Who can apply
- Indian resident
- Age 21 to 60 years
- Salaried or self-employed with regular income
- Minimum monthly income of ₹15,000
- A credit history that meets each lender’s policy
Personal loan for education
A personal loan for education, for any course.
Fees, a laptop, a short course or a certification. For a full degree, also compare a dedicated education loan. Share your details once and our team will connect you with RBI-regulated lenders.
- Usually no collateral
- No fee to apply
- Never pay upfront
What it can cover
Where the money can go.
A personal loan is paid into your bank account, so you decide how to use it.
Course and exam fees
Tuition, exam and admission fees.
Laptop and study material
Devices, books and software.
Short courses
Certifications and skill programmes.
Hostel and living costs
Rent, food and travel while you study.
Plan it well
Three things to do first.
Compare an education loan
For a degree, an education loan often has a moratorium until the course ends, and its interest can qualify for a deduction under Section 80E.
Match EMIs to your plan
Pick EMIs you can pay while you study or soon after.
Pay the institute directly
Where you can, pay fees straight to the institute and keep the receipts.
Before you borrow
Personal loan or education loan?
An education loan is made for degrees, often with a moratorium until you finish, and students at eligible institutions can check PM-Vidyalaxmi for a collateral-free one. A personal loan is quicker and works for any course, but EMIs usually start straight away.
- Personal loan: any course, any institute, usually faster
- Education loan: built for degrees; interest can qualify for a Section 80E deduction in the old tax regime
- Compare the APR and total cost before you choose
Example EMI
₹9,964 /month
For ₹3,00,000 over 36 months at an example rate of 12% a year. Not an offer; fees not included.
Plan your EMIEligibility
Who can apply and what you need.
Each lender sets its own criteria. Keep these handy; you won’t need to upload them on Firstfund.
Documents lenders usually ask for
- PAN card
- Aadhaar (for KYC, with your consent)
- Bank statements for the last 3 months (salaried) or 6 months (self-employed)
- Salary slips (salaried) or ITR (self-employed)
- Address proof, if different from Aadhaar
Good to know
Your rights as a borrower.
A Key Fact Statement before you sign
The lender must give you a Key Fact Statement with the APR, every fee and the repayment schedule before you sign. It stays valid for at least three working days, and a fee that isn’t in it can’t be charged without your consent.
Prepaying a floating-rate loan
For floating-rate personal loans sanctioned or renewed from 1 January 2026, lenders can’t charge a fee to prepay. Most personal loans have a fixed rate, so check the prepayment terms in the KFS.
Never pay to get a loan
Firstfund doesn’t charge you to apply. A real lender pays the loan into your own bank account, deducts any processing fee shown in the KFS, and never asks for money upfront.
Based on Reserve Bank of India directions on Key Facts Statements (2024), pre-payment charges (2025) and digital lending (2025). Your lender’s KFS and loan agreement have the final terms.
Questions
Education: FAQs.
Can a parent take the loan for a child’s fees?
Yes. The loan is in the parent’s name and the parent repays it.
Can I use it to study abroad?
Yes, for costs like fees, visas and travel. For large amounts, also compare an education loan.
Do EMIs start while I’m still studying?
With a personal loan, yes: EMIs usually start the month after the money is paid out. Education loans often let you wait until the course ends.
Does Firstfund charge me anything?
No. Sharing your details with Firstfund is free. Lenders may charge a processing fee, which they must show in the Key Fact Statement.
Other uses
Borrow for what matters to you.
Your next step
Ready for your next step?
Share your details once. Our team will connect with you about the next steps.
Apply now
Free. Firstfund never asks for an upfront payment.