Education and Career Forum

Hello,
I want to get education loan for doing MBBS course in Russia which is going to cost me upto Rs. 18 Lacs. But I just want Rs. 7.5 Lacs of education loan for first 2 years. What are the necessary documents are required for applying? And is there any need to give some property papers of guarantor?

If you want to take education loan of 7.5 lakhs, then there is no need of any mortgage of property. However, if you are willing to take education loan of amount greater than 7.5 lakhs, you need to keep some property like land, house, etc. as mortgage to the bank. The usual documents asked by the bank are mentioned below. Apart from the mentioned ones, the concerned bank may charge other documents as per their need and rules and regulations, so it is better you consult the concerned bank's manager to know the complete list of requisite documents.

- Your previous academic certificates.
- Your previous or ongoing scholarship proof.
- Your admission letter and rank card if admission done through entrance exam.
- Prospectus of the concerned institute.
- Proof of approval of the concerned institute by competent authorities.
- Income certificate of the family members.
- House tax proof, other property's tax proof, LIC and other income proof of the co-borrower.
- Passport size photographs and fee structure proof of the concerned institute.