Education Loan

Education loan is available up to Rs: 10/- lacs for study in the faculty of Medical, Engineering and IT.
India & abroad up to Rs. 15 lakh.

Applicant details

  • Applicant has to submit copy of mark sheet, result sheet, school leaving certificate pertaining to 12th standard.
  • Photograph-two copies
  • Copy of income tax return of the father who will be Co. Borrower for the loan.
  • Copy of PAN card of the co-borrower.
  • Bank Statement of last two years.
  • Address proof -Electric bill/ telephone bill (any one)
  • Photo Proof- Voter card / Driving license (any one)
  • Visa copy.
  • Payment send to direct college by fee statement.
  • Payment Shedual of college
  • College approval by government

Guarantor details

  • Photograph-2 Copies
  • Last tax bill + Receipt of paid
  • Last 3 year income tax return copy + Receipt of paid
  • Address proof – electric bill /telephone bill (any one)
  • Photo proof – Pan card / Voter card / Driving license (Any one)

Conditions

  • Father of the student has to submit document of the property for registered mortgage in favour of bank. Bank charge will be noted in Association / Society book.
  • Valuation of the property will be required in case of old property.
  • Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
  • Bank will keep 25% margin on tuition fee, Hostel fee or total package of fees.
  • Applicant has to submit admission letter and details of college / University.
  • Applicant has to submit progress report of each semesters.
  • Loan is to be repaid along with interest in 60 equal monthly instalments. The repayment will start as soon as applicant complete study and obtain degree. During study period the applicant has to pay interest on regular monthly.
  • Father will stand as co-borrower.
  • Applicant has to provide twoguarantor.
  • Applicant has to take share @ 1.00% of the limit.

Requirement Documents

Valid Photo I.D.(Any One) Address Proof (Any One)
Adhar Card Adhar Card
Pan Card Electricity Bill (not more than 6 months old)
Voter ID Card Municipal Tax Bill
Pass Port Gas Bill  / Telephone Bill :Latest
College / School ID Card Latest LIC Primium Receipt
Government / Semi Government ID Card Other Bank Passbook
  • Passport Size Photograph 2 Copies
  • Birth Certificate for minor account
  • Introduction From Existing account Holder