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Theo

● Education Loan Expert

🎓 Hi! Ask me about education loan rates for IIT/IIM, study abroad, moratorium period, or which bank gives the best deal for your college.

🎓 Education Loan — Invest in Your Future

No repayment during studies. Up to ₹40L for premium courses. Special low rates for IIT, IIM, NIT students. Full interest deduction under Section 80E.

6.60%Starting Rate
₹40 L+Max Loan
UnlimitedSec 80E Deduction
No repayment during study period
No collateral up to ₹7.5 Lakh
0.5% extra discount for women students

Compare Education Loan Rates — 2026

🔍 Filter Results

17%

Education Loan Comparison

Sort by:
LenderInterest RateMax LoanMoratoriumBest For
Canara Vidhya Turant
Lowest Rate		6.60% p.a.₹40 LYesPremium courses
PNB Pratibha
IIT/IIM/NIT		8.45% p.a.₹20 LYesIIT/IIM/NIT students
Bank of Baroda
8.50% p.a.₹20 LYesGeneral courses
Indian Bank (List A)
8.60% p.a.₹20 LYesMedical / professional
HDFC Credila
NBFC		9.00–13.86% p.a.₹20 LYesFlexible, fast approval
SBI
10.25–10.50% p.a.₹20 LYesGeneral courses
Avanse (Abroad)
Study Abroad		10–16.50% p.a.₹40 LYesForeign universities
HDFC Credila (Abroad)
Study Abroad		11.85% p.a.₹40 LYesUS/UK/Canada
* No collateral required up to ₹7.5L. 0.5% discount for girl students. Section 80E: unlimited interest deduction (both tax regimes).

Education Loan EMI Calculator

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💡 Section 80E: Entire interest amount deductible — no upper limit. Available in both tax regimes.

About Education Loans

How Education Loans Work

Education loans are disbursed to the college/university directly (for tuition fees) or to the student's account (for living expenses). During the study period + 6–12 months after, no repayment is required — this is the moratorium period. Repayment starts after you complete your course and find employment.

Expenses Covered

  • Tuition & course fees
  • Hostel / accommodation
  • Books, equipment, laptop
  • Travel (for study abroad)
  • Examination fees
  • Project & research work

Key Benefits

  • No repayment during study: Focus on your education
  • Section 80E: Full interest deduction — no ceiling
  • No collateral up to ₹7.5L: Clean application
  • 0.5% discount for women: Additional savings
  • 0.5% with life insurance: Optional but beneficial

Eligibility

ApplicantStudent (co-borrower: parent/guardian)
AdmissionConfirmed admission in recognised institution
CoursesUG, PG, Diploma, Professional, Vocational
CollateralNot required up to ₹7.5L

Frequently Asked Questions

The moratorium is the holiday period during which you don't need to pay EMIs. It covers your full course duration + 6 to 12 months after completion (varies by bank). This gives you time to complete your studies and find employment before repayment begins. Note: interest continues to accrue during this period.
No collateral is required for loans up to ₹7.5 lakh. For higher amounts (up to ₹40L), collateral like property, FD, or insurance policy may be required. PNB Pratibha waives collateral entirely for students admitted to IITs, IIMs, and NITs.
Under Section 80E, the entire interest amount you pay on an education loan can be deducted from your taxable income — with no upper limit. This benefit is available for 8 consecutive years from the year you start repaying. Importantly, it applies in both old and new tax regimes.
Yes! Avanse and HDFC Credila specialise in study-abroad loans up to ₹40L. Rates are 10–16.5%. You'll need university admission proof, visa, and fee structure. Some lenders cover living expenses and travel costs too. Our experts can help you compare and apply.

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Theo

Your AI Financial Expert

👋 Hi! I'm Theo, your AI financial expert. What are you looking for today?