PSU
Indian Overseas Bank Education Loan
With the Indian Overseas Bank Education Loan, enjoy interest from 9.5%, a smooth online process, and simple repayment options that fit your budget.
Partner lender
Indian Overseas Bank
With the Indian Overseas Bank Education Loan, enjoy interest from 9.5%, a smooth online process, and simple repayment options that fit your budget.
Rate from
9.5%
Max amount
₹3 Cr
Collateral
optional
Processing
Profile dependent — typically after complete documentation
Key highlights
- Indicative rates from ~9.5% p.a. (profile dependent)
- Loan amounts commonly up to ₹3 Cr
- Public sector education loan options
- Confirm latest rates and eligibility with a Subraxo counselor before applying
Overview
With the Indian Overseas Bank Education Loan, enjoy interest from 9.5%, a smooth online process, and simple repayment options that fit your budget.
Eligibility
(supported by Govt. of India) Enter your registered Email address to login Proceed Not have an account? Signup here Submit Resend OTP Check Your Eligibility Connect with us +91 988 988 10 70 (only for Indian users) By subject Arts Scholarships Architecture Scholarships Sports Scholarships Engineering Scholarships Law Scholarships MBA scholarships Undergraduate Scholarships Masters Scholarships PhD Scholarships Post-Doc Fellowships Scholarships for women Postgraduate scholarships By country of interest US Scholarships UK Scholarships Germany Scholarship Australia Scholarships Canada Scholarships Ireland Scholarships France Scholarships New Zealand Scholarships Netherlands Scholarship Education Loans Education Loan SBI Education Loan Bank of Baroda Education Loan Avanse Education Loan Canara Education Loan Incred Education Loan Punjab National Bank Education Loan Auxilo Bank Education Loan ICICI Bank Education Loan VidyaLoans Tools Education Loan EMI Calculator INR to USD Loan Calculator Loan Take over calculator Tax Rebate Calculator Loan Eligibility checker Connect with us +91 988 988 10 70 (only for Indian users) We're hiring! About us Blog Testimonials FAQs Contact us Feedback Terms & Conditions Privacy Policy Media coverage Sitemap Partner Login International Campus Delegate Program Consultancy Preferred Partners Report a error
Documents required
For an education loan with Indian Overseas Bank, some of the documents that are necessary to attach include the following. These documents help the bank to gather all the information needed to evaluate and sanction the loan application. The following table shows the list and details of the documents required for the loan application process such as application form, identification proof of applicant and co-applicant, proof of income, academic documents, and any other document that might be required. Also, collateralized loans might require state-specific collateral documents in some cases. Parameter Details Basic documents for Applicant (student) and co-applicant and/or Guarantor The Indian overseas application form is given to you by the Subraxo financial officer. (filled in) PAN card as proof of identity (Also, the passport if going abroad) Proof of residency: Voter ID card Aadhar card Electricity bill Bank account statement Passport Telephone bill Note: In case the applicant has a different permanent and current address, two proofs are needed. 4. Bank account statement for the past six months (Salary/Personal) Bank account statement for the last 6 months (Personal/ Salary). 5. If the co-applicant is self-employed, 1 year's worth of business transactions is required. 6. Liability and personal asset statement (Assessment done by branch personnel) All the documents should be self-attested. Applicant academic documents Mark sheets of class 10, class 12, and degree/ undergraduate Admission proof (showcasing the complete duration of the course) Fee structure (i-20 for US if available) GRE/GMAT or IELTS Scorecard.
Repayment
The following table shows the amortization schedule for a loan of 21 Lakhs borrowed from the Indian Overseas Bank at an interest rate of 10% with a repayment period of 10 years. The grace period for this loan is for the course duration plus one year. This schedule also determines the form of the repayment cycle, EMI, and the balance place showing the interest and principal components and the outstanding balance of the loan at the end of each year. Repayment Cycle EMI Interest portion Principal portion Loan Outstanding End of 1st year 32782 19514 13267 2328459 End of 2nd year 32782 18125 14657 2160359 End of 3rd year 32782 16590 16191 1974657 End of 4th year 32782 14895 17887 1769509 End of 5th year 32782 13022 19760 1542880 End of 6th year 32782 10953 21829 1292520 End of 7th year 32782 8667 24114 1015944 End of 8th year 32782 6142 26640 710406 End of 9th year 32782 3353 29429 372875 End of 10th year 32782 271 32511 0 Read More Count on our post-sanction assistance to provide a smooth and quick process Request a call back now
How to apply
Visit your nearest branch of an Indian overseas bank and request information on the education loan Based on your requirements and eligibility for the loan select a loan product and fill in the application form Get the list of documents to get your loan process started Visit the bank again and submit the documents to start processing the loan
FAQs
Why transfer your loan to an Indian overseas bank?
You can reduce the interest rate on that loan significantly. As our organization is connected to most of the mainstream public banks, NBFCs, and private banks the process of loan transfer becomes very easy We further try to negotiate the interest rates down by 0.5% to 2%
Last updated 23 Jul 2026. Figures are indicative and not a loan offer. Always confirm with the lender. Subraxo is not a bank or NBFC.