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.
Did you know you can leverage the value of your existing property to secure a high-value loan for your child’s education? This ensures you can provide quality education without compromising on your other financial goals. By pledging the value of your own property, you can access large funds —all with flexible repayment options and competitive interest rates. Explore our offers on loan against property today!
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 Visit the Bajaj Finserv Loan Against Property webpage and fill the application form
- 2 Enter your personal information and property details
- 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
Resident of India, owning property in the following BFL locations:
Delhi & NCR, Mumbai & MMR, Chennai, Hyderabad, Bangalore, Pune, Ahmedabad -
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
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
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
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
Self-employed individual with a steady income from business
Opting for a loan against property can help salaried professionals manage high-value funding requirements without disrupting monthly cash flow, thanks to flexible repayment options. This secured loan allows you to access funds while retaining ownership, making it an excellent option for business expansion, education, medical expenses, or debt consolidation. With lower interest rates and flexible repayment terms, a loan against property provides a smart way to unlock your property's financial potential. Check your loan against property eligibility in seconds.
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
Ensuring all your documentation is in order can expedite the loan approval process, helping you access funds when you need them most. Check the eligibility and find out how much you can borrow now!
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.
Your property holds the potential to turn your child’s dream of studying abroad into reality. With a loan against property, you can access funds swiftly and effortlessly without touching your savings. Unlock your property’s financial value with lower interest rates and flexible repayment options. Take the smart step today—Check your offer in just 2 clicks!
