Education Loan

Documents required for Education Loan

Not everybody can afford Higher Education abroad. In fact each and every student going abroad for higher education definitely applies for education loan. So the below mentioned documents are the required documents for sanctioning an Education loan for your higher education.

  • Color Photographs of applicants as well as guarantor
  • Original I-20 from the University
  • Proof of identity
    – Passport
    – Election I-Card
    – Driving License
    – Permanent Account Number (PAN) Card
    – College Student ID Card
    – Ration Card
  • 10th Class Original Mark-sheet + Certificate
  • 12th Class Original Mark-sheet + Certificate
  • GRE / GMAT Original Score Sheet
  • TOEFL / IELTS Original Score Sheet
  • Official Transcripts / Mark-sheet of 4 years of B.Tech
  • Bank Statement or Passbook of applicant and/or guarantor
  • Proof of residence
    – Electricity Bill
    – Telephone Bill
    – Mobile Bill
    – Bank account Statement
    – Credit Card Statement
  • Proof of income of guarantor
    – Recent Salary slip
    – Income Tax (IT) returns
    – Chartered Accountant’s Statement of your Income
  • Age proof
    – School Leaving Certificate
    – Birth Certificate
  • Copy of Sale DD of Mortgaging Property
  • Assets & Liability statement along with supporting documents
  • An affidavit confirming that  no loans have been sanctioned from other banks

I guess I’m clear with all the documents required for Education Loan for higher studies abroad. Do you need any further information on Education Loan? Comment below

10 thoughts on “Documents required for Education Loan

  1. Hi Chirag,
    Thanks for this helpful post.
    DO you have any idea about credila being affiliated to HDFC?. Few people say it is a subsidiary and rest say it is an independent organization.
    I am asking because my father already has a loan from HDFC.
    SO would that be a problem?
    Kindly guide

    1. Well Credila is a sub division of HDFC and I don’t think the other loan should be a problem. Better fill up this form and they will assist you about your loan queries :)

  2. What is the maximum limit for education loan, i see here 20 lakhs, Is it possible to get in indian colleges?

  3. I got admission in a college in Canada. Am planning to apply for an education loan. But I don’t have the original property papers of my house, because it is in the bank (housing loan). Will I be able to get a loan? If so in which bank?

  4. Hey chirag
    I want to know that is both GRE and IELTS required for loan ??? Will only IELTS be accepted??

    1. Hi Lasya,

      A lot of things decide the loan amount, eligibility and Sanctioned amount. We have mentioned GRE and TOEFL as those are more preferred and in most cases the deciding factors. It is also possible to get the loan with just the IELTS score :)

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