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Education Loan Procedure – How to Apply for It?

The cost of education is shooting up, especially abroad. Parents prefer to avail Education Loans to fund their child’s higher education and meet all other related expenses effectively. Before availing, though, it is vital for them to know the application procedure for an Education Loan.

Education Loan on Property from Bajaj Finserv comes with high amounts of up to Rs. 3.5 Crore. Apply for a Student Loan to enjoy the fastest disbursal with minimal documents. Meet the various educational expenses of your child like tuition fees, flight tickets, living expenses, etc. more strategically.

Also, take benefit of features like attractive mortgage interest rates, flexible repayment tenor, Flexi Loan facility, balance transfer facility, part prepayment, foreclosure, etc. The availability of an online application makes it more convenient to apply for education loan.

Get money in bank in just 4 days* with a Loan Against Property.

Apply now

Steps to Apply for Education Loan on Property

Bajaj Finserv enables you to apply for this secured loan via a simple and easy Education Loan process.

Step 1 – Apply Online
Go to the Student Loan application page for the online application form. Fill it up with accurate details and submit to complete the procedure.

Step 2 – Respond To Our Representative
Our representatives will get in touch with you within the next 24 hours after you complete the procedure to apply online for an Education Loan.

Step 3 – Receive Loan Approval Confirmation
Receive a call or email to confirm your loan approval. Generally, it takes less than 48 hours to approve a loan application.

Step 4 – Furnish The Necessary Documents
We offer doorstep service to collect documents after the application for Education Loan is approved. Hand over your documents to our representative, and get the loan disbursed to your account within four days of approval.

Make sure to keep the following documents handy:

  • Address proof
  • Aadhaar/PAN card
  • A photocopy of the documents of property you will mortgage
  • Bank account statement of the last 3 months for salaried individual, and last 6 months for self-employed borrowers.

Additionally, a salaried individual also needs to furnish his/her latest salary slips.

Submit these documents to complete your Education Loan procedure, and get the loan amount disbursed at the earliest.

What are the Eligibility Criteria for Education Loan on Property?

Know the necessary education loan eligibility criteria to fulfil your needs.

For Self-Employed Individuals:

Avail a Loan Against Property for Education by meeting the following –

  • Age between 25 and 70 years
  • Have a regular income source
  • Be an Indian resident, living in cities listed by Bajaj Finserv

For Salaried Personnel:

Fulfil these criteria for an Education Loan for MBBS or other higher studies –

  • Age between 33 and 58 years
  • Be a salaried employee in a private company, public sector on an MNC
  • Be a resident of India, living in the cities listed by Bajaj Finserv

Apply for an Education Loan on Property, get it approved and track the loan status online with Bajaj Finserv’s customer portal Experia.

Finance your child’s dreams with an Education Loan. Get subsidy on interest by filling up the Education Loan interest subsidy application form.

Did you know, a good CIBIL score can help you get a better deal on loans and credit cards?