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Education Loan
Education loans are boon for people who
want to do higher studies but could not
afford it. Education Loan in India is provided
by banks and financial institutions and
covers fee for all years, which is normally
disbursed to the college/institute directly by
the bank.

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Education Loan & MFB

100% Hassle Free
Compare Education loans among various bank
Apply Online

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Education Loan Check List

Basic Documents: Address, Age and Nationality Proof.
Attested Marks Cards: Starting from SSLC/10th Std.
Admission Letter as issued by the admitting School/College/Institute.
All essential documents issued by the admitting School/College/Institute, including

prospectus, breakup of fees, etc.

Letter from admitting School/College/Institute that stipulates non-availability of
hostel facility.
Income Proof: Bank statements (6 months), Salary slips (3 months) & ITR of
Parent/Guarantor.
Passport sized photographs (2 nos. each) for applicant, guarantor and parent.
Studying Abroad: Employment Contract.
Studying Abroad: Entry Permit (Validity, issuing authority etc., must be noted).
Studying Abroad: Admission letter & I-20 form from Foreign Institution.
Studying Abroad: Passport & Visa.
Documents confirming upon the security/collateral.
Substantiating documents if immovable property is offered as security.
If Employed: Resignation letter, Acceptance of Resignation letter or Sanction letter
for study leave.

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Education Loan Eligibility

The applicant must be a resident Indian.

He/she must have secured admission into a recognized course of

study, in India or abroad, through an entrance test or other such

qualification procedure.
If the applicant is a Non-Resident Indian (NRI), he/she must hold a
valid Indian Passport.
Courses applicable in India- Graduation, Post-Graduation, Diploma
programs, Technical courses, Management courses and other
professional courses. All from recognized universities.
Courses applicable Abroad- Graduation, Post-Graduation,
Certificate Degree courses from CIMA- London, CPA-USA and other
such well known educational entities.
The applicant must provide a collateral/security that is
enforceable in India.

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Documents Required for an

Education Loan
Completed loan application form.
Documents for proof of age (self-attested).
ID and Address proof.
Passport sized photographs of the applicant, guarantor, etc.
Copies of highest educational qualification (degree/post-

graduation, etc.)
Proof of income (IT returns of parents/guarantor).
Six months bank statement for account held by
applicant/parent/guarantor.
Details of collateral security marked by a Government approved
valuer (if applicable).
Passport/Visa copy, airfare cost as established in documents (for
studies abroad).
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