Loan Amount Without Collateral
Up to ₹1 Crore
Interest Rate
Starting at 11.25%* p.a.
Loan Tenure
Up to 15 Years

Optimise Your Education Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹12,002
Principal Amount
₹100000
Interest Payable
₹1,160,303

Loan Amount

Interest Rate

%
7.00%
15.00%

Tenure

Months
12 Months
180 Months

Why Choose Poonawalla Fincorp

Quick Icon Instant Sanction for Select Institutes
Unsecured loan up to ₹1 Cr
Flexible Repayment
Covers 2000+ Institutes
Competitive Interest Rate
100% Digital Process
Minimal Documentation

Optimise Your Education Loan Experience

With Monthly Budget Planning

Monthly Payable Amount₹ 1,15,000
Principal Amount
₹45,00,000
Interest Payable
₹15,00,000

Loan Amount

₹1,00,000
₹30,00,0000

Interest Rate

%
7 %
15 %

Moratorium Period

Months
12 Months
60 Months

Loan Tenure

Months
24 Months
180 Months
During Moratoruim Post Moratoruim

Get exclusive offers thoughtfully customised just for you

Meet our simple eligibility criteria to qualify:

  • Age
    • Applicant: 16 – 50 Years
    • Financial Co-applicant:
      • Salaried 21 – 60 years
      • Self-employed: 21 to 65 years
    • Non-financial Co-applicant: 21 – 80 years

  • Citizenship: Indian, OCI (Overseas Citizen of India)

  • For Pursuing:• Higher education in India, Abroad

  • Study Location
    • USA
    • United Kingdom, Ireland, Australia, Sweden, Spain, France, Germany, New Zealand, Singapore, UAE, Philippines, Canada, other European countries
    • India

  • Loan Amount With Collateral:
    • Domestic Studies – Up to ₹50 Lakh
    • International Studies - Up to ₹3 Crore
  • Co-applicant:
    • Parents
    • Parents-in-law
    • Siblings
    • Spouse
    • First Cousins
    • Parents' Siblings

Submit a few necessary documents to successfully apply for a Education Loan:

  • Applicant/Student
    • KYC documents
    • Institute Admit Letter (if available)
    • Entrance Test Results (if available)
    • Past Academics
  • Co-applicant Documents
    • KYC
    • Employment
    • Financials:
      • Salaried: Bank Statement, Pay slip, Form 16
      • Self-employed: Bank statement, ITR, GST Surrogate

Get the loan at an attractive interest rate and minimal charges:

Interest Rate
11.25%* p.a. onwards
Loan Amount
₹1 Lakh to ₹3 Crore
Loan Processing Fees
Up to 2%+ GST subject to Min. ₹5000
Loan Tenure
Up to 15 years
Prepayment/Foreclosure Charges
  • Floating rate loans: Nil
  • Fixed rate loans: 2% (plus GST) charge on the outstanding amount being foreclosed/prepaid
  • Default Charges
    24% p.a. + taxes
    Repayment Instrument Dishonour Charges
    ₹500 per bounce plus applicable taxes
    Stamp Duty
    At actuals (as per state)
    Hidden Charges
    Nil

    Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf

    *T&C Apply

    • Unsecured Education Loan
    • Partially Secured Education Loan 
    • Secured Education Loan
       

    Get Funds Quickly With
    Minimal
    Documentation

    1

    Click 'Apply Now' Fill out the online form to start your loan application.

    2

    Upload Documents Provide your KYC documents to complete the verification.

    3

    Get Funds Get the loan amount
    disbursed to your bank account.

    Happy Customers, Happy Us

    Get exclusive access to simplified
    Personal Finance
    Information at
    Poonawalla Fincorp’s FinHub

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    Frequently Asked Questions

    The Education Loan can be used for higher education in India and abroad across various courses 

    Yes, you are eligible for a full education loan for your higher studies with Poonawalla Fincorp. We provide a loan amount of up to ₹3 Crore for pursuing higher education abroad.

    The loan amount offered by Poonawalla Fincorp for higher education is as follows: 

    1. Domestic Studies – Up to ₹50 Lakh

    2. International Studies

    - Up to ₹3 Crore with collateral 

    - Up to INR 1 Cr. without collateral 

    Yes, this education loan will cover the entire Cost of Education including Tuition Fee, Living Expenses, Travel expense, Laptop, Study Material, Insurance and other related expenses. 

    Yes, moratorium during the course period + up to 1 year grace for principal/interest repayment can be availed, this option will be extended based on the Institute of selection.

    Parents, Parents-in-law, Siblings, Spouse, First Cousins, Parents' Siblings can be your co-applicants. You can add up to 5 co-applicants on your education loan.

    We have a complete digital application process; you can apply for a loan online and a PFL representative will contact you shortly.

    Yes, you can get a Pre-approved Sanction Letter based on your entrance test scores or your Co-applicant profile.

    Tenure of up to 15 years including course period and moratorium is available.