RBL Bank Education Loan (India)
RBL Bank's education loan for study in India carries a floating interest rate of 9.25% to 9.75%, a processing fee of 2%, and no prepayment penalty (0%). It is a secured loan, funding up to 100% of eligible cost, with a loan amount up to ₹2 Cr (secured against property or an RBL fixed deposit) and a tenure of up to 180 months. Features include a moratorium option, Section 80E tax benefit on interest paid, and balance-transfer with fee-refinance available.
Required documentation includes the application form, ID and age proof, address and signature proof, relationship proof with the co-applicant, a passport photograph, course or admission proof, educational marksheets, financial documents tiered by the co-applicant's employment type, collateral documents, and repayment track record where applicable. RBL Bank was established in 1943 and is headquartered in Mumbai. Minimum loan amount, minimum tenure, minimum CIBIL score, age, salary, and employment type criteria are not published for this product.
At 9.25%, RBL Bank has one of the lowest starting rates of the 7 lenders we track for education loans (india).
Eligibility
Loan terms
- Up to 100% of eligible cost funded
- secured loan up to ₹2 Cr (Property or RBL FD)
- moratorium option
- floating rate
- tenure up to 180 months
Documents
- Application form
- ID & Age proof
- Address & Signature proof
- Relationship proof with co-applicant
- Passport photo
- Course/admission proof
- Educational marksheets
- Financial docs tiered by co-applicant employment type
- collateral documents
- repayment track record if any
Fees & charges
Tax: interest paid is deductible under Section 80E with no upper cap, for up to 8 years. Confirm with a tax adviser.
FAQ
After the moratorium — course duration plus 6 to 12 months. Interest accrues during study; paying simple interest through the moratorium reduces your later EMI.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.