Education loans for students in India
Students can fund degree and diploma courses through government-supported schemes and bank education loans. Rules differ by income, institute and amount.
Government-supported schemes
- PM-Vidyalaxmi — collateral-free, guarantor-free loans for merit admissions in listed Quality Higher Educational Institutions. Family income up to ₹8 lakh can get 3% interest subvention on loans up to ₹10 lakh. Apply at pmvidyalaxmi.co.in.
- Central Sector Interest Subsidy (CSIS) — interest subsidy during moratorium for eligible lower-income students under the IBA model scheme.
- Credit Guarantee Fund Scheme for Education Loans (CGFSEL) — government guarantee so banks can lend without collateral up to the scheme limit.
Bank loans
Public sector banks (SBI, PNB, Canara, Bank of Baroda and others) and private banks (ICICI, HDFC, Axis and others) offer education loans for study in India and abroad. Rates are floating and change. Compare the current rate, processing fee and collateral rule on the bank’s own site.
Before you apply
- Admission letter and fee structure
- Income proof and KYC of student and co-applicant
- Confirm whether the institute is on the scheme list
PM-Vidyalaxmi details · Bank loan comparison
Check affordability before borrowing
Estimate total course cost including living expenses, compare moratorium-period interest and repayment after graduation, and request a written sanction letter. Ask whether interest capitalizes during study; verify any subsidy with its official portal.
Practical checklist
- Identify your exact course, exam or objective, since requirements differ.
- Check primary information from the relevant official organization; note its publication date.
- Save documents or examples you need and verify unfamiliar claims before acting.
- Use the PrimePupil contact form to flag unclear, outdated or incorrect information.
Update reminder: This page is educational guidance. Eligibility, examination formats and scheme terms can change; the official announcement takes precedence.
This is general information for study planning. It is not financial advice, not an official notice, and not independently verified. Confirm rates, eligibility and deadlines on the official portal or bank before you apply.