What documents are required for education loan?

What documents are required for education loan?

Documents required for Education Loan

  • KYC documents.
  • Bank Statement / Pass Book of last 6 months.
  • Optional – Guarantor Form.
  • Copy of admission letter of the Institute along with fees schedule.
  • Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses.

What are the documents required for educational loan in SBI?

Checklist of Documents to be submitted along-with duly filled Loan Application Form

  • Mark sheet of 10th, 12th, Graduation (if applicable), Entrance Exam Result.
  • Proof of admission to course [ Offer Letter/ Admission Letter/ ID card if available]
  • Schedule of expenses for course.

Is original documents required for education loan?

Details of identity documents required for education loan Valid passport issued by GOI (Government of India) Voter’s ID card (not accepted by all banks) Current house lease agreement. Magistrate/Gram Panchayat affidavit (not applicable for all banks)

What is proof of admission for education loan?

ID Proof (any one of the following) : Passport, PAN card, Voter’s ID card, Driving License, Aadhaar card, etc. Address Proof (any one of the following) : Driving license, Ration card, Voter’s ID card, Passport, Aadhaar card, etc.

Can we take education loan from 2nd year?

Well, the answer to the above question is – Yes, a student can be eligible for a second education loan. For this, they can either apply for a second education loan from the bank they already have taken their first loan from or they can apply to a different bank.

Is education loan free of interest?

– No, education loan is not interest-free in India. However, student loan without interest is a possibility in India with scholarships and subsidies. You can negate the effect of interest on your education loan by availing 0% interest scholarships or subsidies with Government subsidy schemes.

Can I get education loan before admission?

No. You can apply for education loan before getting admission confirmation from University / College. If your case is approved, you’ll get a conditional loan sanction letter. Students and parents feel confident to apply for better colleges, without worrying about how to fund the education cost.

Can we take education loan from 2 banks?

Which is an example of SBH education loan?

SBH Education Loan. For example, a student who took a loan for a Masters degree may approach the bank for a second loan for pursuing a PhD. Education loan from the State Bank of Hyderabad considers the quality of the course or institution, requirements for studies and future income prospects of the loan applicant.

What kind of documents are required for education loan?

Education loan documents required for different types of liquid securities are: Fixed Deposit (FD): The FD must be with the bank you are taking a loan from. An FD paper/certificate is the only education loan document required. Insurance policy: Education loan documents required are Policy paper and Surrender value certificate.

What are the requirements for education loan from SBI?

If the candidate is applying for an education loan above 7.5 lakhs, the parent or guardian must be the co-borrower and the candidate must show tangible collateral security. SBI charges ‘zero’ processing fee for some of the education loans.

What kind of documents are required for SBI loan?

Once the candidate receives the SBI document checklist, he/she is expected to gather the documents mentioned in the checklist. Here is a rough idea of what documents would be required;