HOW MUCH EDUCATION LOAN CAN I GET

How Much Education Loan Can I Get

How Much Education Loan Can I Get

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Is It Possible to get a ₹20 Lakh Loan in India for College?

Introduction

Many parents and students are looking at education loans as a means of financing their academic goals due to the rising expense of higher education in India, particularly in disciplines like engineering, medicine, law, and management. How Much Education Loan Can I Get? A frequently asked question is: Is it possible to obtain an education loan of ₹20 lakh to study in India? Yes, however, it depends on a number of variables, including the loan type, whether you provide collateral, your institution and course, and your financial history.

Is it feasible to study in India for ₹20 Lakh?

Yes, if certain requirements are fulfilled, students might receive up to ₹20 lakh or more for studying in India. There are two kinds of education loans available from banks and NBFCs (Non-Banking Financial Companies):

 


  • Loan Without Collateral (Unsecured)


 

  • Without collateral, the majority of banks provide up to ₹7.5 lakh.

  • For prestigious universities, certain NBFCs or private lenders may provide ₹10–15 lakh without collateral.



  1. A loan that is secured (with collateral)



  • Students can receive ₹20 lakh or more if they can provide collateral in the form of real estate or other financial assets.

  • Such loans are frequently provided by commercial organizations like Axis Bank or HDFC Credila, as well as public banks like SBI, PNB, and Canara Bank.


Qualifications for a ₹20 Lakh Loan

The following is what most banks require to be eligible for a ₹20 lakh loan:

  • A letter of admission from an Indian college or university that is recognized.

  • Professional or career-focused courses (such as engineering, medicine, or MBA) are ideal.

  • A parent or guardian who is a co-applicant and has a steady income and strong credit.

  • collateral security, such as a home, LIC policy, or fixed deposit, when requesting a secured loan.

  • All necessary paperwork, including the fee schedule, KYC information, and proof of income, is included in How Much Education Loan Can I Get.


Rates of Interest and Repayment

  • Public banks: between 8.5% and 10.5%

  • 10% to 13% are private banks and NBFCs.

  • Usually, repayment begins six months to a year after the course is over.

  • Loan term: flexible EMIs for up to 15 years.


Ways to Increase the Chance of Loan Approval

  • Select reputable universities that have been sanctioned by the government, such as IITs, NITs, and IIMs.

  • Provide collateral to lower bank risk and increase the likelihood of approval.

  • Make sure all the documents are correct and apply as soon as possible.

  • Apply to several banks at once by using the Vidya Lakshmi Portal.

  • Keep both the applicant's and the co-applicant's credit histories spotless.


Conclusion

It is possible to get a ₹20 lakh education loan in 2025 for further education in India, particularly if you are enrolled in a reputable College or apply for a secured loan. How Much Education Loan Can I Get? You can obtain the money required to pursue your ideal course without sacrificing quality if you have the right paperwork, a helpful co-applicant, and a carefully thought-out financial strategy.

Whether you choose to study engineering, medicine, or an MBA, knowing your eligibility and getting ready early will guarantee that you have the money to devote fully to your academic path.

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