Crystal Finance Logo

Invest in Your Future. Fund Your Education.

Hassle-free education loans with competitive rates and flexible repayment options. Let us help you achieve your academic dreams.

Eligibility & Application Process

person

Applicant Eligibility

Indian citizen, 18+ years of age, with confirmed admission in a recognized institute.

school

Eligible Courses

Undergraduate, postgraduate, and professional courses in India and abroad.

description

Simple Application

Fill our online form, upload necessary documents, and get a quick approval.

Why Choose Our Education Loan?

percent

Competitive Interest Rates

Starting from just 8.5% p.a. to make your education affordable.

currency_rupee

Up to 100% Financing

Cover tuition fees, accommodation, books, and other expenses with zero margin.

schedule

Flexible Repayment

Enjoy a moratorium period (course duration + 1 year) and repay up to 15 years.

credit_score

Tax Benefits

Avail tax deductions on interest paid under Section 80E of the Income Tax Act.

Interest Rates & Fees

Course Location Interest Rate (p.a.)
Studies in India 8.50% onwards
Studies Abroad 9.25% onwards
Skill Development 8.75% onwards

Processing fees: Up to 1% of the loan amount + applicable taxes. No collateral required for loans up to ₹7.5 Lakhs.

Required Documents

Gathering the right documents is the first step towards a successful loan application. Here's a comprehensive checklist.

person_outline

Student Applicant Documents

  • Proof of Identity: PAN Card, Aadhaar Card, Passport, or Driving License.
  • Proof of Address: Aadhaar Card, Utility Bill, or Rental Agreement.
  • Academic Documents: Mark sheets and passing certificates for SSC, HSC, and Degree courses.
  • Proof of Admission: Admission letter from the educational institute.
  • Completed and signed Loan Application Form.
  • Two recent passport-size photographs.
account_balance_wallet

Financial Documents

  • Bank Statements: Last 6 months' bank account statements of the student and/or co-applicant.
  • Proof of Income (Salaried): Latest salary slips, Form 16, and Income Tax Returns (ITR) for the last 2 years.
  • Proof of Income (Self-Employed): Business address proof, ITR for the last 2 years, Balance Sheet, and P&L account statement.
groups

Co-Applicant / Guarantor Documents

  • Proof of Identity and Address: Same as student applicant (PAN, Aadhaar, etc.).
  • Financial Documents: Proof of income as applicable (salaried or self-employed).
  • Asset-Liability Statement, typically provided by the bank.
add_box

Additional Documents (If Applicable)

  • Collateral Documents: For loans above ₹7.5 Lakhs, legal documents of the property or details of other securities.
  • Statement of Cost of Study: Schedule of expenses for the entire course, provided by the institute.
  • Gap Certificate: A self-declaration on a stamp paper if there is a gap in studies.

Frequently Asked Questions

Who can be a co-applicant for the education loan? expand_more
A co-applicant is mandatory for all full-time courses. This can be your parent(s), spouse, or legal guardian. In some cases, other blood relatives can also be co-applicants.
What is a moratorium period? expand_more
The moratorium period is a grace period during which you are not required to make any loan repayments (EMIs). It typically covers your course duration plus an additional 6 to 12 months, allowing you time to find employment.
Do I need to provide collateral for the loan? expand_more
Collateral is not required for education loans up to ₹7.5 Lakhs. For higher loan amounts, you may need to provide collateral such as residential property, fixed deposits, or other approved securities.