Education Loan in Srikakulam
An education loan is usually the first large loan a family in Srikakulam takes, and the admission deadline rarely waits for the paperwork. The single question that decides everything is whether you can offer collateral: a secured loan is far cheaper, an unsecured one is faster and needs no property. We will tell you which lenders will fund your specific course and country, and start early enough that the sanction letter reaches the university in time.
- Rates from
- 9.00% p.a.*as published by HDFC Credila
- Amount
- Up to ₹1.5 crore
- Tenure
- Up to 15 years
- Typical sanction time
- 7–21 days
- Lenders on panel
- ICICI Bank · Axis Bank · YES Bank · IDFC First Bank · Tata Capital · InCred Finance · Poonawalla Fincorp · Avanse Financial Services · HDFC Credila · Auxilo
Who it suits
When a education loan is the right answer
- Postgraduate study abroad — US, UK, Canada, Australia, Germany
- Professional courses in India — engineering, medicine, MBA
- Covering tuition, living costs, travel and insurance together
- Families who would rather not break a fixed deposit or sell land
What we do differently
On this product specifically
Secured and unsecured compared honestly
A loan against your property will usually cost several percent less than an unsecured one. We show you both, with the real difference over the full tenure.
We work to the admission deadline
Sanction letters are often needed for a visa. Tell us the date and we will work backwards from it.
Course and country matter
Lenders maintain lists of approved universities and courses. We check yours before you apply rather than after a rejection.
Section 80E
Interest paid on an education loan is deductible under Section 80E for up to eight years. We will point out what to keep for your return.
Work out the EMI
What a education loan would cost you monthly
Set to typical values for this product. Adjust them, then carry the figures straight into your application.
15 lakh
120 months
Monthly EMI
₹19,001
34%of what you repay is interest
- Principal
- ₹15,00,000
- Total interest
- ₹7,80,164
- Total payable
- ₹22,80,164
Indicative only. Your actual EMI depends on the rate the lender sanctions.
Documents
What to bring for a education loan
Pick the description that fits you. Anything you cannot find, tell us — there is usually an alternative the lender will accept.
Everyone needs these
- PAN card
- Aadhaar card
- Two passport-size photographs
- Proof of current address — Aadhaar, electricity bill, rent agreement or passport
Income proof
- Last 3 months' salary slips
- Last 6 months' bank statement of the salary account
- Form 16 or Income Tax Returns for the last 2 years
- Employee ID card or appointment letter
Course and collateral documents
- Admission or offer letter from the university
- Fee structure or cost-of-study breakdown from the institution
- Academic records — 10th, 12th, degree marksheets
- Entrance or language test scores (GRE, GMAT, IELTS, TOEFL) where applicable
- Co-applicant's income documents — usually a parent or guardian
- Property documents, if you are offering collateral for a secured loan
- Passport and visa, for study abroad
Do not have everything? Come in anyway — an incomplete set is enough for a first conversation, and we will tell you exactly what is still missing.
Other loans we arrange
* Lowest starting rate published by a lender on our panel (HDFC Credila), checked on 19 August 2026. Rates are indicative and are not an offer. The rate you are actually offered depends on your credit score, income, loan amount, tenure and the lender’s prevailing rates, and is confirmed only in the lender’s sanction letter. Processing, legal, valuation and other charges levied by the lender are additional and will be disclosed to you in writing before you proceed.
Varahi FinCare is a channel partner and not a lender; the loan is sanctioned at the sole discretion of the bank or NBFC.