lakhs | 10.5-12.5 | Up to 12 years | Yes | Comprehensive coverage, tailored loan structuring |
| Tata Capital | Up to INR 1 crore | 11-13.50 | Up to 15 years | Yes | Minimal documentation, customizable loan options |
Wefundyourfuture is an educational loan consultancy that partners with over 15 banks and NBFCs, offering students a wide range of options with competitive interest rates. Here’s how Wefundyourfuture can assist:
Provides tailored guidance to help students choose the best loan options.
Allows easy comparison of loan offers from multiple banks and NBFCs.
Assists in the loan application process, ensuring all requirements are met.
Offers insights on managing finances and optimizing the benefits of educational loans.
Securing an education loan for studies in India can significantly reduce the financial burden, allowing students to focus on their academic goals. With a variety of options available from banks and NBFCs, and the expert assistance from Wefundyourfuture, students can find the right loan that suits their needs, ensuring a smooth path to higher education.