Unlock opportunities for your child’s higher education—whether in India or abroad—with a Loan Against Property for Education. This financing option lets you leverage your property to secure funds of up to Rs. 10.50 crore*, covering tuition fees, living expenses, travel, and other academic costs. With approvals and disbursals often completed within 72 hours*, the process is quick and hassle-free, ensuring you don’t face delays in meeting educational needs. To make the application seamless, knowing the documents required for an education loan in advance is crucial. For salaried individuals, key documents include salary slips, the last three months’ bank statements, PAN or Form 60, identity proof, address proof, property ownership papers, title deeds, and income tax returns. Self-employed applicants must submit similar documents, along with six months of bank statements and financial statements instead of salary slips.
What are the documents required for education loan?
The cost of education is on a steady rise with national institutes charging lakhs of rupees as tuition. This gets costlier in the case of overseas education and funding a child’s academic aspirations requires a great deal of funding. The Bajaj Finserv Education Loan on Property is designed to meet this funding requirement easily and with a single financing option.
This instrument offers ample funding of up to Rs. 10.50 crore* basis eligibility. What’s more, this instrument has easy-to-meet education loan eligibility criteria making it accessible for all prospective borrowers. To prove your eligibility, you simply have to submit the following documentation when you apply:
For salaried individuals*
- Latest salary slips
- Bank account statements of the previous 3 months
- PAN card/ Form 60 of all applicants
- ID proof
- Address proof
- Document of the property to be mortgaged
- IT returns
- Title documents
For self-employed individuals*
Following are the criteria for self-employed individuals.
- Primary bank account statements of the previous 6 months
- PAN card/ Form 60 of all applicants
- Address proof
- ID proof
- Income documents like ITR/ financial statements, etc.
- Documents of the property to be mortgaged
- Title documents
*Please note that the list of documents here is indicative. During loan processing additional documents may be required.
Education loan documents for co-applicant
Approach Bajaj Finserv to know all Vidyalakshmi scheme details and apply for the best financing option for your child’s higher education. Students from the minority community can avail education loan under government schemes to avail an interest subsidy.
Know all Vidyalakshmi Scheme details and apply for the best financing option for your child’s higher education. Students from the minority community can also avail education loans under government schemes to benefit from interest subsidies. In addition to such schemes, parents can explore alternatives like a loan against property, which allows them to leverage their property to secure substantial funds for academic expenses. This ensures financial flexibility and timely access to the resources needed for quality education.
Frequently asked questions
Yes, Aadhaar card is generally required as a primary identity and KYC proof for education loan applications in India, ensuring compliance with government regulations and faster verification.
Academic documents include mark sheets, passing certificates, admission letters, fee structure from the institution, entrance exam results, and previous degree or diploma certificates to establish eligibility for the education loan.
Yes, a valid passport is mandatory for students applying for overseas education loans, as it serves as proof of identity, travel eligibility, and foreign university admission verification.
Guarantor’s eligibility documents generally include identity proof, address proof, income proof like salary slips or ITR, bank statements, and property ownership documents if collateral support is required.
Yes, additional documents such as admission offer letter, visa approval, travel documents, and proof of accommodation arrangements are required when applying for education loans for overseas university admissions.
Yes, most lenders accept scanned or digital copies during the initial education loan application process, but original documents must be verified and submitted during final approval and disbursal.
