Education Loan in India- Get upto 7.5 Lakhs Without Collateral-Vidyaloans

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Education loan in India is a great financial aid to students who desire to pursue higher studies in Indian institutions. Many students opt for a collateral loan to fund their education in India but there are a few students who do not have enough security or collateral to pledge and acquire an education loan. As education loans act as a support system for many students, banks have provided various unsecured loan options available in the market for students to fund their education in India. VidyaLoans is one such organization which helps in fulfilling the dreams of the students in India by providing upto 7.5 lakhs education loan without collateral in India through Government banks. In this article, we will cover all the basic details required to avail an unsecured loan like eligibility criteria, documents, how to apply for a non-collateral education loan etc. 

Types of student education loan India

There are two types of student education loan India: 

a. Collateral education loans

Collateral loans are also known as secured loans in India. Collateral is something which is pledged as security in order to avail an education loan. In this, a collateral is taken by the lender to sanction the student loan. There are different types of collateral that are accepted for a study loan India which includes house, flat, non-agricultural land, Government bonds, LIC policy, Fixed deposits, etc. 

b. Non-collateral education loans

Non-collateral education loans are also known as unsecured loans where a student is not required to pledge collateral in order to avail an education loan in India. In this type of loan, students are required to strictly meet the eligibility criteria to avail an education loan. 

Education Loan Eligibility Criteria

  1. The student must be a resident of India
  2. The student must possess the letter of admission from a recognized university in India or abroad
  3. The age of the student must be between 18 to 35 years during applying for a loan
  4. The student must have a prolific academic record 

Eligibility criteria without collateral in India

Students who wish to fund their education in India by taking an unsecured loan must acknowledge the fact that banks are a bit stringent about the applicant and the co-applicant’s eligibility criteria for an unsecured education in India. These are the few factors students must consider before taking an unsecured education loan in India: 

Student loan eligibility criteria: 

1. Excellent academic Grading till date

In order to avail an unsecured education loan in India students must have an excellent academic profile i.e. in 10th, 12th, and degree. The student must have a minimum of 60% in his academics to meet the eligibility criteria.

2. Avoid backlogs

Many of the students who have more than three backlogs do not qualify for an unsecured education loan in India but if the backlogs are cleared in the stipulated course duration, the student can take an education loan without collateral in India. 

When students directly directly start their loan process in banks there have been several cases where applications of students have been rejected because of the lack of reliability on the borrowers, but if you process through VidyaLoans, our team of professionals will connect you with the best banks offering the best education loan in India and will talk through the branch managers to process your application on special recommendations. 

3. A gap in the education

The student would be required to explain the track of their gap in academics by writing a letter to the bank officials in order to avail an unsecured education loan in India. 

4. Degree level

Government banks accept all types of degrees i.e. undergraduate courses, post-graduation courses, Ph.D., etc except for UG Diploma and certificate programs. 

Financial Co-applicant eligibility criteria: 

1. For salaried employees:

A minimum of 2 years of ITR are required or Form 16 is mandatory i.e. a document for the salaried individual which indicates the amount of tax deducted from the salary income of the employee.

2. For Self-Employed individuals:

A minimum of 3 years of ITR is required. Also business proofs like photographs of business places, registrations like GST or shop registration

3. For pensioners

Pension slips of the pensioners are required. If the person has more than 2 lakhs per annum pension, then only it is acceptable for an education loan. 


In order to meet the eligibility criteria, the co-applicant should not have any CIBIL issues in the past. 

The eligibility criteria mentioned above are the foremost requirements preferred by the banks. Applicants who do not meet these eligibility criteria are not provided unsecured loans. But do not worry as our team of professionals at VidyaLoans always find an alternative to get around these criteria and would help you get the loan amount with the help of special recommendations. Connect with Vidyaloans to avail an unsecured education loan in India up to 7.5 lakhs where our team of professionals will help you sanction the loans through Government banks of India.

What do Vidya Loans do?

VidyaLoans is an organization which helps Indian students secure a non-collateral loan from Government banks of up to 7.5 Lakhs. We have a dedicated team of professionals who assist students with queries and guide them throughout the loan process. Our Team at Vidyaloans is committed to sanction the best loan option suiting the applicant's profile and needs, in a stipulated time frame.

Vidya loans product details

Interest rate

8 to  9% interest rate

Maximum loan amount

Up to 7.5 lakhs from any Government banks

Processing fees

Rs 10,000/- + GST

No payment Moratorium period

Course duration + 1 year

Repayment period

15 years of tenure

Loan margin

5-10% for studies in India

10-15% for studies in Abroad


No security or collateral required

Processing time

Up to 12-15 days

Note: If the students are looking for an education loan up to 7.5 lakhs from Government banks, apply through Vidyaloans as our team will assist you through the entire loan process. But for students who are seeking an education loan above 7.5 lakhs can process their loan application through Government funded organization  WeMakeScholars.

How is VidyaLoans different from others in the market? 

  1. We are one of the best organizations in the market offering the best unsecured education loan services to the students. 
  2. We assign a dedicated processing officer who will help you in each and every step with your loan process at the assigned Government banks. 
  3. Our processing officer will share with you the latest updated checklist and also they will help you in the entire documentation process which plays a significant role to start your loan process. 
  4. One of the prime factors is that our processing officer will help you in filling up the Vidyalakshmi online application form. It is an imperative task as it is important to fill the form correctly in one go, as once submitted you cannot change or edit your application because of which we are different from others in the market. 
  5. Also, our processing officer will directly connect with the sanctioning officers at the bank for faster processing and sanctioning of loans.

Why should you apply through VidyaLoans?

VidyaLoans loans is an organization which helps students to secure non-collateral loans from Government banks up to 7.5 lakhs in India. Vidyaloans will help you apply through various Government banks and will assist you throughout the loan process. 

1. Lower interest rates

One of the biggest advantages of applying through VidyaLoans is that our team shares a professional affinity with sanctioning officers and manages to keep a close check on your loan application status.

2. Faster processing of loans

Government banks are mostly known for the slow processing of loans because of which most students apply through VidyaLoans as our rapport with the concerned banks makes it possible to process your loan in 12 to 15 days. 

3. Professional assistance throughout the loan process

When students directly apply to Government banks, most of them are not guided properly but our team at VidyaLoans will help you throughout the loan process and will clear all the doubts a student may have during the education loan process. Your processing officer will also fill in all the required details in the Vidyalakshmi portal accurately. 

Therefore, it is advisable that students who are looking for different alternatives to fund their education in India and seek right financial guidance should connect with our processing officers at VidyaLoans. They will help you apply to various banks and will help you process your education loan without collateral in 12-15 days.