Education Loan

List of the documents may be asked by the Banks.Proof of identification: Adhaar card/PAN Card/Passport/Driving Licence/Election ID card

Proof of residence: Electricity bill/Latest rent slip/Assessment Order/Telephone bill/Employer’s certificate regarding the permanent address.

  • 3 Passport size photograph of the borrowers, Co-borrower & guarantor (if any).
  • Duly filled up the application form.
  • Statement of Assets & Liability of borrower, co(Bio-Data)
  • Signature&Photograph(Borrower,Co-borrower&guarantor)identification
    under branch seal on application and bio-data from.
  • Proof of business address-Registration certificate/VAT or Sales Tax receipt.
  • Bank a/c statement for the last 6 months.
  • AICTE approval for the course.
  • Any gap in studies

ADMISSION RELATED DOCUMENTS

  • Mark-sheet of the student [10th onwards].
  • Proof of admission to the course.
  • Bona fide certificate from college.
  • Copies of letter confirming scholarship, freeship, studentship etc.
  • Prospectus/documents evidencing course commencement & duration
  • Schedule of expenses for the course

Evidence showing admission secured to the course through Entrance
Exam/Selection process.

INCOME RELATED DOCUMENTS
For Salaried
  • Latest original salary slip showing all deductions
  • TDSCertificate [Form16]©ofITReturnsforthelast2financialyearsduly acknowledged by I.T Department.
  • Employment details for the last 5 years.

For Self-employed/Professionals/Business.

  • 2 years IT Returns duly acknowledge by I.T Department/I.T Assessment Orders for computation of income. Copies of Challans in respect of advance payment of income tax.

EDUCATION LOAN INTEREST RATE TABLE (int. rate may vary)

Bank Name Upto 4 Lacs 4 to 7.5 Lacs Website
SBI 11.25 11.75 sbi.co.in
PNB 10.50 11.25 pnbindia.com
Axis bank 15.75 15.75 axisbank.com
Bank of India 9.50 10.00 bankofindia.com
Union Bank of India 11.75 12.50 unionbankofindia.co.in
Syndicate Bank 10.00 10.00 syndicatebank.in
Central Bank of India 10.00 10.00 centralbankofindia.co.in
Canara Bank 11.00 12.00 canarabank.com
Corporation Bank 11.00 12.00 corpbank.com
IDBI Bank 11.75 12.75 idbibank.com
Uco Bank 11.25 11.75 ucobank.com