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Education Loans

Educational loan support

TAPMI is associated with several banks to ensure swift financial assistance for students interested in availing educational loans. The interest rates and other details are subject to change as per the discretion of the banks. Please contact the respective banks for further information.

Education Loan bank details

Please contact Mr. Navin Yelamali, Dy. Manager, Admissions TAPMI – 0820-2701070 & Ms. Reena S, Admissions Officer, TAPMI – 0820-2701080 in case you need any support for education loans.

Hdfc Bank

Benefits of HDFC Credila’s Education Loan are:

  • Quick & easy loan processing
  • Pre-approved loan before admission too
  • Doorstep service
  • Up to 100% finance
  • Competitive rate of interest No margin money required

HDFC Credila has partnered with T. A. Pai Management Institute (TAPMI) to design a customized loan product

  • Total Amount : 20 Lakhs unsecured
  • Tenure of the Loan: Up to 120 months, including the Study period (Can be lower if required)
  • Rate of Interest : 7.50%
  • Co Applicant Required: Yes: Father / Mother / Spouse
  • One Time Origination Fee: Rs. 5000 + GST
  • Insurance Cover: Required for unsecured cases
  • Income Tax Benefits: Available under Section 80E of Income Tax Act 1961

List of Documents:
(Please note this list is not exhaustive and few additional documents might be needed on a case to case basis)

Completely Filled Application Form 1. Duly signed with latest photograph of Applicant/Co-applicant
2. Soft copy of application to be accepted for login
Student 1. Photo
2. Pan Card and Adhar Card
3. Admission Letter if received
4. Entrance Score Card
5. Graduation last degree or last certificate
Co-Applicant (Father, Mother or spouse) 1. Photo
2. PAN Card and Adhar card
If Salaried 1. Any 2 Salary Slips from Last 6 Months
2. Salaried Account 6 month Bank Statement
Self Employed Co-applicant 1. Online filed Income Tax Return for Financial Year 2018-19 / 2017 -18
2. 8 Months Current and Saving accounts Bank Statement
Pensioner 6 Month Pension Banking


For more details:

Area Sales Manager – Rajendra K, Mobile No: 7829996882

Assistant Manager: Ravikumar Chippe Mobile: 9008471924

Download PDF

Canara Bank

(Download PDF)

1. Eligibility :

  • Student should be an Indian National.
  • Students should have cleared the previous qualifying exam and selected through Entrance Test conducted by Competent Authorities.

2. Purpose:

  • To assist the needy and meritorious students who are in need of education loans for pursuing their higher studies in reputed institutions

3. Quantum of finance:

  • Limit available upto Rs. 20.00 lacs under the scheme.

4. Upfront/ Processing Fee:

  • NIL

5. Expenses considered for loan :

  • Fee payable to college/ school/ hostel.
  • Examination on/ Library/ Laboratory fee
  • Travel expenses/ passage money for studies abroad
  • Insurance premium for student borrower, if applicable
  • Caution deposit, building fund/refundable deposit supported by Institution bills/ receipts.
  • Purchase of books/ equipments/ instruments/ uniforms
  • Purchase of computer at reasonable cost, if required for completion of the course
  • Any other expense required to complete the course – like study tours, project work, thesis, etc.
  • Reasonable lodging and boarding charges will be considered in case the student chooses / is required to opt for outside accommodation.

6. Margin:

  • NIL

7. Rate of interest:

Ongoing One Year RLLR

 RLLR Currently 6.90 %

8. Security:

  • Assignment of future income of the student
  • Co borrowership of parent
  • Mandatory life insurance cover of the student borrower under Vidya Suraksha Yojana As per the request of the borrower, the insurance premium can be included in the education loan project cost

9. Repayment:

  • Up to 15 years excluding Moratorium period, irrespective of loan amount
  • Uniform one year moratorium period is available for repayment after completion of studies in all cases. i.e. Repayment holiday consists of Course period + (1 year after completion of course).
  • Repayment of the loan is to be in equated monthly installments for a period of 15 years for all loans irrespective of loan amount
    Note: No prepayment penalty will be levied for prepayment of loan any time during the repayment period

10. Additional Requirements:

  • Full particulars including the Asset and Liabilities (Net worth) of the Parent/Guardian in the Education loan application along with KYC & residential proof

Branches Contact Details

  • DP: 12420
    Branch Name: MANIPAL TAPMI
    Branch Head: Mario Wilson Mathias
    Designation: Manager
    Phone: 08202572483
    Mobile: 9449862676
  • DP: 10111
    Branch Name: MANIPAL II
    Branch Head: SumiChandran M B
    Designation: Chief Manager
    Phone: 08202570757
    Mobile: 9449860802
  • DP: 3085
    Branch Name: MANIPAL I
    Branch Head: Rijas K
    Designation: Manager
    Phone: 08202572960
    Mobile: 9483503085

Indian Bank

Features of Education Loan – Prime

Product Education Loan Prime
Loan limit Need based loan limit up to Rs.30.00 lakhs
Margin Nil
Processing Charges Nil
Collateral Nil (Parents/spouse/guardian will be co- obligant) up to Rs. 30.00 lakhs
Rate of Interest MCLR (One Year) + 0.10%
Presently 8.35+0.10= 8.25%
Quota Merit quota only
Repayment Period 15 Years
(excluding course period and holiday period)
Location Loan will be sanctioned at Indian Bank, Udupi Branch for PAN India students.


Documents required for education Loan Prime

Sr. No. Particulars For studies in India Yes/No
1. Identity proof Copy of PAN of student and co-applicant  
2. Address Proof Copy of Aadhaar of student and co-applicant  
3. Academic record – Copy of the Xth std / XIIth std mark list for under graduates.
– Copy of the X th std / XII th std and Degree mark list / provisional certificate all years for post graduates.
4. Family income Salary certificate / Pension certificate/ Auditor’s certificate in case of business category / IT return filed
Income certificate from competent authority notified by State Government under ‘CSIS’ scheme
5. Approval of institution Affiliation/ Accreditation details of the institution  
6. Admission Admission letter / Bonafide student certificate from the College/University  
7. Fee Structure Letter from the college of fees structure for the entire course period including hostel charges  
8. Insurance Life Insurance policy for the student availing educational loan is mandatory for the loan limit sanctioned, covering the entire period of loan i.e. Study Period, Holiday / Moratorium Period and Repayment Period. Branch will take the same. It is one time insurance will cover loan amount.

Vidya Lakshmi

National Securities Depository Limited (NSDSL) e-Governance Infrastructure Ltd., has developed the Vidya Lakshmi Portal. This portal has facilities of education loan, scholarship and other student friendly facilities through one link. The portal is gateway to banks for education loan & has linkages with the National e-Scholarship Portal (NeSP). 26 banks have been registered so far and 52 loan schemes have been uploaded to the Vidya Lakshmi Portal.

Vidya Lakshmi


State Bank of India (SBI) approved the inclusion of TAPMI, Manipal under SBI Scholar Loan Scheme.

Salient features of SBI Scholar loan Scheme to TAPMI:

  • 100% financing for TAPMI (For fees and expenses up to 20 Lakhs)
  • Lowest Interest Rates @ 8.45%
  • Income proof of parents not mandatory
  • Repayment period up to 15 years after course period + 12 months of repayment holiday
  • Quick Sanction
  • Income Tax Rebate
  • No Processing Fee
  • Nodal Branch: Manipal

For more details on required documents, T & C and to download forms, please contact: 9449842848 / 0820-2572814 or write to us:

(Path: Personal Banking>SBI Educational Loan> SCHOLAR LOANS)

e-circular (Inclusion in SBI Scholar loan scheme)


Axis Bank is the third largest private sector bank in India, offering Education Loans for studies both in India and abroad

Features of Axis Bank Education Loan

  • No Processing Fees
  • Collateral free loan
  • Repayment Tenure as Long as 15 Years with a very low EMI
  • 100% Tax Benefit on interest paid under Sec (80E)

For more details on required documents, T & C and to download forms, please contact:

Gopalakrishna +91-9844254551 /

Agilan Arumugam +91-9379192495 /

Education Loan Details