Kalupur Bank Education Loan: Interest, Eligibility, Documentation

Kalupur Education Loan
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The Kalupur Commercial Co-Operative Bank Ltd. is one of the leading co-operative banks in Ahmedabad. It understands that higher education is becoming costlier and considers its social responsibility to extend financial means to deserving and aspiring students. Hence, Kalupur Bank provides education loans to study in India and abroad at the lowest interest rates.

Let’s get into the loan details and other important factors like Kalupur Bank education loan interest rates, documents, eligibility criteria, fees, and how to apply.

Overview of Kalupur Bank Education Loan

Kalupur Bank education loans for abroad studies are provided for a maximum of 10 years. The interest rates start from 8.10% p.a. Students can avail income tax rebates on education loans up to INR 10 lakhs under the ‘Knowledge Consortium of Gujarat’. The interest benefits can also be availed up to the moratorium period, which is the holiday period. There are zero processing fees on Kalupur Bank education loans.

The income of the applicant must be up to INR 6 lakhs. To avail the education loan, the applicant doesn’t need to pledge security for loans up to INR 50,000. However, education loans above INR 50,000 require a mortgage of immovable property or lien/ assignment of government securities/ FDR.

Maximum Loan AmountNo maximum cap
Interest Rates8.10% p.a. onwards
SecurityUp to INR 50,000- NILAbove INR 50,000- Immovable property or lien/ assignment of government securities/ FDR
Moratorium PeriodCourse Duration + 1 year

Also Read: Planning to take education loans from a private lender? Check out the details of one of the leading banks- HDFC Bank education loans to study abroad. Know all the important loan details in the blog.

Kalupur Bank Education Loan Interest Rates

Kalupur Bank Education Loan interest rates start from 8.10% onwards. The loan is provided under the REPO scheme and New Fixed Rate Product. The repo-rate scheme means that the interest rates on education loans are linked to the Repo rate set by the RBI. The interest rates are fixed under the fixed scheme.

Education Loan Under REPO Scheme

  • The repo rate is 6.50% + spread in each category.
  • Loyalty customers get a concession of 0.10% in the below-mentioned ROI.
  • An option of the one-time switch is available with conversion fees of 0.30% of the ledger outstanding and net due portion or a maximum of INR 1500 + GST.
New Borrower8.65% p.a. to 9.25% p.a.
Priority Sector &/ Or Admission in Top 100 University8.75% p.a.
Others9.25% p.a.

Education Loan Under New Fixed Rate Product

  • The interest rate remains fixed and unchanged during the entire loan tenure.
  • These interest rates are valid till 31st March 2024. The mentioned effective rate of interest on Kalupur Bank education loans will be reviewed thereafter.
Priority Sector &/ Or Admission in Top 100 University8.10% p.a.
Others8.10% p.a.

Please note: Applicants cannot switch over to repo-rate linked interest rates from non-repo rate or vice versa.

Also Read: Comparing education loan interest rates is one of the best practices before applying for a loan with any lender. Compare the education loan interest rates of leading banks and NBFCs to find the best-suited lender.

Eligibility Criteria

To be eligible for Kalupur Bank education loans for abroad studies, the applicant must be an Indian citizen and at least 16 years of age. Besides, the applicant must get admission into the university through merit or entrance examinations. The below-mentioned criteria are also applicable and considered by Kalupur Bank to grant you education loans.

  • Indian student with residence of Gujarat/ Maharashtra
  • Minimum 16 years of age and Maximum 45 years
  • Admission is secured through the entrance examination or merit-based selection
  • Minimum 60% in Class X and Class XII and 55% or equivalent grade in Graduation 
  • Higher Education courses approved by the recognised authorities
  • Education loans can be availed for the following approved courses-
  • Graduation
  • Post Graduation
  • PhD
  • Research Courses in Engineering
  • Pharmacy
  • Medical
  • Management
  • Computer
  • Any Degree/Certificate courses for (1/2 Year) subject to collateral security are offered in the form of liquid security i.e. FDR/LIC policies/ NSC-KVP.

Documents Required

The applicant and the co-applicant/ guarantor are required to submit certain documents and bonafide certificates to banks related to personal details, academics, income, and collateral. These help banks verify your eligibility and process education loans. Here’s the checklist of documents required for Kalupur Bank education loans to study abroad.

For Student


  • Institute Admission Letter with Fee break-up
  • Class X, Class XII and Graduation Marksheets


  • 4 Passport Size photographs
  • Copy of PAN Card
  • Copy Address Proof
  • Copy of Passport & VISA

Co-Applicant & Guarantors


  • 4 Passport size photographs
  • Copy of PAN card
  • Copy of Address proof


  • Last 2 years of IT Return with computation of total Income
  • Last six months’ Bank Statement
  • Last 3 months’ Salary Slips (if Salaried)

Also Read: Having a gap after higher studies for entrance preparations or career building? Check out the details about obtaining a gap certificate for an education loan.

How to Apply for Kalupur Bank Education Loans?

The applicant can easily apply for a Kalupur Bank Education loan by visiting the nearest bank branch. The application process is easy and smooth. However, one can also apply for Kalupur Bank education loans online through Vidya Lakshmi Portal. Follow these steps to learn more about the details-

Vidya Lakshmi Kalupur Bank
  • Visit the official website of Vidya Lakshmi Portal.
  • Register yourself if you haven’t.
  • Sign in using your username and password.
  • Click on ‘Search and Apply for Loan Scheme’.
  • Search ‘Kalupur Bank’.
  • Click on ‘Apply’.
  • Now, fill out the application form by entering your personal details, present banker details, course details, and cost of finance details, and upload the documents.

FAQs on Kalupur Bank Education Loan

What are Kalupur Bank Education Loans to study abroad?

Kalupur Bank education loans to study abroad are the financial assistance provided by Kalupur Commercial Co-Operative Bank Ltd. The loans can be availed with no upper limit at the lowest interest rates starting from 8.10% p.a.

What are the Kalupur Bank education loan interest rates?

The interest rates on Kalupur Bank education loans start from 8.10% p.a. The education loan interest rates on the repo-rate scheme range from 8.65% p.a. To 9.25% and 8.10% p.a. Under fixed rate Kalupur Bank education loans.

Can I change from repo-rate interest rates to fixed rates on Kalupur Bank education loans?

No, applicants cannot switch over to repo-rate linked interest rates from non-repo rates or vice versa. The type of education loan interest rates remains the same throughout the repayment tenure.

What is the repayment tenure of education loans?

The loan repayment tenure is up to 12 years. The bank also provides a moratorium period of course duration + 1 year during which the student is obligated to start the repayment of the education loan availed.

Who is eligible for a Kalupur Bank education loan?

An Indian citizen with a residence of Gujarat/ Maharashtra is eligible to avail education loans. The applicant must also be at least 16 years and a maximum of 65 years of age. Besides, you must have secured admission to a university abroad through a merit-based selection process or entrance examination.

What are the documents required for the Kalupur Bank education loan?

The applicant must submit KYC documents like an Aadhaar Card/ PAN Card/ Voter ID and academic mark sheets of Class X, XII and graduation. Besides, the co-applicant is also required to submit income statements like salary slips, bank statements and ITR statements along with KYC documents.

How can I apply for Kalupur Bank education loans?

The applicant can easily apply for the loan by visiting the nearest bank branch. The application process is easy and smooth. However, one can also apply for Kalupur Bank education loans online through Vidya Lakshmi Portal easily.

This was all about Kalupur Bank education loans to study abroad. It is important to know about the eligibility criteria before applying for the same and understand other factors like interest rates, repayment tenure, and moratorium period. Hope this blog has helped with all the required information.

To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.

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About Shubhika Garg

Hey there! I'm Shubhika- a proud graduate in English Literature and Language from Delhi University. My journey as a content writer transitioned from online teacher into the world of words. Stepping into the domain of blogs and articles, I discovered my passion for writing growing deeper and stronger. Having said that, I have experience of writing for diverse industries in automobile, technology, ed-tech, finance and mental-health; crafting details to help you find the solution to what you are looking for. Join me as I invite you all explore and learn together.

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