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.