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What are the documents required for education loan?

What are the documents required for education loan?

2 min read

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 Rs. 5 crore* or higher, 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.

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.

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