Education and Career Forum

Hello sir, I am doing a private job from this year and was approach to BOI for an education loan for my brother. My father is not alive. But, officer demands last 2 year’s form 16 from Employer or last 2 Year’s Income Tax Returns and last 2 Year’s Certified Financial Statements. What should I do if have not both the documents?

If you do not have the required documents that the officer is asking for, you can explain your situation to them and provide alternative documentation that may be available to you. For example, you could provide salary slips or bank statements as proof of income for the current year. You could also provide any other assets you own as collateral for the loan.

If the officer is not willing to accept alternative documentation, you can try approaching other banks or financial institutions that may have more relaxed documentation requirements. Alternatively, you could also consider asking a family member to act as a co-applicant or guarantor for the loan.

It is important to note that banks have different eligibility criteria and documentation requirements for education loans, so it is always advisable to check with the bank beforehand and prepare all the necessary documents in advance.