Loan for Graduates

Loan for Graduates aims to meet the financial needs of individuals those completing their academic journey, supporting their transition to the professional world. A personal loan for graduates serves as a convenient solution, offering swift access to funds for unexpected expenses and creating a flexible financial cushion with no collateral.

For providing financial services for personal loan , Buddy loan can be the right choice. Buddy Loan provides easy access to personal loans from reputable RBI-approved lender. Experience a seamless loan availing process with competitive interest rates starting at just 11.99% p.a., along with flexible repayment tenures extending up to 5 years.

Instant Personal Loan for Graduates Details

When considering the option of availing a personal loan, it's necessary to be aware of the key details outlined in the table below. This information will help you in making your decisions accordingly:

Loan Amount Starting from ₹10,000 to ₹15 Lakhs
Loan Tenure Starts from 6 months to 5 years
Income Requirement ₹15,000/-
Document Requirement PAN, Aadhaar, Income proof, Address proof

Graduates Loan Interest Rates

Factors Fees & Charges
Interest Rate Starting at 11.99% p.a.
Processing Fee 1% - 2%of the loan amount
Pre-closure Charges 0% to 5%
Penalty Charges 3% of the due loan amount
Note: Please be informed that the Axis Bank business loan interest rates are subject to change per the market.

Graduate Personal Loans Eligibility Criteria

Analyze if you are eligible for a personal loan by following the listicle of eligibility criteria below:

  • Age Range: Eligible applicants should be of age between 21 and 60.
  • Citizenship: Indian citizenship is a prerequisite.
  • Minimum Income: Applicants must earn a minimum monthly income of ₹15,000.
  • Employment Status: Salaried applicants must have a minimum of 1 year of continuous employment.
  • Creditworthiness: A minimum credit score of 750 is required.

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Do I need a co-signer or collateral to secure a loan?

As a graduate, availing a personal loan may not require a co-signer or collateral, especially with a strong credit history and stable income. But, those with limited credit or lower income might need a co-signer for added assurance.

Hence, the co-signer should be someone with a strong credit history and stable income, commonly a family member, friend, spouse, or even an employer, who is willing to take responsibility if you are unable to repay.

Documents Required for Graduate Personal Loans

Understanding what documents to be gathered allows graduates to properly plan and make the loan process as seamless as possible. Here are the key documents generally required when applying for a post-graduation personal loan.

  • Identity Proof: Your PAN, Aadhaar card, or Passport.
  • Address Proof: Aadhaar or Documents like electricity bills, bank statements, or rental agreements.
  • Salary slip: Recent salary slip showing your monthly income.
  • Latest ITR: Income Tax Return filed for the most recent financial year.
  • Bank statement: Recent bank statement showing your account balance and transaction history.
  • Photograph: Recent passport-sized photograph of the applicant.

EMI Calculation for Graduate Personal Loans

With an online EMI calculator, plan your monthly loan payment effortlessly. Just input your loan amount, interest rate, and tenure to receive precise EMI information.

Monthly EMI 86
Principal Amount 1,000
Total Interest 32
Total Amount 1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

The formula for calculating EMI is:

EMI = [P x R x (1+R)^N] / [((1+R)^N) - 1]


  • EMI = Equated Monthly Installment
  • P = Principal Loan Amount
  • R = Monthly Interest Rate
  • N = Loan Tenure in Months

For example:Let's consider a loan of ₹50,000 at an annual interest rate of 11.99% for a 5-year tenure (60 months):

Loan amount (P) = Rs. 50,000

Interest rate (R) per annum = 11.99% = 0.1199

Tenure (n) of loan = 5 years = 60 months

P = Rs. 50,000

R = 0.1199/12 = 0.00999

n = 60 months

Now, Using the formula for EMI:

EMI = P x R x (1 + R)^n/((1+R)^n - 1)

EMI = 50,000 x 0.00999 x (1 + 0.00999)^60/((1+0.00999)^60 - 1) = Rs. 1,075

So, the EMI for a Rs. 50,000 loan at 11.99% annual interest for a 5-year tenure is Rs. 1,075.

Therefore, the EMI is ₹1,075

Comparison of Loan Lenders for a Graduate Loan

The table presents a comparative view of factors like interest rates and processing fees provided by major banks for personal loans:

Lender Interest Rates(p.a) Processing Fees
State Bank of India 11% onwards Up to 1.5% + GST
Axis Bank 10.49% onwards 1.5%-2% of the loan amount
Bank of Baroda 10.90% onwards 2% of the loan amount
Kotak Bank 10.49% p.a Up to 3% of the final loan amount
IDFC Bank Starts at 10.49% Up to 3.5% of Loan Amount

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Note- The interest rates mentioned are subject to change. Do visit the website for more information.

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Types of Loans Offered to Graduates

Students can explore various types of personal loans to meet their financial needs during their academic journey. Some common types of personal loans for graduates include:

Student Personal Loans: Designed specifically for students, these loans may offer favorable terms and lower interest rates. They can be used for tuition, books, living expenses, or any other educational-related costs.

Co-Signed Personal Loans: Students with limited credit history or income may consider co-signed personal loans, where a parent, guardian, or another individual co-signs the loan to enhance the student's creditworthiness.

Postgraduate Loans: It is aimed at students undertaking 2-year postgraduate courses in India. These loans support the pursuit of deeper knowledge in their chosen field.

Career Development Loans: Provided to professionals temporarily stepping away from corporate roles to pursue specialized courses and training, these loans aim to enhance employment prospects.

Features & Benefits of Graduate Loans

Here are the key features and advantages that make graduate loans an essential resource for those embarking on their professional journeys:

Loan Approval

Get your instant
personal loan

0 Collateral

Secure your loan amount
without putting your
assets on line.

Interest Rates

Interest rates starting
at just 10.49% p.a.

Loan Amount

Get personal loan
upto ₹15 Lakhs

Flexible Repayment Terms

Choose your repayment
tenure up to 5 years.

Zero Additional Charges

Zero hidden charges
and penalties.

Steps to Apply Online For Graduate Personal Loan

Here are the easy and quick steps through which you can apply for personal loan for graduates:

  • Step 1: Visit or Download & install the Buddy Loan app (Android or iOS).
  • Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
  • Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
  • Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
  • Step 5: Enter your work details (Including company name, years of service and Designation)
  • Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
  • Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

Apply for a personal loan now!

Frequently Asked Questions

Yes, graduates can apply for various types of loans based on their financial needs and creditworthiness.

Yes, students can apply for loans specifically designed for educational expenses, including tuition, books, and living costs.

Yes, there are loans aim for graduate students to cover expenses related to advanced degrees, offering competitive terms.

Federal student loans are government-backed loans with fixed interest rates, providing financial assistance for education, and often offering favorable repayment terms.

Repayment options for graduate loans vary, including standard plans with fixed monthly payments, graduated plans with increasing payments, and income-driven plans based on financial circumstances.

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