Education Loan Finder & EMI Calculator – Compare Education Loans in India
Compare education loans from leading Indian banks, calculate EMI, estimate affordability, explore government schemes, and make smarter borrowing decisions—all in one place.
Get a personalized roadmap that guides you from planning your education to successfully repaying your loan and achieving your career goals.
1
Profile Setup
Enter your academic profile including course, destination, estimated education cost, family income, and career goals to generate your personalized roadmap.
2
Eligibility & Scholarships
Instantly discover your education loan eligibility, scholarship opportunities, government schemes, and financial assistance that match your profile.
3
Financial Planning
Compare education loan options, estimate EMI, explore moratorium benefits, calculate total repayment, and understand future financial commitments.
4
Application Checklist
Receive a personalized checklist of required documents, application deadlines, admission milestones, visa requirements, and loan application progress.
5
Career Success Roadmap
Get AI-generated career milestones including internship goals, skill development recommendations, placement preparation timeline, expected salary insights.
6
Track & Achieve
Monitor your roadmap progress with milestone tracking, reminders, completed achievements, repayment status, and downloadable progress reports.
Ready to Build Your Success Roadmap?
Generate your personalized education journey in minutes and receive a step-by-step action plan tailored to your academic goals and financial profile.
Choosing between a public sector bank (like SBI or Bank of Baroda) and an NBFC (like HDFC Credila or Avanse) depends on your need for collateral-free loans versus the lowest possible education loan interest rates. Compare the leading lenders below.
Public Sector Bank
SBI Education Loan (Global Ed-Vantage)
Interest Rate8.65% - 10.15% (Floating)
Max Loan₹1.5 Crore+
Collateral & MarginRequired for > ₹7.5 Lakhs (Property, FD)
RepaymentUp to 15 Years
MoratoriumCourse Duration + 6 Months
Key Pros
•Lowest interest rates
•Section 80E tax benefits
•No processing fee for up to ₹20L
Considerations
•Strict collateral requirements
•Longer processing time (15-30 days)
Best For:Students targeting top global universities with solid collateral.
NBFC
HDFC Credila Education Loan
Interest Rate11.5% - 13.5% (Floating)
Max LoanNo upper limit
Collateral & MarginUnsecured loans up to ₹50 Lakhs available
RepaymentUp to 14 Years
MoratoriumPartial/Simple Interest during course
Key Pros
•Doorstep service
•Up to ₹50L without collateral
•Fast processing (4-5 days)
Considerations
•Higher interest rates than public banks
•Processing fee is 1-2% of loan amount
Best For:Students needing fast approvals without collateral for MS/MBA abroad.
Public Sector Bank
Bank of Baroda Education Loan (Baroda Scholar)
Interest Rate8.85% - 9.85% (Floating)
Max Loan₹1.5 Crore
Collateral & Margin100% tangible collateral for > ₹7.5 Lakhs
Repayment10 - 15 Years
MoratoriumCourse Duration + 1 Year
Key Pros
•0.50% concession for female students
•Margin money not required for premier institutes
Considerations
•Complex documentation
•Strict co-applicant CIBIL requirements
Best For:Female students and those attending premier institutes (IIMs, IITs, Ivy League).
NBFC
Avanse Education Loan
Interest Rate12.0% - 14.5% (Floating)
Max Loan100% of cost of education
Collateral & MarginUnsecured loans up to ₹75 Lakhs available
The Indian Government offers several interest subsidy schemes to ensure that no student is deprived of higher education due to financial constraints. If your family income is below certain thresholds, you may be eligible to have 100% of your interest paid by the government during your study period.
A single window IT platform developed under the guidance of the Department of Financial Services (Ministry of Finance). Students can view, apply, and track education loan applications to multiple banks anytime, anywhere.
Common Educational Loan Application Form (CELAF)
Linkage to National Scholarship Portal
Over 40 Banks registered on the platform
Track application status across multiple banks simultaneously
Central Sector Interest Subsidy (CSIS) Scheme
Designed for students belonging to economically weaker sections (EWS) with an annual gross parental/family income up to ₹4.5 Lakhs.
100% Interest Subsidy during moratorium period
Applicable only for technical and professional courses in India
Loan amount up to ₹7.5 Lakhs without collateral
Available once for either undergraduate or postgraduate level
Dr. Ambedkar Central Sector Scheme
Interest subsidy on educational loans for overseas studies for Other Backward Classes (OBCs) and Economically Backward Classes (EBCs).
Interest subsidy during moratorium period (course period + 1 year)
Applicable for Masters, M.Phil, and Ph.D. abroad
Maximum eligible income: ₹8 Lakhs for OBC, ₹2.5 Lakhs for EBC
Padho Pardesh Scheme
Scheme of Interest Subsidy on educational loans for overseas studies for students belonging to minority communities.
For notified minority communities (Muslims, Christians, Sikhs, Buddhists, Jains, Parsis)
Subsidizes 100% interest during the moratorium period
Family income must not exceed ₹6 Lakhs per annum
Global Education Financing
Education Loans for Abroad Studies
Funding an international degree requires careful planning around currency fluctuations, proof of funds (I-20, CAS, GIC), and high living costs. Find the best unsecured and secured abroad education loans categorized by top study destinations.
USA
Max Loan (Secured)₹1.5 Crore
Unsecured Limit₹50 Lakhs (STEM)
Margin Money0% - 15%
Top Lenders for USA
SBIHDFC CredilaAvanseProdigy Finance
UK
Max Loan (Secured)₹1 Crore
Unsecured Limit₹40 Lakhs
Margin Money0% - 10%
Top Lenders for UK
Bank of BarodaAxis BankICICI
Canada
Max Loan (Secured)₹80 Lakhs
Unsecured Limit₹40 Lakhs
Margin Money0% (for GIC & initial fee)
Top Lenders for Canada
SBIAvansePNB
Germany
Max Loan (Secured)₹50 Lakhs
Unsecured Limit₹30 Lakhs
Margin Money0% (Blocked Account covered)
Top Lenders for Germany
Bank of BarodaHDFC Credila
Australia
Max Loan (Secured)₹1 Crore
Unsecured Limit₹40 Lakhs
Margin Money5% - 15%
Top Lenders for Australia
SBIAxis Bank
Ireland
Max Loan (Secured)₹60 Lakhs
Unsecured Limit₹35 Lakhs
Margin Money0% - 10%
Top Lenders for Ireland
HDFC CredilaICICI
Why Students Choose Sarkarimate
We're on a mission to make education financing accessible, transparent, and hassle-free for every Indian student.
Save Precious Time
Stop visiting multiple branches. Fill one form and check your eligibility across 50+ banks instantly.
Compare 50+ Lenders
From public sector giants like SBI to specialized NBFCs like HDFC Credila, we cover them all.
No Hidden Charges
Our platform is 100% free for students. We provide transparent processing fee and interest rate breakdowns.
Instant Recommendations
Our proprietary algorithm matches your unique profile to the best loan products in milliseconds.
Personalized Results
We factor in your target university, course, GRE/GMAT scores, and co-applicant income for accurate matching.
Trusted Data Security
Your personal and financial data is encrypted and secure. We never sell your information to third parties.
50+
Bank Partners
100K+
Students Helped
₹2000 Cr+
Loans Compared
4.9★
Customer Rating
98%
Success Rate
Don't Just Take Our Word For It
Join over 100,000 students who have successfully funded their dream education using Sarkarimate.
"Sarkarimate made the impossible, possible. I was overwhelmed by the collateral requirements from my local bank. Within 15 minutes on this platform, I found an unsecured loan option from a private NBFC at a lower rate."
Priya Sharma
Columbia University, MS CS
Loan₹65 Lakhs
"The Financial Health Assessment is brilliant. It told me exactly how much loan my father could co-sign based on his DTI. I went into the bank branch with confidence, and my SBI Scholar Loan was approved in 4 days."
Rahul Desai
IIM Ahmedabad, MBA
Loan₹25 Lakhs
"The comparison tool is a lifesaver. I didn't realize how much processing fees vary between banks until I saw the side-by-side table. Sarkarimate saved me almost ₹40,000 in hidden charges before I even applied."
Ananya Patel
University of Toronto, B.Eng
Loan₹40 Lakhs
Frequently Asked Questions
Education Loan FAQs
Expert answers to the most commonly searched queries about student loans.
Which bank education loan is best?
The 'best' education loan depends on your specific needs. Public sector banks like SBI (Global Ed-Vantage) and Bank of Baroda are generally considered best for their low interest rates and longer moratorium periods. However, if you need a collateral-free loan for a high amount, NBFCs like HDFC Credila and Avanse are often better choices due to their flexibility and faster processing times.
How much education loan can a student get?
For studies in India, students can typically get up to ₹10 Lakhs to ₹50 Lakhs depending on the institute (higher for premier institutes like IIMs/IITs). For studying abroad, banks can provide loans up to ₹1.5 Crore or more, provided adequate collateral is offered. Unsecured (collateral-free) loans are usually capped between ₹40 Lakhs to ₹50 Lakhs for top global universities.
What is the PM Vidya Lakshmi scheme?
The Vidya Lakshmi Portal is a single-window IT platform developed under the guidance of the Department of Financial Services (Ministry of Finance), Ministry of Education, and Indian Banks Association (IBA). It allows students to view, apply, and track education loan applications across 40+ registered banks using a Common Educational Loan Application Form (CELAF).
Can I get a 4 lakh education loan?
Yes, easily. According to RBI guidelines, education loans up to ₹4 Lakhs do not require any collateral security or third-party guarantee. You only need a co-applicant (like a parent) and basic documentation such as admission proof and KYC.
How to get education loan after 12th?
To get an education loan after 12th: 1) Secure admission in a recognized university or college for a diploma or degree course. 2) Gather your 10th and 12th marksheets, admission letter, and fee structure. 3) Apply with a co-applicant (parent/guardian) through the Vidya Lakshmi portal or directly at a bank. 4) Submit the co-applicant's income proofs for verification.
Education loan kaise milta hai?
Education loan lene ke liye sabse pehle aapko kisi recognized college ya university mein admission lena hota hai. Uske baad aap bank mein application de sakte hain jisme admission letter, fee structure, aur aapke co-applicant (jaise parents) ke income documents (ITR, Salary slip) lagte hain. ₹4 Lakh tak ke loan ke liye koi collateral (guarantee) nahi chahiye hota.
How to get education loan?
The standard process is: First, secure a confirmed admission to a recognized course. Second, estimate your total costs (tuition, living, travel). Third, compare interest rates across banks. Fourth, apply online or visit a branch with your academic documents, admission letter, and your co-applicant's financial documents. Finally, once approved, the bank disburses the funds directly to the university.
How to apply for education loan?
You can apply for an education loan online through the government's Vidya Lakshmi portal (which links to multiple banks), directly through a specific bank's website, or via platforms like SarkariMate that help you compare and choose. Ensure you have digital copies of your KYC, admission letter, fee structure, and co-applicant income proofs ready before applying.
What is education loan?
An education loan is a specialized financial product designed to help students pay for their higher education expenses. It covers tuition fees, books, living expenses, laptops, and travel. Unlike personal loans, education loans offer a 'moratorium period', meaning the student doesn't have to start repaying the principal amount until 6-12 months after the course is completed.
What is a type 4 student loan?
A Plan 4 (or Type 4) student loan is specific to the UK student finance system, primarily for Scottish students who started an undergraduate or postgraduate course anywhere in the UK on or after 1 September 1998. The repayment threshold is typically adjusted annually (e.g., £31,395 a year for 2024-25), and you repay 9% of your income over that threshold.
How much is the monthly payment on a 50000 student loan?
Assuming a standard 10-year repayment term (120 months) at an average education loan interest rate of 10% p.a., the monthly EMI on a ₹50,000 loan would be approximately ₹661. If referring to $50,000 USD at an average 6% interest over 10 years, the monthly payment would be around $555.
Is a student loan wiped after 30 years?
In the US and UK, certain federal/government student loans have forgiveness clauses where remaining balances are wiped after 20-30 years of qualifying income-driven repayments. However, in India, education loans from banks do not automatically wipe out after 30 years; they must be fully repaid, and defaults severely impact the CIBIL score of both the student and the co-applicant.
Can I get a 50 lakh student loan?
Yes, you can easily get a ₹50 Lakh education loan for studying abroad (or premier institutes in India). Many NBFCs (like HDFC Credila, Avanse) and private banks (like ICICI, Axis) offer up to ₹50 Lakhs without collateral if you are admitted to a high-ranking global university. For public sector banks, loans above ₹7.5 Lakhs generally require 100% tangible collateral (like property or FDs).
What is the minimum student loan payment?
During the study and grace period (moratorium), the minimum payment is usually zero for the principal, though some private lenders require you to pay Simple Interest or Partial Interest (e.g., ₹2,000 to ₹5,000/month). Once the repayment period officially starts, your minimum payment is your fixed EMI, which is calculated based on the total loan amount, interest rate, and chosen tenure (usually 10-15 years).
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The education loan information, interest rates, and EMI calculations provided on SarkariMate are meticulously researched and reviewed by financial experts. We do not charge students for loan comparisons.
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SarkariMate is an independent education loan comparison platform. We are not a bank or a lender. The EMI calculators and eligibility checkers are for estimation purposes only. Final loan approval, interest rates, and loan amounts are at the sole discretion of the respective financial institutions based on your CIBIL score and academic profile.