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BAJAJ FINSERV DIRECT LIMITED

✓ Up to 100% Funding ✓ Interest Rates starting from 11.50% p.a. ✓ Get up to ₹75 Lakhs

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Education Loan Interest Rates

Compare education loan interest rates from multiple lenders available on Bajaj Markets to find an option that suits your budget.

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Education Loan

Education Loan EMI Calculator

Education Loan Eligibility and Documents

Incred Education Loan

Propelld Education Loan

You can get an education loan on Bajaj Markets at interest rates starting from just 11.50% p.a. However, it is important to check the rates and other terms offered by lenders before applying for the loan. This can help you find an offer that suits your financial requirements effortlessly.

Education Loan Interest Rates and Charges 2025

Compare the latest education loan interest rates and applicable charges offered by top lending partners on Bajaj Markets.

Here are the details for the available offerings:

Available Offerings	Interest Rate (p.a.)	Charges
InCred Finance Education Loan	Starting at 11.50%	Processing Fee: 1.5% + GST
Propelld Education Loan	Starting at 12%	Processing Fee: 1% – 3% of loan amount

Disclaimer: The aforementioned interest rates and charges are subject to change at the lender’s discretion.

Education Loan EMI Calculator

Gaining a clear understanding of your education loan EMIs is crucial for managing your finances and planning your budget effectively. Bajaj Markets provides an easy-to-use education loan EMI calculator that simplifies the process. This tool removes the need for manual calculations, saving you time and avoiding potential errors.

Your Education Loan EMI

₹ 6,334

Total Interest Amount

₹ 260,055

Principal Amount

₹ 5,00,000

Total Payable Amount

₹ 7,60,055

Loan Amount

Interest Rate

- +

Tenure

- +

Calculate Now

You can also make instant comparisons between loan offers from multiple Education Loan providers on Bajaj Markets.

What Is an Education Loan Interest Rate?

The education loan interest rate, also known as the student loan interest rate, is the percentage charged by a lender on the borrowed amount for funding higher education. It determines how much you pay in addition to the principal loan amount. The rate varies across lenders and depends on factors such as the applicant’s profile, course type, institution, and repayment capacity.

What Impacts the Study Loan Interest Rates?

Several factors affect the study loan interest rate, influencing how affordable your education financing becomes.

Here are the key ones:

Lender’s Policies

Each lender has its own risk assessment policies, which directly impact the offered rate of interest. Established lenders may offer lower rates to applicants with stable financial profiles or reputable institutions.

Your Co-applicant’s Credit Score

A co-applicant with a strong credit score and stable income can help secure a lower interest rate. Lenders view such applications as less risky, which can reduce the overall borrowing cost.

Your Academic Background and Choices

Your chosen course, university, and academic record also influence the rate. Students applying for recognised universities or professional courses often receive better terms, as the likelihood of employment after graduation is higher.

Types of Interest Rates on Education Loans

Education loans in India are generally offered under two types of interest rate structures:

Fixed Interest Rate

A fixed interest rate remains constant throughout the loan tenure. It ensures predictable EMIs, making it easier to plan your budget. However, you may miss out on savings if market rates drop.

Floating Interest Rate

A floating interest rate changes based on market conditions or benchmark rates set by the lender. Your EMIs may increase or decrease accordingly. This option can be beneficial when rates are expected to fall.

Frequently Asked Questions

What is the student loan interest rate?

You can benefit from education loan interest rates starting from just 11.50% p.a. when you apply for the loan on Bajaj Markets. However, the rate offered to you is determined on the basis of your eligibility.

What is the processing fee charged on an education loan?

You may be required to pay a processing fee ranging between 1% and 3% for an education loan.

Can I get tax benefits on the interest paid on education loans?

The interest paid on an education loan becomes eligible for deduction under Section 80E of the Income Tax Act, 1961.

How is the education loan interest rate determined?

The education loan interest rate is set by lenders based on factors such as the applicant’s credit history, co-applicant’s financial stability, course type, institution reputation, and market lending rates.

What is the average interest rate for an education loan?

The average education loan interest rate in India generally ranges between 9% and 15% per annum, depending on the lender, applicant profile, and loan amount.

Can I negotiate the education loan interest rate with the lender?

Yes, you can negotiate the interest rate if you have a strong academic background, a reliable co-applicant, or an excellent credit score. Some lenders may also offer concessions for specific universities or courses.

How does the education loan interest rate affect my loan repayment?

A higher interest rate increases your overall repayment amount and EMI burden, while a lower rate makes your loan more affordable and easier to repay over time.

How can I get a lower education loan interest rate?

You can secure an education loan with the lowest interest rate by maintaining a good credit score, applying with a financially stable co-applicant, choosing reputed institutions, or opting for a shorter loan tenure.

What is a prepayment penalty on an education loan?

A prepayment penalty is a small fee charged by some lenders if you repay your education loan before the end of its tenure. However, many lenders waive this charge to encourage early repayment.

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Education Loan Interest Rates

Quick Links

Education Loan Interest Rates and Charges 2025

Education Loan EMI Calculator

₹ 260,055

₹ 5,00,000

₹ 7,60,055

What Is an Education Loan Interest Rate?