Why Education Loan
- Education loan for Meritorious and Deserving students.
- For students in India: Loan amount from 4 Lakhs to 10 Lakhs.
- For students who wish to study abroad: Loan amount from 4 Lakhs to 20 Lakhs.
- Best in class Interest Rate.
- Education Loan for Degree/ Diploma courses.
- Minimal documentation and Quick Approval.
- Door Step Services.
Education Loan Eligibility
Graduation, Post-graduation including technical / professional courses with employment potential conducted by colleges / Universities approved by UGC / Govt./AICTE/Department of Electronics / IMC, autonomous institutions like IIT,IIM etc. are the eligible courses in India and Job oriented, technical / professional courses- (graduation / post graduation) are the eligible courses to study abroad in Education Loan.
- Need based finance is permitted within a maximum of Rs.7.50 lakhs for inland study and Rs.15 lakhs for study abroad.
- Institutions offering courses should have approval of Central Govt. & State Govt./University affiliation/Autonomous Institutes/AICTE/DOEACC.
Education Loan Documents
Following are the supporting documents needed to apply for education loan:
1. Fully Completed and Signed Application Form
To Download Loan Application Form in PDF Format.
2. Two Passport Size Photos - Applicant and Co-Applicant
One set to be pasted on the Application Form and second set to be affixed (stapled) to the Application Form
3. Photo ID - Applicant and Co-Applicant (Any one of the following)
4. Residence Proof - Applicant and Co-Applicant (Any one of the following)
Passport With Address
5. Academic Documents of Student
Mark sheet/Certificate of 12th Exam
6. Proof Of Admission (If available)
Printed Admission Letter From the Institute on its Letterhead With Institute's Address
7. Last 8 Months Bank Statements of Co-Applicant (If more than one bank account, provide copies of all) Make sure to include the bank statements of the Bank Account where Salary or Business/ Professional receipts are credited every month.
8. Income Proof of Co-Applicant
In case of Salaried Employee (All the following)
9. If, Collateral - Immovable Property (Flat, House, Non-Agriculture Land) (All the Relevant Documents from the Following List)
Registered Sale Agreement Along With Society Share Certificate
10. All the copies of the above provided documents should be self-attested
Note: Other than original completed application form, Please DO NOT provide any original supporting documents to us at the time of applying for a loan.
Education Loan Eligibility
Check Your Eligibility Criteria Here:
In case the collateral to be provided is not provided by one of the above relatives, then the collateral could be provided by one of the following relatives provided they are brought into the arrangement as Co-borrower(s) viz: Father-in-law; Mother-in-law; Sister-in-law; Brother-in-law; Maternal or Paternal Uncle or Aunt, Grandparents & First Cousins