Education Loan

An education loan that keeps up with the admission deadline.

Tuition, hostel, travel and living costs for study in India or abroad — matched across lenders who understand course-specific funding, moratorium periods and co-applicant requirements.

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Up to ₹ 5Cr

Loan amount

8.5%+

Starting rate

Course + 1 Yr

Typical moratorium

15 Yrs

Max repayment tenure

Why choose this with us

Benefits built around the borrower.

A short list of what actually changes when you apply through Financeway instead of walking into a branch.

Covers tuition & living costs

Funds tuition fees, hostel, books, travel and other course-related expenses in one facility.

Moratorium during study

Repayment typically starts after course completion plus a grace period, easing pressure during studies.

Collateral-free up to a limit

Many lenders offer unsecured education loans up to a threshold amount, especially for premier institutions.

India & abroad, both covered

Options span domestic colleges as well as international universities across popular study destinations.

Doorstep documentation

Co-applicant income proof and admission documents collected from your home.

Tax benefit under Section 80E

Interest paid on education loans qualifies for deduction under Section 80E for up to 8 years.

Loan Instrument

See your EMI before you apply.

Move the sliders — the split between principal and interest updates in real time.

Loan Amount ₹1,200,000

Interest Rate (p.a.) 10.75%

Tenure 84 months

Apply at this EMI →

Estimated Monthly EMI

₹21,494

● Principal
₹10,00,000

● Interest
₹2,89,640

Education Loan

What you'll need

Keep these ready to speed up your application.

Documents Required

Keep these ready — our representative collects them at your doorstep.

Admission letter from the institution
Fee structure / cost of study document
Student's & co-applicant's PAN & Aadhaar
Co-applicant's income proof (salary slips / ITR)
Last 6 months' bank statement of co-applicant
Academic records (mark sheets, entrance scores)

Eligibility Criteria

A quick self-check before you apply.

Confirmed admission to a recognised institution/course
Co-applicant (usually parent/guardian) with stable income
Indian national (for domestic and most study-abroad lenders)
Credit score of 700+ for co-applicant preferred
Collateral required beyond a certain loan amount (varies by lender)

Questions

Frequently asked questions

Yes, almost all lenders require a co-applicant, typically a parent or guardian, since the student usually has no independent income at the time of borrowing.

Most lenders offer a moratorium covering the course duration plus 6–12 months after completion, before regular EMIs begin.

Not always — many lenders offer collateral-free loans up to a certain amount (commonly ₹7.5–20 lakh depending on the lender), beyond which property or a fixed deposit may be required.

Yes, education loans cover both domestic and international study, though international loans may carry slightly different rate slabs and documentation depending on the destination country.