Education and Career Forum

Friends,

I have applied for education loan in a private bank. I want to know what is the verification process of any bank in case of education loan. Please give in the details.

To avail an education loan one must submit documents which are as follows for verification purpose:

* College admission letter.

* Address and Id proof.

* Collateral security.

* Bank statement.

* College prospectus and fee details.

* Academic certificates.

The respective bank will verify all the submitted documents and if found any errors, the bank will reject the application form to avail educational loan. The verification process will take atmost 1 month.

The bank will verify all the documents submitted by you and all the norms undertaken by you, coborrower and third party guarantor as applicable.
- First it will check the documents submitted pertaining to your academics like the recognition status of the institute, the fee structure, etc.
- It will verify other documents like income tax proofs, etc.
- A person from bank will also come to your residence for checking and verification.
- After this, you/coborrower/third party guarantor need to sign in the detailed education loan documents.

When we applied to educational loan, Will they verify our engineering documents?

Verify mean is it check on college website?