Compare education-loan offers by total cost, not headline rate
Put every offer into one comparison sheet using cost, timing, conditions and repayment—not a single marketing number.
Normalise the offers
Use the same loan amount, study period, disbursement dates and repayment horizon. If the assumptions differ, the monthly payment and total repayment figures are not comparable.
Read the Key Facts Statement
For covered retail term loans, RBI's KFS framework requires a standardised statement and defines APR as the annual cost including interest and other associated charges. Use the KFS alongside the sanction letter; neither replaces the full agreement.
- APR and interest-rate type
- All lender and third-party charges
- Amount actually disbursed
- Moratorium and interest treatment
- Amortisation or repayment schedule
- Penal charges
- Prepayment and cancellation terms
- Offer validity and outstanding conditions
Model the cash flow
Add expected interest during study or moratorium where applicable, then map each disbursement and repayment date. Test a delayed course start and a weaker exchange rate separately from the lender's illustration.
Keep the comparison auditable
Date every quote and link each number to the document that supplied it. Mark verbal claims as unconfirmed until they appear in the lender's written offer.
Primary sources
Requirements and provider terms change. Confirm material decisions with the responsible government, university, lender, insurer or accommodation provider.