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Personal Loan for Students

Get a quick and flexible personal loan for students to cover education expenses, skill development, gadgets & more with interest rates starting from 9.98% p.a. Compare and apply for the best suited personal loan at Paisabazaar

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Digital Process

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max. Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max. Loan Amt.Upto ₹40L
Rate of Interest9.99% - 17.15%
Tenure upto1-5 Years
Processing Fee1% - 1.5%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max. Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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Why Choose Paisabazaar?
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Compare & Choose the Best Offer

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Pre-approved Offers with Instant Disbursals

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Know Your Chances of Approval

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End-to-End Digital Process

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Personal Loan for Student: Interest Rate

The latest personal loan interest rate starts at 9.98% p.a. However, factors such as your loan amount, loan tenure, applicant’s credit score and profile, etc. will determine the final interest rate on the student personal loan.

Who can Apply for a Personal Loan for Students?

The following can apply for an instant personal loan online at Paisabazaar:

  • Working Professionals: Working professionals with a fixed salary and good credit score, planning for higher education
  • Parents: If the student has no income, parents can take a personal loan on their behalf to cover education or related expenses.
  • Self-employed individuals: Self-employed individuals with a fixed income and good credit score can apply for a personal loan for students.

Eligibility Criteria for Personal Loan for Students

The eligibility of your student loan will be as follows:

  • Minimum age when applying for the loan: 18 years
  • Age at loan maturity: 60 years
  • Minimum Monthly Income- Rs 25,000
  • Employment Profile- Salaried and Self-employed
  • Credit Score- 750 and above

Also Read: How Personal Loans Impact Your Credit Score?

Documents Required for Student Personal Loan

The following documents are generally required for a personal loan for students:

  • ID Proof- Aadhar card, Driving License, PAN card, Voter ID, Passport
  • Address Proof- Utility bills, Aadhar card, Driving License, PAN card, Voter ID, Passport
  • Banks statement for last 6 months
  • Salary slips for past 3 months
  • ITR for self-employed

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Why Choose a Personal Loan Over a Student Loan?

Unlike an education loan, a personal loan for educational purposes offers flexibility of use, along with the following benefits:

  • No restriction on usage- Use it for education fees, gadgets, hostel rent, or emergencies.
  • Faster approval & disbursal- Get funds quickly without lengthy procedures.
  • No collateral required- Most personal loans are unsecured.
  • Flexible tenure- Repay in easy EMIs.
  • Credit building- Helps you establish a credit history early.

Also Read: Personal Loan for Marriage

Fees and Charges

Particulars Charges
Processing Fees Up to 4% of loan amount
Foreclosure Charges 1%-5% of the outstanding loan amount
EMI bounce charges Around Rs 400
Penal Interest Rate 2% per month

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Explore Our Personal Loan Lenders

HDFC BANKHDFC BANKAxis BankAxis BankKotak Mahindra BankKotak Mahindra BankICICI BankICICI BankFederal BankFederal BankIDFC First BankIDFC First BankIndusind BankIndusind BankRBL BankRBL BankTata CapitalTata Capital
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FAQs

Personal Loan Articles

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Importance of No Dues Certificate in Personal Loan Closure

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Personal Loan for First Time Borrowers: What Customers Must Know

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Factors To Consider While Selecting a Personal Loan Lender

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Instant Personal Loan Apps: Avoid These 5 Pitfalls

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Reasons for Delay in Personal Loan Processing

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APR vs Interest Rate in Personal Loans: What’s the Difference?

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Tips to Choose an Ideal Personal Loan Tenure

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What our customers say

Personal Loan

Maine Paisabazaar se personal loan apply kiya or Jaldi approval bhi mil gaya aur zyada documents bhi nahi lage.

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Abbaz AhmedApr 10, 2025

Got pre-approved Loan offer

I was looking for Personal loan and came across this platform. I applied online and received multiple loan offers instantly and got a pre-approved offer, and the amount was disbursed within 48 hours.

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Kirti MadaanMar 17, 2025

Loan for Home Renovation

Do din pehle maine apne purane ghar ki renovation ke liye Paisabazaar se loan apply kiya. Process kaafi easy aur smooth tha. Aaj subah mujhe message aaya ki mera loan approve ho gaya hai.

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Rohit GuptaMar 7, 2025

Personal Loan

Take Personal Loan from Paisabazaar. Approved in 2 days, easy process

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Tarun RaghavJan 21, 2025

Took a personal loan

I took a personal loan from Bajaj Finserv via Paisabazaar, and it was easy! Paisabazaar made it smooth and simple. The whole process was quick and hassle-free!

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Palvika PanchalJan 6, 2025

Personal Loan via Paisabazaar

Got a personal loan via Paisabazaar—super easy & quick! Kunal from sales was super helpful, explained everything well. Highly recommend! ?

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DeshmukhDec 19, 2024

Loan for Medical Emergency

Mujhe ekdum urgent medical emergency ke liye paise chahiye the. Paisabazaar se loan liya, aur honestly, sab kuch ekdum smooth tha! Process fast tha, team helpful thi, aur paise bhi jaldi mil gaye

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PawanDec 17, 2024

Get personal loan

Paisabazaar se pre-approved personal loan jadi milgya.. Or 48 hours mai paisa account mai agya.. Team is very helpful

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Kirti GargDec 15, 2024

Good experience

Good experience with Paisabazaar! Loan approval hua within 48 hours aur rates bhi kaafi reasonable the.

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Ashok KumarDec 13, 2024

Personal Loan

Main Travel k liye loan apply kiya tha.. jo jaldi hi approve hogya or account mai agya.

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Deepak KumarDec 10, 2024
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Last updated: 12 September, 2025

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