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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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Instant Personal Loan

Get up to ₹50 Lakhs starting at 9.98%

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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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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

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

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.

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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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What our customers say

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

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

Best Advisor for Personal Loan

I would like to share my feedback regarding my recent interaction with Mr. Vipin Singh (employee id EW12967) After discussing the financial matters with him, I felt very satisfied with his approach and professionalism. He explained everything clearly, handled the discussion patiently, and ensured that all concerns were addressed effectively. His communication skills, positive attitude, and dedication towards his responsibilities truly reflect his commitment to the organization.

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20th Jan 2026Jan 20, 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

Perfect for Loan Solutions

Recently I had a conversation with Mr. Harsh ji. Thanks Mr. Harsh ji for providing a better solution in a very short period of time with very nice behaviour. Thank You very much.

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Amit ChahalJan 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

Stress-free Laon Borrowing Process

There was a complication with my KYC verification. Paisabazaar’s Shazeb handled it swiftly and professionally. He ensured that I received regular updates, explained the resolution steps clearly, and most importantly, resolved the issue quickly. His prompt assistance and communication made the entire experience smooth and stress-free. Thanks to his efforts, the loan process was completed without further delays.

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Abhishek ThakuraJan 14, 2026
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