You can draw funds when you require to pay your fees.
Ability to repay the loan capital after completing the course.
Loans facilities for both local and foreign education.
Extremely competitive low interest rates.
Adequate funding for your need.
Quick loan approval.
Eligibility
If you are a student registered with an education course provider, you can apply for a Education Loan.
Non employed applicants :
You can apply jointly with your parent, guardian or spouse who is eligible as a co borrower. You should be above the age of 18 years.
Employed applicants :
Permanent employees of a reputed company with a minimum monthly net salary of Rs. 75,000/- (Basic Salary+ Fixed Allowances) and your salary must be remitted to any bank account for at least 3 months.
Self employed professionals :
Professionally qualified individuals employed in their chosen field of profession. You should be between 18 to 65 years of age.
Documents Needed
Loan application.
A letter from education service provider
Recent salary slips for past 03 months (If employed) / Income verification documents for employed and self-employed applicants.
Letter from the employer confirming Employment, Salary & Deductions with the undertaking to the account at Commercial bank.
Bank statements of other banks for the past 06 months, where salary is being credited at present.
Copy of National Identity Card / Valid Passport/ Valid Driving License.
Address verification documents indicating applicant’s name and address (if applicable). More info >>
Guarantor Statements (if applicable).
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Copy of National Identity Card of the Guarantor (if applicable).
Copy of latest salary slip of the Guarantor (if applicable).
Address verification documents indicating Guarantor's name and address (if applicable). More info >>
Details of the property to be mortgaged such as latest Deed copy, approved Surveyor Plan copy, copy of approved Building Plan, copies of Local Authority documents obtained within 06 months, copy of Rates Paid for the last quarter (If applicable).
