What is an Education Loan?
An education loan gives wings to your career dreams and aspirations. You can apply for an educational loan from a bank or other NBFCs for pursuing a course of your choice after Class 12. You can pay back the loan once you start earning after graduation. Just like other loans, an education loan in India also charges interest on the principal. However, this interest amount is deductible under section 80E of the Income Tax Act.
Here is the list of top ten things that you must know before you claim a deduction.