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Personal Loan for Students

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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
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto ₹25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%

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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.

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

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FAQs

Yes, students aged 18+ can apply. If they don’t have a steady income, a parent/guardian can apply or be a co-applicant 

No. A student loan is restricted to education-related expenses, while a personal loan offers more flexibility and can be used for tuition, gadgets, rent, travel, or emergencies. 

Yes. Parents often apply for personal loans to fund their child’s education, especially if the student has no income source.

Tuition fees, coaching fees, hostel or rental costs, laptops, books, travel, visa expenses, skill courses, and emergency needs.

No. Most personal loans are unsecured, meaning no collateral or security is needed.

Personal Loan Articles

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Importance of No Dues Certificate in Personal Loan Closure

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Paisabazaar02 Sept 2025
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Personal Loan for First Time Borrowers: What Customers Must Know

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How I Saved Rs 22,000 on My Personal Loan through Prepayment

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How Have Personal Loans Advanced Over the Past few Years

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Factors To Consider While Selecting a Personal Loan Lender - Article image

Factors To Consider While Selecting a Personal Loan Lender

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Paisabazaar16 Jul 2025
Instant Personal Loan Apps: Avoid These 5 Pitfalls - Article image

Instant Personal Loan Apps: Avoid These 5 Pitfalls

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Bhumika Khandelwal16 Jul 2025
Reasons for Delay in Personal Loan Processing - Article image

Reasons for Delay in Personal Loan Processing

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Paisabazaar09 Jul 2025
APR vs Interest Rate in Personal Loans: What’s the Difference? - Article image

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

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Bhumika Khandelwal07 Jul 2025
Tips to Choose an Ideal Personal Loan Tenure - Article image

Tips to Choose an Ideal Personal Loan Tenure

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Paisabazaar07 Jul 2025
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What our customers say

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026

Meri shaddi thi

Shadi mai bht kharche hote hai. Maine shaddi ke liye personal loan paisabazaar se liya tha. Process smooth tha or interest bhi sahi milla.

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Sadia KhatunJan 15, 2026

Travel ke liye personal loan liya tha

Mai bohot din se out of India ghumne jana chahti thi lekin jab jane ka time mila toh budget kaam padh raha tha, Paisabazaar se personal loan leke bht acha trip kiya. Maza agaya. Mere upar koi burden bhi nhi padha

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Tarini RoyJan 14, 2026

Easy personal loan available

Took personal loan. Good experience.

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Ruchika TiwariJan 14, 2026

Medical Emergency thi, loan jaldi mil gya

Muhje ek medical emergency ke liye personal loan lena padha. Paisabazaar pe bht jaldi or smooth process tha. time pe kaam agaya.

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Raj SinghJan 13, 2026

Compare karke sahi rate mila

Loan offers jab comapre kiya toh pata chala konse loan lene se muhje sahi mai faida hoga. Isiliye Paisabazaar muhje best laga.

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Akrity PandeyJan 5, 2026

Personal loan fatfat mai mil gaya

Muhje paiso ki urgent need thi. Paisabazaar se loan jaldi or sahi rate pe mil gaya.

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Riya MehraJan 5, 2026

Loan from Paisabazaar was actually paperless

I always used to think that the paperless loan is a myth. But on Paisabazaar, I applied for the pre approved loan from IDFC Bank and all documentation was already done. I just filled the form, did kyc and my loan was approved and disbuursed one the same day.

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Tanmay BorkatakiDec 12, 2025

Best place for a small loan

I have take loan of 60-70000 three times from paisabazaar in 4 years and every time it has been a very good experience. They provide the loan without failure and have also helped me improve my cibil.

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Aridaman Singh ParhichaDec 11, 2025
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