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Education Loan Documents Required

Documents Required for Education Loan in India

A general check list of documents required for education loan is as follows. Apart from the below mentioned documents, banks can ask for additional documents before granting education loan according to respective bank’s policy.

  1. Loan application form ( Completed and duly signed)
  2. Two Passport sized photographs of the applicant, guarantor, etc.
  3. Admission Letter from the University/College/Institution
  4. A detailed statement giving the Fee breakdown, tuition fees and other charges from the institution
  5. Certificate copies of highest educational qualification (degree/post-graduation, etc.)
  6. Mark-sheets, from class X to the last/highest qualifying exam cleared
  7. Photo ID proof and address proof of Student & Co-Applicant (Any one of the following)
    ·  Voter ID card
    ·  Passport
    ·  Aadhar Card
    ·  Driving License
    ·  Permanent Account Number (PAN) Card
  8. Photo ID proof and address proof of Student & Co-Applicant (Any one of the following)
    ·  Bank statement
    ·  Rent Agreement
    ·  Voter ID card
    ·  Ration card
    ·  Passport
    ·  Driving License
    ·  Telephone/Water/ Electricity/ credit card bill or Property tax
  9. Income of income proof (IT returns of parents/guarantor)
  10. Past six month’s bank statement for an account held by student and co-applicant
  11. A declaration/affidavit to confirm no other loan has been availed
Salaried individual
 -Latest salary slip along with Form 16
 -Bank statement for the last six months for salary account
Self-employed businessmen/professionals
 -Highest educational degree proof
 -Latest ITR, computation of income, Profit & Loss and Balance Sheet certified by a CA
 -Business continuity proof
If, Collateral – Immovable Property (Flat, House, Non-Agriculture Land) (All the Relevant Documents from the Following List)
  • Property Title Deed
  • 7 / 12 extracts in case of land
  • Registered Sale Agreement Along With Society Share Certificate
  • Original Registration receipt for the above agreement
  • Allotment Letter by Municipal Corporation / Authorized Govt. Authority like MHADA, CIDCO, etc. Please add HUDA, DDA, JDA, GIDC etc.,
  • Previous Chain of Sale Deed establishing title
  • Latest Maintenance bill along with Receipts issued by builder/ society,
  • Latest Property tax bill along with receipts,
  • NOC for mortgage from society/builder, Approved building plan
  • Encumbrance certificates as on date etc.,

Apart from the above mentioned documents, banks can ask for additional documents according to respective bank’s policy. It is in the interest of the applicant to see to it that the documents are submitted in the prescribed format for a hassle free application process.