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
- Instant Sanction for Select Institutes
- Unsecured loan up to ₹1 Cr
- Flexible Repayment
- Covers 2000+ Institutes across wide range of courses
- Competitive Interest Rate
- 100% Digital Process
- Quick Approval
- Minimal Documentation
- Zero Hidden Charges
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 | From ₹1 Lakh to ₹3 Crore |
| Loan Processing Fees | Up to 2%+ GST subject to Min. ₹5000 |
| Maximum Tenure | Up to 15 years |
| Foreclosure/Prepayment Charges |
Floating rate loans: Nil Fixed rate loans: 2% (plus GST) charge on the outstanding amount being foreclosed/prepaid |
Delayed Penal Charges | Up to 2% per month |
| Cheque/ Direct Debit /Automated Clearing House (ACH) Mandate Dishonour Charge | ₹500/- per Dishonour of Cheque/ Direct Debit /ACH Mandate return per presentation |
| Stamp Duty | At actuals (as per state) |
| Hidden Charges | Nil |
Eligibility Criteria of an Educational Loan
Meet our simple eligibility criteria to qualify:
| Age |
|
| Citizenship | Indian, OCI (Overseas Citizen of India) |
| For Pursuing | Higher education in India, Abroad |
| Study Location |
|
| Loan Amount With Collateral |
|
Co-applicant |
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Documents Required for an Educational Loan
Submit just a few essential documents:
- 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
Types of Education Loan
1. Unsecured Education Loan
2. Partially Secured Education Loan
3. Secured Education Loan
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:
- Domestic Studies – Up to ₹50 Lakh
- 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.
*Terms & Conditions Apply
