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Educational Loan

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Educational Loan

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Educational Loan

An educational loan can be availed by students from Public Sector Banks, Private Sector Banks, NBFCs, or Financial Institutions towards payment of academic fees and related expenses, in India or abroad. The educational loan is custom-designed to help students cover their tuition and day-to-day expenses.

Educational loans differ from other types of general loans as they have a lower rate of interest, flexible repayment schedule, moratorium period, and reduced processing fees & charges. Loan and documentation requirements may vary depending on the course, country, and borrower’s profile.

Types of Educational Loans

  • Domestic Educational Loan
  • Overseas Educational Loan
  • Professional Course Loans
  • Post-Graduate Loans
  • UG Loans

Documents Required for Verification and Processing

Required Documents

Academic Details
  • Admission letter with fee break-up
  • Demand letter from college or university
  • SSC, HSC, Graduation Marksheets
  • Previous studies Details & Marksheets.
KYC Documents
  • PAN Card
  • Aadhar Card
  • Passport
  • Voter ID
  • Driving License
Income Tax Returns
  • Last 3 Years ITRs of the Students and parents / guardian
Bank statements  
  • Last 12 months bank statement.
Income Proof Documents of the Students and parents / guardian
  • If salary employees, last 6 months' salary payslips In case of business, last 3 years Audited Balance Sheet of business entity and proof of business conducted.
Existing Loans Details
  • In case of any existing loans, please provide sanction letters and repayment track record / statements of those existing loans.

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