Got into an IIT? You've cleared the hardest exam in India. Now let StudyCapital get you the best education loan — lowest rates, fastest approval, collateral-free options for all 23 IITs.
| Course | Total Fees (Approx.) | Recommended Loan | Duration |
|---|---|---|---|
| B.Tech (IIT) | ₹8–10 Lakhs | ₹10–15 Lakhs | 4 years |
| M.Tech (IIT) | ₹2–4 Lakhs | ₹5–8 Lakhs | 2 years |
| MBA / PGDM (IIM) | ₹23–35 Lakhs | ₹30–50 Lakhs | 2 years |
| MBA (ISB) | ₹45–55 Lakhs | ₹50–80 Lakhs | 1 year |
| PhD (IIT) | ₹2–5 Lakhs | ₹5–10 Lakhs | 4–5 years |
IITs are classified as premier institutions. Banks offer their best interest rates — from 8.5% p.a. — for IIT students. Some banks offer an additional 0.5% concession for female students.
HDFC Credila and other private lenders offer collateral-free loans up to ₹40 lakhs for IIT students, citing strong placement records and future earning potential.
You don't repay during your studies. Repayment begins after course completion + 1 year (or 6 months after getting a job — whichever is earlier).
Interest paid on your IIT education loan qualifies for tax deduction under Section 80E — with no upper limit — for up to 8 years after you start repaying.
IIT admission letters simplify verification. Banks process IIT student loan applications in 48–72 hours — the fastest for any domestic loan category.
StudyCapital compares SBI, HDFC Credila, Axis Bank, ICICI, PNB and 45+ more to get you the best rate and terms for your specific IIT campus and course.
Yes. IIT is a premier institution under the IBA Scheme. Government banks offer collateral-free loans up to ₹7.5 lakhs. Private lenders like HDFC Credila offer collateral-free options up to ₹40 lakhs for IIT students, given their strong placement records and earning potential.
IIT education loan interest rates start from 8.5% p.a. with SBI and Bank of Baroda. As premier institutions, IITs attract the best rates from banks. Some lenders also offer 0.5% interest concession for female students.
For IIT B.Tech (4 years), total fees are ₹8–10 lakhs and banks typically sanction ₹10–15 lakhs including hostel and living costs. For MBA at IIM, up to ₹50 lakhs. For ISB, up to ₹80 lakhs. Contact StudyCapital for your personalised amount.
Yes. Under Section 80E of the Income Tax Act, you can claim a deduction on the interest paid on your education loan — with no upper limit — for up to 8 consecutive years after repayment begins. This significantly reduces your effective loan cost.