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About Indian Bank Education Loan :

Indian Bank established on 15 August 1907 and their headquarters in Chennai, India. Indian Bank provides low interest rates on education loans starting from 8.50 percent. The maximum tenure of indian bank education loan is 15 years. It is the most preferred bank by all kinds of people for any financial service regarding education.

High education is extremely important for a high paying job. Education helps in the overall development of an individual and provides a great opportunity to live a successful life. Indian bank provides education loans to desired students to fulfill their dreams at a convenient interest rate. They can repay the loan only after they get permanently employed within tenure of loan. Indian banks provide education loans with no prepayment penalty and no pre-closure charges.

Benefits of Indian Bank Education Loan :

1. Low interest rate :

Education loans are offered at low interest rates. The minimum interest rate of Indian Bank education loans starts from 8.50%. Basically the rate of interest will be decided by the bank according to the customer age, employment type, overall profile. So, there will be a very good chance for the customer to get an education loan at an attractive and lower interest rate.

2. Less paperwork :

Indian Bank Education Loan provides less and minimal documentation for the customers. It is not required to submit so many documents for an education loan. The process of documentation is very simple and fast.The documents submitted by the customers are KYC, address proof and income proof, mark sheets starting from class 10th to the latest qualifying exam with the loan application form.

3. No processing fee :

Indian Bank does not charge any processing fee to avail education loan. 

4. No prepayment penalties and preclosure charges : 

Indian Banks do not apply any prepayment penalties and pre closure charges for education loans. Indian banks are not required to charge any fees for education loans.

5. Fast disbursal :

The education loan should be disbursed from Indian Bank within 15 working days from the date of complete submission of all documents required for proper appraisal.

Eligibility Criteria for Indian Bank education Loan :

1. Must be an Indian resident

2. Applicants should be secured admission with the education institutions.

3. The age should be required 16 years to 60 years

Documents required for Indian Bank Education Loan :

1. Filed application form 

2. ID Proof 

3. Address proof

4. 2 passport size photographs

5. Statement of cost of study

6. Letter of admission

7. Last 6 month bank account statement

8. ITR/ IT assessment order, of previous 2 year of parent/ guardian / co borrower ( If IT Payee)

9. Brief statement of asset and liabilities

10. Income proof ; Salary slip or Form 16

Expenses covered under Indian Bank Education Loan :

1. Tuition fees 

2. Cost of books, uniforms and stationeries

3. Cost of laptop or computer ( If required)

4. Examination Form

5. Library/ Laboratory fees

6. Hostel fee

7. Travel expenses ( for Abroad)

8. Miscellaneous Expenses

Compare other bank interest rate :



AXIS Bank Education Loan

13.70% to 15.20%

HDFC Bank Education Loan for Indian Education

9.55% to 13.50%

HDFC Bank Education Loan for Foreign Education

9% to 14%

Kotak Mahindra Bank Education Loan 

11.5% to 24%

IDBI Bank Education Loan

8.30% to 10.41%

Indian Bank Education Loan

Starts from 8.50%

RBL Bank Education Loan

14.15% to 16.15%

Bank of Baroda Education Loan

7.50% to 9.75%

Bank of India Education Loan

7.25% to 9.75%

Canara Bank Education Loan


Standard Chartered Bank Education Loan


SBI Student Loan Scheme


SBI Skill Loan Scheme


SBI Scholar Loan Scheme

8.30% to 9.95%

SBI Takeover of Education Loan


SBI Global Ed-Vantage


Other products of Indian Bank :

1. Indian Bank Business Loan

2. Indian Bank Car Loan

3. Indian Bank Home Loan 

4. Indian Bank EMI Calculator

How to apply for Indian Bank Education Loan :

1. Offline Method : By visiting the nearest bank branch.

2. Online Method : 

  • Visit the official website of loan.

  • Click on apply now

  • Fill out the form with essential details.

  • Upload the mandatory documents required

  • Submit the form and take out a print out of the applications 

  • Visit the bank branch for further formalities.

How to contact with Indian bank :

1. By customer care contact number : 180042500000

2. By customer care email id :

Financials products offered by Bank :













Indian Bank Education loan Frequently Asked AQuestions :

1. What is the maximum tenure of an education loan in Indian Bank?

You can repay your education loan in a flexible tenure period if loan amount up to 7.50 lakh can be repaid within a period of 10 years and loan amount above 7.50 lakh can be prepaid within 15 years.

2. How much interest rate is provided by Indian Bank on an education loan?

The interest rate provided by Indian Bank education loans starts from 8.50% p.a.

3. How much processing fee is charged by Indian Bank for education loan?

There is no processing fee charged by Indian Bank Education Loan.

4. How much loan amount is provided by Indian Bank Education Loan?

The loan amount provided by Indian Bank Education Loan is Rs 15 lakh for education in India and Rs.25 Lakh for studies in Abroad.

Last Updated on : 10/Aug/2020

Know More About

Indian Bank Education Loan

You're eligible for a Indian Bank Education Loan if you:

Are legally adult enough to handle it

Have still got it

Get a regular pay check

Make more than a basic buck

Your eligibility depends on:

Earn more than minimum income required

Maximum allowed Education Loans is Rs. 10K to Rs. 45 lakhs

EMIs of other loans loweryour eligibility

Boost your eligibility by:

Pay off your credit card bills

Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Indian Bank Education Loan Interest Rates

Updated on 25 Nov 2017

Indian Bank Education Loan Details
Interest Rate (Monthly reducing balance) 8.5% - 0%
Processing Fees NIL
Loan Tenure 1 year to 15 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Education Loans EMI Calculator

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