Make college memories that last a lot longer than your student loan payments.
  • Kerala Education Loan

    Kerala is one the most sought-after hub for students in India who wish to pursue education. There are various institutes in Kerala that offer various courses in engineering, research and medical sciences.

    To ensure that the student can meet the cost required to complete their education in Kerala, there are various NBFCs and banks in India which offer loans at affordable interest rates.

    Banks offering education loans in Kerala:

    Some of the leading banks that offer education loans in Kerala are as listed below:

    Bank Interest Rates (p.a.) Tenure
    Kerala Gramin Bank 12.60% onwards Course period + six months one year after getting job whichever is earlier
    Axis Bank Up to 15% -
    Federal Bank 10.05% onwards Course period + 15 years + one year
    SBI 7.00% onwards -
    Bank of Baroda 11.00% onwards -

    Expenses covered by an Educational Loan

    The following expenses are covered under an educational loan:

    • Examination, library, laboratory fees.
    • Expenses for travelling if studying overseas
    • Fees for college and hostel.
    • Caution deposit
    • Cost incurred for uniforms, books, etc.
    • Cost of laptop or computer.
    • Other expenses.

    Courses covered under an educational loan

    • Undergraduate degrees
    • Postgraduate degrees
    • Doctorate programmes
    • Diploma courses
    • Vocational courses
    • Skill development courses

    Eligibility criteria

    • The applicant should be aged 18 years and above.
    • The applicant should be a citizen of India.

    Documents required to apply for an education loan in Canada

    Given below is the list of documents you will have to submit while applying for an education loan to study in Canada:

    • A duly filled loan application form.
    • Entrance exams results if applicable.
    • Qualifying exams marksheets.
    • Entrance test results.
    • Letter of Admission.
    • Statement of cost of education.
    • Passport size photographs of the applicant.
    • PAN Cards of both the candidate and the parent/guardian.
    • Aadhaar Card of both the candidate and the parent/guardian.
    • Proof of identity such as PAN, Passport, etc.
    • Proof of address such as Adhaar, utility bill, etc.
    • Statement of your bank account for the past six months.
    • IT returns of the parents/guardians for the past two years.
    • Any other documents required by the lender.

    How to apply

    You can visit the official website of the bank from which you wish to apply for an education loan. You will have to submit the necessary documents, including the duly signed application form. A representative from the bank will help you with the application process.

    You can also visit the nearest branch of the bank of your choice and apply for an education loan. There you will have to submit the necessary documents along with the duly signed application form.

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