Documents Required for Education Loan In India 2024 – If you’re Planning to study in India in 2024, then you’ll need to familiarize yourself with the different documents that are required for education loan. This post will list all of the essential documents and provide a brief explanation of what each one is used for. Make sure you have them all ready before applying for your education loan – the application process can be a lot easier if everything is in order from the start.
Education Fund It is the dream of every Candidates to pursue higher education abroad. Picturesque landscapes, state-of-the-art infrastructure, the best education system and a promise of a Best lifestyle are some of the factors that draw Candidates from the comfort of their homes to foreign shores. However, all this and more comes with a Cost. Often the dreams of candidates to pursue education abroad are dashed by colleges charging high tuition Cost and Candidates spending so much more on living costs as compared to India. Awards Programmed and similar initiatives by various private and public institutions have made studying abroad possible for limited Candidates who possess the Awards of the brain, leaving the majority out.
Documents Required for Education Loan In India 2024
If you are thinking of pursuing a higher education in India, then you will need to ensure that you have the correct documents in order. This article provides a list of the necessary documents and details on how to obtain them. From getting a proof of identity to filling out application forms, this article has everything you need to know about education loans in India.
It is here that Indian public and private banks along with other Money institutions have stepped in to provide Education Fund to Candidates of all calibers to pursue their dream of studying abroad by Given them with financial assistance. However, there is a stringent eligibility criterion that has been laid down by Money institutions and it is very important for Candidates to satisfy them to be eligible for the Education Fund for studying abroad.
Education Loan Required Documents In India 2024 Details
| Bank Name | All India Bank |
|---|---|
| Lone Name | Education Lone |
| Year | 2024 |
| Article For | Bank Education Loan Required Document In India 2024 Abroad, Interest, Eligibility |
| Categories | Career-Guide |
| Official Site | Click Here |
Education Fund Eligibility Guidelines
It is important for Candidates to understand the eligibility guidelines and qualify the same, to be able to apply to their preferred money lending institution/bank for their Education Fund. The eligibility criteria vary for different banks. However, some Same factors that are taken into account by all money lending institutions (banks) include:
- The Candidates is required to be a citizen of India.
- The loan Candidates must have attained the age of 18 else his/her parents will have to avail of the Fund.
- The Aspirants must possess a good academic background.
- The Candidates must have secured admission to a recognized foreign university/institution/college.
- The desired course which the Candidate sis going to undertake must be a technical or professional one, as banks give preference to job oriented courses.
Also Read-Canara Bank Education Loan In India 2024
Documents Required for Education Loan
If you are planning to get an education loan, or you are already in the process of borrowing money to finance your education, you will need to take some important steps. In this article, we will outline the documents you will need to provide to get a loan, and the steps you need to take to get started. We will also cover some important points to keep in mind when applying for a loan, such as how much money you can borrow, and how long it will take to receive the money. So read on for all the details you need to know about education loans!
While the formalities vary for different banks while applying for an Education Fund, however, there are a set of formalities that are identical across the board, such as documents that you would Needs to disclose along with your Fund Application Form. The documents primarily include but are not limited.
Education Loan documents required for Student-applicants:
- Proof of Identity (either): PAN/ Passport/ Driver’s License/ Voter ID card
- Proof of Residence/ Address (either) Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card
- Valid Indian Passport
- Academic Records: 10th Scorecard and 12th Scorecard
- Graduation Scorecard Semester-wise (if applicable)
- Entrance Exam Scorecard through which admission has been secured including GMAT, GRE, TOEFL, IELTS scores
- Proof of admission: Offer Letter or Admission Letter from the Institution. A conditional admission letter may be considered in the case of studying abroad.
- Statement of cost of study/ Schedule of expenses
- 2 passport-size photographs
- If any Last loans from other Banks/Lenders, then the Loan A/C statement for the last 1 year
Education Loan documents required from Co-applicants
If you are a co-applicant for a higher education loan, you will need to familiarize yourself with the Education Loan Documents required from both you and your partner. The documents will include your identification information, such as your driver’s license or passport number, and your co-applicant’s identification information, such as their social security number or tax ID number. You will also need to provide your current address, the address of the school you are applying to attend, and the loan amount you are applying for.
- Proof of Identity (any one): PAN/ Passport/ Driver’s License/ Voter ID card
- Proof of Residence/ Address (any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card
- 2 passport-size photographs
- If any Last loans from other Banks/Lenders, then the Loan A/C statement for the last 1 year
We have also Given the Income Proof documents that would be Needs from the Co-applicant as part of the Education Fund process.
Documents required for Income Proof for Salaried Co-applicant-Guarantor
- Salary Slip or Salary Certificate of Pervious 3 months
- Copy of Form 16 for the last 2 years or a copy of IT Returns for the last 2 years, acknowledged by IT Dept.
- Bank account statement for the pervious 6 months (of Salary Account)
Documents required for Income Proof for Self-employed Co-applicant/ Guarantor:
- Business address proof (If applicable)
- IT returns for the last 2 years (if IT payee)
- TDS Certificate (Form 16A, if applicable)
- Certificate of qualification (for C.A. / Doctor and other professionals)
- Bank account statement for last 6 months
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