Education Loan Eligibility Details

Education loans or Student Loans are advances for the purpose of meeting expenses for higher education whether in India or abroad.

Education Loan Eligibility:

Nationality Indian
Age Minimum - 16 yrs.
Maximum - 26 yrs.
Academic Record Proven - good
Income Source Parents/Guardians
Income Stable
University Applied to Recognized - In India/Abroad
Security Tangible collateral or guarantor - depending on loan amount and income source/stability

Education Loan Documentation:

Depending on the lending institution

  • Application form duly signed with photographs affixed
  • Qualifying exam mark sheets
  • Proof of:
    • Admission at University applied to
    • Course expenses
  • PAN Card - Student/Parents/Guardians
  • Bank Statement - 6 months (borrower’s)
  • Income and tax proofs (borrower’s)
  • Age proof
  • Residence proof

What will improve chances of eligibility for an Education loan?

  • Obtaining good marks/ranking in qualifying exams
  • Display good academic record
  • Acceptance into a reputed/top-tier university
  • Strong financial background of parents/guardians
  • Display good prospects for future employment/income generation

How to Find Your Eligibility for an Education Loan?

At Bank Bazaar, all you need to do is provide basic, key background details required to qualify for an educational loan.

Based on this data, results for suitable education loan offers are displayed in an easy-to-compare manner.

Users can then apply online for the most appealing offer and avail unique deals as provided by Bank Bazaar to its users through collaborations with its partner institutions.

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