The following documents are to be submitted to complete the application process.
- Letter of admission.
- Duly filled and signed loan application form.
- 2 recent passport size photographs.
- Statement of cost of study.
- PAN Card, AADHAR card of student and parent/guardian.
- Proof of identity and proof of residence.
People also ask, how can I get a bank loan for study?
WHAT YOU NEED FOR AN EDUCATION LOAN
- Co-applicant is a must; can be parents, spouse, siblings.
- For loans between Rs 4-7.5 lakh third-party guarantor is required.
- For loans above Rs 7.5 lakh lender will ask for collateral.
- Repayment starts six months to one year after completion of the course.
Secondly, is it hard to get a loan from the bank? It's becoming increasingly difficult to qualify for a personal loan through your bank or credit union, especially if you want a larger amount, but it is possible to get a reasonable loan if you meet the requirements.
Also Know, which bank provide education loan easily?
Best education loan banks offer additional features like margin fee waiver, processing fee waiver, education loan insurance, etc.
SBI Education Loan Interest Rates.
| SBI Education Loan Scheme | Interest Rate Range |
|---|---|
| SBI Scholar Loan Scheme | 8.65% to 9.95% |
| SBI Skill Loan Scheme | 9.95% (fixed) |
How can we get loan from the bank?
- Step 1: Determine your requirement. Figure out why you need a Personal Loan and how much you need.
- Step 2: Check loan eligibility. Once you know how much you need, you should check whether you are eligible.
- Step 3: Calculate monthly instalments.
- Step 4: Approach the bank.
- Step 5: Submit documents.
