Education Loan Eligibility Criteria, Education Loan Basic Requirements

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Eligibility Criteria

Age Eligibility

There is no specific restriction regarding the age of a student in order to be eligible for an education loan.
Age of joint applicant / co-borrower / guarantor should be minimum 21 years at the time of loan origination and maximum age at the time of loan maturity can be 70 years.

If the student was a minor while the joint applicant / co-borrower / guarantor executed the document for the loan, the bank will obtain a letter of ratification from him/ her upon attaining majority.

Student Eligibility

The student should be an Indian National
The student shall have secured the admission in India or abroad through an entrance test or through merit based selection process

Eligible Courses

India

Post-Graduation Courses: Masters and Ph.D. from accredited institutions.
Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management and Computer Sciences.
Other professional courses such as CA, ICWA, CS, and CFA.
Masters and Diploma Management Programs.
Other courses leading to degree/diploma conducted by colleges/universities approved by UGC / Govt. / AICTE / AIBMS / ICMR, etc.
Regular Degree/Diploma course like aeronautical, pilot training, shipping, nursing or any other discipline approved by Directory General of Civil Aviation / Shipping / Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
Any other course as shall be declared from time-to-time.

Studies abroad

Graduation: Reputed universities.
Post-graduation: MCA, MBA, MS and other courses as shall be declared from time-to-time.
Other courses such as CIMA - London, CPA in USA, CFA, CISA, and other approved courses as shall be declared.
Degree/Diploma course like aeronautical, pilot training, shipping, etc. provided these are recognised by competent regulatory bodies abroad for the purpose of employment in India/abroad.