Check your education loan eligibility from 20+ banks. Compare rates from 7.95% p.a. Free online calculator.
Education Loan eligibility depends on your monthly income, existing obligations, credit score, age, and employment type. Banks use FOIR (Fixed Obligation to Income Ratio) of around 50% to determine your maximum EMI capacity.
| Bank | Rate | Max Amount | Eligible (50K Income) | Eligible (1L Income) | Processing Fee |
|---|---|---|---|---|---|
| Bank of Baroda | 7.95 - 10.45% | ₹1.50 Cr | ₹16,70,810 | ₹33,41,620 | Nil |
| Canara Bank | 8.00 - 10.75% | ₹1 Cr | ₹16,68,141 | ₹33,36,282 | Nil |
| Indian Bank | 8.00 - 10.30% | ₹1 Cr | ₹16,68,141 | ₹33,36,282 | Nil |
| Union Bank | 8.05 - 10.60% | ₹1 Cr | ₹16,65,478 | ₹33,30,955 | Nil |
| PNB | 8.10 - 10.90% | ₹1 Cr | ₹16,62,821 | ₹33,25,641 | Nil |
| Bank of India | 8.10 - 10.85% | ₹1 Cr | ₹16,62,821 | ₹33,25,641 | Nil |
| SBI | 8.15 - 10.70% | ₹1.50 Cr | ₹16,60,170 | ₹33,20,339 | Nil |
| Central Bank | 8.15 - 10.65% | ₹1 Cr | ₹16,60,170 | ₹33,20,339 | Nil |
| IDBI Bank | 8.25 - 11.25% | ₹1 Cr | ₹16,54,885 | ₹33,09,771 | Nil |
| HDFC Bank | 9.00 - 13.68% | ₹1 Cr | ₹15,53,849 | ₹31,07,698 | Up to 1.50% + GST |
| South Indian Bank | 9.15 - 12.00% | ₹75 L | ₹15,46,522 | ₹30,93,044 | Nil |
| ICICI Bank | 9.25 - 13.00% | ₹1 Cr | ₹15,41,664 | ₹30,83,328 | 1% + GST |
| Karur Vysya Bank | 9.50 - 12.50% | ₹75 L | ₹15,29,615 | ₹30,59,230 | Nil |
| Axis Bank | 9.70 - 13.70% | ₹75 L | ₹15,20,072 | ₹30,40,144 | Nil |
| Federal Bank | 9.85 - 12.50% | ₹75 L | ₹15,12,971 | ₹30,25,942 | 0.50% + GST |
| Kotak Mahindra Bank | 10.00 - 16.00% | ₹50 L | ₹15,05,917 | ₹30,11,833 | Up to 2% + GST |
| Yes Bank | 10.00 - 15.00% | ₹50 L | ₹15,05,917 | ₹30,11,833 | 1% + GST |
| IDFC First Bank | 10.50 - 14.00% | ₹50 L | ₹14,82,740 | ₹29,65,481 | 1% + GST |
| IndusInd Bank | 11.50 - 14.50% | ₹50 L | ₹14,37,900 | ₹28,75,801 | 1% + GST |
| Bandhan Bank | 12.00 - 15.00% | ₹30 L | ₹14,16,211 | ₹28,32,423 | 1% + GST |
Education Loan eligibility is the maximum loan amount a bank will approve for you based on your income, existing obligations, credit score, age, and employment type. Banks use a metric called FOIR (Fixed Obligation to Income Ratio) to determine how much EMI you can afford.
Bank of Baroda currently offers the lowest education loan interest rate starting from 7.95% p.a. in 2026. Rates vary based on your credit score and profile.
Eligibility is calculated using the FOIR method. Banks typically allow 50% of your gross monthly income for all EMI payments. After deducting existing EMIs, the remaining amount determines your maximum new EMI, which is then converted to the maximum loan amount using the interest rate and tenure.
Common documents include PAN Card, Aadhaar Card, Admission Letter from Institute, Fee Structure, and more. Exact requirements vary by bank and your employment type.
You can increase your eligibility by: clearing existing loans, adding a co-applicant, improving your credit score to 750+, choosing a longer tenure, and showing higher income with proper documentation.