What Are The Documents Required For Education Loan?

Today, quality education demands a substantial investment to achieve a student’s academic goals successfully. In India, the cost of education starts from around Rs. 10 Lakh – Rs. 30 Lakh depending on the institute. The same may rise by 30% - 50% if it’s abroad and includes other charges of accommodation, travel, medical issues, etc.

Bajaj Finserv’s Education Loan on Property is customised to meet all these requirements with a single financing option. It prevents you from breaking your savings or emergency funds and offers you sufficient funding up to Rs. 3.5 Crore at affordable rate of interest.

This education loan eligibility criteria comes with a transparent policy, making it more accessible for borrowers. Besides easy-to-meet eligibility criteria, you need to submit a few essential documents.

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Education Loan Details: Documents

  1. Income Proof
    Applicants who are working at any private/public concern or an MNC need to submit their latest salary slips as income proof.
  2. Proof Of Identity
    You can provide Aadhaar card, PAN card, Voter ID, etc. as your proof of identity to process the Study Loan.
  3. Proof Of Address
    Address proof may include Passport, Driving License, PAN card, Aadhaar card, etc.

    Also Read: Education Loan Schemes
  4. Property Documents
    Provide copies of all the necessary documents of the property mortgaged.
  5. Bank Statements
    Salaried applicants need to submit updated bank account statements of the last 3 months while self-employed individuals must submit statements of 6 months.

    Along with the above, salaried borrowers should provide their IT returns, and recent salary slips to avail the Student Loan in India. You may need to submit additional documents if required while processing the Loan Against Property for Education.

    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 interest subsidy.