Education Loans

At Shiv Nadar (Institution of Eminence Deemed to be University), we are committed to supporting our students' academic journeys by offering access to education loan assistance. We understand that financing your education can be a challenge, so we've partnered with leading banks to offer students a variety of education loan options.

Education loans can cover tuition, fees, accommodation, and other academic expenses. Many banks offer favourable terms, including lower interest rates and flexible repayment schedules, to make financing your education more accessible.

How it works

Students are free to choose any bank for their education loan. However, we have established partnerships with a selection of banks to simplify the loan application process.

Benefits of Income Tax Section 80E

Section 80E of the Indian Income Tax Act provides a tax deduction for the interest paid on education loans. Here are the key details:

  1. Who Can Claim: Individuals who have taken an education loan for themselves, their spouse, or children, or for a student for whom they are a legal guardian, can claim this deduction.
  2. Loan Purpose: The loan must be for higher education. This includes any course pursued after completing the Senior Secondary Examination or its equivalent from a school, board, or university recognized by the central or state government.
  3. Amount of Deduction: The entire interest paid on the education loan during the previous year can be deducted from taxable income. There's no upper limit on the amount that can be claimed.
  4. Duration of Deduction: The deduction is available for a maximum of 8 years starting from the year in which the interest payment begins, or until the interest is fully repaid, whichever is earlier.
  5. Loan from Specified Financial Institutions:The loan must have been taken from a bank, financial institution, or approved charitable institution. Loans from friends or relatives are not eligible for this deduction.
  6. No Deduction on Principal Repayment:: The deduction is only available for the interest component of the Equated Monthly Instalment (EMI) and not for the principal repayment.
  7. Claiming Deduction: To claim the deduction, fill out Form 80E while filing your income tax return, providing details like the amount of interest paid, the name and address of the lender, etc.
  8. Utilization of Deduction: This deduction can significantly reduce your tax liability, as the interest paid on education loans can often be substantial

Overall, Section 80E aims to provide financial relief to individuals who have taken loans for higher education by reducing their tax burden.

Next Steps:


If you're interested in exploring education loan options, we recommend contacting, any or all of the below, banks directly. Bank team can guide you through the application process and answer any questions you may have.

Please note that the loan approval process is subject to the policies and guidelines of the partner banks and Shiv Nadar IoE has no role to play in approval or rejection of your loan application.

BANK NAME Loan offer for Shiv Nadar (Institution of Eminence Deemed to be University), DELHI NCR
Axis Bank Click here to download
ICICI Bank Click here to download
HDFC Credila Click here to download
State Bank of India (SBI) Click here to download

Government led initiative

Vidya Lakshmi Portal for education loan, visit the link to explore and apply for the education loan directly. https://www.vidyalakshmi.co.in/Students/