Necessary Documents for an education loan in India:
0TheFool / PixabayWhat are the documents needed for an education loan?
Planning to take an education loan? Here a few documents that you must keep ready and hand over to the bank before your education loan is processed.
a) For a salaried individual
If you are a salaried person then you need to keep the following documents:
Proof of identity: As a proof of identity your passport or voter’s ID card or driving license or PAN card or government department ID card would suffice.
Proof of income: For proof of income your latest salary slip showing all deductions or Form 16 along with recent salary certificate would be necessary.
Proof of residence: For proof of residence you would need to show a bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or existing house lease agreement.
Bank statement or pass book where salary or income is credited is also a must, before your loan is processed.
b) For others like professionals planning a Education Loan
Proof of identity: For proof of identity passport or voter’s ID card or driving license or PAN card would be enough.
Income proof: For proof of income IT returns for the last 2 years and computation of income for the last 2 years. This should be certified by a CA.
Proof of residence: Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or existing house lease agreement.
