Purpose
Eduaction Loan :
The Education loan products can be categorized broadly into the following types :
Education Loan Options:
1) Education in India
2) Education Abroad
Loan Amount:
75% of the value assessed by the Bank’s panelled gold valuer.
Eligibility Criteria:
Parents / Guardians (or the Student / Candidate if a major) must apply jointly. Eligible applicants include:
18 to 65 years
Loan Period:
Up to 120 Months
1) Education in India
2) Education Abroad
Loan Amount:
75% of the value assessed by the Bank’s panelled gold valuer.
Eligibility Criteria:
Parents / Guardians (or the Student / Candidate if a major) must apply jointly. Eligible applicants include:
- Salaried Individuals
- Self-Employed Professionals (SEP)
- Self-Employed Non-Professionals (SENP)
- Business Persons
18 to 65 years
Loan Period:
Up to 120 Months
Security:
Gold Ornaments
Guarantor:
No guarantor is required
Required Documents:
Gold Ornaments
Guarantor:
No guarantor is required
Required Documents:
- Filled loan application form
- 2 Passport Size Photographs
- Identity Proof – Passport / Driving License / Voter ID / PAN
- Residential Address Proof – Leave & License, Registered Rent Agreement, Utility Bill (within 3 months), Passport
- Compliance of KYC norms
- Letter from the Head of Institute admitting the student for the course with fee schedule / I-20 form (for studies abroad)
- Attested copy of valid passport and visa (for studies abroad)
- Copies of mark sheets / passing certificate of last course completed
- Form 16 – Minimum 2–3 Years
- IT Returns – Minimum 2–3 Years
- P&L and Balance Sheet with schedules (applicant/co-applicant) – 2–3 Years
- Salary Slips – Latest 3 months (of parent)
- Bank Statements – 6 Months to 1 Year
- Job Continuity Proof (of parent/guardian)
- Proof of regular income (for parents/guardians) to support interest and EMI payments