Kotak Mahindra Bank Education Loan 2025: A Complete Guide
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Kotak Mahindra Bank offers education loan to study in India or abroad. The loan amount varies based on the candidate's eligibility. Additionally, the loan covers expenses such as tuition fees, living costs, and other related study expenses.
Not everyone has a large savings amount or a fully paid scholarship to pursue higher studies. That’s why many students borrow education loans to cover the cost of their education. Private and government banks, as well as NBFCs, offer study loans based on the eligibility criteria set by them. In this article, we will specifically focus on Kotak Mahindra Bank's education loan.
The bank offers up to INR 10 lakh for studying in India and INR 20 lakh for studying abroad to eligible students. Additionally, Kotak Mahindra Bank provides education loans for studying abroad in partnership with HDFC Credila, allowing students to borrow up to INR 75 lakh, without any collateral. Let’s know about the study loan offered by Kotak Mahindra Bank, including eligibility, how to apply and more.
- Kotak Mahindra Bank Education Loan 2025
- Kotak Mahindra Bank Education Loan Interest Rate 2025
- Eligibility for Kotak Mahindra Bank Education Loan
- How to Apply for Kotak Mahindra Bank Education Loan
- List of Documents Required for Kotak Education Loan
Kotak Mahindra Bank Education Loan 2025
Kotak Mahindra Bank is one of the selected and famous education loan providers in India. It offers student loans for both studying abroad and in India. The easy and digital application process simplifies the loan application for students. The ROI of the Kotak education loan is fixed, which means your EMI will be the same throughout the tenure. Let’s have a quick look at the study loan details:
| Overview of Kotak Mahindra Bank Education Loan |
|
|---|---|
| Loan Amount |
|
| Kotak Bank Education Loan Interest Rate |
10.25% to 16% (Based on Profile of Students) |
| Loan Coverage |
|
| Repayment Tenure |
Up to 15 years |
| Moratorium Period |
Course Duration 1 Year |
| Tax Benefits |
Income tax benefit on interest paid under Section 80E. |
| Application Process |
Students can apply online and offline |
Kotak Mahindra Bank Education Loan Interest Rate 2025
Kotak Mahindra Bank offers student loans with a fixed interest rate, which can go up to 16%. This means that your interest amount and monthly EMI will remain the same throughout the loan tenure, even if the RBI changes the repo rate. Other than this, the bank will ask you to pay other charges such as processing fee, file charge and more. Knowing these things will help you at the time of application.
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Kotak Education Loan ROI for Study Abroad
Kotak Mahindra Bank provides education loan for abroad studies in a tie-up with HDFC Credila. This study loan covers 100% of tuition fees and other expenses related to your higher studies. 10.25% is the starting ROI for student loans for abroad studies.
Useful Reads
| Best Time to Think about Finances to Study Abroad | Best Education Loan Providers |
| Student Loan Vs Self-Finance | Documents for Education Loan |
Eligibility for Kotak Mahindra Bank Education Loan
Kotak Mahindra Bank does not offer education loans to students who do not meet the eligibility criteria. All applicants must fulfill the bank’s specified requirements. Below is a point-wise breakdown of the eligibility criteria:
Eligibility for Applicants
- No Age Limit
- Must be an Indian Citizen
- Student must secure their admission in India or abroad through an entrance test.
- The applicant must have secured admission to a course or university recognized by Kotak Mahindra Bank
Eligibility for Co-Applicants
- Co-applicants must be older than 21 years and younger than 70 years.
- Must be an Indian Citizen
How to Apply for Kotak Mahindra Bank Education Loan
There are two ways to apply for a Kotak student loan to cover the expenses of higher studies in India and abroad. online through the official Kotak Mahindra Bank website or by visiting the nearest bank branch. Below is a step-by-step guide for both application processes:
Online Application Process
- Visit the official website of Kotak Mahindra Bank.
- Navigate to the Education Loan section.
- Click on the “Apply Now” button and then fill up the personal details of the students.
- Fill out the details of personal, academic, and financial information.
- Upload the necessary documents, such as identity proof, admission letter, academic records, and income proof.
- Review the details and apply.
After this, the bank representative will call you, and then you’ll be guided throughout the process.
Offline Application Process
- Visit the nearest branch of Kotak Mahindra Bank and ask for the “Student loan” application form.
- Fill out the personal and academic details of the student.
- You will need to fill up the details of co-applicants (if applicable in your case).
- From here, the process will be the same as the online application process.
List of Documents Required for Kotak Education Loan
At the time of applying for Kotak Mahindra Bank education loan, applicants need to submit some documents. These documents will be used by bank officials to verify your background before approving your student loan.
| Document Type |
Applicant |
Guarantor (Co-applicant/Co-borrower) |
|---|---|---|
| Application Form |
Required |
Required |
| Photographs |
Two recent passport-sized photos |
Two recent passport-sized photos |
| Proof of Identity |
Passport/PAN/Aadhaar Card/Driver’s License/Voter ID |
Passport/PAN/Aadhaar/Driver’s License/Voter ID |
| Proof of Residence |
|
|
| Signature Verification |
Required |
Required |
| Academic Records |
Mark sheets, certificates, entrance exam scores |
Not Required |
| Admission Proof |
Admission letter, fee structure |
Not Required |
| Proof of Relationship to Applicant |
Not Required |
Birth Certificate/Ration Card or other proof |
| Financial Documents (For salaried individuals) |
Not Required |
Salary slips (last 3 months), Form 16/ITR (last 2 years), Bank statements (last 6 months) |
| Financial Documents (For self-employed individuals) |
Not Required |
ITR (last 2 years), Business proof, GST registration, Bank statements (last 6 months) |
Education Loans By Other Banks
| Union Bank of India Education Loan | Axis Bank Education Loan |
| Axis Bank Education Loan | Avanse Education Loan |
Want any expert guidance? Contact India’s leading education loan providers through Shiksha Study Abroad. For more queries. Do write to us in the comments below. Or request a call back from our Shiksha Study Abroad Counselling Services.
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