Bandhan Bank Sushiksha Loan

About Bandhan Bank Sushiksha Loan

Bandhan Bank Sushiksha Loan is an education loan that empowers families by providing financial support for school-level education. The scheme is exclusively available to existing Bandhan Bank customers who have previously availed of a micro loan. This initiative aims to ensure that parents can fulfil their role in educating their children, especially in situations where affordability is a challenge.

Bandhan Bank Sushiksha Loan - Rate of Interest

The Bandhan Bank Sushiksha Loan offers a loan with an applicable rate of interest:

• Current Interest Rate: 13.45% (linked to MCLR)

This interest rate remains standard, making it easier to plan your budget during the short loan period. Parents seeking long-term options may also consider a child education plan to complement such short-term financial products.

Note: The rates are updated per Bandhan Bank's latest terms as of 19 June 2025. These may change based on the RBI Repo Rate monetary lending policy updates.

Features of Bandhan Bank Sushiksha Loan

Here are the key features of Bandhan Bank education loan:

• Exclusive to Micro Loan Customers: Available only to existing Bandhan Bank micro loan borrowers to promote inclusive education.

• Short Loan Tenure: Repayment period is up to one year, making it easier for low-income households to manage.

• Doorstep Banking: The loan process includes document collection and biometric authentication at the borrower’s residence.

• Minimal Documentation: Basic documents like identity and address proof with a photograph are required.

• Faster Disbursement: Speedy processing and release of the loan amount for uninterrupted schooling.

If you're also interested in early planning, it’s worth comparing options like a child investment plan for more structured future benefits.

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Eligibility of Bandhan Bank Sushiksha Loan

The eligibility criteria for Bandhan Bank Sushiksha Loan are as follows:

• Must be an existing micro loan customer of Bandhan Bank at the time of the loan application.

• Should be at least 18 years old and not more than 65 at loan maturity.

• Must have one active primary loan running with Bandhan Bank during the application.

For working parents, planning with a child education allowance alongside this scheme can help handle various academic expenses.

Document Required for Bandhan Bank Sushiksha Loan

Applicants must provide the following documents for processing the Bandhan Bank Sushiksha Loan:

• Valid identity proof (e.g., Aadhaar Card, Voter ID)

• Proof of residence (e.g., utility bill, ration card)

• Passport-size photograph

If you use an income tax calculator, you can also make an estimate of your eligibility for deductions.

Most Important Terms and Conditions

Here are the most important terms and conditions for the Bandhan Bank Sushiksha Loan:

• Loan Purpose: The loan should only assist the child in educational expenses, i.e., fees, books, supplies, etc.

• Single Running Loan Condition: Borrowers should only possess a single running primary loan at the disbursement stage.

• Insurance is not a Requirement: Insurance with the bank is not a prerequisite for a loan.

• Loan Recovery Timeline: The full loan repayment should last one year from the disbursement date.

To get a clear idea about the tax advantage on interest payment of this kind of education-related borrowing, you can refer to the information in Section 80E of the Income Tax Act.