Education Loan Without Collateral: Top 10 Banks & NBFCs in India
13 min read17 March 2026
Financial Disclaimer
Disclaimer: This information is for educational purposes only. Always consult a certified financial advisor before making any financial decision.
Study Without Pledging Property
Education loans without collateral (unsecured education loans) are available for amounts up to ₹7.5 Lakh from most public sector banks, and up to ₹40 Lakh from NBFCs for studying abroad.
Under the Vidyalakshmi Portal (Government of India), students can apply to multiple banks simultaneously for education loans.
Top Unsecured Education Loan Providers
| Lender | Max Amount (No Collateral) | Interest Rate | Moratorium |
|---|---|---|---|
| SBI Education Loan | ₹7.5 Lakh | 8.15% - 10.65% | Course + 1 year |
| HDFC Credila | ₹20 Lakh | 9% - 13.5% | Course + 6 months |
| Avanse | ₹40 Lakh | 10.5% - 15% | Course + 6 months |
| InCred | ₹30 Lakh | 11% - 16% | Course + 6 months |
| Prodigy Finance | ₹60 Lakh | Variable | Course + 6 months |
Student Tips
Apply through the Vidyalakshmi portal first. If your admission is in a top-ranked university (QS Top 200), NBFCs will offer unsecured loans even for higher amounts. Always compare the total cost including processing fees.