Know the Documents Required for Education Loan for Indian education

Published: Thursday May 23, 2019 15:52

With the rise in the cost of education every year, it is increasingly becoming tough for students to pursue higher education in India. So is getting the education loans fund academic and extra expenses. There are lots of Bank who provides educational loans. Every bank in with its own policies tries to provide the students with affordable and convenient loans. 

Education Loan for Indian Education Documentation

The documents required for education loans for Indian education are minimal, and academic records and references.

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.

Self Employed- Professional- ITR of previous 2 years along with computation of Income, Audited balance sheet/profit 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.

 


**Note the above information may change without notice. Refer to the respective Bank Website for updated information.

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