Meca Finance
Education Loan
Study in India or abroad without putting your plans on hold. We compare education loans from banks and NBFCs, and work with our sister company Meca Education for UK-bound students.
Key features
- Collateral and non-collateral options
- Covers tuition, living costs, travel and more
- Moratorium during the course period
- Sanction letters for visa financial evidence
- Co-applicant guidance for parents
Who can apply
- Admission or offer from a recognised institution
- Co-applicant (usually a parent) with income proof
- Collateral for higher amounts with some lenders
Documents needed
- PAN card
- Aadhaar card or other address proof
- Passport-size photographs
- Admission / offer letter
- Academic records
- Co-applicant income proof and bank statements
Eligibility criteria and documents vary by lender. Approval, rate and terms are decided by the lender.
FAQ
Education Loan: common questions
Can I get an education loan without collateral?
Many lenders offer non-collateral education loans depending on the institution, course and co-applicant profile. Final terms are decided by the lender.
When do I start repaying?
Most education loans offer a moratorium during the course and for a short period after. Some lenders ask for simple interest during the moratorium.
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