How To Get A Student Loan In India?

By Jyothi Swaroop Makena

07th August, 2023

A loan is a term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured. Students can secure education loans to fund for their education.


“Here's everything you need to know about getting a student loan in india"

Various banks in India offer student loans for Indian nationals. The banks include the State Bank of India, Bank of Baroda, HDFC bank, etc. For the sake of an example, let's talk about SBI Education Loan.

Banks Offering Student Loans

Repayment Period Of SBI Loan

There is a Repayment period of up to 15 years after the course period. There is also 12 months of repayment holiday.

For loans upto Rs. 20 lacs, there is no processing charges. For loans above Rs. 20 lacs, the processing charges are Rs. 10,000 (plus taxes).

Processing Charges


Upto Rs. 7.5 Lacs, only Parent/ Guardian is eligible to be a co-borrower. No Collateral Security or third-party guarantee is available. For loans above Rs. 7.5 Lacs, Parent/ Guardian can be a co-borrower and tangible collateral security is allowed.

The accrued interest during the moratorium period and course period is added to the principle and repayment is fixed in Equated Monthly Installments (EMI). The EMI is different for different banks.