Documents Required For Education Loan, Check List Of Documents, Eligibility

Documents Required For Education Loan, Check List Of Documents, Eligibility:Many Banks who provide the education loans to the brilliant students set a eligibility criteria for co-applicants as well as for the students. All loans needed co applicants who fulfill the basic criteria of applying for a education loan. A co – applicants is a self- employed or salaried parents, relative or a sibling with a steady income source.

The education loan amount is decided on the basis of work experience, age and annual income in the current organization and total working experience of the candidate, profession and qualification of the co-applicants by the banks. Check out the Documents Needed For Education Loan from here.

Documents Required For Education Loan, Check List Of Documents, Eligibility:-

  1. Signed and completely filled Application form
  2. Two passport size recent photographs
  3. Photo id proof
  4. Address proof
  5. Academic certificate and documents of the students
  6. Admission Proof
  7. Co-applicants Bank Statement of Last 8 months
  8. Co applicants income proof

Eligibility For Education Loan:-

  • In case of salaried employee
  • Recent 3 salary slips or certificate of salary on employees letterhead
  • Employees Current 2 years form 16 or 2 years income tax certificate
  • Any income proof
  • In case of professional or self employee
  • Income tax returns of last 2 years
  • Provisional Financial statement or certified financial statement duly certified by charted accountant.
  • Office proof (i.e. Lease deed, title deed, utility bill etc.)
  • Any other proof of income
  1. If Collateral – Immovable property (House, Non- agriculture land or flat)
  • Title Property Deed
  • Registered agreement of sale along with certificate of society share.
  • Original receipt of registration for above agreement
  • Mortgage NOC from Builder/society
  • Previous chain of Sale deed establishing title
  • Allotment letter issued by Municipal Corporation/ Authorize by Government like MHADA, CIDCO etc.
  • Property Tax bill with receipts
  • Recent Maintenance Bill with receipts issued from society or builder.