Education loan

Education loan Eligibility

  • Indian nationality students, who are aged between 16-35 years wants to pursue
    graduate/post-graduation in professional fields such as – Engineering, medicine, MCA,
    Management, MBA, MS, etc.
  • If students wants to borrow a loan more than Rs. 7.5 Lakh, an ancillary security will be
    needed.
  • Guarantee admission in a Universities/College affiliated to Govt. /UGC/AICTE etc., such as
    Engineering, Medicine, Management, Hotels and Hospitality, Agriculture, Pure science, Fine
    arts and design, Diploma or vocational technical courses such as air hostess, aviation are
    something like that.
  • Co-applicant is compulsory for every full time programs. Co-applicant includes- Parent,
    Guardian, Spouse, and Parent in law (if married).

Education loan covers:

Accommodation charges

  • Books and equipment’s including computer system or Laptop
  • Exam and library fees
  • 100% College Tuition Fees payable
  • Travelling expenses abroad
  • Additional reasonable expenses needed to complete course

Documents required for education loan

  • KYC documents
  • Letter of admission

  • Complete break up costs of the course

  • Academic certificates from schooling till your higher studies

  • Every Loan application form and photographs

  • PAN and Aadhar card of students and Parents /Guardian

  • Proof of identity ( Passport/ Driving Licence/ Any photo identity/ Aadhar)

  • Proof of residence ( Passport/ Driving License/ Telephone bill, Electricity bill)

  • Proof of income ( Salary Slips/ Form 16) Co borrower/ Parent/Guardian)

  • Guarantee Bank account statement for last 6 months of students/ Co- borrower

  • Detailed statement of assets & liabilities of parent/ Guardian/ Co –borrower

  • It return/IT assessment order of 2 years of Co-borrower/ Parent/Guardian. In case of IT
    payee.

Education loan

Education is expensive, when students aim to have reputed institution or a foreign degree. Education loan bring light on to build skills and career. Education loan has provided a hope for many students to learn the subject of their interest and Education loan has become a good support for students. In this era, organization and industries looking for technically and professionally skilled students in large numbers. Education loan assist the students to grab this opportunity and go for learning by utilizing this loan. Education loans playing a priority in loan lending category.
Governments also supports by offering facility that education loan should not be denied, if students meets the parameters.

Why should we go for Education loan?

In order to get the quality education, at higher level of studies. Especially for the professional courses like medicine, engineering, management, etc. either at graduation or post-graduation level.
Education loan offers repayment flexibility to the students and ease in getting a loan for eligible students. Education loan provides right support at right time. No students have to waste their talent
because of lack of money. Education loan was aimed at providing assist to students in getting quality education and no students should will suffer or waste their talent because of money issue.

Benefits of Education Loan:

  • Makes education accessible
  • Easily available
  • Specialized loan schemes
  • Repayment moratorium
  • Interest rate benefits
  • Independence of student
  • Tax exemptions
  • Parent rescued from recurring burden
  • People of different classes can get a loan
  • Best way to pursue higher education
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