Education Loan
Education Loan
Education is a major expenditure and investment for children's futures, especially with the high costs of higher education abroad. Banks and some NBFCs offer attractive education loans, covering expenses like stationery, accommodation, and food. Loans above 7.5 lakhs require collateral, with EMIs starting a year post-graduation and no prepayment restrictions.
Documents
Documents of student
- PAN
- Adhaar
- Passport
- Mark sheet and certificate from 10th till now
For coapplicant(photocy and self attested)
- PAN
- Adhaar
- 3 years income tax return
- last 6 months bank statement
- Proof of existing loan if any
Education Loan
- Self-employed individuals, proprietors, private limited companies & partnership firms working in trading, manufacturing or services.
- Individuals associated with the current business for a minimum of 3 years (plus a total of 5 years of business experience).
- Individuals should be at least 22 years of age while applying for the loan & less than 65 years of age at the time of maturity.
- Enterprises making profits for the past two years.
- Enterprises with a minimum turnover of INR 10 Lakhs.
- Enterprises with a Minimal Annual Income (ITR) of INR 2 Lakhs per year.
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