Education and Career Forum

Respected Sir,
Kindly tell me the procedure for applying an Education Loan in Bank Of India for studying B.Tech? Please tell me about the documents required for the same?

You need to approach the concerned branch of Bank of India for applying education loan. Approach the branch manager and have a discussion concerning education loan - its terms and conditions, your eligibility, the norms to follow. Express your request of education loan. Act as per the instructions of bank authority to get your education loan sanctioned.

Documents required to apply for education loan are :-

- Your previous academic certificates.
- Income certificate of the family members.
- House tax proof, other property's tax proof, LIC and other income proof of the co-borrower.
- 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.
- Passport size photographs and fee structure proof of the concerned institute.

To apply for an education loan the candidate must have satisfied below eligibility criteria:

* Candidate must be a citizen of India.

* Candidate must have secured admission in any of the recognized college to pursue recognized and valid course.

If you meet the above criteria then approach the nearest bank and obtain an application form. Fill the application form with all necessary details and submit it back by attaching the following documents.

* College admission letter including the prospectus and college fee particulars.

* Address and ID proof.

* Passbook statement.

* Photocopies of Academic certificates.

* Collateral security.

* Passport sized photographs.

The candidate can also apply online at HERE