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

Get a Quick Education Loan Online

Fulfil your dream of higher education within India and Abroad with the right financial support. Our Education Loans cover all expenses including Tuition Fees, Living Expenses, Travel Expenses, Insurance, Study materials and any other related expenses.  

Get up to ₹3 Crore at competitive interest rates with online application, minimal documentation, quick approval, and zero hidden charges. Apply now

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

Apply for a Education Loan in Just 3 Steps

Step1

Click on “Apply Now”

Tap the “Apply Now”button to initiate your application.

Step2

Enter Details

Enter your DOB, PAN card number, monthly income, and residential details.

Step3

Upload Documents

Upload the necessary documents for quicker approval.

On successful verification, the loan amount will be disbursed into your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria of an Educational Loan

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

Documents Required for an Educational Loan

Submit a few necessary documents to successfully apply for a Personal 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

Education Loan Interest Rate and Charges

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

    Types of Education Loan

    • 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

    rightArrow
    rightArrow

    Frequently Asked Questions

    What are the courses for which I can get an Education Loan?

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

    Can I get a 100% Education Loan for study abroad?

    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.

    What is the loan amount offered for an Education Loan by Poonawalla Fincorp?

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

    • Domestic Studies – Up to ₹50 Lakh
    • International Studies – 
      • Up to ₹3 Crore with collateral 
      • Up to INR 1 Cr. without collateral 
    Will this Education Loan cover all my expenses?

    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. 

    Is there a moratorium period that can be availed for Education Loan?

    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.  

    Who can be a co-applicant on my education loan?

    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.

    Do I have to visit a PFL Branch to apply for an education loan?

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

    Can I get a sanction letter before I have finalized my study institute?

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

    What is the maximum tenure available for PFL education loan?

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