Apply education loans with easy step, compare student loan scheme among different banks, check for the eligibility criteria and documents required for the higher education loan.

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2. Education Loan
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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.

3. Education Loan & MFB
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 100% Hassle Free
 Compare Education loans among various bank
 Apply Online

4. 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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5. 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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6. 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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