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About Education Loan

Education loan is offered by leading banks in India to help students achieve their academic dreams. Education loan Interest rates start from 7.30% p.a. with loan tenures of up to 15 years. Education loans are offered for higher education in both India and abroad. Education is very important for every child, you can avail education loan in Jaipur at a very low-interest rate.  Our Education loan agency in Jaipur will guide you about education loans in Jaipur, we have experienced education loan agents in Jaipur who guide you and help you to avail of loans in Jaipur.

What courses are eligible for an education loan will be decided by the lender. You can get an education loan in Jaipur for studies starting from Nursery. For higher studies, you can get a loan for full-time as well as part-time courses, and loans for working professionals.

In the knowledge economy we live in today, education plays a pivotal role. Education helps one think, it helps one form and fortify new ideas and build upon them to give back to the world.

With an Munafawala Education Loan you can enjoy a host of benefits such as simple documentation, quick loan disbursal, tax benefit u/s 80(E), long repayment tenure, etc. Find out more about the features and benefits of Student Loan in India, below.

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Student Loan

100% education finance now at your doorstep!! You can also pay your easy repayment from abroad also. Customized education loan solution as per your needs.

Foreign Education Loan

Apply now for best education loan with Munafawala-Loan Company. 2000+ happy customers who are granted for education loan. Instant response from our advisor.

Employer Education

To get Education Loan, apply online and check your eligibility, for flexi EMI repay and you can also compare Munafawala education loan with our compare table with others.

Certificate Courses

Munafawala is one of the best loan company to provide variation in loan products.For more detail you can check our loan products. Get a student loan upto 10lakhs and get higher education..

Compare Top Education Loan Offers 2021

Education Loan SchemesInterest RateLoan AmountProcessing Fees
PNB7.30% onwardsUp to 15 Lakhs1% of loan amount
SBI7.97% p.a. – 10.05% p.a.Above Rs. 20 LakhRs.10,000 + tax
Axis13.70% to 15.20%Up to 7.5 LakhNil to Rs.15,000 + tax
Bank of Baroda8.25% to 10%*Up to 4 Lakh and above1% of loan amount up to Rs.10,000
HDFCFor preferential rates contact HDFCMax AprUp to 1.5% of loan amount + tax
Tata Capital10.99% onwardsUp to 30 LakhUp to 2.75% of loan amount + tax
Union Bank of India6.90% onwardsNeed-based financeNil for Indian students 0.50% of loan amount + GST for NRI students
Bank of India9.10% onwardsFor courses in India: Up to Rs.10 lakh, For courses abroad: Up to Rs.20 lakhNil for courses in India Rs.5,000 + other fees for study abroad
Kotak Mahindra BankUp to 16%For courses in India: Up to Rs.10 lakh, For courses abroad: Up to Rs.20 lakhContact the bank
ICICI BankContact the bankFor courses in India: Up to Rs.50 lakh, For courses abroad: Up to Rs.1 croreContact the bank
Federal Bank10.05% onwardsFor courses in India: Up to Rs.10 lakh, For courses abroad: Up to Rs.20 lakhContact the bank

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Features of Education Loan

All loans are not created equal, personal loan has become a great option for people to use.

Amount Limits

Our loan sanction describes the total sum that one is authorized to Munafawala on a line of credit, credit card, personal loan, or mortgage.

Loan Tenure

The repayment tenure on your personal loan affects the equated monthly instalment (EMI) amount and the total interest payable.

Wider Options

Our wider loan window increases the chances of business loan approval and provides you the funds needed for growth and expansion of your venture.

Tax Rebate

If you have taken an education loan and are repaying the same, then the interest paid on that education loan provider in Jaipur is allowed as a deduction from the total income under Section 80E.

Education Loan Eligibility

Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.


Maximum age of applicant at loan maturity: 60 years


Minimum Net Monthly Income: Rs 15,000

Credit Rating

Applicant should have the bank specified credit score.


  • Indian citizens
  • Non-Indian Residents (NRIs)
  • Overseas Citizens of India (OCI)
  • Persons of Indian Origin (PIOs)
  • Students born to Indian parents abroad and wish to study in India


  • Undergraduate programs
  • Postgraduate programs
  • Doctoral courses and PhDs
  • Certificate courses with 6 months or longer duration
  • Job-oriented courses
  • Technical/diploma/professional courses


  • Recognized institutions and government colleges
  • Private institutes aided by government
  • Professional institutions
  • International colleges and universities

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

Yes, the Reserve Bank of India’s moratorium on retail loans, due to people undergoing financial challenges due to the Covid-19 pandemic, is applicable to education loans as well. The moratorium on Equated Monthly Instalments (EMIs) could be availed from March 2021 to August 2021.

No, usually education loans for courses in India do not offer the same amount as for comparable level courses abroad. Education loans offer higher amounts for courses abroad as fees and other expenses may be higher there than for courses in India (which also depends on the educational institution).

Almost all education loans from banks and other lenders require a collateral which can be fixed deposits, property, shares, bonds, etc. However, you can still avail an education loan without having to give any collateral. This can be achieved through the Credit Guarantee Fund for Education Loan (CGFEL) Schemes which covers a collateral-free loan of up to Rs.7.5 lakh. This is only for education loan calculator dispersed under the Model Education Loan Scheme of Indian Banks’ Association (IBA). To avail this, you have to apply for an education loan under this scheme through a scheduled commercial bank. You don’t need to provide security or collateral for amounts of up to Rs.7.5 lakh but anything above that will require a collateral.

You can always avail a loan against a fixed deposit, as per the terms and conditions of the lender. However, there are certain banks, such as ICICI, which provide specifically education loan against fixed deposit.

For courses abroad, education loans are typically paid directly to the educational institution in the local currency of that country.

The moratorium period on education loan interest rate in jaipur differ from lender to lender. However, it is usually until the borrower gets employed or for up to 1 year of the course being completed, whichever is earlier. If you choose to take a sabbatical and want an extension of your moratorium, it would depend on the bank whether to grant it or not, so it is best to have a discussion about this with the lender.

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