Education Loan for Diploma
✓ Avail upto 40 Lacs Unsecured
✓ With a Complete Online Process
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Funded By
Govt. of India
Supported By
IT Ministry, Govt. of India
1 Lakh+
Students Assisted
ZERO
Service Charge
In India, students who want to obtain a diploma have the option to apply for education loans, either secured or unsecured. The maximum amount available for an unsecured loan is 40 Lacs, while the maximum amount for a secured loan is 2 crores. The interest rate for a secured loan, which requires collateral, starts at 8.55%. Meanwhile, the interest rate for an unsecured loan, which does not require collateral, starts at 9.55%. For those who wish to pursue a diploma abroad, they can avail of an unsecured loan of up to 1.5 crores.
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Education Loan For Diploma Course In India
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Loan Parameters | Details |
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Loan Limit |
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Expenses Covered |
Academic expenses:
Additional expenses:
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Accepted Co-applicant | Parents, Parents-in-law, Spouse, Sibling |
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Interest Rate |
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Moratorium Period | Course duration + 12 months |
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Repayment Duration | 15 years including the moratorium period |
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Value of Collateral |
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Education Loan For Abroad Diploma Course
| Loan Parameter | Details |
| Loan Limit |
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| Expenses Covered |
Academic expenses
Additional costs
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| Accepted Co-Applicant | Parents, Siblings, Spouse, Parents-in-law |
| Interest Rate |
|
| Moratorium Period | The total duration of the course plus 1 year |
| Repayment Duration | Including the moratorium period of 24 months |
| Repayment Policies |
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Documents Required For An Education Loan For Diploma
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Loan Parameter | Details |
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Basic Documents |
Note: If permanent and current addresses are not the same two different address proofs are required.
All the documents should be self-attested. |
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Applicant Academic Documents |
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Financial Co-applicant Income Documents
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Other Documents |
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Additional Docs |
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On going ahead with a secured education loan you would also need some mandatory collateral documentation.
- Property Title Deed
- Registered Sale Agreement / Gift Deed / Will
- The original receipt of registration for the above-mentioned agreement
- If applicable, a letter of allotment by the Municipal Corporation / Authorized Govt. Authorities like MHADA, CIDCO, HUDA, DDA, JDA, GIDC, etc.
- Link documents for 30 years or Past chain of sale deed establishing title or EC is required.
- (If you have owned the property for more than 30 years, then the previous sale deed is enough)
- The newest property tax bill and latest electricity bill bearing the same address
- A copy of the municipality-approved building plan or plot layout.
This is the general list of collateral documents required to process an education loan. Some states require specific documents relating to the collateral. You can reach out to us by requesting a callback to learn more about the city-specific documentation required.
The General Eligibility Criteria For Education Loan For Diploma
- The applicant must be 18 years or older
- The applicant must be a citizen of India
- The applicant must have received admission into the preferred university
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Scholarships To Study Diploma
Below mentioned are a few scholarships that students can make use of in order to fund their diploma
HEST 2023- Higher Education Scholarship Test for Indian students
Tasmania University Cricket Club Scholarship 2023
Sarawak Energy - UNITEN Scholarship Programme 2023
Destination Australia Program Scholarship at University of New England 2023
President’s International Baccalaureate (IB) Scholarship at Northern Arizona University 2023
Griffith College Diploma to Degree Scholarship 2023
International Undergraduate Scholarship at Laidlaw College 2023
RMIT University STEM scholarships 2023
Curtin Singapore Academic Scholarship for International Students 2022
What’s Your Next Step in The Education Loan Journey
WeMakeScholars has created comprehensive guides and tools for every stage of your education loan journey. Pick from the resources below to make the process easier.
Education loan questions, answered
- A: An education loan is a type of loan specifically designed to help students pay for their education, including the cost of obtaining a diploma.
- A: It depends on the type of loan. Some education loans require collateral, while others do not.
- A: The maximum amount available for an education loan for a diploma varies and depends on several factors, such as the type of loan, the student's financial situation, and the lender's policies.
- A: The interest rate for an education loan for a diploma varies and depends on several factors, such as the type of loan, the student's financial situation, and the lender's policies. However, interest rates typically start at 8.55% for secured loans with collateral and 9.55% for unsecured loans without collateral.
- A: Yes, you can get an education loan for a diploma abroad. Some lenders offer education loans specifically for students who wish to pursue their education abroad.
*Interest rates and limits shown are indicative samples and change with RBI policy, lender approval, collateral and applicant profile. T&C apply.
The same loan, handled two ways
Category | Direct with Bank | Via WeMakeScholars |
Application Support | Branch visits and tedious follow-ups | Dedicated financial officer for timely updates and online coordination |
Bank and Scheme Selection | Restricted to the selected bank | Compare options from 20+ lenders |
Post-Sanction Support | Limited support | Dedicated post-sanction team |
Cashback and Offers | No offers or rewards | Cashback up to ₹3,000 |
Calculators For Your Need
Education Loan Calculator
This calculator is a self-help tool for illustrative purposes only. Figures shown above are indicative, and actual values may differ based on the applicant's profile. All loans are subject to the bank's policy and approval.
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