What to expect
- An education loan with a parent as co-applicant is the designed product — cheaper, longer, and interest is deductible under Section 80E
- Loans up to ₹7.5 lakh need no collateral under the CGFSEL guarantee
- A secured credit card against a small FD builds a credit history years before your first salary
- Beware app-based instant loans marketed at students — pricing is routinely above 30% effective
Documents you will need
- PAN and Aadhaar
- Admission letter and fee structure
- Co-applicant KYC and income proof
- Academic records
Work out the numbers first
Before you apply anywhere, check what your income supports with the eligibility calculator, and what it will cost with the EMI calculator. Applying blind and being declined leaves a mark on your credit file that the next lender can see.