Most students assume they won't qualify for an education loan — but in reality, 85% of applicants are eligible. Here's the complete eligibility criteria broken down by category.
Basic Eligibility Criteria for Education Loans in India
Indian citizen (NRI students also eligible with some lenders)
Typically 18–35 years. No upper limit for executive MBA programs.
Confirmed admission letter from a recognised college/university required
Parent, spouse, sibling, or guardian required as co-borrower
Academic Eligibility — What Marks Do You Need?
This is the most common concern — and the good news is that most banks don't have a minimum marks requirement for education loans. What matters is:
• You have passed your qualifying exam (10+2 for UG, graduation for PG)
• You have a confirmed admission letter
• For government banks: the college should be NAAC/NBA accredited or listed in the approved list
• For NBFCs like Credila/Avanse: admission to almost any recognised institution qualifies
Co-applicant Eligibility — What Income Is Required?
For unsecured loans (no collateral): Co-applicant should have monthly income of ₹30,000–₹50,000 or more. This is checked by NBFCs mainly.
For secured loans: Income requirement is lower if you have property as collateral. Some PSBs approve loans if the property value covers the loan amount.
CIBIL score: 700+ is preferred. If co-applicant has low CIBIL, we can work with lenders who have alternative assessment criteria.
Which Courses Are Eligible?
- ✅ Engineering (B.Tech, M.Tech)
- ✅ MBA / PGDM
- ✅ MBBS / BDS / MD
- ✅ Law (LLB, LLM)
- ✅ B.Sc / M.Sc
- ✅ CA / CFA / CPA
- ✅ Nursing / Pharmacy
- ✅ Aviation & Hotel Management
- ✅ Diploma & ITI (selected lenders)
- ✅ Online degrees from reputed universities (HDFC Credila, Avanse)