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Education Loan for Indian Education


The following people are eligible to apply for an Education Loan for Indian Education:

  • Resident Indians
  • Individuals between the ages of 16 and 35
  • For Loan amount 4lac <=7.5lac: third party guarantee and parent(s) as joint borrower(s)
  • For loan amount > 7.5lac: Tangible collateral security along with Parents to be joint borrower(s)

The following documents are required along with your Education Loan for Indian Education application:

Category Applicant (Student)
Academic Institute admission letter with fee break-up
SSC, HSC, Graduation mark sheets
KYC (Know Your Customer) Age proof
Signature proof
Identity proof
Residence proof
Income Documents Salaried
Latest 2 salary slips carrying date of joining details
Previous 6 months bank statement of the salary account
  Self Employed
ITR of previous 2 years along with computation of income
Audited balance sheet of previous 2 years
Bank statement of previous 6 months
Proof of turnover (latest sales/service tax return)
  Self Employed – Professional
ITR of previous 2 years along with computation of income
Audited balance sheet/proft and loss statement of previous 2 years
Bank statement of previous 6 months
Proof of Qualification
Others Completed application form
Latest photograph (signed across)
Documents – Post Sanction
Loan Agreement Completed Loan Agreement to be signed by applicant and co-applicant*
Repayment Instructions PDCs/ECS or SI Mandate
3 Security PDCs in case of ECS and SI mode of repayment
*Stamp duty to be paid by the customer as per the relevant state laws

Here are the documents you need to submit for subsequent disbursements at your nearest  center

  • Disbursement Request Letter for tranche disbursement duly signed by Customer
  • University Fee Demand Letter
  • Applicant’s Academic Progress Report (Previous Semester)
  • Fresh repayment instructions in case of full Post Dated Cheque (PDC) or swap of existing repayment instructions.
  • Copy of the payment receipt of the previous disbursement / semester, issued by the Institute.

 

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This entry was posted on October 29, 2018 by in Uncategorized.

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