Overview of Education Loan in Palwal
Palwal students can access education loans in 2025 to fund higher studies in India or abroad. These loans cover tuition, accommodation, and other expenses, with loan amounts up to ₹1.5 crore and interest rates starting at 8.5% p.a. Loanpao helps Palwal students compare offers, check eligibility, and apply online for disbursal within 7–15 days.
Eligibility Criteria for Education Loan in Palwal
| Criteria | Details |
|---|---|
| Age | 18 to 35 years |
| Academic Record | Minimum 60% in 10th, 12th, or graduation |
| Course | Admission to recognized institutions (domestic or international) |
| Co-applicant | Parent/guardian with stable income; minimum ₹15,000/month |
| Credit Score | Co-applicant’s score above 700 preferred |
| Residence | Valid Palwal address proof |
Documents Required for Education Loan in Palwal
- Identity Proof: Aadhaar, PAN Card, Driving License, Passport, or Voter ID (student and co-applicant).
- Address Proof: Utility bill, Aadhaar, or rental agreement (Palwal address).
- Academic Documents: 10th, 12th, and graduation mark sheets; admission letter.
- Income Proof (Co-applicant): Salary slips (last 3 months), bank statements (last 6 months), ITR (last 2 years for self-employed).
- Course Details: Fee structure, course duration, and institute recognition proof.
- Photograph: Recent passport-size photographs (student and co-applicant).
Benefits of Education Loan in Palwal
- Loan amounts up to ₹1.5 crore for domestic or international studies.
- Competitive interest rates starting at 8.5% p.a. in 2025.
- Flexible repayment tenures up to 15 years, with moratorium period.
- Disbursal within 7–15 days post-document verification.
- Covers tuition, accommodation, travel, and other study-related expenses.
Factors Affecting Education Loan in Palwal
Interest Rate
Rates range from 8.5% to 13% p.a., based on co-applicant’s credit score, course, and institute.
Loan Amount
Up to ₹1.5 crore, depending on course cost and co-applicant’s income.
Co-applicant’s Credit Score
A score above 700 ensures better terms; lower scores may require collateral.
Institute Recognition
Loans for reputed institutes in Palwal or abroad get better terms.
How to Apply for an Education Loan in Palwal
Follow these steps to apply for an education loan in Palwal through Loanpao:
- Visit loanpao.in and select "Education Loan in Palwal."
- Fill out the online application form with details (student and co-applicant details, Palwal address).
- Upload required documents (Aadhaar, academic records, income proof).
- Compare offers from top Palwal lenders.
- Get approval and funds disbursed within 7–15 days in Palwal.
Loan Eligibility for Education Loan in Palwal
Check your eligibility for an education loan in Palwal with Loanpao’s tool:
- Enter co-applicant’s monthly income (minimum ₹15,000).
- Provide co-applicant’s credit score (preferably above 700).
- Include academic details (60%+ marks, admission letter).
- Specify Palwal address and course details for localized offers.
Loanpao will assess your eligibility and suggest the best education loan offers in Palwal.
Check Eligibility NowTrack Your Education Loan Application in Palwal
Loanpao provides a seamless tracker for your education loan application:
- Submit your application ID on the Loanpao Tracker page.
- Get real-time updates on status (e.g., under review, approved, disbursed).
- Receive notifications for disbursal updates in Palwal.
- Contact Loanpao support for assistance with delays in Palwal.
Education Loan Comparison in Palwal
Compare education loan offers from top lenders in Palwal:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| Lender A | 8.50% p.a. | Up to ₹50 lakh | Up to 10 years | 0.5–1% of loan amount |
| Lender B | 9.00% p.a. | Up to ₹1.5 crore | Up to 15 years | 1% of loan amount |
| Lender C | 9.50% p.a. | Up to ₹75 lakh | Up to 12 years | 0.75% of loan amount |
Frequently Asked Questions
The co-applicant must have a minimum monthly income of ₹15,000 for an education loan in Palwal.
Education loans in Palwal are disbursed within 7–15 days after document verification.
The maximum loan amount is up to ₹1.5 crore, depending on course cost and co-applicant’s income.
Collateral may be required for loans above ₹7.5 lakh or if the co-applicant’s credit score is low.
Yes, education loans typically include a moratorium period (course duration + 6–12 months) before EMI repayment starts.