500+ Institutions
IITs, IIMs, AIIMS & more
Education Loans forIIT, IIM, AIIMS& Top Universities
Achieve your academic dreams at India's premier institutions with our comprehensive education loan solutions. Get up to ₹75 Lakhs for premier institutions with competitive rates.
₹40 Lakhs
Max Loan
7-10 Days
Approval
From 7.1%*
Interest Rate
* Lowest rate under PM Vidyalaxmi (top colleges, as per the QHEI list). Your rate depends on your college, lender and profile.
Your options
Which loan fits you?
It starts with one question: is your college on the PM Vidyalaxmi list?
Your college is on the PM Vidyalaxmi list
Any course qualifies. Apply under PM Vidyalaxmi at the rate set for your college, between 7.1% and 8.85%.
Not on the list: bachelor's courses
- Loan up to ₹7.5 lakh: apply directly at a government bank. No collateral is needed. Up to ₹4 lakh you need no guarantor either, and above that the bank may ask for a third-party guarantee.
- Loan above ₹7.5 lakh:
- Government bank, against collateral.
- Private bank, if your co-applicant is salaried, or self-employed with strong income proof. You pay simple interest during the course and the full EMI after.
- NBFC, for other self-employed co-applicants. You pay the full EMI.
Not on the list: master's courses
- Private banks: some charge simple interest during the course, others only part of it.
- NBFCs: part of the simple interest, the full simple interest, or a full moratorium where you pay nothing until the course ends.
- The terms mostly depend on how your university is ranked.
Why Choose Our India Study Loans
Tailored features for Indian education aspirants
Up to ₹75 Lakhs
Complete financing for tuition, hostel and other expenses at premier institutions
No Collateral
Up to ₹7.5 Lakhs without any security for premier institutions
Quick Approval
Loan approval within 7-10 working days
Best Interest Rates
From 7.1% at PM Vidyalaxmi-listed colleges, with flexible terms
Premier Institutions We Cover
Finance your education at India's top universities and colleges
IITs
Engineering, Technology
Indian Institutes of Technology
IIMs
MBA, Management
Indian Institutes of Management
AIIMS
MBBS, Medical
All India Institute of Medical Sciences
NITs
Engineering, Technology
National Institutes of Technology
NLUs
Law, Legal Studies
National Law Universities
Private
All Disciplines
Top Private Universities
Government Schemes & Benefits
Take advantage of government interest subsidy schemes
Central Sector Interest Subsidy Scheme
Interest subsidy for economically weaker students
Dr. A.P.J. Abdul Kalam Interest Subsidy Scheme
Interest subsidy for technical education
Padho Pardesh Scheme
Interest subsidy for study abroad
Simple 4-Step Process
From application to disbursement in just 7-10 days
Excellence in Indian Education
Fast approval for top Indian institutions
Online Application
Fill out our simple online form with your details
Document Verification
Upload and verify all required documents
Institution Verification
We verify your admission and course details
Quick Disbursement
Direct payment to institution account
Eligibility Criteria
- Indian citizen seeking admission to recognized Indian institutions
- Age between 18-35 years at the time of application
- Co-applicant (parent/guardian) with stable income source
- Minimum 50% marks in qualifying examination
- Confirmed admission to eligible course and institution
Documents Required
- Admission letter from recognized institution
- Academic mark sheets and certificates
- Income proof of co-applicant (salary slips, ITR)
- Bank statements of co-applicant (last 6 months)
- Identity and address proof of applicant and co-applicant
- Property documents (if collateral required)
Course-Specific Loan Options
Explore tailored education loan solutions for your chosen course
The Complete India Loan Guide
Everything about studying in India on a loan
80% of eligible Indian students never apply for an education loan. They think it's "unnecessary debt." With Section 80E benefits and government subsidies, an Indian education loan often costs less than 7% effectively, cheaper than your parents' FD returns.
Lenders
Bank & NBFC Comparison
PSU banks dominate Indian loans. Cheaper, willing to lend to non-tier-1 colleges, with government schemes attached. Private banks and NBFCs come into play for IIMs/ISB or when speed matters.
| Lender | Type | Rate Range | Max Loan | Best For |
|---|---|---|---|---|
 SBI Scholar Loan | PSU | 7.15% to 7.90% | ₹40 L | IIT, IIM, AIIMS, NIT |
 Bank of Baroda Vidya | PSU | 8.45% to 10.10% | ₹40 L | All recognised colleges |
 Canara Bank Vidya Turant | PSU | 8.60% to 10.30% | ₹40 L | Fast PSU disbursal |
 Punjab National Bank | PSU | 8.50% to 10.25% | ₹40 L | North India network |
 ICICI Bank | Private | 9.85% to 12.00% | ₹50 L | IIM, ISB, top private |
 Axis Bank | Private | 10.10% to 12.25% | ₹50 L | MBA / management |
 Credila | NBFC | 10.50% to 13.00% | ₹75 L | High-amount premium |
 Avanse Financial | NBFC | 11.00% to 14.00% | ₹75 L | Non-conventional courses |
Indicative rates as of May 2026. PSU banks revise rates quarterly with RBI repo movements.
By Course
Typical Loan Amounts
Loan amount depends heavily on course and college tier. Ranges cover total program cost (tuition + hostel + books + travel).
MBA
₹15 L to ₹50 LTopIIM A/B/C, ISB, XLRI
Tier-2IIM Tier-2, MDI, FMS
MBBS
₹5 L to ₹1 CrTopAIIMS, JIPMER (govt)
Tier-2Pvt colleges (₹70L+)
B.Tech
₹3 L to ₹30 LTopIIT, BITS Pilani
Tier-2NIT, IIIT, VIT, SRM
BDS
₹3 L to ₹50 LTopGovt dental colleges
Tier-2Private (₹50L+)
CA
₹2 L to ₹8 LTopCA + coaching
Tier-2CA articleship support
Law
₹5 L to ₹25 LTopNLU Bangalore/Delhi
Tier-2Symbiosis, Jindal
B.Sc Nursing
₹2 L to ₹12 LTopAIIMS, CMC Vellore
Tier-2State colleges
Government Subsidies
Free money most students miss
India runs 4 major schemes that dramatically cut your effective loan cost. Eligibility is income-based, not merit.
CGFSEL
Credit Guarantee Fund Scheme
75% guarantee
Collateral-free PSU loan at 8–10% rates that would otherwise need property. No income cap, every student qualifies.
CSIS
Central Sector Interest Subsidy
100% interest paid
Government pays your interest during course + 1 year moratorium. For technical and professional courses, on loans up to ₹10 L from scheduled banks.
PM Vidyalakshmi
PM Vidyalakshmi Scheme (2024)
75% guarantee + 3% subsidy
Collateral & guarantor-free loans for 1,441 listed NIRF-ranked institutions. 3% interest subsidy on loans up to ₹10 L.
Padho Pardesh
Padho Pardesh Scheme
Interest subsidy
For minority community students pursuing PG abroad. Applied through IBA online portal. Stackable with bank loans.
See what the subsidies are worth on your loan: PM-Vidyalaxmi benefits explained.
State Benefits
State-Wise Schemes (Stack with central)
Beyond central schemes, several state governments offer their own subsidies. If you're a state domicile, these stack with CSIS / PM Vidyalakshmi for major savings.
Kerala
KSFE Vidya Sahay
Medical & professional
Tamil Nadu
Dr. M.G.R. Loan
SC/ST/MBC (income ≤ ₹2 L)
Karnataka
Vidyasiri
Backward class students
Maharashtra
Annasaheb Patil
Maratha community
Andhra / Telangana
Jagananna Vidya Deevena
Income ≤ ₹2.5 L
Punjab
Punjab Cooperative
Higher studies in India / abroad
Pro tip: State schemes can be combined with CSIS / PM Vidyalakshmi + a bank loan. Paperwork is heavier but rate savings are significant.
PM-Vidyalaxmi Portal
One government form. Apply to 3 banks at once. Track all of them from one dashboard. Free.
pmvidyalaxmi.co.in →How the PM-Vidyalaxmi scheme works →One form → up to 3 banks at once
Track status across all banks from one dashboard
13 PSU banks + most private banks integrated
Form auto-fills repeat fields (saves 30+ min)
Apply 24×7 from anywhere in India
Free for students: no portal or bank fees
Recommended approach: Apply via Vidya Lakshmi to 1 PSU (lowest rate) + 1 private bank (speed) + 1 NBFC (flexibility). Compare sanction letters when they arrive.
Decision Framework
Which lender should you pick?
- Loan under ₹40 L
- Govt or top-ranked college
- Family income ≤ ₹8 L
- 25+ days available
- Lowest cost matters
- IIM / ISB / top private
- ₹25–50 L unsecured needed
- 7–14 day approval
- Strong co-applicant
- Existing bank relationship
- Need ₹50 L+ unsecured
- Non-conventional course
- Self-employed co-applicant
- Need approval in 5–7 days
- Borderline credit score
Insider Tips
5 tips for faster approval
Get college on bank's approved list
If yours isn't, ask the bank to add it (takes ~7 days but unlocks lower rates).
Apply right after admission
Once classes start, processing slows. Apply within 2 weeks of your admission letter.
Carry semester-wise fee structure
Banks disburse fees per semester. Clean breakdown shortens disbursement by 5–10 days.
Open a savings account first
Banks expedite approvals for existing customers. Opening 2 months prior helps.
Don't negotiate rate before sanction
Banks rarely budge on rate pre-sanction. Always negotiate after offers come in.
India Education Loan FAQs
Common questions about education loans for studying in India