Education Loan – groptofincorp.com

Why would You Need An Education Loan?

Features Of Education Loan

All loans are not created equal, Education loan has become a great option for people to use.

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An Education Conversion Loan is a scheme available for those who have already taken out a housing loan. This loan follows specific rules and regulations and is considered a part of the existing loan.

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Education Loan - Eligibility And Criteria

Age: Minimum age of 18 years
Admission Confirmation: Proof of acceptance into a recognized educational institution
Co-borrower or Guarantor: Typically required to be a parent or guardian
Credit History: Both the student's and the co-borrower's/guarantor's credit histories should be strong

Documentation For Education loan

Aadhaar Card and PAN Card of the student, parent, co-borrower, or guarantor
Passport (mandatory for studying abroad)
Passport-sized photographs of the student, parent, co-borrower, or guarantor
10th and 12th grade marksheets (and graduation marksheet if applicable), entrance exam results
Proof of course admission (offer letter, admission letter, or ID card if available)
Copies of any scholarship, free-ship, or financial aid letters
Gap certificate, if applicable (self-declaration from the student for any study gap)
Bank account statement for the last 6 months from the parent, guardian, or guarantor
For salaried individuals (latest salary slip and Form 16) and for non-salaried individuals (business documentation and most recent ITR)