Education Loan Eligibility Calculator

While applying for education loan, here are some of the eligibility norms you must comply with:

  • Loan Applicant: You must be one of the parents (resident Indian) of the child for whom you are applying the student loan.
  • Income: Only salaried individuals are considered for education loans. Minimum monthly salary should be INR 20,000.
  • Credit Score: You must have at least a CIBIL score of 600 to be eligible for taking education loans. Defaulting at repayment will affect your credit rating negatively, and may attract penalty charges.
  • Repayment Capacity: Your active debts, credit history, and repayment capacity will be taken into consideration before sanctioning the school fees loan.
Documentation for Student Loan

Besides using the education loan eligibility calculator, you must also know the important documents needed for securing a study-loan in India.

  • Identity Proof: Documents that will be a proof of your identity will be considered at time you apply for student loan. Some of the accepted documents as ID proof are birth certificate of the child (to understand if you are the parent of the child or not), your passport, Aadhar card, PAN card, voter ID card, ration card, etc.
  • Address Proof: The documents that provide proof of your address (permanent or temporary) are taken into account when you seek a college fees loan from The proof may include copies of ration card, electricity bill, voter ID card, passport, Aadhar card, etc.
  • Employment and Income Proof: Documents from your employer that confirm your service with the company or individual, appointment letter, salary slips of past 6 months, bank statements, etc.
  • Financial Profile: Your CIBIL report or credit history will be judged to understand your capability to repay the education loan. The documents may include bank statements, income proof, and others.