Education Loan for BCom Students 2025: Banks & Rates Guide

A Bachelor of Commerce (BCom) is one of the most popular undergraduate degrees in India, opening pathways to a wide range of careers, but students face expenses like tuition fees, coaching fees, hostel/mess charges, books, devices, and living costs.

An education loan for BCom students helps you cover these expenses comfortably, so you can focus on college, internships, exams, and career-building instead of financial pressure.

Key Takeaways

BCom students can get education loans up to ₹40 lakh without collateral and up to ₹1.5–2 crore with collateral, depending on lender policies.
Interest rates start from around 8% with government banks (and as low as 6.90% under SBI's Scholar scheme for premier institutes), and range between 11%–16% with private banks and NBFCs.
BCom education loans cover tuition fees, hostel or PG charges, books, laptops, exam fees, coaching, travel, and living expenses.
Eligibility requires confirmed admission to a recognised BCom program and a co-applicant with stable income.
Repayment tenure is flexible, extending up to 15 years after the moratorium period.

Education Loan for BCom Students: Overview

Here is an overview of BCom education loans offered by different lenders in India and abroad to help you make an informed decision before applying for an education loan.

Category	Details
Limit of loan amount	• Up to ₹40 lakh unsecured • Up to ₹2 crores secured
Expenses covered by the loan	Academic: • Examination, Library, or Laboratory fees • Tuition and Fees payable to the institute • Living expenses, including hostel fees • Purchase of books, Equipment, or Uniforms Additional: • Travel expenses • Purchase of computers or laptops • Cost of health insurance
Moratorium Period	Duration of the course plus 12 months
Interest rate	• Starts from around 8% (public banks); as low as 6.90% under SBI's Scholar scheme for premier institutes
Repayment Duration	15 years, including the moratorium period
Co-applicant	Parents, spouse, siblings, and parent-in-law
Value of collateral	• Liquid security: 1.1 times the requested loan amount • Immovable property: 1.25 times the requested loan amount

For a detailed understanding of education loans for undergraduate students, check our guide.

‍Also, if you’ve taken an education loan for BCom in India, you can avail of the tax benefits under Section 80E to ease your financial burden.

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Get Education Loan 10X Faster than Banks

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‍Education Loan for BCom Interest Rates 2025

Here's a comparison of education loan offerings for BCom students from various lenders. Interest rates of education loans vary between roughly 8% to 16%, depending on the lenders and applicant profiles.

Lender	Interest Rate (per annum)
SBI (State Bank of India)	8.15% onwards (from 6.90% under Scholar scheme)
Bank of Baroda	8.55% onwards
PNB (Punjab National Bank)	8.75% onwards
Canara Bank	8.65% onwards
Axis Bank	11% onwards
ICICI Bank	10.75% onwards
IDFC FIRST Bank	10.75% onwards
Propelld	11% – 16% (profile-based)

Looking for a detailed comparison of interest rates? Check our Education Loan Interest Rates Guide. Propelld offers transparent, low student loan interest rates starting at 11%. Check our interest slabs and APR Policy.

Additional Notes:

Female applicants can get a 0.5% girl-student concession on BCom student loans offered by several banks.
Many public sector banks require 5–15% margin money, which increases the upfront cost for students. However, NBFCs like Propelld offer 0% margin money, making them a better fit for students.
BCom educational loans can be repaid over flexible durations. So, you can compare the total EMI and repayment burden using our online Education Loan EMI calculator.

Loan Amounts Offered for BCom Students in 2025

Here’s how much you can get if you apply for an education loan for BCom course:

Loan Type	Loan Amount
Without Collateral	Up to ₹40 lakh
With Collateral	Up to ₹2 crore
NBFC Digital Loans	Up to ₹40 lakh

NBFCs like Propelld also offer attractive loan amounts with customised education plans. We are not joking; you can check the full cost breakdown in our Transparency Policy.

Expenses Covered

Most lenders cover:

Tuition fees
Hostel/PG/mess charges
Exam and registration fees
Books, a laptop, and study materials
Coaching and training programs
Transport and travel

Before you apply, make sure you meet the lender’s basic eligibility requirements for loans for BCom programs.

Eligibility for Education Loan for BCom Students

Banks offering an education loan for undergraduate programs, including BCom, have the following eligibility requirements that applicants must meet:

Student Eligibility

Must be an Indian citizen
Must have passed Class 12
Admission to a recognised BCom program (regular/full-time)
Minimum 50% marks in the previous examination (may vary by lender)

Co-applicant Eligibility

Parent / guardian / spouse
Stable income (salaried or self-employed)
CIBIL score of 650+ preferred

Collateral Requirements

No collateral required for loans up to ₹7.5 lakh
For higher loan amounts, property, fixed deposits, or insurance policies may be required

Education Loan for BCom Students Documents Checklist

1. Application Form

Filled form
Two passport-size photos
Signature

2. KYC Documents

Aadhaar/PAN/Passport/Voter ID
Address proof

3. Proof of Admission

College admission letter
Fee structure

4. Income Documents

Salary slips (3 months)
Bank statements
ITR/Form 16

5. Collateral Documents (If applicable)

Property papers
Encumbrance certificate
Tax receipts

Check out the exhaustive list of documents required to apply for an education loan in India.

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‍Minimal Documentation. Higher Chances of Approval.

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How to Apply for an Education Loan for BCom Students?

You can apply for a BCom education loan in India or abroad using both online and offline modes. However, remember that banks take around 3–15 days to process applications, while NBFCs may offer faster approval within 24–72 hours.

Here’s the application process:

Online Process

Offline Process

Online Application Process

Visit the official website of the bank or NBFC and go to the education loan section.
Click on “Apply Now” or the relevant option to start your application.
Select the appropriate BCom education loan scheme.
Fill in your personal, academic, and financial details carefully.
Upload scanned copies of all required documents.
Submit the application and note down the registration ID (if generated).
Wait for the lender to review your application and share approval or disbursement updates.

Offline Application Process

Visit the nearest branch of your chosen bank.
Collect the education loan application form from the branch.
Fill out the form with all required details.
Attach physical copies of necessary documents and submit them at the branch.
Pay applicable processing or documentation fees, if any.
Attend in-person verification or interviews if required.
Follow up with the branch for approval status and loan disbursement.

Do you still have questions about the application process? Here's the complete process for applying for an education loan in India.

While loans are a great support system, scholarships can further reduce your financial burden.

Types of Education Loan for BCom Students

Usually, there are two types of education loans available for students. You can choose any one of them based on the loan amount, interest rates, and other factors. ‍

Secured vs. Unsecured Education Loans: A Quick Comparison

Here’s a quick difference between the collateral-free loans and loans with collateral for your better understanding:

Criteria	Secured Loans	Unsecured Loans
Collateral Requirement	Requires collateral (property, FD, assets)	No collateral needed; a co-applicant is usually required
Loan Amount	Up to ₹2 crore	up to ₹40 lakh
Interest Rates	Lower	Higher
Eligibility	Based on collateral + academics	Based on credit score, income, and academics
Loan Approval Time	Longer due to collateral evaluation	Faster approval
Risk for Lenders	Low	High
Preferred For	High-value loans / abroad studies	Low–moderate amounts / domestic education
Govt. Subsidy	Often eligible	May not qualify

‍Don’t have anyone who fulfils these criteria in your immediate family or friends circle? No problem. Learn how to get an education loan in India without a co-applicant.

Now, let’s see what financial benefits are available for BCom students.

Government Education Loan Schemes for BCom Students

BCom students can benefit from various government-backed education loan schemes for commerce students in India, such as:

Central Sector Interest Subsidy Scheme (CSIS): Provides full interest subsidy during the moratorium for students from families earning below ₹4.5 lakh per year (for studies in India).
Vidya Lakshmi Portal (VLP): A single-window portal where students can apply to multiple banks for education loans with one common application.
PM Vidyalaxmi Scheme: A central scheme offering collateral-free, guarantor-free loans and interest subvention for meritorious students admitted to top institutions in India.
Dr. Ambedkar Central Sector Scheme (OBC/EBC): Offers subsidised education loans and interest benefits for OBC and EBC students pursuing higher education.
NSFDC Education Loan (SC Students): Low-interest loans for Scheduled Caste students with flexible repayment and relaxed credit requirements.
NBCFDC Education Loan (OBC Students): Provides concessional loans for OBC students for undergraduate and professional courses.
State Government Fee Reimbursement Schemes: Most states offer fee reimbursement and scholarships for BCom students based on income and category.

Top Scholarships for BCom Students

Here are some common scholarship options BCom students can explore:

INSPIRE Scholarship – Offers financial support to Class 12 toppers pursuing commerce degrees.
NSP Post-Matric Scholarships – Government-funded aid for SC/ST/OBC/EWS students across states.
Reliance Foundation Scholarship – Merit-cum-means scholarship for high-performing commerce students.
Aditya Birla Scholarship – Prestigious merit scholarship for top commerce students in selected institutions.

If you’re not eligible for scholarships and already have a high-interest private BCom education loan, you can transfer it to a lower-cost bank or NBFC (balance transfer) after some months of repayment. Read our complete guide on education loan refinancing to learn how it works.

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Not Approved by Banks? We've Got You Covered

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Choosing the right education loan can make your BCom journey far smoother, and Propelld helps you get there with ease. With a 100% digital process, faster approvals, flexible no-collateral options, and coverage for tuition, hostel, coaching fees, and essential academic expenses, we ensure your BCom degree is never held back by financial constraints.

If you want clarity on timelines and processing standards, you can also check our Service Standards (SLA) Policy for sanction and disbursal benchmarks.

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FAQs About Education Loan for BCom Students

What is an education loan for BCom students in India?

It is a loan provided by banks or financial institutions to help students cover the cost of pursuing a B.Com degree, including tuition fees, exam fees, and other academic-related expenses.

Which banks offer education loans for B.Com students in India?

Many banks, including SBI, HDFC Bank, ICICI Bank, Axis Bank, Bank of Baroda, and Bank of India, provide education loans for B.Com students.

What is the maximum loan amount available for BCom students?

The maximum loan amount can vary by bank. Typically, collateral-free loans go up to around ₹40 lakh, while secured loans can go up to ₹1 crore or more, depending on the financial institution.

Do I need collateral for an education loan for BCom studies?

Collateral is usually required for loans above ₹7.5 lakh. However, some banks and NBFCs may offer loans without collateral for smaller amounts, depending on the applicant's and co-applicant's financial background.

What expenses are covered under an education loan for BCom students?

These loans cover a wide range of expenses such as tuition fees, library fees, examination fees, hostel or accommodation charges, and the purchase of books, laptops, and other study-related materials.

What are the eligibility criteria for BCom education loans in India?

The applicant must be an Indian citizen, have secured admission to a recognised institution, and generally require a co-applicant (parent/guardian) with a steady income. Age limits may vary by bank.

What is the interest rate for education loans for BCom students in India?

Interest rates typically range from around 8% to 16%, depending on the bank, NBFC, and loan amount. Some banks offer concessional rates for female students or students studying at premier institutions (as low as 6.90% under SBI's Scholar scheme).

What is the repayment period for an education loan for BCom courses?

The repayment tenure generally ranges from 7 to 15 years, depending on the loan amount. Most banks offer a moratorium period of the course duration plus an additional 6 months to 1 year.

Is there a moratorium period for education loans for BCom students?

Yes, most banks offer a moratorium period, which is the course duration plus an additional grace period of 6 months to 1 year after course completion or until the student secures a job.

What documents are required to apply for an education loan for BCom Students?

Commonly required documents include admission proof, the institution's fee structure, academic records, identity and address proof, a co-applicant's income proof, and collateral documents (if applicable).

What is the processing time for an education loan for BCom Students?

The processing time usually takes between 7 to 15 working days after submitting all required documents with banks, though NBFCs can be faster.

Are there any tax benefits for BCom students on an education loan?

Yes, under Section 80E of the Income Tax Act, the interest paid on an education loan is eligible for a tax deduction. This benefit can be claimed for up to 8 years or until the interest is fully paid.

Can I apply for an education loan before securing admission to a B.Com course?

You can begin the loan application process, but most banks require proof of admission to a recognised institution before disbursing the loan.

Do banks provide any concessions for female students pursuing a B.Com degree?

Some banks, like SBI and others, offer a 0.5% interest concession for female students applying for education loans.

Can I get an education loan for BCom students if I study at a private institution?

Yes, loans are available for students pursuing B.Com at both government and private institutions, as long as the institution is recognised by relevant regulatory authorities.

What happens if I am unable to repay the education loan on time?

In case of repayment default, banks may impose penalties or additional interest charges. For loans with collateral, banks may take legal action to recover the outstanding loan amount. The borrower’s credit score will also be affected.

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