Education Loan — BazaarBraker

Why pick this loan through BazaarBraker?

Collateral-free loans up to ₹50 lakh for select premier institutes
Pre-admission sanction letters to support your visa application
Moratorium during your course plus 6-12 months after graduation
Tax benefits on interest paid under Section 80E (no upper limit)
Subsidies under Padho Pardesh and CSIS schemes for eligible candidates

Who's eligible?

Each lender sets its own criteria — these are the typical baselines. We'll match you only with lenders whose rules you actually meet.

Indian citizen with confirmed admission to a recognised institute
Co-applicant: parent, spouse, or sibling with stable income
Age between 18 and 35 years
Strong academic record (typically 60% or higher)
For abroad: passport, valid offer letter, and acceptance from a target institute

What you'll need.

Standard documents. Upload once. We share them only with the lender you choose to apply to.

PAN, Aadhaar, and passport (for abroad studies)
Admission letter, fee structure, and course details
Academic transcripts (10th, 12th, and graduation)
Co-applicant's income proof: ITR, salary slips, bank statements
Collateral documents (for loans above ₹7.5 lakh)

Live rates

Indicative rates from our partners.

Rates as of 2025. Your final offer depends on the lender's assessment of your profile.

Lender	Interest rate	Processing fee	Max tenure
SBI	9.15% – 10.75%	₹10,000 flat	15 years
Bank of Baroda	9.25% – 11.00%	Up to 1.00%	15 years
PNB	9.35% – 11.25%	Up to 1.00%	15 years
Axis Bank	13.70% – 15.20%	Up to 2.00%	15 years
ICICI Bank	10.50% – 13.50%	Up to 2.00%	12 years
HDFC Credila	11.85% – 13.50%	Up to 1.00%	14 years
Avanse	11.50% – 14.75%	Up to 1.50%	15 years

* Rates are indicative and subject to change without notice. Final rate depends on credit score, income, and lender's policy.

FAQ

Things people ask.

Quick answers to the questions that come up most often.

You can apply, but final sanction happens only after you provide the admission letter. For abroad applications, many lenders issue a "pre-admission sanction letter" you can submit with your visa application — that gives you leverage at the embassy.

For loans up to ₹7.5 lakh, no collateral is required at most banks. Between ₹7.5L and ₹50L, you may need to pledge property, FDs, or a third-party guarantee. Above ₹50L, collateral is mandatory.

It's a period where you don't pay EMIs — usually the duration of your course plus 6 to 12 months afterwards. Interest continues to accrue, but the principal repayment only starts after the moratorium ends.

Yes. Under Section 80E, the entire interest paid on an education loan is tax-deductible (no upper limit) for 8 years from when repayment starts. The deduction can be claimed by you or the co-applicant.

You'll need to inform the lender. In most cases, the moratorium ends and standard repayment begins immediately. Talk to the lender — many offer restructuring if you have a credible plan.

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