EDUCATION_LOAN


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Education Loan

Education loan are advances made by banks or financial organisations for the purpose of meeting higher education expenses of the students. Under this special loan scheme, the meritorious students of the country having excellent educational qualification are offered financial help to study in renowned institutes in India and abroad.

Education Loan Eligibility

Since these loans are offered to brilliant students who are unable to meet the expenses of their higher education, the basic education loan eligibility is the academic excellence and achievements of the students. In other words, the eligibility of the applicants are assessed on the basis of their academic performance as cited in the mark sheets of previous exams.

Eligibility criteria

The candidate applying for the loan must be a resident of India.
He/she must have confirmed admission in recognised educational institutes in India or abroad.
The age of the candidate must fall within the bracket of 18 to 35 years during loan application.
He/she must be undergoing a graduate/postgraduate degree or a PG diploma.
The applicant should have a secured admission in a college or university affiliated by UGC/AICTE/Govt. etc.
Students pursuing full-time courses need to have a co-applicant who can be either parent/guardian or spouse/parent-in-law (in case of married candidates).

Education Loan Documents:-

The bank needs certain documents to make sure you are a genuine student at a reputed university in india or in abroad and you can pay off the loan after finishing your course. For that certain documents need to be submitted as proof.

Two passport sized photographs
Photo ID proof
Residence Proof

Academic Documents

Admission letter/Offer letter
Fee details and break up
Score reports
Copy of student visa (if applicable)
Mark sheets of the tenth and twelfth board examinations
Mark sheets of an undergraduate degree or any diploma/certificate

Income documents

Last three months' salary slip
Income tax return for the last two years

Connect Soul can help you obtain a Education Loan. You just need to give us all the required information and documents and we’ll help you to making sure that you abide by all the eligibility requirements under this scheme.