Personal Loan for Students

Get a quick and flexible personal loan for students to cover education expenses, skill development, gadgets & more with interest rates starting from 9.98% p.a. 

Personal Loan for Student: Interest Rate

The latest personal loan interest rate starts at 9.98% p.a. However, factors such as your loan amount, loan tenure, applicant’s credit score and profile, etc. will determine the final interest rate on the student personal loan.

Who can Apply for a Personal Loan for Students?

The following can apply for an instant personal loan online at Paisabazaar:

• Working Professionals: Working professionals with a fixed salary and good credit score, planning for higher education
• Parents: If the student has no income, parents can take a personal loan on their behalf to cover education or related expenses.
• Self-employed individuals: Self-employed individuals with a fixed income and good credit score can apply for a personal loan for students.

Eligibility Criteria for Personal Loan for Students

The eligibility of your student loan will be as follows:

• Minimum age when applying for the loan: 18 years
• Age at loan maturity: 60 years
• Minimum Monthly Income- Rs 25,000
• Employment Profile- Salaried and Self-employed
• Credit Score- 750 and above

Why Choose a Personal Loan Over a Student Loan?

Unlike an education loan, a personal loan for educational purposes offers flexibility of use, along with the following benefits:

• No restriction on usage- Use it for education fees, gadgets, hostel rent, or emergencies.
• Faster approval & disbursal- Get funds quickly without lengthy procedures.
• No collateral required- Most personal loans are unsecured.
• Flexible tenure- Repay in easy EMIs.
• Credit building- Helps you establish a credit history early.\

Fees and Charges