Personal Loan for Higher Education

Elevate Your Learning. Invest in Your Future. Tailored Personal Loans for Your Education Journey!

Get Your Personal Loan for Higher Education

Education makes a man or a woman, and it is therefore indispensable. Nonetheless, paying for education poses a competitive task as quality education is expensive. Furthermore, in case of desire to study at foreign universities, the expenses can be substantial too.

To make the way to education completely smooth and without any barriers, Grahaan Capital has a study loan of up to ₹40 lakh. In no time you will be able to go through the simple application process to get the study loan abroad and cease to worry about having to finance the higher education!

Personal Loan EMI Calculator

50K 40L
12 84
10.75 40%

Personal Loan Eligibility Criteria for Higher Education

The eligibility criteria for personal loans vary from one lender to another. Qualifying for a personal loan isn’t too difficult, salaried workers can easily obtain a loan from Grahaan Capital for up to Rs 40 lakh, with a minimum interest rate in the market. However, some general rules are usually followed, and they are:

  • Age: The applicant should be between 22 and 58 years.
  • Nationality: The applicant must be an Indian citizen.
  • Salary: At least Rs 15,000 per month. Since you do not need any collateral for a personal loan, banks will take into account your disposable income. They decide on the minimum salary requirement based on factors like the borrower’s credit score, nature of employment, previous relationship with the bank, and so on.
    * In the absence of income proof, women have the facility to assign a guarantor or Form 16 for approval of personal loan.
  • Credit Score: Preferably 685 and above. Your credit score is a major factor in determining your eligibility for a loan. But there is no need to lose hope if your credit score is not good enough. The fact that you are a salaried employee with a stable job can also work in your favour in this regard.
  • Employment Stability: Minimum 1 year of  work experience.
  • Business Stability: Minimum 1 year of  business continuity.
  • Employment Type: Salaried employees working with reputed organizations, MNCs, Private and Public Limited Companies, Govt. organizations, PSUs, and large enterprises.

Documents Required for Higher Education

Documents required for personal loans to establish your identity, income, loan repayment capacity, and place of residence. Our simple documentation process ensures that you don’t deal with a lot of paperwork. You only need to submit a few basic documents, including:

  • Identity Proof: Passport / PAN Card / Voter’s ID / Aadhaar Card / Driving License or any other government-issued ID.
  • Address Proof: Passport / Rent Agreement / Property Purchase Agreement / Utility Bills (not more than 3 months old).
  • Income Proof For Salaried: Salary Slips (last 3 months) and Bank Account Statement (Last 7 months).
  • Income Proof For Self-employed: Previous Years’ ITR / P&L Statement and Balance Sheet / Bank Account Statement(Last 7 months).
  • Business Proof For Self-employed: Business Incorporation Certificate / Professional Degree / Certificate of Practice / Partnership Deed / GST Registration and Filing Documents / MOA & AOA / Shop Act License
Note: The above-mentioned loan documents list is indicative. Additional documents may be required during loan processing.

Personal Loan for Higher Education Interest Rates and Charges

Grahaan Capital offers the lowest personal loan interest rate for applicants for a maximum of 84 months, which means you can get a minimum EMI. Please see below, a detailed list of personal loan interest rates, fees & charges.

Particulars Charges
Personal Loan Interest Rates 10.75%* p.a. onwards
Loan Amount ₹1 Lakh to ₹40 Lakh
Loan Processing Fees Minimum 2% plus applicable taxes
Lowest EMI per month Starting from ₹1,699* per Lakh for 84 months
Loan Tenure 12 – 84 months
Prepayment/Foreclosure Charges 0%* If paid from own sources & 4% If paid from other sources
Default Interest Minimum 3% per month
Repayment Instrument Dishonor Charges Minimum ₹500 per bounce plus applicable taxes
Stamp Duty At actuals (as per state)
* No Other Hidden Charges

Apply Personal Loan Offer for Higher Education within 2 minutes

Frequently Asked Questions (FAQs)

Personal loans typically boast efficient approval processes, especially with online applications. Upon submission of the required documents, approval can be achieved in just 24 hours* or 1 working day*. This swift processing is designed to provide borrowers with timely access to funds, ensuring they can promptly address their higher educational requirements. Quick approval times are advantageous for students who need financial assistance without unnecessary delays.
Personal loans for Higher Education offer flexible tenure options, allowing borrowers to select a repayment period aligned with their financial capacity. With tenures spanning from a few months to several years, borrowers have the flexibility to choose a repayment plan that suits their circumstances. This adaptability ensures that the loan repayment process is manageable and does not impose undue financial strain during the pursuit of higher education.
Personal loans for Higher Education serve a wide range of educational expenses, making them a versatile financial tool. From covering tuition fees and accommodation costs to purchasing study materials and addressing day-to-day living expenses, these loans provide comprehensive financial support. The flexibility in usage caters to the diverse financial needs of borrowers, allowing them to focus on their studies without being hindered by financial constraints.

You can apply for a Higher Education Loan with us quickly and conveniently. All you are required to do is to follow the steps mentioned below:

  • Step 1: Click on the ‘Apply Now’ button.
  • Step 2: Fill in the required details on the loan application form.
  • Step 3: Upload necessary documents.
On successful verification, the loan will be transferred to your bank account.