Engineering is the most popular course for education loans in India. Whether it's B.Tech at an IIT or MS at a US university, StudyCapital helps engineering students get the best loan across all 8 lenders.
Engineering Loan — India vs Abroad
B.Tech in India (IIT/NIT/BITS/private): ₹4–25 lakh depending on institution. PSBs like SBI give preferential rates for IIT/NIT. Private colleges may need collateral.
M.Tech in India: ₹4–15 lakh. Loan covers fees + stipend gap.
MS Abroad (USA, Germany, Canada, UK): ₹30–80 lakh from NBFCs; up to ₹1.5 crore for top universities. GRE score above 310 helps negotiate better rates with HDFC Credila.
IIT Education Loan — Special Benefits
- ✅ SBI Scholar Loan at 8.15% p.a. — exclusively for IIT students
- ✅ No collateral required up to ₹40 lakh
- ✅ All 23 IITs covered: Delhi, Bombay, Madras, Kharagpur, Kanpur, Roorkee etc.
- ✅ Moratorium: full course + 12 months
- ✅ Section 80E tax benefit on all interest paid
Documents for Engineering Education Loan
- 📄 JEE / GATE / GRE / TOEFL scorecard
- 📄 Admission offer letter from college/university
- 📄 10th and 12th marksheets
- 📄 Co-applicant income proof (salary slip/ITR)
- 📄 KYC documents (Aadhaar, PAN, Passport)
- 📄 Bank statements (6 months)