Education Loan for Study Abroad: An education loan for studying abroad is a financial aid option that supports students in covering tuition fees, living expenses, and other related costs. Offered by banks and financial institutions, these loans typically require a co-signer or collateral, depending on the loan amount and provider.
Interest rates, repayment terms, and processing fees vary by lender. Students can choose between secured loans (requiring collateral) or unsecured loans (no collateral needed). Many lenders offer repayment flexibility, allowing students to start repayment after completing their course. Additionally, government subsidies or special schemes may be available for loans in specific countries or courses.Document Type | Applicant | Co-applicant |
Date of Birth | Birth Certificate, Passport, Voter card with DOB, College Passing Certificate, PAN Card, Driving license, Aadhaar Card | |
Residence Proof (if owned) | Electricity Bill, Municipal Tax Receipt, Share Certificate, or Title Deed (with Flat No.) | |
Residence Proof (for a rented property) | Registered Rent agreement (with utility bill), Landline phone bill, Post Paid Mobile Bill, Bank statement., Passport, Driving License, Voter ID, and Aadhaar card | |
Aadhaar | Aadhaar card | |
PAN Card | Copy of PAN / Form 60 if PAN is not available | |
Signature | Signature verification from the bank, Passport, Driving License, and PAN Card (all IDs should match with your current signature) | |
Relationship proof | Passport, Pan, Aadhaar card, Marriage certificate, Birth certificate, Legal heir certificate, Ration card, or any other acceptable documents | |
Academic documents | 10th,12th, UG or PG mark sheets, degree or provisional degree certificate, and applicable entrance test scores | Registration certificates for Professionals (CA, Doctor) |
Income proof - Salaried | Documents to establish 3 years of work experience where ever applicable and available | Latest 3 salary slips, Bank Statement of last 3 months, Form 16, Self-employed: 2 years ITR with the statement of income, Income certificate from Tehsil/collector's office |
Office Address | NA | Form 16/ Salary slip/ Letter from HR/ Snapshot of site/Identity card |
Admission proof | Invite/admission letter from University/college and Fee structure | NA |