Star Education Loan – Studies in India


  • No documentation charges
  • No hidden charges
  • No prepayment penalty
  • NIL Processing charges
  • No collateral security upto Rs. 7.50 Lakhs
  • Nil margin upto Rs. 4.00 Lakhs
  • Takeover of loan facility from other bank available


  • Education loans for higher studies in India i.e regular full time Degree/Post Graduation courses in India
  • Loan amount upto Rs. 150 Lakhs can be considered for both medical and non-medical courses in India.

Quantum of Loan

  • Maximum Rs.150.00 Lakh for Medical courses excluding Nursing and non-medical courses.
  • Need-based finance to meet expenses, subject to earning potential of students upon completion of the course

Expenses Covered

  • Fees payable to college / school / hostel
  • Examination / Library Fees.
  • Purchase of books /equipment / instruments
  • Purchase of computer / laptop.
  • Caution deposit / building fund / refundable deposit supported by Institution bills / receipts.
  • Life Insurance Premium for life cover of student/co- borrower for total tenure of loan
  • Any other expenses related to education.


  • All the student borrowers are offered a specially designed OPTIONAL Term Insurance cover and the premium can be included as an item of finance.

You may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.

Eligibility of Student

  • Students should be Indian National/ PIO/OCI.
  • Should have secured admission in recognized institution for approved courses by UGC / Govt. / AICTE through Entrance Test / Merit Based selection process after completion of HSC (10 plus 2 or equivalent)
  • Where criterion for admission is not based on entrance test or selection based on marks obtained in qualifying examination, Education loan can be based on employability of the student and reputation of the institution concerned.

Courses Covered

  • The Course should be approved/ recognized by the designated academic authority/regulatory body for the stream of study concerned in India.

Please click on the link below for details of courses covered.


Quantum of Loan Margin %
Up to Rs.4.00 lacs Nil
Above Rs. 4.00 Lakhs 5%


Upto Rs. 4 lacs

  • Parent(s) or co-borrower as joint borrowers.
  • Obtention of cover under CGFSEL is mandatory.

Above Rs.4 lacs & up to Rs.7.50 lacs

  • Parent(s) or co-borrower as joint borrowers,
  • Obtention of cover under CGFSEL is mandatory

Above Rs.7.50 lacs

  • Parent(s) or co-borrower as joint borrowers.
  • Tangible Collateral security of suitable value acceptable to the Bank.
  • Assignment of future income of the student for payment of Installments.

Agricultural Land as tangible collateral security may be considered only in States where it is permitted to mortgage Agricultural Land for purpose other than Agricultural Activities, subject to terms & conditions.

You may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.


Loan Amount ( in Lacs) Rate of Interest
For loans upto Rs.7.50 lacs 1 Year RBLR +1.70%
For loans above Rs.7.50 lacs 1 Year RBLR +2.50%

For more details Click Here


  • No processing Charges
  • VLP portal charges of Rs. 100.00 + 18% GST
  • One time charges for any deviation from the scheme norms including approval of courses outside the scheme:
Scheme Norms Charges
Up to Rs.4.00 lacs Rs. 500/-
Over Rs.4.00 lacs & Upto Rs.7.50 lacs Rs.1,500/-
Over Rs.7.50 lacs Rs.3,000/-

  • Student applicant may be required to pay fee/charges, if any, levied by third party service providers who operate common portal for lodging loan applications set up

Repayment Period

  • Moratorium up to course period plus 1 year.
  • Repayment period : 15 years from the date of commencement of repayment

Coverage Under Credit

  • All Educational Loans upto Rs.7.50 lacs conforming to the guidelines of “IBA Model Education Loan Scheme for pursuing studies in India and Abroad” are eligible for coverage under CGFSEL by National Credit Guarantee Trustee Company(NCGTC)

Other Conditions

  • Loan will be disbursed in stages as per requirement / demand, directly to the Institution/ Vendors of books/equipment’s/instruments to the extent possible
  • Student to produce mark list of previous term/semester before availing next instalment
  • Student / Parent to provide latest mailing address, in case of any change
  • Student /Parent to inform Branch immediately on change of course /completion of studies/termination of studies/ any refund of fees by college /institution /successful placement /obtention of job/change of job etc.
  • Students should apply online via Vidya Lakshmi Portal developed by NSDL e-Governance Infrastructure Ltd. To apply on line on Vidya Lakshmi Portal click here

You may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.

Documents required

Document Student Co-applicant
Proof of Identity ( PAN & Aadhaar) Yes Yes
Proof of Address Yes Yes
Income proof (ITR/Form16/Salary slip etc.) No Yes
Academic Records(X ,XII , Graduation if applicable) Yes No
Proof of admission/ qualifying examination result ( if applicable) Yes No
Schedule of study expenses Yes No
2 passport size photograph Yes Yes
1 year Bank statement No Yes
VLP portal Reference Number Yes No
VLP portal Application Number Yes No
Collateral security details and documents , if any No Yes

You may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.