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Our Education Loan Services

Over the last few years, the number of students aspiring to study abroad has increased. And needless to mention, there is quite a few universities and institutes that are very much welcoming for the Indian students. Finances, which used to be a main concern for most Indian students, are no longer a matter of trouble now. Thanks to the various education loans that are available for students today.

While we can guide you throughout the process of getting your education loan approved, there are lot of things or rather requirements that you should be aware of. So, to begin with, here is a list of the general requirements that apply for any student applying in a foreign university:

  • A co-applicant is a must (could be parents, a sibling or a spouse). If a student goes abroad, lender recovers the remainder from co-applicant
  • For loans between Rs 4 – 7.5 lacs a third party guarantor is required
  • Loan repayment commences 6 to 12 months after course completion
  • Collateral needs to be provided for student loans above Rs 7.5 lacs

Apart from these general requirements, lenders have their own criteria. For those applying for education loan for India, lenders will look for AICTE or UGC approval. Now, education loan required for India (Inter-alia) include:

  • Tuition fees
  • Charges for examination, library, laboratory and hostel
  • Cost of purchasing books, equipment, instruments and uniform
  • Travel expenses for study abroad
  • Caution money, refundable deposit, etc.
  • Study tours, exchange programs and project work

And following are the main documents required in the process:

  • Mark sheet for last qualifying examination for school and graduate studies in India
  • Proof of admission to the course
  • Schedule of expenses for the course
  • Copy of letter confirming scholarship, if any
  • Copy of Foreign Exchange permit (if available)
  • Two passport size photographs
  • Statement of borrowers bank account for last six months
  • Income Tax assessment order not older than two years
  • Brief statement of Borrowers Assets and Liabilities
  • If not a customer of the lending bank provide proof of identity and residence

On the other hand, for studying in India, the documents required would be:

  • SSC, HSC or Graduation mark sheets whatever is applicable
  • KYC
  • Age Proof
  • Signature Proof
  • Identity Proof
  • Residence Proof
  • Application Form and Photographs
  • Income Documents of parents/guardian
  • Collaterals in the form of FDs / Immovable Property

How Can We Help?

We aim at making your process of getting an education loan easier and faster. With our wide network of professionals and consultants, we fulfil your dream of a degree in your chosen course and university. Contact us today if you are looking for education loan assistance.