Education and Career Forum

Hi Friends,

I am Vinayak and I want to know about the documents required for taking an education loan? I am planning to apply for an Education Loan for my MBA program. But I don’t know about what are the documents I have to submit? Please help me.

Documents to be submitted depends on the bank in which you are opting for education loan and the loan amount which you are seeking. However, in general the documents which are asked by the banks are-

- Admission call letter from the concerned college.
- Rank card of the entrance exam based on which you got admission if any.
- Prospectus of the concerned institute.
- House tax certificate or rent certificate.
- Your previous academic records.
- Income tax certificate of your family.
- Signed loan documents.

Nowadays there is no barrier of money in education because there are scheme of education loan for everyone who fulfill bank's restriction for education loan. You must have to submit your Residence proof, Income Proof, photocopy of your bachelor degree, Last 6 months of Bank account statement and three passport size photographs. Also you have to submit the complete fee structure from your college. If you are planning to study in abroad the you must have to submit a photocopy of your passport and visa.

The documents required for education loan to study Master of Business Administration is as below:

1. Recognition letter of your institute.

2. Your marksheets.

3. Father's income certificate.

4. Loan letter from institute.

5. Bank account passbook.

6. Collateral incase loan is above seven lacs.

You are planning for taking the educational loan for MBA program and want to know about the documents required to submit.

Following are the documents you need to submit:

--Admission slip which you got at the time of admission.

--Color photograph

--Xerox copy of your mark statement of your graduation degree.

--Identity proof (Driving license, PAN card)

--Address proof (Electricity bill, passport)

**After getting all these documents in original or two photocopy set, visit to nearest bank branch office through which you want to take educational loan. Fill the application form which is given by the bank official and submit it with relevant documents. Your loan will be sanctioned within 15 days after validating from the bank official.

Documents required to apply for an Education Loan to study MBA are mentioned below :-

1. Fully Completed Application Form
2. Proof of Identity
3. Proof of Residence
4. Proof of Income
5. Academic Documents (10th/12th/Bachelor's degree certificates)
6. Proof of Admission
7. Bank Statement
8. Documents of Immovable Collateral property

The following are the required documents to submit in bank to avail an education loan:

* Photocopies of all academic certificates.

* Address and Id proof.

* College admission letter and prospectus.

* Academic fee details.

* Latest 6 months bank statement.

* Collateral security.

* Date of birth certificate.

* Declaration/ Affidavit stating that no other loan is availed from other bank.