Overview of Education Loan in Alwar, Rajasthan

Education loans in Alwar, Rajasthan, support students pursuing higher education in India or abroad. , these loans offer interest rates starting at 8.5% p.a., with loan amounts up to ₹50 lakh for international studies and ₹20 lakh for domestic courses. Lenders like SBI, Bank of Baroda, and HDFC Credila provide flexible repayment tenures up to 15 years, often with moratorium periods. Loanpao helps Alwar residents compare education loan offers, check eligibility, and apply online for quick disbursal.

Eligibility Criteria for Education Loan in Alwar

Criteria Details
Age 18–35 years (student); co-applicant (parent/guardian) 21–60 years
Academic Record Minimum 60% in Class 10/12 or equivalent
Course Approved courses (UG/PG/diploma) in recognized institutions
Co-applicant Income Stable income (salaried: ₹15,000/month; self-employed: ₹2 lakh p.a.)
Credit Score Co-applicant score preferably above 700
Residence Valid Alwar address proof

Documents Required for Education Loan in Alwar

  • Identity Proof: Aadhaar, PAN Card, or Voter ID (student and co-applicant).
  • Address Proof: Utility bill, Aadhaar, or rental agreement (Alwar address).
  • Academic Documents: Class 10/12 mark sheets, admission letter, fee structure.
  • Income Proof: Co-applicant’s salary slips (last 3 months), ITR (last 2 years).
  • Bank Statement: Co-applicant’s last 6 months’ bank statements.
  • Course Details: Proof of admission, course duration, and institute recognition.

Benefits of Education Loan in Alwar

  • Loan amounts up to ₹50 lakh for international studies, ₹20 lakh for domestic.
  • Competitive interest rates starting at 8.5% p.a. .
  • Flexible repayment tenures up to 15 years with moratorium period.
  • Covers tuition, hostel, and other study-related expenses.
  • Tax benefits under Section 80E for interest paid.

Factors Affecting Education Loan in Alwar

Interest Rate

Rates range from 8.5% to 13% p.a., based on course, institute, and co-applicant’s credit profile.

Loan Amount

Up to ₹50 lakh for abroad, ₹20 lakh for India, depending on course and repayment capacity.

Co-applicant Credit Score

A score above 700 ensures better rates; lower scores may require collateral.

Institute Recognition

Loans for reputed institutes in Alwar or abroad often get better terms.

How to Apply for an Education Loan in Alwar

Follow these steps to apply for an education loan in Alwar through Loanpao:

  1. Visit loanpao.in and select "Education Loan in Alwar, Rajasthan."
  2. Fill out the online application form with student and co-applicant details (name, Alwar address, income).
  3. Upload required documents (Aadhaar, mark sheets, admission letter).
  4. Compare offers from top Alwar lenders like SBI, Bank of Baroda, and HDFC Credila.
  5. Get approval and funds disbursed within 3–7 days in Alwar.

Loan Eligibility for Education Loan in Alwar

Check your eligibility for an education loan in Alwar with Loanpao’s tool:

  • Enter student’s academic details (60%+ in Class 10/12).
  • Provide co-applicant’s income (minimum ₹15,000/month for salaried).
  • Specify co-applicant’s credit score (preferably above 700).
  • Include Alwar address and course details for localized offers.

Loanpao will assess your eligibility and suggest the best education loan offers in Alwar.

Check Eligibility Now

Track Your Education Loan Application in Alwar

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 Alwar.
  • Contact Loanpao support for assistance with delays in Alwar.
Track Application Now

Education Loan Comparison in Alwar

Compare education loan offers from top lenders in Alwar:

Lender Interest Rate Loan Amount Tenure Processing Fee
SBI 8.5% p.a. Up to ₹20 lakh (domestic), ₹50 lakh (abroad) Up to 15 years ₹10,000 (max)
Bank of Baroda 8.75% p.a. Up to ₹15 lakh (domestic), ₹40 lakh (abroad) Up to 12 years 1% of loan amount
HDFC Credila 9.0% p.a. Up to ₹20 lakh (domestic), ₹50 lakh (abroad) Up to 15 years 1.25% of loan amount

Frequently Asked Questions

A minimum of 60% in Class 10/12 or equivalent is required.

Education loans in Alwar are disbursed within 3–7 days after document verification.

Up to ₹50 lakh for international studies and ₹20 lakh for domestic courses.

Collateral may be required for loans above ₹7.5 lakh or if the co-applicant’s credit score is low.

Typically, course duration plus 6–12 months, during which only interest may be payable.