Key takeaways
- GyanDhan offers all kinds of education loans, including collateral loans, non-collateral loans, and international loans, making it easier for students to access funds.
- Loan approvals are processed within 7-10 working days, with flexible repayment options that allow students to pay at their own pace.
- GyanDhan provides education loans up to INR 2 Cr for collateral loans, and up to INR 1 Cr for non-collateral loans, helping you cover tuition fees and living expenses.
- Apply for a GyanDhan loan through the Edvoy app for a seamless, digital loan application process.
If you're looking for education loans, check out Funds to get pre-approved loans in just 3 days!
Pursuing higher education abroad is a life-changing decision, but it comes with its own set of challenges. One of the biggest obstacles students face is financing their education. Without a co-applicant or collateral, securing a loan can seem like an impossible task. But this is where Edvoy and GyanDhan make things easier for you.
GyanDhan, one of the leading platforms for education loans in India, specialises in helping students secure financing for studying abroad. Whether you’re aiming to study in the UK, Canada, the USA, or any other destination, Edvoy and GyanDhan have partnered to offer comprehensive loans for college students across the globe.
Meanwhile, at Edvoy, we help you study abroad by providing end-to-end assistance, from university application support to visa application assistance, funding advice, and more. Together with GyanDhan, we offer a complete solution, making it easy for you to choose a university and get the necessary financial aid. Keep reading for more insights.
Table of Contents
- How Edvoy and GyanDhan make education loans simple
- Features of GyanDhan education loan
- How to apply for the GyanDhan education loan through Edvoy
- GyanDhan loan eligibility criteria
- Documents required for the loan application
- Frequently asked questions
How Edvoy and GyanDhan make education loans simple
Seamless and fully digital loan application
Together with GyanDhan, we’ve streamlined the loan process to ensure a smooth experience for you. We connect you with GyanDhan’s wide platform of lenders who offer loans with flexible terms.
You can complete your loan application digitally, meaning no more visits to the bank or endless paperwork. This makes applying for an education loan more accessible and less time-consuming.
Flexible interest rates and discounts
GyanDhan offers international student loans up to INR 1 Cr (non-collateral loans) and up to INR 2 Cr (collateral loans). International loans can also go up to USD 100,000. Depending on your choice of study, we help you evaluate these rates and repayment terms. Here are the details for each type of loan:
| Type of loan | Loan amount | Interest rates |
|---|---|---|
| Collateral loan | INR 2 Cr | 8.5% to 11% |
| Non-collateral loan | INR 1 Cr | 9.25% to 12% |
| International loan | Up to USD 100,000 (International lender) | 11% to 13% (International lenders) |
Source: GyanDhan
Quick processing and flexible repayment terms
The loan approval process is quick and efficient. GyanDhan typically processes loans within 7 working days. Once approved, you’ll have access to flexible repayment terms, making it easier to manage your finances after your studies are complete. GyanDhan also offers repayment plans, allowing you to pay at your own pace.
Repayment flexibility
GyanDhan offers a loan repayment system through simple interest. You’ll start making your payments after 6 months of course completion. You’ll pay only the interest until graduation, plus an additional grace period. However, the interest may accrue, depending on the loan terms.
Features of GyanDhan education loan
| Feature | Description |
|---|---|
| Loan amount | Up to USD 100,000, depending on the type of loan |
| Rate of interest | 8.5% to 11% (for collateral loans) 9.25% to 12% (for non-collateral loans) 11% to 13% (for loans from international vendors) |
| Co-applicant’s minimum income | At least INR 5 lakhs annual income |
| Processing fees | 0.75% to 1% of the sanctioned amount |
| Processing time | Within 7 working days |
| Moratorium period* | Course duration + 6 or 12 months (varies) |
| Repayment tenure* | 15 years |
| Monthly instalments during the course | Simple interest |
*Margin money is the amount of money that a borrower needs to contribute towards the loan, while the remaining amount is paid by the lender.
*Moratorium period is the time duration during which you’re not required to make payments toward your education loan.
Learn more about student loans from the Funds section of our app.
How to apply for the GyanDhan education loan through Edvoy
To apply for an education loan through Edvoy, follow these steps:
- Head to the Edvoy app and select Funds under the Explore page.
- Select the Get Started button. You’ll be taken to a page where you need to fill in your requirements.
- Add the loan amount (you can include both tuition fees and living expenses), the type of loan required and your PAN details (if you’re an Indian citizen).
- Once you submit your details, they will be shared instantly with the fund providers. You can expect a callback within 24 hours regarding further steps and document submission.
- You can check your application status in the Status tab.
- The loan processing time is typically within 7 working days.
Also read: What is Edvoy Funds? What are the types of funds provided?
GyanDhan loan eligibility criteria
- The loan borrower must be aged 18+
- The borrower must have a strong academic background and confirmed admission to the university before the loan disbursement
- You should be an undergraduate or graduate student within 2 years of graduating or about to begin a 1-year or 2-year programme
- The borrower must meet GyanDhan’s credit and underwriting norms as applicable from time to time
- The eligible courses for the loan include STEM & Management in graduate degrees, post-graduate degrees, diplomas, certificates, and doctorate courses offered by foreign institutes and universities
Note: Conditions apply. All education loans from GyanDhan are credited at the sole discretion of GyanDhan.
Check out 'Funds' on our app for a pre-approved student loan!
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Documents required for the loan application
From the applicant (student)
- Identity & address proof: PAN card, Aadhaar card, Passport
- Academic documents: 10th and 12th class mark sheets, entrance exam results (GRE/GMAT/TOEFL/IELTS/SAT/ACT/others), admission/offer letter
From the co-applicant/co-signer
- Identity & address proof: PAN card, Aadhaar card, current & permanent address proof, Passport ( If applicable )
Note: A co-applicant/co-signer is typically a parent or guardian who supports the student’s education loan application.
Financial documents
If the co-borrower is salaried:
- Last 3 months’ salary slips
- Form 16/IT returns (3 years)
- Bank statement (6 months)
If the co-borrower is self-employed:
- Business proof (GST/MSME/utility bill)
- TDS certificate (if applicable)
- IT returns (3 years)
- Professional qualification certificate (if applicable)
- Bank statements (6-12 months, current & savings)
For collateral documents (if applying with property/security)
- Title deed & sale deed
- Registration receipt
- Allotment letter (if applicable)
- Chain documents (13 years)
- Property tax receipt/recent electricity bill
- Government-approved building plan
- Occupancy & completion certificate (if applicable)
Want to study abroad with financial support? Connect with us and begin your journey. Right from your loan application to disbursement, Edvoy helps you achieve your study-abroad dreams.
Additionally, we at Edvoy also offer end-to-end assistance throughout the study-abroad process, including university selection assistance, application guidance, visa application support, and more. Discover the perfect course and university to boost your education.
Get started with your journey and talk to one of our counsellors today!
Frequently asked questions
Can I apply for a GyanDhan loan if I’m a first-year student?
Yes, GyanDhan loans are available for students who have secured admission to their chosen university, whether you're in your first year or about to start your postgraduate studies.
What happens if I can’t start repaying my loan immediately after my course?
GyanDhan offers a moratorium period, allowing you to begin repayment up to 6 months after completing your course. You’ll only be required to pay interest during this time, which provides you with some financial breathing room.
Can I use a GyanDhan loan to cover living expenses abroad?
Yes, GyanDhan loans can cover both tuition fees and living expenses, making it easier to manage your finances while studying abroad.
Do I need a co-signer to apply for a GyanDhan loan if I’m an international student?
No, GyanDhan offers student loan options without the need for a co-signer or collateral, making it easier for international students to secure funding for their studies.
