Overview of Education Loan in Manesar
An education loan in Manesar supports students pursuing higher education in India or abroad. In 2025, lenders like SBI, HDFC Credila, and Axis Bank offer education loans in Manesar with interest rates starting at 8.5% per annum. Loanpao helps you compare offers, check eligibility, and apply seamlessly for an education loan tailored to your academic needs in Manesar.
Eligibility Criteria for Education Loan in Manesar
| Criteria | Details |
|---|---|
| Age | 18 to 35 years |
| Residency | Resident of India with valid address proof in Manesar |
| Academic Record | Minimum 60% in 10th, 12th, or graduation |
| Course | Approved courses (UG/PG) in recognized institutions |
| Co-applicant | Parent/guardian with stable income |
| Credit Score | Co-applicant’s score above 700 preferred |
Documents Required for Education Loan in Manesar
- Identity Proof: Aadhaar Card, PAN Card, or Passport (student and co-applicant).
- Address Proof: Utility bill, Aadhaar, or Rental Agreement (Manesar address).
- Academic Records: 10th, 12th, and graduation mark sheets.
- Admission Proof: Admission letter from the institution.
- Income Proof: Co-applicant’s salary slips (last 3 months), ITR (last 2 years).
- Bank Statement: Last 6 months’ bank statements (co-applicant).
- Photographs: 2 passport-sized photographs (student and co-applicant).
Benefits of Education Loan in Manesar
- Competitive interest rates starting at 8.5% per annum in 2025.
- Loan amounts up to ₹75 lakh for international studies.
- Moratorium period (course duration + 6 months) with no EMI payments.
- Flexible repayment tenure of up to 15 years.
- Tax benefits under Section 80E of the Income Tax Act.
Factors Affecting Education Loan in Manesar
Interest Rate
Rates range from 8.5% to 12%, depending on the lender, course, and co-applicant’s credit score.
Loan Amount
Up to ₹20 lakh for domestic studies and ₹75 lakh for international studies in Manesar.
Co-applicant’s Credit Score
A score above 700 ensures better terms in Manesar.
Institution and Course
Premier institutions and professional courses get better loan terms.
How to Apply for an Education Loan in Manesar
Follow these steps to apply for an education loan in Manesar through Loanpao:
- Visit loanpao.in and select "Education Loan in Manesar."
- Fill out the online application form with your details (name, Manesar address, course details).
- Upload required documents (Aadhaar, admission letter, co-applicant’s income proof).
- Compare offers from top Manesar lenders like SBI, HDFC Credila, and Axis Bank.
- Get approval and funds disbursed within 5-7 days in Manesar.
Loan Eligibility for Education Loan in Manesar
Check your eligibility for an education loan in Manesar with Loanpao’s eligibility tool:
- Enter your academic details (60%+ in 10th/12th/graduation).
- Provide co-applicant’s income and credit score (preferably above 700).
- Specify your course and institution details.
- Include your Manesar address for localized offers.
Loanpao will instantly assess your eligibility and suggest the best education loan offers in Manesar.
Check Eligibility NowTrack Your Education Loan Application in Manesar
Loanpao provides a seamless tracker for your education loan application:
- Submit your application ID on the Loanpao Tracker page.
- Get real-time updates on your application status (e.g., under review, approved, disbursed).
- Receive notifications for disbursal updates in Manesar.
- Contact Loanpao support for assistance with delays in Manesar.
Education Loan Comparison in Manesar
Compare education loan offers from top lenders in Manesar:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| SBI | 8.5% p.a. | Up to ₹50 lakh | Up to 15 years | 0.5% of loan amount |
| HDFC Credila | 9% p.a. | Up to ₹75 lakh | Up to 12 years | 1% of loan amount |
| Axis Bank | 9.25% p.a. | Up to ₹40 lakh | Up to 10 years | 0.75% of loan amount |
Frequently Asked Questions
A minimum of 60% in 10th, 12th, or graduation is required for an education loan in Manesar.
Interest rates for education loans in Manesar start at 8.5% per annum, depending on the lender.
Education loans in Manesar can be disbursed within 5-7 days after application submission.
Yes, a co-applicant (parent/guardian) with a stable income and credit score above 700 is required.
The maximum tenure for an education loan in Manesar is up to 15 years.
Yes, most lenders in Manesar allow prepayment with no charges after the moratorium period.
Missing an EMI can lead to late fees, a negative impact on your credit score, and potential legal action by the lender.
Top lenders in Manesar for education loans include SBI, HDFC Credila, and Axis Bank, offering competitive rates and flexible terms.
Yes, Loanpao offers a fully online application process for education loans in Manesar.
The maximum loan amount for an education loan in Manesar is up to ₹20 lakh for domestic studies and ₹75 lakh for international studies.