Education Loan in Rajasthan 2025
Securing a quality education is crucial to building a bright future, but the rising costs can be a significant barrier. In Rajasthan, the demand for education loans has surged, with students increasingly turning to financial institutions for support. Rajasthan received 51 education loan applications in the recent academic year.
With tuition fees for professional courses escalating, securing an education loan in Rajasthan has become more critical than ever. This article delves into the eligibility criteria and top lenders for education loans in Rajasthan, providing a comprehensive guide to making informed financial decisions.
Education Loan in Rajasthan: Overview
Education loans have become an essential financial tool for students in Rajasthan who aspire to pursue higher education without immediate financial constraints. In Rajasthan, where education costs have been steadily increasing, these loans help bridge the financial gap for families.
Various types of education loans are available to students in Rajasthan, ranging from loans for domestic education to those for studying abroad.
Also Read: Impact of Budget 2024 on Education Loans in India
Best Banks for Education Loan in Rajasthan
When evaluating the best banks for education loans in Rajasthan, it's crucial to understand their education loan moratorium period policies, as these can significantly impact your repayment schedule and financial planning.
Best Banks for Education Loan in Rajasthan for Studies Abroad
Interest Rate for Education Loan in Rajasthan for Studies in India
Interest Rate for Education Loan in Rajasthan for Studies Abroad
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Benefits of Education Loan in Rajasthan

Below are some of the key benefits of availing an education loan in Rajasthan.
1. Affordable Financing for Higher Education
Education loans make higher education more affordable, especially as tuition fees keep rising. They are very helpful for students pursuing costly professional or technical courses like engineering, medicine, or management.
2. Flexible Repayment Options
Most education loans in Rajasthan come with easy and flexible repayment terms. Students usually start repayment after completing their course and finding a job. Banks also provide a moratorium period, which covers the study duration plus an extra 6 to 12 months before repayment begins.
3. Wide Coverage of Educational Expenses
Education loans cover more than just tuition fees. They often include hostel or accommodation charges, books, study materials, equipment, and even travel costs for students going abroad. This ensures complete financial support throughout the study period.
4. Better Career Opportunities
By removing financial barriers, education loans give students access to quality education. This allows them to choose the right course for their career goals, leading to better job prospects and higher earning potential in the future.
Documents Required For Education Loan in Rajasthan
For students in Rajasthan seeking education loans, it's crucial to be prepared with the necessary paperwork. Here's a comprehensive list of documents required for education loans, covering identity proofs, academic records, income certificates, and more to ensure a smooth application process.
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Documents Required For Secured Education Loan
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Types of Education Loans in Rajasthan
Students in Rajasthan can choose from different education loans to fund higher studies. Here are the main types:
1. Domestic Education Loans
For students studying in India. Banks like SBI, PNB, and HDFC offer these loans with interest rates starting at 4% p.a.
2. Overseas Education Loans
For students planning to study abroad. These loans cover tuition, travel, living costs, and insurance. Banks like Bank of Baroda and Axis Bank provide higher loan amounts with flexible repayment.
3. Loans for Professional & Technical Courses
For courses like engineering, medicine, and management. Loan limits are higher due to course costs. Example: SBI offers up to ₹30 lakhs for medical courses with repayment up to 15 years.
4. Government-Sponsored Education Loans
Schemes like CSIS and Dr. Ambedkar Central Sector Scheme give full interest subsidy during the study period for eligible students.
Also Read: Education Loan for Abroad Studies in 2024: A Comprehensive Guide
Rajasthan Minority Finance & Development Co-operative Corporation Educational Loan Scheme
The Rajasthan Minority Finance & Development Co-operative Corporation (RMFDCC) offers an educational loan scheme to support students from minority communities pursuing higher education.
Here’s an overview of the scheme.
Family Income Category Under the RMFDCC Educational Loan Scheme
The RMFDCC Educational Loan Scheme offers loans based on family income. The scheme has two credit lines:
Credit Line 1
- For families with income below ₹81,000 (rural) or ₹1,03,000 (urban) per year.
- Interest rate: 3% per year for both male and female students.
Credit Line 2
- For families with income up to ₹6 lakhs per year.
- Interest rate: 5% for female students, 8% for male students.
- Introduced in September 2014 under the OBC “Creamy Layer” category.
RMFDCC Educational Loan Scheme: Eligibility Criteria
To qualify for the loan, you must meet specific criteria related to your background, the course you wish to pursue, and your financial status.
Here’s a table highlighting the eligibility criteria.
RMFDCC Educational Loan Scheme: Documents Required
When applying for the RMFDCC Educational Loan Scheme, you must provide various documents to support your application. These documents are crucial for verifying your eligibility, financial status, and admission details.
Here’s a comprehensive list of the required documents.
1. Proof of Identity (AADHAR Card, Voter ID, or Driver's Licence)
2. Income Certificate
3. Proof of Minority Status
4. Proof of Residence
5. Post Dated Cheques (20 cheques) or instalment wise
6. Self-guarantee deed (INR 500 non-judicial Stamp)
7. Fee Schedule properly signed by an appropriate authority
8. Passport Size Photographs
9. Documents related to the guarantor (parent/guardian), including their ID proof and income details.
How to Apply for the RMFDCC Educational Loan Scheme

The application process for the RMFDCC Educational Loan Scheme is completed offline. Here are the detailed steps.
1. Visit the Official Website
- Go to the official website of the Department of Minority Affairs & Waqf, Rajasthan.
2. Download the Application Form
- Navigate to the ‘Downloads’ tab and select ‘Forms.’
- Click on ‘Application for Education Loan’ to download the form.
3. Fill Out the Form
- Complete the application form with accurate details.
4. Submit Your Application
- Visit the office of the nodal officer for the Department of Minority Affairs & Waqf, Rajasthan.
- Submit the completed form along with all required supporting documents.
Rajasthan Marudhara Gramin Bank Education Loan Scheme
The Rajasthan Marudhara Gramin Bank (RMGB) offers an education loan scheme designed to support students pursuing higher education. This scheme provides financial assistance to cover various educational expenses.
The loan aims to support students from rural and semi-urban areas in Rajasthan, helping them pursue undergraduate, postgraduate, and professional courses in India and abroad.
Also Read: Apply for a Student Loan in India for UG Program
Rajasthan State Co-operative Bank (RSCB) Education Loan Scheme
The Rajasthan State Co-operative Bank (RSCB) provides educational loans to support students in pursuing higher education. This scheme aims to make quality education more accessible by offering financial assistance for various academic programs.
Here’s a detailed overview of key features of the RSCB Education Loan Scheme.
RSCB Educational Loan Scheme: Eligibility Criteria
To be eligible for this scheme, both the applicant and the co-applicant must meet specific requirements. Below is a detailed breakdown of the eligibility criteria.
RSCB Educational Loan Scheme: Documents Required
When applying for the RSCB Educational Loan Scheme, you must provide certain documents supporting your application. These documents help verify your identity, residency, financial status, and educational details.
Here’s a list of the required documents.
1. An application that is fully completed and signed
2. Any document serving as identification and age proof (such as a voter ID card, passport, valid driver's licence, or Pan card)
3. Proof of Address and Signature: Any document (Voter ID card, valid driver's licence, valid passport, utility bill (no older than two months for electricity, phone, and mobile)
4. Bank statement (monthly statement no older than three months)
5. Connection Proof with the Co-Applicant
6. Recent Passport-size pictures
7. The applicant's proof of education includes Mark sheets from regular classes, such as 10th, 12th, diploma, graduation, etc.
8. Admission evidence verifying the applicant's admission, the tuition cost, the course fee specifics, the course's length, etc.
9. Proof of guarantee documentation
10. Passport Copy
11. Mark sheets or certificates obtained from qualifying exams such as the GRE, GMAT, SAT, TOEFL, and other English proficiency assessments.
12. Form 16 and recent salary slips (latest six months)
In Rajasthan, education loans have become crucial, providing students with the financial support needed to pursue higher education domestically and abroad. With various schemes such as the RMFDCC, Rajasthan Marudhara Gramin Bank, and Rajasthan State Co-operative Bank offering tailored financial assistance, students can access funds to cover tuition fees, living expenses, and more.