Frequently Asked Questions
Find answers to all your queries about our service.
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How can I open a savings account?
Fill a KYC form with proof of ID, address, photos. Many banks support video KYC for remote openings.
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What is an education loan?
An education loan is financial support provided by banks to help students pay for higher education expenses.
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Can I get a loan for studying abroad?
Yes, most banks offer education loans for studies abroad including tuition, travel, and living expenses.
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What documents are needed for an education loan?
You typically need admission proof, identity/address documents, and co-applicant income proof.
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Who is responsible for repaying the education loan?
Usually, students and parents (as co-applicants) are jointly responsible for repaying the loan.
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Is there a moratorium period for education loans?
Yes, most banks offer a moratorium period (usually course period + 6-12 months) before repayment starts.
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What is the interest rate for education loans?
Interest rates vary by bank but generally range between 7% and 13% per annum.
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Is collateral required for education loans?
Yes, some banks offer collateral-free loans up to a certain amount (usually ₹7.5 lakhs).