Education Loan Mumbai

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Rates as low as 9.33%
Pre-Admission Loans
Study in India / Abroad
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Unsecured Loan Available

Education Loan Mumbai

Education Loan Mumbai

Mumbai is considered to be having a high literacy rate, and it houses several reputed educational institutes of the country. Being the commercial capital of the country, it also offers better job opportunities and growth; that is why students all over the country prefer Mumbai for pursuing higher studies. So, many banks offer education loans in Mumbai at an attractive interest rate to help deserving students pursue higher education in the reputed colleges and universities of Mumbai. Getting an education loan from Mumbai from these banks to pursue your dream course and covering other expenses related to the course will not be an issue in education loan Mumbai.

Major Education Loan Providers in Mumbai


SBI Education Loan

HDFC Education Loan

Axis Education Loan

Avanse Education Loan

Interest Rate  7.45% – 9.55%  9.50% – 13.3%  8.55% – 10.5%  10% – 16.50%
Loan Amount Loan up to 1.5 Crores Loan up to 20 Lakh Loan up to 40 Lakh Loan up to 25 Lakh
Tenure Up to 15 Years of Repayment Up to 15 Years of Repayment Up to 15 Years of Repayment Up to 10 Years of Repayment
Processing Fee Up to 2.0% Up to 1.0%  Up to 15k  Up to 2.0%
Loan For Abroad Studies Yes Yes Yes Yes
Online Approval  Yes Yes Yes Yes
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Top Institutes for Education Loan in Mumbai

Types of Colleges in Mumbai Top 10 Colleges in Mumbai Top 10 Universities in Mumbai
  • Architecture college
  • Law college
  • Medical college
  • Pharmacy college
  • Engineering college
  • Bio-technology
  • college
  • Management college
  • Science, Commerce, and Arts college
  • Physical education college
  • B.ED college
  • Ramnarain Ruia College
  • Lala Lajpat Rai College of Commerce and Economics
  • Indian Institute of Technology
  • St. Xavier’s College
  • Wilson Raj College
  • Maharishi Dayanand College
  • Elphinstone College
  • Sardar Patel College of Engineering
  • Dr D.Y. Patil Medical College
  • Narsee Monjee Institute of Management Studies
  • International Institute for Population Sciences
  • Indian Institute of Technology (IIT)
  • University of Mumbai
  • SNDT Women’s University
  • Padmashree Dr D. Y. Patil Vidyapeeth
  • University of Petroleum and Energy Studies
  • Narsee Monjee Institute of Management & Higher Studies
  • Tata Institute of Fundamental Research
  • Tata Institute of Social Sciences
  • Bhabha Atomic Research Centre

Courses Offered:

Courses Offered
B.E, B.Tech M.E, M.Tech
B.Com M.Com
B.Sc M.Sc
B.Pharm. M.Pharm.
BHM PG Diploma in Hotel Management
B.Arch M.Arch

Types of Expenses covered by Education Loan

Expenses Covered Courses Covered
Studying in India Studying Abroad
  • Cost of laptop or computer, if required for the course
  • Books, equipment, and instrument cost
  • Entire tuition fee
  • Library and laboratory fees
  • Hostel or mess charges
  • All other necessary expenses in relation to study tours, thesis, project work, etc. till the course completion
  • Examination fees
  • Accommodation cost, if there is any
  • Admission acceptance fee
  • Insurance premium for the borrower
  • Professional/Graduation/Post-Graduation technical/regular diploma/degree courses from UGC/AICTE/ICMS/ICMR/IMC/AIBMS/Govt. approved institute or IIT/IIM, IISC/NIFT/XLRI, etc.
  • Veterinary, Dental, Law, Engineering, Aeronautical, Medical, Computer, Management, teacher training, nursing courses, etc.
  • Courses such as CA, CFA, ICWA
  • Professional/Job-centric/technical/diploma/degree/Graduation/Post-graduation courses such as MBA/MCA/MS etc.
  • Courses from CIMA UK, CPA in the USA, etc.

Documents Required for Education Loan Mumbai

Category Description
Required Documents
  • Duly filled and signed application form with affixed photographs
  • 2 photographs of passport size
  • Copy of exam mark sheets of 10th/12th or latest education certificate
  • Statements of courses expenses/cost of study
  • Aadhar Card and Pan Card of the Student and Parent/Guardian
Age proof
  • Copy of Aadhar Card/Voter ID/Passport/Driving License
Identity Proof
  • Copy of Aadhar Card/Voter ID/Passport/Driving License
Residence Proof
  • Rental agreement/Bank statement of 6 months of the student or co-borrower/guarantor/Copy of Ration card/Gas Book/Electricity Bill/Tel Bill
Income Proof
  • Most recent Salary Slips or Form 16 of the parent/guardian/co-borrower
  • 6 months bank statement of the borrower or updated passbook of bank
  • Updated ITR of 2 years or IT assessment order of last 2 years of parent/co-borrower/guardian
  • Documents stating the assets and liabilities of the parent/co-borrower/guardian


How to Apply for Education Loan Mumbai

Before availing education loan Mumbai, it is important to check the rates offered by various banks. To provide you with a hassle-free experience, Dialabank does that job for you. The advantages of considering Dialabank before taking an education loan in Mumbai are:

Education Loan Mumbai

  • No sort of fee is charged by our customers.
  • Get expert advice and guidance.
  • The process is time-saving with Dialabank.
  • The Loan gets disbursed quickly.

Applying for an education loan in Mumbai is easy with Dialabank. The steps that need to be followed for applying online are as follows:

  • Go to Dialabank for an education loan in Mumbai.
  • Select Education Loan
  • Check out all the eligibility and documents criteria for education loan Mumbai.
  • Fill out all the details required and choose the most appropriate plan.
  • Once done, our representative will soon contact you.

FAQ on Education Loan

 What is the maximum amount of time I have to pay back my education loan?

Your loan can be repaid over a period of up to 6 years.

What is the maximum amount of money that may be borrowed for an education loan?

If you are studying in India, you can take out a loan of up to INR 25 lakh. You can get a loan of up to 30 lakhs if you want to study abroad.

What is the rate of interest on a student loan?

Our Personal Loan for Education interest rates is reasonable and affordable. Rates start at 10% and go up from there.