Education Loan on Property

Yes, co-owned properties are eligible as long as all owners co-apply for the loan against property.

To qualify for a loan against property, your property’s title should be free of litigation. There should be no existing mortgage on it.

Yes, the property must be insured for the entire tenor of the loan. You must submit the documents for proof whenever required.

You only have to provide some basic documents and fulfill simple eligibility criteria to successfully apply for an education loan.

The documents required for an education loan on the property are – Copy of ownership papers of the property to be mortgaged

• Bank account statements for the last 3 months or 6 months as a salaried or self-employed applicant, respectively
• Proof of address like latest utility (electricity, telephone, post-paid mobile) bill, municipality tax receipt, life insurance policy, etc.
• PAN card or Aadhaar card
• Income tax returns

An education loan on property does not implement any restrictions on how borrowers decide to use the sanctioned loan amount. This allows borrowers to meet both direct and ancillary expenses related to pursuing higher education, whether in the country or abroad.

Furthermore, the high education loan amount helps them finance higher education costs in renowned colleges or universities across the world. For instance, they can account for expenses directly related to the pursuance of higher education, like admission costs, tuition fees, exam fees, lab charges, etc. The sanctioned amount can also easily account for bills related to food, accommodation, and other living expenses if need be.

*Conditions apply