Overview of Education Loan in Rewari
Education loans in Rewari provide financial support for students pursuing higher education in India or abroad. In 2025, lenders like SBI, Bank of Baroda, and Axis Bank offer education loans with interest rates starting at 8.5% per annum, covering tuition fees, accommodation, and other expenses. Loanpao helps Rewari residents compare offers, check eligibility, and apply for education loans seamlessly.
Eligibility Criteria for Education Loan in Rewari
| Criteria | Details |
|---|---|
| Age | 18 to 35 years |
| Residency | Must be a resident of Rewari with valid address proof |
| Applicant Type | Students with confirmed admission in recognized institutions |
| Co-applicant | Parent or guardian with stable income (minimum ₹20,000/month or ₹3 lakh annually) |
| Credit Score | Co-applicant’s score above 700 preferred |
| Course | Approved courses (graduate, postgraduate, or professional) in India or abroad |
Documents Required for Education Loan in Rewari
- Identity Proof: Aadhaar Card, PAN Card, or Voter ID (student and co-applicant).
- Address Proof: Utility bill, Aadhaar, or Rental Agreement (Rewari address).
- Admission Proof: Admission letter from recognized institution.
- Income Proof: Co-applicant’s salary slips (last 3 months), ITR (last 2 years), or business financials.
- Bank Statement: Co-applicant’s last 6 months’ bank statements.
- Academic Records: Mark sheets of 10th, 12th, or degree certificates.
- Photographs: 2 passport-sized photographs (student and co-applicant).
Benefits of Education Loan in Rewari
- Competitive interest rates starting at 8.5% per annum in 2025.
- Loan amounts up to ₹1.5 crore for international studies or ₹50 lakh for domestic studies.
- Flexible repayment tenure of up to 15 years, including moratorium period.
- Covers tuition, accommodation, travel, and other study-related expenses.
- Quick disbursal within 7-10 days for verified applicants in Rewari.
Factors Affecting Education Loan in Rewari
Interest Rate
Rates range from 8.5% to 13%, depending on lender, course, and co-applicant’s credit profile.
Loan Amount
Up to ₹1.5 crore for abroad or ₹50 lakh for India, based on course and institution.
Credit Score
Co-applicant’s score above 700 ensures better terms; lower scores may require collateral.
Institution Reputation
Recognized institutions in India or abroad improve loan approval chances in Rewari.
How to Apply for an Education Loan in Rewari
Follow these steps to apply for an education loan in Rewari through Loanpao:
- Visit loanpao.in and select "Education Loan in Rewari."
- Fill out the online application form with student and co-applicant details (name, Rewari address, income details).
- Upload required documents (admission letter, Aadhaar, income proof).
- Compare offers from top Rewari lenders like SBI, Bank of Baroda, and Axis Bank.
- Get approval and funds disbursed within 7-10 days in Rewari.
Loan Eligibility for Education Loan in Rewari
Check your eligibility for an education loan in Rewari with Loanpao’s eligibility tool:
- Enter student details (course, institution, admission status).
- Provide co-applicant’s income details (salary or business income).
- Include Rewari address and co-applicant’s credit score.
- Specify loan purpose (domestic or international studies).
Loanpao will instantly assess your eligibility and suggest the best education loan offers in Rewari.
Check Eligibility NowTrack Your Education Loan Application in Rewari
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 Rewari.
- Contact Loanpao support for assistance with delays in Rewari.
Education Loan Comparison in Rewari
Compare education loan offers from top lenders in Rewari:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| SBI | 8.5% p.a. | Up to ₹50 lakh (India), ₹1.5 crore (abroad) | Up to 15 years | ₹10,000 (max) |
| Bank of Baroda | 9% p.a. | Up to ₹40 lakh (India), ₹1 crore (abroad) | Up to 12 years | 1% of loan amount |
| Axis Bank | 9.5% p.a. | Up to ₹30 lakh (India), ₹75 lakh (abroad) | Up to 10 years | Up to 1.5% of loan amount |
Frequently Asked Questions
Yes, education loans in Rewari cover studies abroad, with loan amounts up to ₹1.5 crore for recognized international institutions.
Interest rates start at 8.5% per annum, depending on the lender, course, and co-applicant’s profile.
Education loans in Rewari can be disbursed within 7-10 days after application submission, depending on document verification.
Yes, a co-applicant (parent or guardian) with a stable income is required for most education loans in Rewari.
The maximum tenure for an education loan in Rewari is up to 15 years, including the moratorium period.
Yes, most lenders in Rewari allow prepayment with no charges after the moratorium period.
Missing an EMI can lead to late fees, a negative impact on the co-applicant’s credit score, and potential legal action by the lender.
Top lenders in Rewari for education loans include SBI, Bank of Baroda, and Axis Bank, offering competitive rates and flexible terms.
Yes, Loanpao offers a fully online application process for education loans in Rewari.
Education loans in Rewari cover tuition fees, accommodation, travel, books, and other study-related expenses.