Education Loan

Education Loan

An FTM education loan covers the full cost of study — tuition and examination fees, hostel and living expenses, laptop, books, insurance and airfare for overseas programmes. We arrange the facility from public sector banks, private banks and NBFCs, and place your file with the lender whose policy actually fits the institute and country you are going to.

Repayment starts only after the moratorium: the course period plus six to twelve months, so the EMI begins once the student is earning. Loans under the government credit guarantee schemes need no collateral up to ₹7.5 Lac, and we handle the subsidy paperwork where the family is eligible.

At a glance

What the facility gives you

• Covers tuition, hostel, examination, library and laboratory fees
• Travel, insurance, laptop and equipment costs included in the project cost
• Collateral-free up to ₹7.5 Lac under CGFSEL
• Interest subsidy assistance for eligible income groups
• Tax deduction on interest paid under Section 80E
• Sanction letters for visa and I-20 processing arranged on priority

Who is eligible

• Indian national, 16 to 35 years of age
• Confirmed admission to a recognised institute in India or abroad
• Co-applicant — parent, guardian, spouse or close relative with a steady income
• Consistent academic record; entrance scores where the course requires them
• Collateral of adequate value for loans above the collateral-free limit

Documents required

• Admission / offer letter and institute fee structure
• Mark sheets of 10th, 12th and the last qualifying degree
• Entrance test score card (GRE / GMAT / IELTS / TOEFL / JEE / NEET as applicable)
• KYC of student and co-applicant — PAN, Aadhaar, passport, photographs
• Co-applicant income proof — salary slips, Form 16 or last 2 years ITR
• Last 6 months bank statement of the co-applicant
• Property or collateral papers where security is offered

Frequently asked questions