is cibil score required for education loan

Yes, a CIBIL score is a crucial factor for education loan approval as it indicates creditworthiness. For students who are first-time borrowers and lack a credit history (score of 0 or -1), the lender will primarily assess the CIBIL score of the co-applicant, usually a parent or guardian. Most financial institutions prefer a score of 750 or above, as a higher score can result in better loan terms, such as lower interest rates and faster processing. A minimum score of around 685 to 700 is generally required, though some public banks may offer loans with scores as low as 650 for secured applications.