Maximum Loan Amount
You can borrow up to Rs 5 Lakh, provided you meet the eligibility criteria and have a good credit score.
Education Loan
Pursuing an MBA, Engineering, MBBS, or any other course? A Personal Loan for Education from Hero FinCorp supports your academic journey with quick and easy access to necessary funds. Apply today and take the next step towards your future!
Zero Loan Cancellation Fees via App
100% Digital Process
No Hidden Charges
Calculate Personal Loan EMI
Get a Personal Loan for Education Approval in 10 Minutes
Higher education can be expensive. Tuition fees, living costs, and other expenses add up quickly, whether you study in India or abroad. Many students and their families find it hard to manage these costs, which can lead to financial stress and affect academic focus.
That is why proper financial support is so important. Hero FinCorp offers Personal Loans for Education to help cover these expenses. This is an unsecured loan designed primarily for salaried/self-employed parents or guardians funding a student's education.
You can apply online through a simple digital process and get approval in just 10 minutes. The process is entirely paperless, requires no collateral or guarantor, and ensures quick disbursal. Loans start from Rs 50,000 and come with flexible repayment tenures of up to 36 months. With Hero FinCorp, you can concentrate on your studies without worrying about finances.
Features and Benefits
Getting an instant personal loan for students is simple and convenient. This facility is designed to cover all your academic expenses while supporting your educational goals.
Collateral Free
This is an unsecured Personal Loan, which means you don’t need to provide any security or collateral.
Instant Approval
A Personal Loan for Education can be approved within 10 minutes when you apply on the Hero FinCorp website or loan app.
Quick disbursal
Once approved, the loan amount is quickly disbursed directly into your bank account.
Interest rate
The interest rate starts at 19% per annum. The final rate will depend on your eligibility and credit profile.
Flexible tenure
You can choose a repayment period that suits your financial capacity.We offer flexible tenures ranging from 12 to 36 months.
Eligibility Criteria
When applying for an instant education loan, ensure you verify the eligibility criteria to avoid rejection or delays. The primary applicant (parent/working professional) should be aware of the basic requirements for a smooth application process.| Eligibility Criteria | Details |
|---|---|
| Age | 21 - 58 years |
| Citizenship | Should be an Indian citizen |
| Work Experience | 6 months for salaried, 2 years for self-employed |
| Monthly Income | Minimum Rs 15,000 |
| Credit Score | A minimum CIBIL score of 700 or more is strongly recommended. |
Required Documents
Obtaining an Education Loan is easy and fast, with no paperwork required. Both salaried and self-employed individuals can instantly complete the application process online. Just keep these documents handy:
- PAN Card
- Aadhaar Card
Interest Rate & Charges
Education Loans can help cover the cost of your studies, but it’s important to understand all the expenses involved to avoid repayment stress later. The best way to stay prepared is to know the interest rates and any additional fees right from the start.
| Loan Details | Charges/Details |
|---|---|
| Interest Rate | Starting from 19% per annum. |
| Loan Processing Charges | Minimum Processing fee is 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST (As per the latest NBFC Master Circulars) |
| EMI Bounce Charges | Rs 350/- |
| Interest on Overdue EMIs | 1–2% of the loan/EMI Overdue Amount Per Month |
| Cheque Bounce | Fixed Nominal Penalty |
| Loan Cancellation |
|
How to Apply for a Personal Loan for Education Online?
Getting a Personal Loan for Education is simple and hassle-free. Just follow a few easy steps to apply online.
- 01
Visit the website
- 02
Go to the instant Personal Loan section and click on Apply Now.
- 03
Enter your mobile number and complete registration by submitting the OTP.
- 04
Specify the loan amount you need.
- 05
Complete your KYC verification.
- 06
Click Submit to finish your loan application.
Purpose of Taking a Personal Loan for Education
We help students and parents easily manage education expenses. With quick approvals and flexible repayment options, both students and working professionals can focus on learning without worry.
Here is how a Personal Loan for education can help:
1. Tuition Fees: Cover the cost of college or university fees without financial strain.
2. Accommodation: Pay for hostel or rental expenses during your studies.
3. Study Materials: Purchase laptops, books, or other essential learning tools.
4. Skill Development: Fund short-term certification or upskilling courses to boost your career.
5. Travel and Visa Costs: Manage expenses related to studying abroad.
6. Exam and Coaching Fees: Pay for entrance exams, test registrations, or coaching classes.
7. Living Expenses: Cover daily costs while you can focus on your academics.
With our loan app, getting an Education Loan is easier than ever. You can explore different loan options, check your eligibility, and apply directly from your phone. The app ensures fast, paperless funding to cover all your education expenses. Here is how to get started:
1. Open your device’s app store.
2. Search for the Hero FinCorp Loan App.
3. Tap Install to download it.
4. Once installed, open the app.
5. Allow the necessary permissions for smooth performance.
6. Register or sign in using your email ID or mobile number.
7. Choose a Loan to explore your options and available offers.
How to Apply for an Education Loan Online Using the Loan App?
Applying for an Education Loan is fully digital. With this loan for students, you can finance your education with ease and focus on your studies without losing any important opportunities. Here is the application process:
- Open the loan app on your smartphone
- Choose the loan amount and preferred EMI
- Enter the required details
- Complete your e-KYC process
- Enter your bank account details
- Get real-time approval of the loan
- Sign the e-Mandate and loan agreement online
- Get the loan amount directly in your account
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Frequently Asked Questions
Indian citizens, typically salaried or self-employed professionals (parents/guardians), aged 21-58 years, with a minimum net monthly income of ₹15,000, are eligible to apply. This loan is generally not available for students with no income in India.
A CIBIL score helps assess a person’s creditworthiness, but even first-time borrowers can get a Personal Loan for students if they meet the required eligibility criteria.
Yes, submitting your PAN card is mandatory when applying for a student loan.
You can apply online though a website or mobile app. Simply register, complete the application form, and follow the instructions to complete the loan application process.
Apply online though a website, provide KYC details, get quick approval, and receive funds directly into your account.
You need to provide your KYC details (Aadhaar card and PAN) to apply for a Personal Loan for a student online.
You can take a Personal Loan for Education of up to Rs 5 Lakh through the app or website if you are 21–58 years of age with a monthly income of Rs 15,000.
We decide student loan interest rates based on your credit profile and debt-to-income ratio. The EMI amount can vary based on the repayment tenure. You can use an online personal loan EMI calculator to calculate your instalments instantly.