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.
Personal Loan for Students
15.6L Reviews
Wide Choice
Curated offers from 30+ lenders
Quick Disbursal
Money in your account instantly
SmartMatch
Offers ranked according to eligibility
Digital Process
Hassle-free & paperless

Calculate Your Personal Loan EMI
Select Your Bank
Your Monthly EMI Payment
₹0
Find Best Personal Loan Offers
Compare & Choose the Best Offer
Pre-approved Offers with Instant Disbursals
Know Your Chances of Approval
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
Who can Apply for a Personal Loan for Students?
The following can apply for an instant personal loan online at Paisabazaar:
Eligibility Criteria for Personal Loan for Students
The eligibility of your student loan will be as follows:
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:
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:
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
FAQs
Can students apply for a personal loan?
Yes, students aged 18+ can apply. If they don’t have a steady income, a parent/guardian can apply or be a co-applicant
Is a personal loan the same as a student loan?
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.
Can parents take a personal loan for their child’s education?
Yes. Parents often apply for personal loans to fund their child’s education, especially if the student has no income source.
What expenses can a personal loan for students cover?
Tuition fees, coaching fees, hostel or rental costs, laptops, books, travel, visa expenses, skill courses, and emergency needs.
Is collateral required for a personal loan for students?
No. Most personal loans are unsecured, meaning no collateral or security is needed.
What documents are needed for a student personal loan?
Identity proof, address proof, income proof (if any), and sometimes admission/student ID proof.
Can a personal loan help me study abroad?
Yes. Students can use personal loans to cover travel, visa, accommodation, and other overseas education expenses.
Personal Loan Articles
View All ArticlesPaisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
Address: Paisabazaar Marketing & Consulting Pvt. Ltd. 135 P, Sector 44, Gurugram (HR) 122001
Check Best Personal Loan Offers
with Quick Disbursal











