Overview of Education Loan in Sohna
Education loans in Sohna for 2025 support students pursuing higher education, both domestically and internationally. With interest rates starting at 8.5% p.a., lenders like SBI, Bank of Baroda, and HDFC Credila offer loans up to ₹1 crore, covering tuition, accommodation, and other expenses. Loanpao enables Sohna residents to apply online, compare offers, and benefit from flexible repayment options, including moratorium periods.
Eligibility Criteria for Education Loan in Sohna
| Criteria | Details |
|---|---|
| Age | 18 to 35 years |
| Academic Record | Minimum 60% in 10th, 12th, or graduation |
| Course | Approved courses (UG/PG, technical, professional) from recognized institutions |
| Co-applicant | Parent/guardian with stable income; minimum ₹15,000/month or ₹2 lakh p.a. |
| Residence | Valid Sohna address proof |
Documents Required for Education Loan in Sohna
- Identity Proof: Aadhaar, PAN Card, Driving License, Passport, or Voter ID (student and co-applicant).
- Address Proof: Utility bill, Aadhaar, or rental agreement (Sohna 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).
- Course Details: Fee structure, course duration, and institute recognition proof.
- Photograph: Recent passport-size photographs (student and co-applicant).
Benefits of Education Loan in Sohna
- Loan amounts up to ₹1 crore, covering 100% of education costs.
- Competitive interest rates starting at 8.5% p.a. in 2025.
- Flexible repayment tenures up to 15 years, including moratorium period.
- Financing for domestic and international courses.
- Tax benefits under Section 80E of the Income Tax Act.
Factors Affecting Education Loan in Sohna
Interest Rate
Rates range from 8.5% to 13% p.a., based on course type, institute ranking, and co-applicant’s credit profile.
Loan Amount
Up to ₹1 crore, depending on course costs and co-applicant’s repayment capacity.
Co-applicant’s Credit Score
A score above 650 ensures better terms; lower scores may require collateral.
Institute Recognition
Loans for reputed institutes in Sohna or abroad often get better terms.
How to Apply for an Education Loan in Sohna
Follow these steps to apply for an education loan in Sohna through Loanpao:
- Visit loanpao.in and select "Education Loan in Sohna."
- Fill out the online application form with student and co-applicant details (name, Sohna address, course).
- Upload required documents (Aadhaar, mark sheets, admission letter).
- Compare offers from top Sohna lenders like SBI, Bank of Baroda, and HDFC Credila.
- Get approval and funds disbursed within 7–15 days in Sohna.
Loan Eligibility for Education Loan in Sohna
Check your eligibility for an education loan in Sohna with Loanpao’s tool:
- Enter student’s academic details (marks, course type).
- Provide co-applicant’s income (minimum ₹15,000/month).
- Specify co-applicant’s credit score (preferably above 650).
- Include Sohna address and institute details for localized offers.
Loanpao will assess your eligibility and suggest the best education loan offers in Sohna.
Check Eligibility NowTrack Your Education Loan Application in Sohna
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 Sohna.
- Contact Loanpao support for assistance with delays in Sohna.
Education Loan Comparison in Sohna
Compare education loan offers from top lenders in Sohna:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| SBI | 8.50% p.a. | Up to ₹1 crore | Up to 15 years | Up to ₹10,000 |
| Bank of Baroda | 9.00% p.a. | Up to ₹80 lakh | Up to 12 years | Up to 1% of loan amount |
| HDFC Credila | 10.00% p.a. | Up to ₹75 lakh | Up to 10 years | Up to 1.5% of loan amount |
Frequently Asked Questions
The co-applicant must have a minimum monthly income of ₹15,000 for an education loan in Sohna.
Education loans in Sohna are disbursed within 7–15 days after document verification.
The maximum loan amount is up to ₹1 crore, depending on course costs and repayment capacity.
Collateral may be required for loans above ₹7.5 lakh; loans below this are often unsecured in Sohna.
The moratorium period is typically the course duration plus 6–12 months, during which no EMI payments are required.