Educational Loan
An education loan helps students and parents finance higher education in India or abroad. Whether for tuition fees, accommodation, books, or travel expenses, it can provide the funds you need. Interest rates and repayment options vary by lender. We help you compare education loan offers from banks and NBFCs. Approval and timelines are decided by the lender.
Features & Benefits
• Loan Amount: Loan amount depends on the course, institution and your eligibility. Limits are decided by the lender.
• Flexible Repayment: Repayment period and any moratorium (repayment holiday) are set by the lender.
• Student Loan Rates: Many lenders offer education-loan rates that differ from other loans. Rates are set by the lender.
• Collateral-Free Loans: Some lenders may offer education loans without collateral for certain amounts. Collateral rules are decided by the lender.
• Covers All Expenses: Tuition fees, hostel, books, travel, and other costs.
• Tax Benefits: Interest paid may qualify for deduction under Section 80E of the Income Tax Act, subject to conditions and the tax regime you choose.
Why Do You Need an Education Loan?
• Higher Education: Pursue undergraduate, postgraduate, or vocational courses.
• Study Abroad: Cover tuition and living expenses for international education.
• Financial Independence: Reduce the burden on parents and guardians.
• Career Growth: Invest in quality education for better job prospects.
• Government Subsidies: Avail benefits under various education loan schemes.
Eligibility Criteria
• Nationality: Indian citizen pursuing higher education in India or abroad.
• Age: 18 to 35 years.
• Admission Proof: Must have secured admission in a recognised institution.
• Co-Applicant: A parent or guardian is required as a co-borrower.
• CIBIL Score: 650+ preferred for lower interest rates.
• Income Criteria: The co-borrower must have a stable income for repayment assurance.
Documents Required
• KYC Documents: Aadhaar Card and PAN Card of the student and co-borrower.
• Admission Letter: Proof of admission from the institution.
• Fee Structure: Breakdown of total educational expenses.
• Academic Records: Mark sheets of 10th, 12th, or previous degree.
• Income Proof: Salary slips or ITR of the co-borrower (parent/guardian).
• Bank Statements: Last 6 months’ statements of the co-borrower.
Why Choose Us?
• Guided Loan Selection – Assistance comparing offers from multiple lenders.
• Guided Processing – We help with your application. Approval and disbursal are decided by the lender.
• Lower Interest Rates – Terms depend on the lender.
• Repayment Guidance – Clear information on repayment and the moratorium period.
• Transparent Process – We explain the lender’s fees and charges before you apply.
Rovian is a facilitator and does not lend money. Loan approval, interest rate, fees and timelines are decided only by the lender, after its own credit assessment. This is not an offer of credit. Please read the lender’s terms before you apply.
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