Private bank
Kotak Mahindra Bank
Kotak Education Loan
Existing Kotak customers with a modest loan and a co-applicant on salary.
Check Kotak eligibilityThe bank prices each file. Treat any advertised floor as the best case.
What to know
- Better suited to smaller Indian-campus loans than to large unsecured abroad files.
- A co-applicant is required.
- Compare the fee and the rate with a public-sector quote before you sign.
Terms
- Interest
- Profile-based
- Maximum
- Often capped lower than SBI abroad schemes. Confirm the current ceiling.
- Without collateral
- Depends on the institute list
- Tenure
- Up to 15 years on most education products
- Processing fee
- Usually charged, plus GST.
- Margin
- Often nil on premier-institute files. Standard files follow the bank’s grid.
- Moratorium
- Course period plus 6 to 12 months
- Girl student
- Ask. A few private banks match the 0.50% public-sector concession.
- Typical speed
- About 5–10 working days
- Covers
- India and abroad
Eligibility
- Indian national, or an OCI where the lender allows it, with an admission offer.
- A co-applicant, usually a parent or guardian.
- Acceptable credit on the co-applicant for anything above the unsecured cap.
Documents
- Admission letter or college allotment, plus the fee structure.
- KYC for the student and co-applicant: PAN, Aadhaar, and passport-size photographs.
- Academic records: Class 10, Class 12, and degree marksheets.
- Co-applicant income proof: salary slips or ITR, and six months of bank statements.
- Collateral papers only when the loan is above the unsecured limit.
The bank or NBFC sanctions the loan. This page is a briefing so you can compare, not an offer.