RBL Education Loan - Flexible Financing for Your Education
RBL Bank offers education loans to Indian students for pursuing higher studies in India and abroad. The bank provides competitive interest rates which start at 10.00% p.a., along with quick loan processing and minimal documentation.
It covers tuition fees, living expenses, and other education-related costs. Moreover, repayment options are flexible to make the repayment more manageable after the completion of the course.
Benefits of RBL Education Loan
There are several benefits to getting an RBL education loan. These are as follows:
- You can get up to 100% funding on eligible educational expenses such as tuition, living, travel, and books.
- It is available for both Indian and international studies. Also, it covers a wide range of courses and universities.
- Repayment terms are flexible with a moratorium option for one year after course completion or six months post-job.
- The documentation process is very simple, and you can get secured loans up to Rs.2 crore.
- You can claim a tax deduction on the full interest paid on your education loan under Section 80E.
Eligibility Criteria
In order to apply for an RBL education loan, you must fulfil the given below criteria:
- Indian citizenship
- Confirmed admission to a recognized institution in India or abroad
- Admission to a graduate, postgraduate, or professional course
- Co-applicant must be a parent, guardian, or spouse with annual income of Rs.2.4 lakh
How to Apply for RBL Education Loan
You can either visit the nearest branch of RBL Bank, or you can apply for loan online by following the steps given below:
- Go to the official website of RBL Bank and navigate to the ‘Education Loan’ tab.
- Click on ‘Apply Now’ and fill in the required details such as your name, mobile number, e-mail address, PIN code, and so on.
- Click on ‘Proceed’ and you will get a six-digit OTP on your phone number.
- Fill in the OTP and an RBL Bank representative will call you to ask a few questions regarding your eligibility criteria.
- You will need to complete the application form and submit the documents.
- One your application gets approved; your loan will be sanctioned to you.
Documents Required for RBL Education Loan
Following documents are required for applying the education loan in RBL Bank:
Documents Type | Details |
Identity Proof | |
Address Proof | Utility Bill, Passport, Voter ID, Driving License, Bank Statement |
Academic Records | 10th, 12th, and graduation mark sheets/certificates |
Admission Letter | Official admission/offer letter from the college or university |
Income Proof of Co-applicant | Salary slips, ITR, Form 16, bank statements (last 6–12 months) |
Collateral Documents | Property papers, fixed deposit receipts, etc. (if loan is secured) |
Passport & Visa | Required for studies abroad |
Photographs | Recently clicked passport-size photographs |
Repayment Process of RBL Education Loan
During the moratorium period (course duration plus one year or six months after getting a job), paying interest is optional. If you choose not to pay the interest at this time, then it gets added to the main loan amount, which eventually increases your total repayment.
RBL Bank also offers to repay the loan early by switching to another bank that offers better rates or terms. You can choose a shorter repayment period, which means higher EMIs but faster loan closure. You can also make extra payments anytime to reduce the loan balance and save on interest.
List of Countries Covered Under RBL Education Loan
RBL Bank provides education loans for students who are planning to study in various popular countries around the world. These are as follows:
- Australia
- Canada
- France
- Germany
- Italy
- Ireland
- New Zealand
- Singapore
- Sweden
- Switzerland
- The Netherlands
- United Arab Emirates (Dubai)
- United Kingdom (UK)
- United States (USA)
FAQs on RBL Education Loan
- Is there any processing fee for an RBL education loan?
Yes, there is a processing fee of up to 1% plus GST.
- Does RBL Bank offer education loan for studying in abroad?
Yes, RBL education loans are available for both domestic and international studies.
- Can I get tax benefits on the RBL education loan?
Yes, the interest you paid on the loan is eligible for tax deduction under Section 80E of the Income Tax Act.
- Do I need collateral to get the education loan from RBL Bank?
If you need a loan for more than Rs.4 lakh, then collateral such as property or other assets will be required.
- Can I repay my education loan earlier than the scheduled tenure?
Yes, you can repay your loan early and it does not charge you any prepayment penalty.
Disclaimer
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.