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What You Need Documents Required For Education Loan In India

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  1. Loan Application Form: Fill out the application form provided by the lender with accurate information.
  2. Proof of Identity (Any One):
    • Aadhar Card
    • Passport
    • Voter ID Card
    • Driving License
    • PAN Card
  3. Proof of Residence (Any One):
    • Aadhar Card
    • Utility bills (electricity, water, gas)
    • Rent agreement
    • Voter ID Card
  4. Academic Records:
    • Admission letter or offer letter from the educational institution.
    • Mark sheets and certificates of your previous academic qualifications (10th, 12th, and any higher education degrees).
  5. Course Details:
    • A detailed breakdown of the course fees and other related expenses provided by the educational institution.
  6. Co-borrower or Guarantor Information:
    • If you have a co-borrower or guarantor, provide their details along with their proof of identity and residence.
  7. Income Proof (Co-borrower/ Guarantor):
    • Income proof documents for the co-borrower or guarantor, such as salary slips, income tax returns, or a statement of assets and liabilities.
  8. Collateral Documents (if applicable):
    • If you are providing collateral or security for the loan, provide documents related to the collateral, such as property documents, land records, or fixed deposit certificates.
  9. Passport-size Photographs: Typically, a few passport-size photographs are required.
  10. Bank Statements:
    • Your personal bank statements for the last 6 months to demonstrate your financial transactions and stability.
  11. Affidavit or Declaration Form (if required):
    • Some lenders may request an affidavit or declaration regarding the intended use of the loan funds.
  12. Other Documents (if applicable):
    • Depending on the lender's policies, you may need to provide additional documents specific to your case.

Please note that the specific documents required can vary among lenders, so it's crucial to check with the lender or financial institution where you plan to apply for the education loan to get a comprehensive list of required documents and to ensure that you meet their eligibility criteria. Additionally, ensure that all the documents you provide are accurate and up-to-date to expedite the loan approval process.

 

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