Education Loan In Kolkata

There are 20 public universities that award their own degrees or diplomas in Kolkata. The city is home to India’s oldest engineering institutions like Bengal Engineering & Science University and Jadavpur University. With loan agencies from Avanse, Incred, Auxillo and HDFC Credila, you can seek loan assistance suited for your needs. You can opt for an interest rate starting from 11.50%.


Education Loan Provider in Kolkata

Bank Interest Rate(%)
State Bank of India 8.3-10.7%
Axis Bank 10.5-15%
Avanse 12-14.5%
InCred 11.75-14%
Bank Of Baroda 11.25-14%
Bank of Maharashtra 10.15-12.1%



How to get an education loan in Kolkata?

Most public banks and private banks offer low-interest rates on your loan while they look for a strong profile with collateral whereas NBFCs usually offers unsecured loan without security at a higher rate of interest.

With Credenc, getting into your dream school is easy. You can apply for an education loan with online documentation and quick approvals and enjoy low-interest rates and accessible credit funding so that you don't have to compromise with your dreams. Unlike the traditional lenders, we invest in your future rather than assessing you on your past.

For a detailed list of documents, click here.


Geographical Effect

Most of the regions in Kolkata are serviceable for education loans excluding some of the rural areas for their inaccessibility and other conditions. Although some of the banks may limit their service to a certain radius of their headquarters, in which case, we will make sure your application is passed through other major banks and NBFCs and help you get the best rates for your loan.


Coverage & Eligibility


With downstream servicing like employability services, repayment planning, and customer tracking, Credenc offers end to end free servicing that transforms and enhances your entire financial experience. We have partnered with 150+ universities across the country to catalyse finance to students in a more accessible and convenient way.  



Expenses covered under education loan are -

  • Fees payable to school/college/hostel.

  • Examination/Library/Laboratory fees.

  • Purchase of Equipment/Books/Instruments/Uniforms.

  • Purchase of Computer/Laptop if essential for the completion of course.

  • Travel Expenses/ Passage money for studies abroad.


Eligibility Criteria

  • The borrower ought to be an Indian citizen.

  • He/She must have secured admission in the college before disbursement.

An education loan can also be availed before securing admission in a university. NBFCs also provide pre-admission loans on the basis of scorecards of competitive exams like GRE, GMAT, IELTS, TOEFL etc.



It is important to note that public banks have a strict margin policy where they provide financing upto 80-90% of the loan amount. The rest amount has to be paid from your pocket. Whereas NBFCs and private banks offer 100% financing that covers your tuition fees, travel expenses and much more.



Student Loan Interest Rate in Kolkata

  • Nationalised banks charge loan interest between 9% and 14%

  • Private banks offer loan interest at the rate of 11% and 17%

Moreover, the rates of interest also depend upon various factors such as your GRE score, your university and your academic profile.



Education Loan for MBA students in Kolkata

The institutes in Kolkata offer some of the best MBA programs of the country like IIM Kolkata, IIFT Kolkata, MDI Murshidabad, GBS Kolkata.

MBA aspirants often back out before investing in their MBA program due to their

skyrocketing fees. Thus an educational loan can do wonder to help you get the

education you deserve. Check your rates now.


Education Loan for Engineering students in Kolkata


Some of the leading institutes in Kolkata that offer Engineering programs are University of Calcutta, Aliah University, Techno India University etc. Most of the self- aided engineering institutes of the city are affiliated to the West Bengal University of Technology. 11 engineering colleges are funded by the World Bank under the Technical Education Quality Improvement Program. If a student has secured admission in one of the premier institutions, then getting an education is very easy.

Most of the institutions are partnered with several banks to offer financial accessibility to the students. Some of the banks who offer loans for Engineering in Kolkata includes State Bank of India, Axis Bank, Punjab National Bank and HDFC Credila. NBFCs like Avanse, Incred and Auxilo are also prevalent on the scene.


Education Loan for MBBS students in Kolkata


All the medical colleges are affiliated with the West Bengal University of Medical Sciences. Calcutta Medical College, Calcutta National Medical College, R.G Kar Medical College and Guru Nanak Institute of Dental Science and Research are some of the popular medical colleges of the region. You can avail education loan for MBBS upto INR 10 lakh in India and 40 Lakh for abroad studies. Most of the NBFCs also provide loans with no upper limit but requires collateral.