How to apply for a loan for higher education – A complete guide

Pursuing higher education is now a priority for many, but it comes at a high cost. The tuition fees for both national and international institutes range into several lakhs of rupees, and it doesn’t account for any ancillary expenses involved. This high cost is now pushing parents to opt for alternate funding options such as the education loan.

This instrument can help parents pay for their child’s higher education and address all other expenses involved with it. With a Bajaj Finserv Education Loan on Property, you can access a sanction of up to Rs. 10.50 crore* for this purpose. This instrument comes at attractive mortgage loan interest rates, flexible tenor options, and swift loan processing and disbursal protocols.

Moreover, you can apply for a student loan from Bajaj Finserv ‘s Education Loan online and enjoy a truly hassle-free experience.

Steps to apply for an education loan against property

The process to apply for a Bajaj Finserv Education loan online is very easy. Follow these simple steps to get started today.

  1. 1 Visit the Bajaj Finserv Loan Against Property webpage and fill the application form
  2. 2 Enter your personal information and property details
  3. 3 Input your income details to access a personalised offer

Once you submit your information, an authorised representative will contact you with further loan processing instructions at the earliest.

For salaried individuals - Eligibility criteria for education loan on property

The following eligibility criteria is in regard to salaried individuals.

  • Nationality

    Nationality

    Resident of India, owning property in the following BFL locations:
    Delhi & NCR, Mumbai & MMR, Chennai, Hyderabad, Bangalore, Pune, Ahmedabad

  • Age

    Age

    You must be between 25 years (18 years for non-financial property owners) to 85 years* (including non-financial property owners)
    * 85 years* of age or less at the time of loan maturity

  • Employment

    Employment

    Salaried employee of any private, public, or multinational organisation.

For self-employed individuals - Eligibility criteria for education loan on property

The following eligibility criteria is regarding self-employed individuals

  • Nationality

    Nationality

    Resident of India, owning property in the following BFL locations:
    Bangalore, Indore, Nagpur, Vijayawada, Pune, Chennai, Madurai, Surat, Delhi & NCR, Lucknow, Hyderabad, Cochin, Mumbai,
    Jaipur, Ahmedabad

  • Age

    Age

    You must be between 25 years (18 years for non-financial property owners) to 85 years* (including non-financial property owners)
    * 85 years* of age or less at the time of loan maturity

  • Employment

    Employment

    Self-employed individual with a steady income from business

Documentation checklist for salaried individuals

Salaried individuals will need the following documents in order for applying for an education loan against property.

  • 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

Documentation checklist for self-employed individuals

Self-employed individuals will need the following documents for applying for an education loan against property.

  • 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

**This list is indicative. Additional documents may be required during loan processing.

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