Achieve Your Educational Dreams with Easy EMI Education Loans in Hosur

Pursue Your Dreams in 2024 with TFS Hosur's Easy Education Loans! Reach for the stars without financial constraints! TFS Loan Agency in Hosur makes your educational aspirations a reality with our convenient and flexible education loan options.

our EDUCATION Goals 2024

Why Choose TFS Hosur for Your Education Loan?

  • Competitive Interest Rates: Focus on your studies, not your finances, with our competitive interest rates that ease the burden of educational debt.
  • Fast Approvals & Quick Disbursement: Get your loan approved and disbursed quickly, so you can focus on your studies without delay.
  • Minimal Documentation: Skip the paperwork hassle with our simplified documentation process.
  • Flexible Loan Options: Choose from a variety of loan options tailored to your specific educational needs and duration, whether it’s undergraduate, postgraduate, or professional studies.
  • Dedicated Support: Our friendly and knowledgeable staff is here to guide you through every step of the loan application process.
  • Special Hosur Benefits: Enjoy exclusive discounts and offers designed specifically for students in Hosur.

Investing in your education is an investment in your future. Let TFS Hosur be your partner in achieving your academic goals!

Purpose of Education Loan

An education loan helps you finance the cost of your education and related expenses, including:

  • Tuition fees
  • Books and supplies
  • Living expenses
  • Other course-related costs

It's an investment in your future, allowing you to pursue your educational goals without worrying about financial burdens.

Education Loan
Know More About

Student Eligibility

  • Indian citizen, typically 18-35 years old.
  • Admitted to a recognized higher education program (India or abroad).
  • May require a co-applicant (parent/guardian) depending on the loan amount.
  • Bonus: Many banks offer competitive rates, flexible options, and quick approvals.

Get educated, and invest in your future! Check with TFS Hosur for details.

Education Loan Eligibility

AgeMinimum- 16 years Maximum- 35 years
Academic recordProven – good
QualificationCompleted 10+2 (12th Standard)/Diploma
For PursuingGraduation /Postgraduate Degree or a PG diploma in professional Education.
University Applied toListed,Recognized and Accredited Institutes in India and Overseas  
Loan can be sanctioned on the basis of
  • Pre- admission sanction
  • Entrance exam score like GRE,GMAT etc.
  • 12th/HSC Results
  • Confirmed Admission
Loan Amount

Domestic – Upto Rs 1 crore

International – Upto Rs 2 crore

Co-borrowerFather, Mother, Brother, Sister, Spouse (Husband/Wife), Grand Parents, Parents in law, Brother in law, Maternal/Paternal Uncle.
SecurityProperty i.e. House or Flat, FD –Fixed Deposit, Existing ICICI Bank Home Loan for cross collateral.

Required Documents for Education Loan

Here are the mandatory documents that a student need to provide to the banks while applying for a student loan:

  • 2 photographs of passport size
  • Copy of 12th standard mark sheet or latest education certificate
  • Admission letter with cost of education if available
  • Pan Card of the student and Parent/ Guardian

Age proof

  • Aadhaar Card /Voter ID/Passport/Driving Licence

Identity proof

  • Voter ID/Aadhaar Card/Driving Licence/Passport

Residence proof

  • Passport
  • Driving License issued by Regional Transport Authority
  • Voter’s Identity Card issued by the Election Commission of India
  • Job card issued by NREGA signed by State Government Officer
  • Letter from National Population Register containing details of name and address
  • Proof of possession of complete AADHAR number/AADHAR Card

Income proof

  • Most recent salary slips and Form 16 of the parent/ guardian/ co-borrower
  • Latest 3 months bank statement for non-ICICI Bank customer (Not required for ICICI Bank customer)
  • Updated ITR (Income Tax Return with income computation) of 2 years of parent/co-borrower/guardian.

Study in India / Abroad / NRI Students

Your Dream University is Now a Reality.

Age of the Student

In most cases, the age of the student doesn't matter for an education loan! The focus is on the course you're taking and securing a co-applicant with good income. Some lenders might have an age range (like 18-35 years), but it's more about ensuring you're in the right stage for higher education

Loan in Sub-Sequent Years of Course

Yes, education loans can often be topped up in later years of your course! Here's the gist: Need more loan? Banks might consider topping up your existing loan if you have good academic standing and justify increased expenses. No loan yet? You can still apply for a fresh loan for later years, meeting eligibility criteria like course recognition and good grades. Remember, policies vary, so check with your bank or loan provider for specifics!

Eligiable Course

In India, education loans cover mostly full-time: Degree/Diploma courses: UG, PG, PhD, recognized by UGC/AICTE/Govt. bodies. Professional/Technical courses: MBA, MCA, MBBS, Engineering, Law etc. from reputed institutes. Foreign university courses: Accredited/Govt. approved degrees or job-oriented programs.


Loan amount: In some cases, "quantum" simply refers to the maximum loan amount a bank or lender might offer. For example, "Union Bank offers education loans with no maximum quantum for NRI students studying at premium institutes." Quantum University: This is a specific private university in Roorkee, India. Some banks or NBFCs might have partnered with this university to offer special education loan schemes for its students.


In India, a co-applicant for an education loan is someone who shares responsibility for repayment with the student borrower. They're usually a parent, spouse, or close relative with a good income. Think of them as a backup if the student can't repay for some reason.

What is it?

Think of the margin as your contribution towards your study expenses. It’s the portion you pay yourself, while the bank covers the rest through the loan.

How much is it?

Generally, the margin ranges from 10% to 25% of your total education cost. But, keep in mind:

  • Public banks in India usually have a 10% margin requirement.
  • Some private lenders might offer loans with no margin for specific courses or universities.
  • The margin can increase if you borrow a larger loan amount or for higher education abroad.

Why is it important?

A higher margin shows the bank you’re invested in your education and can manage finances responsibly. This might give you better loan terms like lower interest rates.

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Educational loans can help cover a range of expenses related to your studies, making it easier to pursue your academic goals. Here’s a simplified breakdown of what you can typically use the loan for:

1. Tuition fees: This is the biggest chunk, covering the cost of attending your chosen course or program.

2. Books and study materials: Textbooks, reference materials, software, and other essentials for your studies.

3. Living expenses: Rent, food, utilities, transportation, and other daily living costs, especially if you’re studying away from home.

4. Examination fees: Registration fees for various exams related to your course.

5. Study tours and projects: Costs associated with educational trips, research projects, and field work.

6. Laptop and equipment: Essential tech tools you need for your studies, like a laptop, software licenses, or lab equipment.

7. Health insurance: Some lenders might offer to cover health insurance premiums as part of the loan package.

8. Travel expenses: This might be applicable for students studying abroad or living away from their hometown.

Please note:

  • The specific expenses covered may vary depending on the lender, loan type, and your study program.
  • Some lenders might have limits on certain expenses, like living costs.
  • It’s crucial to carefully review the loan terms and conditions before applying to understand what’s covered and what’s not.

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Repayment for your education loan starts after a pause period called the moratorium. It usually lasts 6 months to 1 year after your course ends, giving you time to find a job.

The total repayment time (tenure) can be as long as 15 years for most loans in India.

Here’s the key takeaway:

  • Moratorium: Relax, no payments for a while.
  • Repayment tenure: Up to 15 years to spread out your payments.

Remember, longer tenure means smaller monthly payments but more interest paid overall. Choose wisely based on your financial situation!

Interest rates on education loans in India can vary quite a bit, depending on a few factors:

  • Loan provider: Public banks generally offer lower rates than private banks or NBFCs.
  • Loan amount: Larger loans often have slightly higher interest rates.
  • Course and university: Some lenders might offer special rates for specific courses or universities.
  • Your profile: Applicants with good credit scores or co-signers might secure a lower rate.

As of January 2024, here’s a general range of interest rates for education loans:

  • Public banks: 7.00% to 11.15%
  • Private banks: 8.50% to 15.00%
  • NBFCs: 9.00% to 16.00%

Remember, comparing rates from different lenders is crucial to find the best deal. Check online platforms or directly contact banks for their current offers.

Education Loan Security

  • Collateral-free loans: Up to ₹7.5 lakhs for Indian studies and specific courses abroad.
  • Secured loans: For amounts above ₹7.5 lakhs, collateral like property or fixed deposits may be required.
  • Co-borrower: A parent or guardian can act as a co-borrower to improve loan eligibility.


Got an Education Loan? Life Insurance Might Be Required!

Imagine this: you’re studying hard, building your future, and paying off your education loan. Suddenly, the unexpected happens. What if something happens to you and your family is left with the loan burden?

That’s where life insurance for education loans comes in.

Think of it as a safety net:

  • If something happens to you (death or disability), the insurance pays off your education loan.
  • This protects your family from financial hardship.

In 2024, some lenders make life insurance mandatory for education loans, especially for larger amounts or unsecured loans (without collateral). The coverage amount usually matches the loan amount.

Compare Top Education Loan Offers 2024

Name of Bank

Interest Rate (p.a.)

Processing Fees


8.15% to 11.15%

  • Up to Rs.10,000
  • No charged required for loan amount below Rs.20 lakh
  • Loan amount above Rs.20 lakh: Rs.10,000 (plus taxes)

Central Bank of India 

8.10% to 10.60%  

Nil for studies in India


8.40% onwards

Contact the bank

Canara Bank 

8.60% onwards

0.50% of the loan amount up to Rs.10,000 (for collateral security coverage of 100% and above)


10% to 15%

Contact the bank

IDBI Bank 

8.50% onwards

1% of the loan amount (Maximum: Rs.5,000) 

Bank of Baroda

9.25% onwards

No processing charges up to Rs.7.50 lakh1% of loan amount up to Rs.10,000

Bank of India 

10.95% to 11.75%

No processing fee for studies in India


9.85% onwards  

Up to 2% + GST

Bank of Maharashtra 

9.45% to 11.30%

Contact the bank 

Axis Bank

13.70% to 15.20%

2.00% of the loan plus GST


9.50% Preferential rates as per the college or the university  

As per the criteria of the bank

Kotak Mahindra Bank

Up to 16%


Federal Bank

12.55% onwards

Contact the bank

DCB Bank

9.65% per annum

  • Up to Rs.4 lakh: Nil
  • Above Rs.4 lakh: Rs.5,000

Tamilnad Mercantile bank

11.60%- 12.85% 

1% of the sanctioned loan amount

Note: These interest rates are effective as of  January 2024 and are subject to change as per the bank’s rules and regulations.


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