{"id":13393,"date":"2025-08-05T18:48:54","date_gmt":"2025-08-05T13:18:54","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=13393"},"modified":"2025-08-05T18:49:47","modified_gmt":"2025-08-05T13:19:47","slug":"education-loan-for-online-degree","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/","title":{"rendered":"Education Loan for Online Degree: Best Banks, Features, Eligibility"},"content":{"rendered":"\n<p>Are you a working professional and planning to upskill your career with an online degree? Well, a good online course comes with a high cost, and you might require additional funds. A lot of banks in India provide education loans for online degrees, which you can get easily by applying online. There are a lot of universities that offer online courses, which can cost up to INR 5 lakh or more. Let\u2019s check and understand how you can get an education loan for an online degree and which are the best banks for it.<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-what-is-an-online-degree\" data-level=\"2\">What is an Online Degree?<\/a><\/li><li><a href=\"#h-best-banks-for-education-loans-for-online-degrees\" data-level=\"2\">Best Banks for Education Loans for Online Degrees<\/a><\/li><li><a href=\"#h-eligibility-criteria\" data-level=\"2\">Eligibility Criteria<\/a><\/li><li><a href=\"#h-documents-required-for-online-degree-education-loan\" data-level=\"2\">Documents Required for Online Degree Education Loan<\/a><\/li><li><a href=\"#h-how-to-apply-for-education-loan-for-distance-learning-programs\" data-level=\"2\">How to Apply for Education Loan for Distance Learning Programs<\/a><\/li><li><a href=\"#h-faqs\" data-level=\"2\">FAQs<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-an-online-degree\"><span id=\"what-is-an-online-degree\">What is an Online Degree?<\/span><\/h2>\n\n\n\n<p>An online degree is an academic qualification obtained through internet-based learning. It allows students to complete their courses and earn degrees from accredited institutions without physically attending classes on campus. This mode of education provides flexibility and accessibility. Online degrees are offered in various fields, from associate to doctoral levels, and often include interactive elements such as virtual classrooms, discussion forums, and multimedia resources. More details regarding online degrees are mentioned below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Some of the top universities of the world, like Harvard University, the University of London, etc, also offer online courses<\/li>\n\n\n\n<li>You can get an education loan for an online degree from banks in India, like the Bank of India, Axis Bank, etc<\/li>\n\n\n\n<li>You can also apply for a loan if the course is a certification course or a short-term executive-level course<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Check out the given link on <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/documents-required-for-education-loan\/\"><strong>documents required for education loans<\/strong><\/a><strong> to understand the checklist in detail.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-best-banks-for-education-loans-for-online-degrees\"><span id=\"best-banks-for-education-loans-for-online-degrees\">Best Banks for Education Loans for Online Degrees<\/span><\/h2>\n\n\n\n<p>There are several banks in India that offer education loans for online degrees from foreign universities. Some of the leading banks such as the Bank of India (BOI), Axis Bank, and ICICI Bank provide education loans that cover tuition fees, study materials, and other expenses associated with online programs. These banks offer affordable interest rates, flexible repayment terms, and low processing fees. The major features of the banks are mentioned below:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Banks<\/strong><\/td><td><strong>Major Features<\/strong><\/td><\/tr><tr><td>Axis Bank Education Loan for Working Professionals<\/td><td>&#8211; Maximum Loan Amount: As per the Requirement<br>&#8211; Available for working professionals and students<br>&#8211; Minimum qualification&nbsp;<\/td><\/tr><tr><td>Bank of India Star Education Loan<\/td><td>&#8211; Maximum Loan Amount: INR 20 lakh<br>&#8211; Online Application<br>&#8211; Available for Working Professionals<\/td><\/tr><tr><td>Credila Loan for Executive Management Courses for Working Executives\u00a0<\/td><td>&#8211; Need-based finance<br>&#8211; Collateral-free loans are available<br>&#8211; Low Interest Rate<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eligibility-criteria\"><span id=\"eligibility-criteria\">Eligibility Criteria<\/span><\/h2>\n\n\n\n<p>There are certain eligibility criteria prescribed by the banks and NBFCs that provide education loans for online degrees. Banks usually offer an education loan after 12, but not for online degrees. You should always stay informed about the eligibility criteria, as it is important in order to get the loan approved. The eligibility criteria for education loans are mentioned below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The applicant must be a graduate and above 18 years of age (required by some banks)<\/li>\n\n\n\n<li>There should be a stable income for the student<\/li>\n\n\n\n<li>Demonstrated satisfactory academic performance<\/li>\n\n\n\n<li>Verification of nationality or residency status<\/li>\n\n\n\n<li>Documentation of income or financial stability, either for the applicant or the guarantor<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-documents-required-for-online-degree-education-loan\"><span id=\"documents-required-for-online-degree-education-loan\">Documents Required for Online Degree Education Loan<\/span><\/h2>\n\n\n\n<p>Documentation is a primary factor for an education loan. Always keep the important documents handy so that you can submit them properly. Check the complete list of documents required for an education loan for an online degree below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>KYC documents such as Aadhar cards, driving licenses, voter ID cards, etc<\/li>\n\n\n\n<li>Income documents such as ITR, salary slips, bank statements for the last 6 months, etc<\/li>\n\n\n\n<li>Academic documents such as scorecards of senior and higher secondary education, undergraduate degree and any other course (if required)<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Know all about the <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/iba-model-education-loan-scheme\/\"><strong>IBA Model Education Loan Scheme<\/strong><\/a><strong> and learn about the eligibility criteria, documents required, maximum loan amount, interest rates and much more.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-apply-for-education-loan-for-distance-learning-programs\"><span id=\"how-to-apply-for-education-loan-for-distance-learning-programs\">How to Apply for Education Loan for Distance Learning Programs<\/span><\/h2>\n\n\n\n<p>Education loan applications these days are mostly done through the online mode. For a usual education loan, applications are made through the <a href=\"https:\/\/fly.finance\/blog\/education-loan\/vidya-lakshmi-portal-education-loan\/\"><strong>Vidya Lakshmi portal for an education loan<\/strong><\/a>. You can apply for the same by choosing the applicable scheme. Also, you can apply through the official website of the bank through which you want to apply for the distance learning education loan. For applying through the Vidya Lakshmi portal, check the steps below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Visit the Vidya Lakshmi portal<\/li>\n\n\n\n<li>Register and log in by mentioning the credentials<\/li>\n\n\n\n<li>Go to the students&#8217; portal and check for the bank<\/li>\n\n\n\n<li>Read the features of the loan scheme and select the right one<\/li>\n\n\n\n<li>Fill out the loan application form and submit the required documents<\/li>\n\n\n\n<li>Wait for the verification process<\/li>\n<\/ul>\n\n\n\n<p>These were some major details about the Education Loan for an Online Degree. Always check the eligibility criteria and terms and conditions before applying for the loan. Check some FAQs based on distance learning education loans below.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1719219946972\"><strong class=\"schema-faq-question\">What is an online degree?<\/strong> <p class=\"schema-faq-answer\">An online degree is an academic qualification obtained through internet-based learning. It allows students to complete their courses and earn degrees from accredited institutions without physically attending classes on campus.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1719219963020\"><strong class=\"schema-faq-question\">Which banks in India offer education loans for online degrees?<\/strong> <p class=\"schema-faq-answer\">Several banks in India provide education loans for online degrees from foreign universities. Leading banks such as the Bank of India (BOI), Axis Bank, and Credila offer these loans. The Bank of India offers a maximum loan amount of INR 20 lakh, while Axis Bank provides loans as per the requirement for both working professionals and students.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1719219972899\"><strong class=\"schema-faq-question\">What are the eligibility criteria for obtaining an education loan for an online degree?<\/strong> <p class=\"schema-faq-answer\">The eligibility criteria for obtaining an education loan for an online degree are that the applicant must be a graduate and above 18 years of age, as required by some banks. The applicant should have a stable income and a good academic performance.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1719219988924\"><strong class=\"schema-faq-question\">What documents are required to apply for an education loan for an online degree?<\/strong> <p class=\"schema-faq-answer\">The documents required to apply for an education loan for an online degree include KYC documents such as an Aadhar card, driving license, voter ID card, and income documents like income tax returns (ITR), salary slips, and bank statements for the last six months.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1719220002755\"><strong class=\"schema-faq-question\">How can I apply for an education loan for a distance learning program?<\/strong> <p class=\"schema-faq-answer\">To apply for an education loan for a distance learning program, you can visit the Vidya Lakshmi portal, register, and log in by entering your credentials. Go to the student portal and check for the available banks.<\/p> <\/div> <\/div>\n\n\n\n<p>To know more about <a href=\"https:\/\/fly.finance\/blog\/education-loan\/\"><strong>education loans<\/strong><\/a>, the best <a href=\"https:\/\/fly.finance\/blog\/student-account\/\"><strong>bank accounts for students<\/strong><\/a>, forex and banking experience for global students or <a href=\"https:\/\/fly.finance\/blog\/money-transfer\/\"><strong>international money transfers<\/strong><\/a>, reach out to our experts at 1800572126 to help ease your study abroad experience.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background\"><tbody><tr><td colspan=\"2\"><strong>Related Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-education-loan-insurance\/\"><strong>FAQs on Education Loan Insurance<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/money-transfer\/faqs-on-international-wire-transfer\/\"><strong>FAQs on International Wire Transfer<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/money-transfer\/faqs-on-foreign-inward-remittance\/\"><strong>FAQs on Foreign Inward Remittance<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/money-transfer\/faqs-on-foreign-outward-remittance\/\"><strong>FAQs on Foreign Outward Remittance<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-loan-amortisation\/\"><strong>FAQs on Loan Amortisation<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-personal-loans-for-debt-consolidation\/\"><strong>FAQs on Personal Loan for Debt Consolidation<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-personal-loans-for-education\/\"><strong>FAQs on Personal Loans for Education Loan<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-education-loan-repayment\/\"><strong>FAQs on Education Loan Repayment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-top-up-education-loan\/\"><strong>FAQs on Top-up Education Loan<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-education-loan-transfer\/\"><strong>FAQs on Education Loan Transfer<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Follow Us on Social Media <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-social-links is-layout-flex wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-instagram  wp-block-social-link\"><a href=\"https:\/\/instagram.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" 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c-0.344,0.094-0.707,0.144-1.081,0.144c-0.264,0-0.521-0.026-0.772-0.074c0.522,1.63,2.038,2.816,3.833,2.85 c-1.404,1.1-3.174,1.756-5.096,1.756c-0.331,0-0.658-0.019-0.979-0.057c1.816,1.164,3.973,1.843,6.29,1.843 c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Are you a working professional and planning to upskill your career with an online degree? Well, a good online course comes with a high cost, and you might require additional funds. A lot of banks in India provide education loans for online degrees, which you can get easily by applying online. There are a lot &#8230; <a title=\"Education Loan for Online Degree: Best Banks, Features, Eligibility\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/\" aria-label=\"Read more about Education Loan for Online Degree: Best Banks, Features, Eligibility\">Read more<\/a><\/p>\n","protected":false},"author":24,"featured_media":13397,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-13393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Education Loan for Online Degree: Best Banks, Features, Eligibility<\/title>\n<meta name=\"description\" content=\"Check here all the information about Education Loan for Online Degree. 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With expertise in crafting informative blogs on study abroad and finance, Shekhar helps readers navigate the complexities of education and financial planning. Most of his writings blend the practicality of finance and the beauty of language, making a meaningful impact in both spheres. Beyond his professional pursuits, he finds solace in the writing Shayari.","sameAs":["https:\/\/in.linkedin.com\/in\/thahankmoody","https:\/\/www.tumblr.com\/blog\/dhanlabh"],"url":"https:\/\/fly.finance\/blog\/author\/shekhar\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/#faq-question-1719219946972","position":1,"url":"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/#faq-question-1719219946972","name":"What is an online degree?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"An online degree is an academic qualification obtained through internet-based learning. It allows students to complete their courses and earn degrees from accredited institutions without physically attending classes on campus.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/#faq-question-1719219963020","position":2,"url":"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/#faq-question-1719219963020","name":"Which banks in India offer education loans for online degrees?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Several banks in India provide education loans for online degrees from foreign universities. Leading banks such as the Bank of India (BOI), Axis Bank, and Credila offer these loans. The Bank of India offers a maximum loan amount of INR 20 lakh, while Axis Bank provides loans as per the requirement for both working professionals and students.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/#faq-question-1719219972899","position":3,"url":"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/#faq-question-1719219972899","name":"What are the eligibility criteria for obtaining an education loan for an online degree?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The eligibility criteria for obtaining an education loan for an online degree are that the applicant must be a graduate and above 18 years of age, as required by some banks. The applicant should have a stable income and a good academic performance.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/#faq-question-1719219988924","position":4,"url":"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/#faq-question-1719219988924","name":"What documents are required to apply for an education loan for an online degree?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The documents required to apply for an education loan for an online degree include KYC documents such as an Aadhar card, driving license, voter ID card, and income documents like income tax returns (ITR), salary slips, and bank statements for the last six months.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/#faq-question-1719220002755","position":5,"url":"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-online-degree\/#faq-question-1719220002755","name":"How can I apply for an education loan for a distance learning program?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"To apply for an education loan for a distance learning program, you can visit the Vidya Lakshmi portal, register, and log in by entering your credentials. Go to the student portal and check for the available banks.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/13393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=13393"}],"version-history":[{"count":8,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/13393\/revisions"}],"predecessor-version":[{"id":21112,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/13393\/revisions\/21112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/13397"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=13393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=13393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=13393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}