Study in India (Domestic) Education Loan UG & PG
Scholarship Amount
About This Scholarship
This education loan program offers significant financial support for Indian students pursuing undergraduate and postgraduate programs within India. It is designed to ease the financial burden of higher education, providing comprehensive coverage for various academic and living expenses.
Key benefits of this education loan include:
• Collateral-free loan amount up to ₹40 lakh (minimum loan amount of ₹1 lakh).
• Education loan interest rates starting at 8.1% p.a.
• Provision for easy and fast loan sanction through a seamless application process.
• Education loan up to ₹2 crore is available with collateral.
• 100% income tax benefit applies for interest paid under Section 80E of the IT Act.
The loan amount covers a wide range of expenditures incurred while pursuing the course:
1. College-related Expenditures:
• Tuition and fees payable to the institute.
• Examination/library/laboratory fees.
• Purchase of books/equipment/uniform.
• Living expenditure, including hostel fees.
2. Additional Expenditures:
• Travel expenses.
• Purchase of computers/laptops.
• Cost incurred on overseas travel insurance.
• Cost incurred on health insurance.
Note: Special consideration will be given to students pursuing professional courses from NIRF or top educational institutions, potentially with lesser interest rates, quick loan disbursal, and other benefits depending on the selected course and institution.
Eligibility Criteria
To be eligible for the Study in India (Domestic) Education Loan, applicants must meet the following criteria:
• Open for Indian students who have secured confirmation of admission for pursuing UG/PG programmes in India.
• Must have been admitted to the desired institution after having completed the pre-requisite qualification criteria.
• Annual family income of the applicant should be more than ₹3 lakh per annum. (Family income criteria is not a necessary requirement for loan amount below ₹7.5 lakh).
• Application for the loan amount should be more than ₹1 lakh.
Required Documents
Applicants must upload the following documents when submitting their application:
• Recent passport-size photograph.
• Address proof (e.g., Aadhaar Card, Driving License, Passport, Voter ID, NREGA Job Card of parent(s)).
• Admission proof (e.g., College ID, Admission Letter, Bonafide Letter from the Institute).
• Documents on fee structure.
How to Apply
To apply for the Study in India (Domestic) Education Loan, please follow these steps:
1. Click the ‘Apply Now’ button.
2. Login to the official website with your registered ID and navigate to the ‘Application Form Page’.
• If not registered on the official website, register with your Email/Mobile/Gmail account.
3. You will then be redirected to the ‘official website Education Loan programme’ application form page.
4. Click on the ‘Start Application’ button to begin the application process.
5. Fill in the required details in the online application form.
6. Upload all relevant documents.
7. Accept the ‘Terms and Conditions’ and click on ‘Preview’.
8. If all the details filled in by the applicant are correctly displayed on the preview screen, click on the ‘Submit’ button to complete the application process.
Scholarship Categories
Study Abroad (International) Education Loan UG & PG
Eligibility Requirements
To be eligible for the Study Abroad (International) Education Loan, applicants must meet the following criteria:
• Open for Indian students who have received confirmation of their admission to UG/PG programmes abroad.
• Must have been admitted to the desired institution after having completed the pre-requisite qualification criteria.
• Annual family income should be more than ₹3 lakh.
Required Documents
Applicants must upload the following documents when submitting their application:
• Recent passport-size photograph.
• Address proof (e.g., Aadhaar Card, Driving License, Passport, Voter ID, NREGA Job Card of parent(s)).
• Admission proof (e.g., College ID, Admission Letter, Bonafide Letter from the Institute).
• Documents on fee structure.
Application Process
To apply for the Study Abroad (International) Education Loan, please follow these steps:
1. Click the ‘Apply Now’ button.
2. Login to the official website with your registered ID and navigate to the ‘Application Form Page’.
• If not registered on the official website, register with your Email/Mobile/Gmail account.
3. You will then be redirected to the ‘official website Education Loan programme’ application form page.
4. Click on the ‘Start Application’ button to begin the application process.
5. Fill in the required details in the online application form.
6. Upload all relevant documents.
7. Accept the ‘Terms and Conditions’ and click on ‘Preview’.
8. If all the details filled in by the applicant are correctly displayed on the preview screen, click on the ‘Submit’ button to complete the application process.