Loan for Educations
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Unsecured Student Loan up to ₹85 Lakhs*
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Pre-Admission Loan Sanction
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Covers All Expenses for Education
Get Education Loan Up to ₹ 2 Crore*
We, at Tata Capital align with Tata Group’s commitment to Education. We believe that education is the key to a nation’s progress & a brighter future. Thereby, quality education should be accessible to all socio – economic backgrounds. With a thorough understanding on the transformative power of higher education, Tata Capital is now introducing Education Loans to enable students to pursue higher education, both in India & Overseas, thereby facilitating their personal and professional growth.
We are here to empower your dreams with our tailored education loan solutions.
Disclaimer: Education Loans are at the sole discretion of Tata Capital Limited (TCL).
Loan amount offered
Upto ₹ 85 Lakhs unsecured
Upto ₹ 200 Lakhs secured
Loan tenure
Upto 13 Years
Interest rate
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9.50* to 18%
Education Loan Interest Rates & Charges
Education Loan – TCL Retail Prime Lending Rates (TCL RPLR)
Effective From
September 1st 2024
May 1st 2024
TCL RPLR
11.50%
11.30%
Note: The above PLR will be applicable for the cases disbursed on or after 1st May 2024.
Effective From
March 11th 2024
December 22nd 2023
TCL RPLR
15.25%
15.00%
Note: The above PLR will be applicable for the cases disbursed before 1st May 2024.
Penal Charges
Penal Charges, if any, in case of delayed payments
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3% per month on overdue amount
Dishonour of any cheque/
payment instruments
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These are those charges that are levied in case of an EMI bounce per instance. In other words, these charges are levied when you miss a loan EMI payment due to inadequate funds in your bank account. At Tata Capital, you’ll be required to pay Rs. 600 per instrument per instance.
Mandate Rejection Service Charge
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Charges will be levied if a new mandate form is not registered within 30 days from the date of rejection of the previous mandate form by the borrower’s bank for any reason whatsoever. Tata Capital charges a nominal amount of Rs. 450 + GST.
Other Charges
Foreclosure Charges, if applicable
NA
Charges for switching of loans from floating to fixed rate and vice versa
NA
Part Payment Charges
Payment Instruments Swapping Charges
Cancellation Charges
Duplicate Repayment Schedule
Duplicate NOC
Outstation Collection Charges
Statement of Account (SOA)
Foreclosure Letter
Processing Fee
For issue of duplicate copy of agreement
List of Documents
(LOD) Statement charges
Provisional Interest certificate charges
Final Interest certificate charges
Other Statement request charges
ROC Charges
Legal and Technical Charges (incase of secured)
Document retrieval charges (incase of secured)
CERSAI Charges (Non Refundable)
NA
Rs. 550/- per swap instance
NA
Rs. 550/-
Rs. 550/-
At Actuals
Customer Portal – Nil
Branch walk-in – Rs. 250/-
Nil
Upto 2% + applicable taxes
Nil
Nil
Nil
Nil
Nil
Nil
RS. 5000/-
Rs. 5,000/-
For loans upto ₹ 5 Lacs - ₹ 50 (per filing/modification)
For loans above ₹ 5 Lacs - ₹ 100 (per filing/modification)
Or such other charges as may be stipulated by Central Registry from time to time
Education Loan Eligibility
Factor
Nationality
Age
Qualification
To pursue course
University applied to
Basis for loan sanction
Loan Amount
Co-borrower
Security
Eligibility
Indian
18 to 35 years
Completed 10+2/diploma
Graduation/Postgraduate degree or a PG diploma in professional education
Listed, recognized, and accredited institutes in India and abroad
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Pre-admission sanction
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Entrance exam scores like GRE, GMAT etc.
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12th/HSC results
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Confirmed admission
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Up to Rs. 85 lakhs unsecured
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Up to Rs. 2 crores secured
Father, mother, brother, sister, spouse (husband/wife), grandparents, parents-in-law, maternal/paternal uncle
Property, fixed deposit, Existing Tata Capital home loan for cross collateral.
Grow Your Vision
Documents Required for Education Loan
Salaried People:
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Photograph
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Photo Identity Proof
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A copy of your Voter ID / Passport / Driving License / Aadhaar Card
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Permanent Account Number OR Form 60 (wherever applicable)
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Address Proof:
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A copy of your Voter ID / Passport / Driving License / Aadhaar Card
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Signature Verification
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Income Proof- Submit Form 16 for the last 2 years and a copy of your bank statements for the last 6 months
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Salary Slips
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A Copy of your Salary slips for the last three months
Self Employed
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Photograph
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Photo Identity Proof
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A copy of your Voter ID / Passport / Driving License / Aadhaar Card
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Permanent Account Number OR Form 60 (wherever applicable)
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Address Proof- A copy of your Voter ID / Passport / Driving License / Aadhaar Card
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Signature Verification
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Income Proof
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Income Tax Return, Profit and Loss, Balance Sheet & a copy of your bank statements for the last 6 months
Features & Benefits of Education Loan
Tata Capital’s education loan in India is designed to ease the financial load of pursuing higher studies. Here’s what makes it a reliable choice:
1
High Loan Amount
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Get ample funding to cover tuition, accommodation, travel, and other academic costs.
2
Attractive Interest Rates
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Benefit from competitive rates that make repayment easier for students and families.
3
Pre-Admission Sanction
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Secure your loan even before you receive admission confirmation.
4
No Margin Money Required
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Cover the entire cost of education without needing to contribute from your pocket.
7
Apply with a Guardian
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Students can strengthen their application by applying jointly with a parent or guardian.
5
Covers Various Courses
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Apply for funding across undergraduate, postgraduate, professional, or vocational programs.
6
Easy Disbursal
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Enjoy a quick and efficient loan disbursal process to meet payment deadlines without stress.
Why Should I Apply for an Education Loan at Tata Capital?
1
Affordable & Quality Education
Don't let tuition fees or educational expenses hold you back from pursuing your dreams. Our quality education must be accessible to all, regardless of financial constraints.
2
Flexible Repayment Options
We provide Education Loan Repayment Options where you can start paying after completing your education, so that you can focus on studies without any immediate financial burden.
3
Competitive Interest Rates
Enjoy competitive Education Loan Interest Rates that make borrowing affordable and manageable. We understand the importance of keeping your financial burden low, while you invest in your education.
4
No Collateral Required
With our unsecured education loans (i.e., Education Loan without Collateral), you don't need to worry about providing collateral. We want to help your dreams become a reality, without any additional burden , with a non-collateral loan.
5
Quick Hassle-free Process
Our Education Loan Application process is short and simple. We value your time and to ensure that your experience is hassle-free, we have a dedicated team to assist you at every step.
6
Expert Financial Guidance
Our financial experts are equipped to provide you with personalized guidance and support. We'll help you make informed decisions about your education financing, ensuring that you choose the right loan for your needs.
Courses Eligible for Education Loan from Tata Capital
At Tata Capital, we offer Student Loans (Secured & Unsecured) for courses in India and Overseas. You can find the list of courses eligible for Education Loan from Tata Capital below.
Courses Covered in India & Overseas
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Graduation/post-graduation degree from recognised universities
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Executive & other courses from reputed universities
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PhD
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Between the age of 18- 45 years, pursuing Undergraduate / Postgraduate Program, Executive and other courses in India or Overseas.
FAQs on Loan for Education
1. Am I eligible for an Education Loan at Tata Capital?
Yes, you are -
If you are an Indian national
Between the age of 18- 45 years, pursuing Undergraduate Postgraduate Program, Executive MBA or other Vocational courses
A student with proven academic record
2. What expenses does an education loan cover?
Tuition fee, Living Expenses: (Rent & Utility, Food, Grocery and Local Conveyance), Miscellaneous Expenses: Laboratory Fees, Purchase of books, Purchase of Computers /Laptops, Travel fare
3. Who can be my co-applicant?
Co-applicant(s) may be any of your following immediate family - Father/ Mother/ Brother/ Sister/ Spouse. You could also have maternal or paternal (uncle/aunt) Or any Blood Relatives, as your Education Loan Co-applicant.
4. What process do I follow for repayment of my loan?
If you apply for a Student Loan with Tata Capital, you can repay basis plans that are available & designed specially to meet your unique needs. Our repayment tenor starts 1 year after you have completed your education and you get 12 months and up to 120 months to repay in equal monthly instalments. You can pay the EMIs through Auto Debit or online, by accessing our website from anywhere, anytime. You can also drop a cheque at the nearest Tata Capital branch. You have complete control over your student loan repayment.
5. Can I prepay the Education Loan? Are there any prepayment charges?
Yes, you can prepay their education loans before the completion of the tenure. There are No Prepayment charges
6. Who can apply for the ed loan?
To apply for an education loan, you must-
Be an Indian national
Be between 18 and 35 years of age
Have completed 10+2/diploma
Be pursuing a Graduation, Postgraduate degree, or PG diploma in professional education
Have applied to accredited institutes in India or abroad
7. What are the benefits of taking an education loan from Tata Capital?
Tata Capital offers flexible repayment options, competitive interest rates, and no collateral requirements. With unsecured loans up to Rs. 85 lakhs, you can cover all your educational expenses, including living costs, travel expenses, and purchasing books and a laptop.
8. What are the courses for which one can avail a student Loan?
You can apply for an education loan for-
Graduation/post-graduation degrees from recognised universities
Executive and other courses from reputable universities
PhD programs
Undergraduate, postgraduate, executive, and vocational courses in India or overseas for students aged 18 to 45
9. Can I apply for an Education Loan if I do not have a co-applicant with income?
You must have a co-applicant with a stable income to apply for an education loan. This requirement ensures financial security and improves the chances of loan approval.
10. Can I get a 100% education Loans to study abroad?
At Tata Capital, we offer 100% financing. This means the loan can cover the entire cost of your education, making it easier to pursue international studies.
11. What is the minimum salary requirement to apply for an Education Loan?
The co-applicant must have a regular income. Required financial documents include-
Last three months' salary slips
Last two years' Form 16
ITRs of the last three years
Balance sheets and P&L accounts
Bank statements for the last six months
Proof of business
12. Can I get a student loan without collateral?
Yes, you can get an unsecured loan.
13. Can I get a 100% education loan?
Yes, Tata Capital offers 100% financing for education loans, eliminating the need for margin money. This means you can cover the entire cost of your education, including tuition, living expenses, and other related costs, through their loan offerings
14. Are ED financial loans forgiven?
ED loans are not eligible for forgiveness. Borrowers must repay their student loan as per the agreed schedule. However, repayment terms are flexible, allowing easier management of your financial obligations after completing your education.
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