Study loan on property for Canada

2 min read

Canada is an increasingly popular destination for Indian students looking to pursue higher education abroad. As a matter of fact, in 2018, the number of Indian students in Canada grew by 40%. However, studying in Canada is expensive and one of the best ways to finance such an undertaking is to avail Bajaj Finserv Education Loan Against Property.

This instrument grants access to sanctions of up to Rs. 5 Crore* that you can use to cover all education-related costs. Right from tuition fees to accommodation costs and flight tickets, this funding can help meet all your child’s needs. To obtain this funding, you need to pledge a self-owned residential or commercial property as collateral and submit the required documentation. Moreover, considering the importance of planning loan repayment, be sure to use the education loan on property calculator to help forecast your instalments and know the cost of the loan.

Steps to apply for an education loan against property for Canada

To apply for a study loan against property in India, follow these simple steps.

  • Fill the online application form
  • Await contact from an authorized Bajaj Finserv representative
  • Submit the necessary documents to the representative to receive the sanction

Eligibility Criteria for an Education Loan on Property for Studying in Canada

Both salaried and self-employed persons can access an education loan against property from Bajaj Finserv. A CIBIL score of 750 or more along with a well-maintained property can help you get approval quickly and obtain financing at a favourable property loan interest rate. Besides these requirements, Bajaj Finserv lists simple eligibility terms, which are as follows.

For Self-Employed Individuals:

  • You must be between 25 and 70 years of age
  • You must possess a regular source of income
  • You should be an Indian citizen residing in Mumbai, Ahmedabad, Chennai, Indore, Udaipur, Delhi, Thane, Kolkata, Aurangabad, Surat, Pune, Bangalore, Kochi, Vizag or Hyderabad

For Salaried Individuals:

  • You must be between 33 and 58 years of age
  • You must be an employee at an MNC, private or public sector company
  • You must be a resident citizen of India

Documents Required for Study Loan on Property for Canada

In order to prove your eligibility for an education loan against property, you must produce certain documents. Bajaj Finserv has minimal documentation requirements, as follows.

For Self-Employed Individuals:

  • Last 6 months’ bank account statements
  • Proof of address
  • Aadhaar card/ PAN card
  • Documents of the property being mortgaged

For Salaried Individuals:

  • Proof of address
  • PAN card/ Aadhaar card
  • Latest salary slips
  • Last 3 months’ bank account statements
  • IT returns
  • Documents of the property being mortgaged

Steps to apply for an education loan against property for Canada

To apply for a study loan against property in India, follow these simple steps:

  • Fill the online application form
  • Await contact from an authorised Bajaj Finserv representative
  • Submit the necessary documents to the representative to receive the sanction

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