Education Loan
Education Loan — invest in a degree, not a delay
From tuition and coaching to study-abroad costs, fund education with a loan structured around your course and repayment ability. Compare options across 25+ lenders in one place.
Check your eligibility in 2 minutes — OTP verified
No impact on your CIBIL. We pre-qualify you against 25+ partner banks and NBFCs before any hard inquiry.
Get a call in 10 minutes
2 fields. OTP verified. 25+ banks compared for you.
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Complete KYC now (5 min)Education Loan — what you should know
An education loan helps cover tuition fees, living costs, coaching, certification courses and overseas study. MahadevX compares secured and unsecured education-finance options so you choose the lowest effective cost.
- For school, college, professional courses and study abroad
- Covers tuition, living costs, equipment and travel
- Compare moratorium and repayment terms across lenders
- Guidance on co-applicant and collateral requirements
Documents required
Typically: admission/offer letter, fee structure, KYC of student and co-applicant, income proof of co-applicant, and academic records. We send a checklist matched to your course and lender.
From application to disbursal in 48 hours
- 1Submit applicationOne form, 2 minutes, OTP verified. No paperwork at this stage.
- 2Eligibility assessmentWe screen you against 25+ lender criteria before any hard inquiry.
- 3Compare offersTop three offers shared with you within 4 working hours. You pick.
- 4DocumentationDoorstep pickup or secure upload — packaged the way the lender wants.
- 5DisbursalLoan disbursed directly into your account by the lender.
Why borrowers choose MahadevX
Compare 25+ Lenders
One OTP-verified application. We negotiate your file with 25+ partner banks and NBFCs and bring you the top three offers — one CIBIL inquiry, not twenty-five.
Dedicated Advisor
A real person runs your file from documentation to lender coordination to disbursal follow-up. No chatbots. Reachable on call and WhatsApp.
Debt Restructuring Advisory
Unique to MahadevX: if you carry high-EMI loans, we can structure a consolidation that lowers your monthly outgo before adding a new loan. We will tell you when NOT to borrow.
Education Loan — FAQs
Does an education loan cover study abroad?
Yes — overseas tuition, living expenses and travel can be financed. Terms vary by destination and course; we compare lenders active in that segment.
Is a co-applicant always required?
For most education loans a parent or guardian co-applicant is required. We confirm the exact requirement for your chosen lender before you apply.
When does repayment start?
Many education loans offer a moratorium during the course plus a grace period. We highlight the most flexible moratorium options when comparing offers.
Does applying through MahadevX hurt my CIBIL?
No. One application with MahadevX is one inquiry, even though we compare 25+ lenders. Applying to many banks directly creates multiple hard inquiries that hurt your score for 6 months.
Are there any charges I pay to MahadevX?
No. Borrowers pay MahadevX nothing — our commission is paid by the lender after your loan disburses. The lender's standard processing fee may still apply; that goes to the bank, not to us.
Ready to compare your best Education Loan offers?
One OTP-verified application. Twenty-five lenders. Zero borrower fees. Disbursal in 48 hours.
Get up to ₹1L – ₹1.5 Cr starting at
Which loan are you looking for?
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🔒 No impact on CIBIL score · No spam calls
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Annual income
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Your matched offers
Indicative — final terms are issued by the lender on sanction.
One application · one CIBIL inquiry · a real advisor on your file
Why Choose MahadevX?
Compare 25+ lenders instantly
See offers from every empanelled bank and NBFC side by side. No more visiting branch by branch.
Lowest interest rate guaranteed
Our negotiating power as a top DSA gets you preferential rates that walk-in customers cannot access.
100% digital application
Apply from home in 5 minutes. Document upload, eKYC, and digital signature — no paperwork at all.
Pre-approved offers
For select borrowers with strong credit profile, our partner lenders give you instant pre-approved offers.
No hidden charges
You pay nothing to MahadevX. Lender fees are disclosed upfront in writing before you sign anything.
Cashback on disbursal
Get up to ₹1,000 cashback on your loan disbursal as a welcome reward from MahadevX.
How to Apply for Education Loan Online
Get up to ₹1L – ₹1.5 Cr in 5 simple steps
Enter mobile number
Start with just your phone — we send a one-time OTP to verify.
Personal details
Name, email, and basic contact info — takes 30 seconds.
Loan purpose & amount
Tell us how much and for what — wedding, medical, business, anything.
Compare offers
See best-suited offers from 25+ lenders ranked by approval chances.
Pick & disburse
Choose your offer, complete eKYC, and money in your account in 24–48 hours.
Key Features & Benefits
No Collateral Required
Unsecured personal loans without pledging property, gold, or other assets.
Flexible End Use
Use for medical, travel, wedding, education, debt consolidation, renovation — anything.
Quick Approval & Disbursal
Online process enables instant approval and disbursal in just 30 minutes for eligible customers.
Minimal Documentation
Digital processes mean approval based primarily on income, credit score, and repayment capacity.
Flexible Repayment Tenure
Choose tenures from Up to 15 years based on your monthly cash flow needs.
Improves Credit Score
Adding an unsecured product and repaying it diligently positively impacts your credit profile.
Compare Education Loan Interest Rates from Top Lenders
Interest rates start from 8.85% – 14% p.a.. Final rate depends on your credit score, income, employer profile, and existing liabilities.
Compare loan rates across our partners
Indicative starting rates, kept current by MahadevX. Tap a column to sort. Your exact rate is set by the sanctioning lender.
| Lender | Rates From (p.a.) | Max Amount | Profile | |
|---|---|---|---|---|
| IDFC FIRST Bank | 10.49% | ₹40 L | — | Apply |
| IndusInd Bank | 10.49% | ₹40 L | — | Apply |
| HDFC Bank | 10.5% | ₹40 L | — | Apply |
| ICICI Bank | 10.75% | ₹40 L | — | Apply |
| Axis Bank | 10.99% | ₹40 L | — | Apply |
| Kotak Bank | 10.99% | ₹35 L | — | Apply |
| Tata Capital | 10.99% | ₹35 L | — | Apply |
| Yes Bank | 10.99% | ₹40 L | — | Apply |
| Bajaj Finserv | 11% | ₹55 L | — | Apply |
| L&T Finance | 11% | ₹25 L | — | Apply |
| Federal Bank | 11.49% | ₹30 L | — | Apply |
| Aditya Birla | 11.99% | ₹30 L | — | Apply |
Types of Education Loan
Eligibility Criteria
Eligibility may vary across lenders, but most banks and NBFCs use these baseline criteria:
Documents Required
| Requirement | Salaried | Self-employed |
|---|---|---|
| Identity Proof | PAN, Aadhaar, Passport, Voter ID, or Driving License | |
| Address Proof | Aadhaar, Passport, Voter ID, or recent utility bill | |
| Income Proof | Last 3 salary slips, Form 16, last 6 months bank statement | Last 2 years ITR, P&L + balance sheet, last 6 months bank statement |
| Photograph | Recent passport-size photo | |
How ready is your file?
Tap what you already have. We’ll tell you how close you are — and can WhatsApp you the list.
Tap the documents you have ready.
Fees and Charges
Fees vary by lender and your credit profile. The ranges below cover most banks and NBFCs in our network.
| Processing Fee | Often Nil |
| Prepayment / Foreclosure (Floating Rate) | Nil (RBI mandated) |
| Prepayment / Foreclosure (Fixed Rate) | 2% – 5% of outstanding principal |
| Loan Cancellation | ~₹3,000 |
| EMI / Cheque Bounce | ~₹400 per bounce |
| Penal Charges | 2% per month (24% p.a.) |
| Stamp Duty | As per state actuals |
Am I eligible? — 30-second check
4 taps. No documents, no CIBIL impact, nothing leaves your browser.
1. Net monthly income
2. Employment type
3. CIBIL score band
4. Existing EMIs take up…
Indicative only — each lender applies its own policy. One application with MahadevX checks your exact fit with a single CIBIL inquiry.
Heavy EMIs are limiting your eligibility — consolidating first usually unlocks it. See how Reduce My EMI works →
EMI Calculator
Calculate your EMI for different interest rates, loan amounts and loan tenures, using MahadevX's EMI Calculator.
- 1L
- 25L
- 50L
- 75L
- 1CR
- 4%
- 8%
- 12%
- 16%
- 20%
- 24%
- 5Y
- 10Y
- 15Y
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Loan in Your City
Frequently Asked Questions
Fill our 4-step apply form (takes 3 minutes), upload basic documents digitally, compare offers from 25+ lenders, pick the best one. Approval in 24 hours, disbursal in 24–48 hours for most cases.
720 or above gives you the best rates. 650–720 gets you decent NBFC offers. Below 650 — we have a few NBFCs that consider applications, but rates are higher and amounts smaller.
No. MahadevX is free for borrowers — we earn commission from the lender post-disbursal, never from you. The lender will charge their own processing fee, which is disclosed upfront.
Pre-approved offers can disburse in 30 minutes. Standard applications take 24–48 hours after document submission. Cases needing physical verification can take 3–5 days.
Yes. Floating-rate loans have zero prepayment charges (RBI mandate). Fixed-rate loans typically charge 2–5% on the outstanding principal. Check the lender sanction letter for exact terms.
Yes — applying with your spouse or parent often increases approval chances and the eligible amount. Both incomes are clubbed for eligibility calculation.
Common reasons: low credit score, inconsistent income, high existing EMI burden. Our team will tell you exactly why, and which lenders may still approve you. We try at least 3 lenders before declaring rejection.
Initial check via MahadevX is a soft enquiry — no score impact. When you select a final lender, they do a hard pull. Multiple hard pulls in a short time can drop your score by 5–10 points temporarily.
Yes. We are DPDP Act compliant, store all PII on India-based servers, never sell your data, and only share with lenders you explicitly authorise. Documents are deleted 90 days after loan closure.
After application, you get a reference number on email and WhatsApp. You can also log into our Borrower Portal anytime to track status, upload pending docs, and see lender responses.
Reviewed by Kamalapati Upadhyay · 12 + Years
MahadevX is a loan facilitation and distribution platform. Loan approval, interest rates, tenure, and disbursement are subject to the policies, eligibility criteria, and final approval of the respective lending institution.