Education Loan Compare
Find the right lender, faster
Compare secured and unsecured student loan lenders side by side before you commit — interest rates, collateral, moratorium, and fees.
Secured Loans
Backed by collateral (property/fixed deposit). Typically lower interest rates, higher loan amounts, offered by banks like SBI and ICICI.
Unsecured Loans
No collateral required. Faster approval, based on academic profile and co-signer, offered by NBFCs like Avanse, HDFC Credila, and Prodigy Finance.
Filter by loan type and destination
Rates and terms change frequently — always confirm current figures directly with the lender before applying.
Data as of 2025 — source: bank/NBFC websites & RBI guidelines
SBI Scholar Loan
Best for: Best rate; PSU jobs / premier institutes
8.75% p.a.
None below ₹7.5L
Course + 6 months
Nil
₹1.5 Cr
Up to 15 years
SBI Global Ed-Vantage
Best for: Abroad studies with collateral
10.90% p.a.
Required
Course + 6 months
Nil
₹1.5 Cr
Up to 15 years
HDFC Credila
Best for: Flexible collateral norms; fast disbursal
9.50%–12% p.a.
Flexible
Course + 12 months
₹10,000
₹1 Cr
Up to 12 years
Axis Bank
Best for: Mid-tier option; branch network
10.50% p.a.
Required above ₹40L
Course + 6 months
₹15,000
₹75 L
Up to 15 years
ICICI Bank
Best for: Wide branch presence; portal-based
10.75% p.a.
Required above ₹40L
Course + 6 months
₹20,000
₹1 Cr
Up to 15 years
Avanse Financial Services
Best for: No collateral for most; tier-2 colleges
11%–13% p.a.
None
Course + 6 months
₹25,000
₹75 L
Up to 10 years
InCred Finance
Best for: Fast online processing; no property
11%–14% p.a.
None
Course + 6 months
₹20,000
₹75 L
Up to 10 years
MPOWER Financing
Best for: US/Canada; no cosigner; international students
12%–14% p.a.
None
In-school deferment
$150
$100K
Up to 10 years
Prodigy Finance
Best for: Top MBA/MS globally; no cosigner
13%–15% p.a.
None
6 months post-grad
~1% of loan
$220K
Up to 20 years
Sallie Mae
Best for: US citizens / permanent residents only
4%–14% p.a. (variable)
None
Interest-only in-school
None
$200K
Up to 15 years
Estimate your monthly repayment
Change the loan amount, interest rate, repayment period, and moratorium to see how your EMI and total interest shift.
Monthly EMI
₹53,974
Total Payable
₹64,76,880
Total Interest
₹24,76,880
Principal
₹40,00,000
Interest % of Total
38.2%
Tax Benefit (80E)/yr
₹2,47,688
Interest During Moratorium
₹6,30,000
Estimate only — actual EMI depends on the lender's exact rate, processing fee, and whether moratorium interest is capitalized into the principal.
Detailed bank information
Website, helpline, required documents, eligibility, disbursement time, and prepayment terms for major lenders.
Website
sbi.co.in
Helpline
1800-11-2211
Documents Required
Admission letter, ID, income proof, academic records, collateral docs
Eligibility
Admitted to premier institutes (IIT/IIM/NIT etc.)
Disbursement Time
15–30 days
Prepayment Penalty
Nil after 1 year
Notes
0.5% concession for female students; interest subsidy for EWS category.
Section 80E — interest deduction guide
How much of your education loan interest you can deduct from taxable income, and for how long.
Who can claim?
Individual borrower only — not HUF or corporate entities.
Loan from
A financial institution or an approved charitable institution.
Deduction amount
100% of interest paid — there is no upper limit.
Max tenure
8 consecutive years from the year repayment starts.
Principal deduction?
No — only the interest component qualifies under 80E.
For whose education?
Self, spouse, children, or a student for whom you are the legal guardian.
Income tax slab saved
Deduction × your tax slab — e.g. ₹1L interest at 30% slab saves ₹30K.
Documents needed
Certificate from the bank showing interest paid during the financial year.
From which year?
The year repayment starts — moratorium years do not count.
NBFC eligible?
Only RBI-registered NBFCs — confirm the lender is approved before assuming eligibility.