Yes Bank Education Loan
Achieve your academic dreams with Yes Bank’s education loans, offering up to ₹40 lakh unsecured and rates starting at 10.99% p.a.
Overview
Yes Bank offers flexible education loans for students pursuing higher education in India and abroad. With loans up to ₹40 lakh for domestic studies and ₹1.5 crore for abroad (secured), Yes Bank covers tuition, living expenses, and more at competitive rates starting at 10.99% p.a.
Key Features & Benefits
- ✔ Loan Amount: Up to ₹40 lakh unsecured; ₹1.5 crore secured.
- ✔ Moratorium: Course duration + 12 months.
- ✔ Repayment Tenure: Up to 15 years.
- ✔ Margin: Varies by university for abroad; 100% for domestic.
- ✔ Rates: 10.99%–12.75% p.a., lower for female borrowers.
- ✔ Tax Benefits: Interest deductible under Section 80E.
- ✔ No Prepayment Penalty: Close your loan early without charges.
Eligibility Criteria
Student:
- Indian citizen.
- Secured admission to a recognized institution.
- Completed 10+2 or equivalent with strong academics.
Co-applicant:
- Required for unsecured loans (parent or guardian).
- Stable income, credit score ≥700 preferred.
Documents Required
Student:
- Admission letter or proof of application.
- Academic records (10th, 12th, graduation).
- KYC (Aadhaar, PAN, Passport).
- Course fee structure, visa (for abroad).
Co-applicant:
- KYC (Aadhaar, PAN, Passport).
- Income proof (ITR, salary slips, Form-16, 6 months’ bank statements).
- Credit report.
Other:
- Loan application form.
- Collateral documents (property papers, FD certificates) for secured loans.
Interest Rates & Charges
Yes Bank offers competitive interest rates with concessions for female borrowers and no prepayment penalties.
| Loan Type | Interest Rate (p.a.)* | Processing Fee | Collateral |
|---|---|---|---|
| Domestic (up to ₹40 lakh) | 10.99%–12.00% | 2% for > ₹7.5 lakh; nil for ≤ ₹7.5 lakh | Not required |
| Abroad (unsecured, up to ₹40 lakh) | 11.25%–12.75% | 2% for > ₹7.5 lakh; nil for ≤ ₹7.5 lakh | Not required |
| Abroad (secured, up to ₹1.5 crore) | 11.25%–12.50% | 2% for > ₹7.5 lakh | Required |
*Rates vary based on profile, course, and institute. Contact Yes Bank for exact rates.
Application Process
- Submit Inquiry: Fill out our quick online form.
- Expert Guidance: Connect with our loan advisor for Yes Bank options.
- Document Prep: Gather documents with our assistance.
- Application: Apply online via Yes Bank website, app, or offline at branches.
- Disbursal: Funds released post-approval, typically in 3–5 days.